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abstract: 'Density-wave instabilities have been observed and studied in a multitude of materials. Most recently, in the context of unconventional superconductors like the iron-based superconductors, they have excited considerable interest. We analyze the fluctuation corrections to the equation of state of the density-wave order parameter for commensurate charge-density waves and spin-density waves due to perfect nesting. For XY magnets, we find that contributions due to longitudinal and transverse fluctuations cancel each other, making the mean-field analysis of the problem controlled. This is consistent with the analysis of fluctuation corrections to the BCS theory of superconductivity \[Š. Kos, A. J. Millis, and A. I. Larkin, Phys. Rev. B **70**, 214531 (2004)\]. However, this cancellation does not occur in density-wave systems when the order parameter is a real $N$-component object with $N\neq2$. Then, the number of transverse fluctuating modes differs from the number of longitudinal fluctuating modes. Indeed, in the case of charge-density waves as well as spin-density waves with Heisenberg symmetry, we find that fluctuation corrections are not negligible, and hence mean-field theories are not justified. These singular fluctuations originate from the intermediate length-scale regime, with wavelengths between the lattice constant and the $T=0$ correlation length. The resulting logarithmic fluctuation 