Warts Therapeutics Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Common Warts, Genital Warts, Flat Warts, and Others), Treatment (Physical Destruction, Immunomodulation, and Chemical Destruction), and End User (Hospitals, Homecare, Specialty Clinics, and Others)
Publication Month: Aug 2021 | Report Code: TIPRE00024332 | No. of Pages: 401 | Category: Pharmaceuticals | Status: Published
The warts therapeutics market was valued US$ 1,829.54 million in 2021, it is estimated to grow at a CAGR of 3.4% from 2021 to 2028.
The growth of the warts therapeutics market is attributed to rising prevalence of human papillomavirus infections and recurrence of genital warts, and development of new products. However, poor diagnostics scenario in low-income countries restrains the market growth. Warts are skin growth caused by the human papillomaviruses (HPV). There are more than 60 types of HPVs, and several of these tend to cause warts on the skin. Although topical treatments could probably resolve the issue of warts in a few weeks with minimal side effects, they may not be effective all the time. Hence, cryotherapy with liquid nitrogen is a suitable option for treatment, where cure rate is 60–90% and less than 10–20% recurrence rate.
In the US, the demand for warts treatment procedures has reduced due to the shift in focus on COVID-19. The pandemic has been causing havoc in the global supply chains, consumer markets, and economies as a whole. As a result of the measures implemented by governments around the world have negatively impacted the warts therapeutics market growth.
Lucrative Regions for Warts Therapeutics Market
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Market Insights
Rising Prevalence of Human Papillomavirus Infections and Recurrence of Genital Warts Fuel Warts Therapeutics Market Growth
Warts are caused by various strains of human papillomaviruses (HPV), and different strains cause warts in different parts of the body. Healthy persons coming in contact with warts can acquire the infection. As per the Centers for Disease Control and Prevention (CDC), in 2018, ~20% of the population, i.e., ~42.5 million people, in the US had sexually transmitted infections (STIs). In addition, before HPV vaccination, genital warts affected ~340,000–360,000 women and men in the US annually. Moreover, the recurrence rate for genital warts is high. As per the National Center for Biotechnology Information (NCBI), ~30% of total warts cases globally are expected to regress within the first four months of infection. In addition, HPV infections lead to cervical cancer, and cervical cancer is the fourth most common cancer among women globally. As per the World Health Organization (WHO), ~570,000 new cases of cervical cancer recorded in 2018 with high prevalence in low-income countries. Hence, an increase in the prevalence of HPV infections, leading to a rise in wart cases, and the high recurrence rate of warts are driving the wart therapeutics market growth.
Type-Based Insights
Based on type, the warts therapeutics market is further segmented into common warts, genital warts, flat warts, and others. The common warts segment holds the largest share of the market. However, the genital warts segment is anticipated to register the highest CAGR during 2021–2028. Genital warts refer to sexually transmitted infection that are usually caused due to HPV. The increasing prevalence of STDs and growing research and development efforts to develop genital warts treatment options would propel the market growth of this segment in the coming years.
Warts Therapeutics Market, by Type – 2021 and 2028
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Treatment - Based Insights
Based on treatment, the warts therapeutics market is further segmented into physical destruction, immunomodulation, and chemical destruction. The market for physical destruction is further segmented into cryotherapy, surgical removal, and laser treatment. The immunomodulation is sub segmented into interferons, retinoids, and zinc. The chemical destruction segment is further divided into bleomycin, cantharidin, salicylic acid, and others. The physical destruction segment holds the largest share of the warts therapeutics market and is anticipated to register the highest CAGR in the market during the forecast period.
End User-Based Insights
Based on end user, the warts therapeutics market is segmented into hospitals, homecare, specialty clinics, and others. The hospitals segment holds the largest market share. However, the homecare segment is estimated to register the highest CAGR during the forecast period. The projected market growth for this segment can be attributed to the increasing number of hospitals across the world, and rapidly growing number of surgical procedures.
Strategic Insights
Companies operating in the warts therapeutics market are adopting the product innovations strategy to meet the evolving customer demands across the world, which also permits them to maintain their brand name in the global market.
Warts Therapeutics Market – by Type
- Common Warts
- Genital Warts
- Flat Warts
- Others
Warts Therapeutics Market – by Treatment
- Physical Destruction
- Cryotherapy
- Surgical Removal
- Laser Treatment
- Immunomodulation
- Interferons
- Retinoids
- Zinc
- Chemical Destruction
- Bleomycin
- Cantharidin
- Salicylic Acid
- Others
Warts Therapeutics Market – by End User
- Hospitals
- Homecare
- Specialty Clinics
- Others
Warts Therapeutics Market– by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Bausch Health Companies Inc.
- Nielsen BioSciences, Inc.
- Euro Vital Pharma GmbH
- Cipla Inc.
- Koninklijke Utermöhlen NV
- Novan, Inc.
- Scholl's Wellness Company
- TEVA PHARMACEUTICAL INDUSTRIES LTD
- Verrica Pharmaceuticals Inc.
- GlaxoSmithKline plc.
- AIM ImmunoTech Inc
Frequently Asked Questions
Warts are skin growth caused by the human papillomavirus (HPV). There are more than 60 types of HPV, some of which tend to cause warts on the skin. Topical treatments could probably resolve the issue of warts in a few weeks with minimal side effects. Topical treatment of may not be effective all the time. Hence, cryotherapy with liquid nitrogen is a suitable option for treatment, where cure rate is 60% to 90% with less than 20% to 10% recurrence rate.
The factors that are driving growth of the market are rising prevalence of human papillomavirus infections and recurrence of genital warts and new product developments.
Various companies have made organic growth strategies in the warts therapeutics market. Some of the activities undertaken by the company, which have promoted its growth are, launches, enhancements and expansion & relocation activities. Companies such as Nielsen BioSciences, Inc, TEVA PHARMACEUTICAL INDUSTRIES LTD amongst others are some of the companies that have been implementing various organic strategies that have helped the growth of the company.
North America dominates the global warts therapeutics market due to factors such as rising prevalence of HPV, increasing product launches, well-developed healthcare facility centres equipped with modern-age equipment and instruments.
The physical destruction segment is growing at the highest CAGR owing to availability of diagnostic devices and ease offered by these devices for diagnosis of various disorders.
Asia Pacific is expected to be the fastest growing region in the warts therapeutics market. The growth of the market in this region is primarily due to supportive government initiatives and research in the field of HPV infection.
The List of Companies - Warts Therapeutics Market
- Bausch Health Companies Inc.
- Nielsen BioSciences, Inc.
- Euro Vital Pharma GmbH
- Cipla Inc.
- Koninklijke Utermöhlen NV
- Novan, Inc.
- Scholl's Wellness Company
- TEVA PHARMACEUTICAL INDUSTRIES LTD
- Verrica Pharmaceuticals Inc.
- GlaxoSmithKline plc.
- AIM ImmunoTech Inc
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