Warts
Therapeutics Market: Introduction
According to the report,
the global warts therapeutics market was valued
at US$ 1.7 Bn in 2019. It is projected to expand
at a CAGR of ~3% from 2020 to 2030. 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 predictably resolve 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. North America dominated the global warts therapeutics market in 2019. The
trend is anticipated to continue during the forecast period. Rise in awareness
regarding different treatment option and launch of new products in the region
are estimated to drive the warts therapeutics market in North America.
Recurrence of
Warts to Drive Warts Therapeutics Market
Warts is a highly common
disease, which may regress spontaneously. It persists for years and recurs at
the same or different sites, even with treatment. Factors influencing
recurrence appear to be related to the patient’s overall immune status as well
as local factors. As per an article published in NCBI, the recurrence rates for
genital warts treated with topical podophyllotoxin treatments is 6% to 100%.
According to the Centers for Disease Control and Prevention, recurrence of
anogenital warts within 3 months is common. Thus, increase in recurrence rate
of warts leads to increase in utilization of products and treatment and this
drive the market for warts therapeutics.
Common
Warts to Dominate Warts Therapeutics Market
Based on warts type, the
global warts therapeutics market has been classified into common warts, genital
warts, flat warts, and others. Common warts is a cutaneous viral infection
caused by HPV. Students are more prone to acquiring common warts, owing to
increased chances of contact with multiple individuals in schools and colleges.
According to numerous published journals, among different warts, common warts
are a highly common type of warts.
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Physical
Destruction to be Highly Lucrative Treatment Type
In terms of treatment
type, the global warts therapeutics market has been segmented into physical
destruction, chemical destruction, and immunomodulation. The physical
destruction segment held a major share of the global market in 2019.
Currently, physical destruction, such as cryotherapy with liquid nitrogen,
represents the first line of therapy treatment for warts such as common warts,
genital warts, which provides cure rates of 50% to 80%. This
drives the physical destruction segment of the global warts therapeutics
market.
Clinics to be
Major End User
In terms of end user, the
global warts therapeutics market has been classified into hospitals, clinics,
and others. The preference for outpatient treatment to avoid hospital stay is a
key factor that drives the segment. Moreover, an increase in number of clinics
with advanced treatment options for warts is anticipated to drive the segment.
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North America to
Dominate Global Warts Therapeutics Market
In terms of region, the
global warts therapeutics market has been segmented into North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa. North America
dominated the global warts therapeutics market in 2019, followed
by Europe. North America accounted for a major share of the global warts
therapeutics market in 2019. According to available data, the
prevalence of common warts 22 million among men and women, and
more than 8% diagnosed annually.
Competition
Landscape
The global warts
therapeutics market is fragmented in terms of number of players. Key players in
the global warts therapeutics market include GlaxoSmithKline plc,
Pfizer, Inc., Teva Pharmaceutical Industries Ltd, Phio Pharmaceuticals Corp.,
Verrica Pharmaceuticals, Bausch Health Companies, Inc. Mylan N.V., Prestige
Consumer Healthcare Inc., Scholl’s Wellness Co. Taro Pharmaceutical Industries
Ltd., Cipla Ltd., Novan Inc., Merck & Co., Inc., and AIM ImmunoTech, Inc.
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