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The Increasing Prevalence of Diseases such as Vaginitis, Athlete’s Foot and Others Clotrimazole Market

HYDERABAD, TELANGANA, INDIA, December 5, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Clotrimazole Market Size is estimated to reach $3.7 billion by 2027 and it is poised to grow at a CAGR of 6.2% over the forecast period of 2022-2027. Clotrimazole belongs to the chemical family of azole derivatives and was primarily invented as an antifungal cream. The medicinal utility allowed WHO to place the product/composition in the essential medicines list. The clotrimazole drug has been undergoing specific research-related activities, making it popular for its applications in sickle cell disease, malaria, cancer and others. Due to these reasons, the Clotrimazole industry is positioned favorably in the forecast period of 2022-2027. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/17881/clotrimazole-market.html

Key Takeaways:

This IndustryARC report on the Clotrimazole Market highlights the following areas -

1. Geographically, North America held a dominant market share in 2021. It is owing to a sizable prevalence of various diseases such as vaginitis and athlete’s foot along with a well-developed healthcare infrastructure. However, Asia-Pacific is estimated to offer lucrative growth opportunities in the forecast period owing to the increasing awareness about various diseases, supplemented by digital health.

2. The rising prevalence of common disease applications of clotrimazole and research activities to explore other application areas act as key drivers. However, side effects of the medications and the sizable presence of substitutes may hamper the market growth.

3. A detailed analysis of strengths, weaknesses, opportunities and threats would be provided in the Clotrimazole Market Report.

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Segmental Analysis:

Clotrimazole Market- By Type: The cream segment dominated the market in 2021. It is owing to the vast convenience of the product. Furthermore, cream as a topical agent has been trusted by doctors and patients alike owing to its sticking capacity to the skin surfaces. The cream form of clotrimazole is mostly prescribed to patients suffering from vaginitis which affects nearly 23%-29% globally. However, the Spray segment is estimated to be the fastest-growing, with a CAGR of 7.6% over the forecast period of 2022-2027. It is due to a wider reach of this form in cases of athlete’s foot and others. Also, due to OTC norms - manufacturers are trying to innovate their products in the marketplace.

Clotrimazole Market - By Sales Channel: Drugs Stores and Retail Pharmacies held a dominant market share in 2021. These medicines can be sold via both prescription and OTC platforms, thereby, patients/consumers have a strong choice to buy them at their convenience. Hence, drug stores and retail pharmacies are preferred. As per Commonwealth Fund, 2021, nearly 60,000 retail pharmacies were present in the U.S., with nearly most of them in highly populated areas. However, Online Pharmacies are estimated to be the fastest-growing segment, with a CAGR of 7.8% over the forecast period of 2022-2027. It is owing to the rising digital health-check up and digital prescriptions that would allow patients to order medicines at lucrative discounts and convenience.

Clotrimazole Market- By Geography: North America held a dominant market share of 33% in 2021. It is due to a high prevalence of various diseases that can be controlled with the application of clotrimazole. As per Science Direct findings, it is estimated that more than 70% of the U.S. population would develop tinea pedis/athlete foot during their lifetime. However, Asia-Pacific is estimated to be the fastest-growing region, with a CAGR over the forecast period of 2022-2027. It is because of the growing role of digital/telehealth platforms in semi-urban societies such as India which would proliferate the demand for medicines, such as Clotrimazole.

Competitive Landscape:

The top 5 players in the Clotrimazole industry are -

1. Bayer AG
2. Erregierre SPA
3. F.I.S.
4. Amoli Organics
5. Corden Pharma

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