The global Warts Treatment Market exhibited significant strength in 2021 and is projected to experience a rapid increase in revenue with a Compound Annual Growth Rate (CAGR) over the forecast period. One of the key risk factors contributing to chronic Human Papilloma Virus (HPV) infections and HPV-related illnesses is immunosuppression. The prevalence of this condition is particularly high among school-aged children, affecting approximately 10% to 20% of this demographic. The COVID-19 pandemic has also contributed to the growth of the warts treatment market due to an increase in immunocompromised individuals. However, this promising market is faced with challenges such as the high cost of treatment and limited treatment availability.
Warts are common benign growths on the mucous membranes and skin caused by the Human Papilloma Virus (HPV). Individuals infected with warts can experience significant morbidity, and the virus can be transmitted through direct or indirect contact. HPV infections encompass various types, including genital warts, flat warts, and palmoplantar warts. Common warts are most frequently linked to HPV types 2 and 4, followed by types 1, 3, 27, 29, and 57.
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Factors Driving Market Growth
Drivers: Several factors are propelling the growth of the warts treatment market. The increasing elderly population is expected to drive revenue growth during the forecast period. Advancements in diagnostic techniques and an uptick in HPV infections have led to a rise in the number of individuals diagnosed with warts, especially genital warts. Notably, HPV is the leading cause of warts, with genital warts alone affecting 340,000 to 360,000 individuals annually in the United States. Additionally, the prevalence of warts in the general population is on the rise, further fueling market growth. The pharmaceutical industry's increased focus on clinical trials and the growing demand for targeted treatments for wart-related complications are additional factors contributing to the expansion of the warts treatment market.
Challenges and Restraints: While the market shows promise, there are significant challenges impeding its growth. Ineffective and incomplete wart treatments are a major concern. Treatment costs are another significant barrier, as wart therapies are often expensive. Despite the availability of various wart treatments, recurrences are common, and side effects, such as those associated with antimetabolites, limit market growth. Nonpharmacological therapies and surgical treatments for warts also pose complications and pain for patients. Additionally, the preference for laser therapy over pharmaceutical approaches presents a challenge to the market's expansion.
Opportunities: There are several opportunities for market expansion, including increased research and development activities focused on efficient and targeted wart treatments. Clinical trials exploring treatment options like intralesional vitamin D3 are underway. Addressing the issue of wart recurrence through the development of a permanent treatment is another potential opportunity. Collaboration and acquisition strategies in the pharmaceutical industry, as well as increased funding for research and development, are also influencing market growth. Developing targeted vaccines against specific HPV types associated with different warts could further advance disease treatment and raise awareness among the general public.
Geographic Market Scenario
Largest Market Share: North America is expected to dominate the market in terms of revenue share due to the introduction of new treatment options, increased healthcare spending, and a wide range of treatment choices. Growing awareness of the disease in this region is also contributing to market growth.
Fastest Growing Region: The Asia Pacific region is projected to experience a significant CAGR in revenue over the forecast period. Countries such as China and India are witnessing a substantial increase in the elderly population, while the presence of generic drug manufacturers and expanded healthcare facilities is accelerating growth.
Key Market Trends and Innovations:
- Orgenesis is advancing its RanTop (Ranpirnase topical gel) for the treatment of Anogenital Warts (AGW) through Phase 2 studies.
- Assiut University is conducting a clinical study to compare the efficacy and safety of intralesional acyclovir and intralesional Vitamin D3 in the treatment of plantar warts.
- Labo'Life has been conducting a clinical trial to assess the efficacy of 2LVERUJUNIOR and 2LVERU in wart treatment.
Competitive Landscape:
Companies in the warts treatment market are employing both organic and inorganic strategies to maintain competitiveness and foster growth. For example:
- Teva Pharmaceuticals released the first generic Absorica (isotretinoin) pills for severe recalcitrant nodular acne warts.
- Orgenesis Inc. completed the acquisition of Tamir Biotechnology, Inc., including Ranpirnase, a broad-spectrum antiviral platform.
- Verrica Pharmaceuticals Inc. and Torii Pharmaceutical Co., Ltd. entered into a partnership and licensing agreement for the development and marketing of product candidates for the treatment of molluscum contagiosum and common warts in Japan.
- Bio Frontera AG signed an exclusive licensing agreement with Maruho Co., Ltd. for the development and marketing of Ameluz for all indications in East Asia and Oceania.
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Major Companies in the Market:
- Pfizer Inc.
- Orgenesis Biotech Company
- Teva Pharmaceutical Industries Ltd.
- Verrica Pharmaceuticals
- Merck Co., Inc.
- Cipla Ltd.
- GlaxoSmithKline
- Phio Pharmaceuticals Corp.
- Taro Pharmaceutical Industries Ltd.
- Mylan N.V.
- Bausch Health Companies, Inc.
- Novan Inc.
- Start-ups: VeraDermics
Report Highlights:
This comprehensive report provides historical data, forecasts, and revenue growth trends at the global, regional, and country levels. It also includes in-depth analysis of industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and competitive landscape. Additionally, the report offers insights into company financials and impact analysis.
End-Use Outlook (Revenue, USD Billion; 2019-2030):
- Hospital Pharmacies
- Retailer Pharmacies
- Online Pharmacy Stores
Type Outlook (Revenue, USD Billion; 2019-2030):
- Common Warts
- Butcher's Warts
- Filiform Warts
- Focal Epithelial Hyperplasia
- Deep Palmoplantar Warts
- Flat Warts
- Cystic Warts
Route of Administration Outlook (Revenue, USD Billion; 2019-2030):
- Oral
- Parenteral
- Others
Treatment Outlook (Revenue, USD Billion; 2019-2030):
- Medication
- Antimetabolites
- 5-fluorouracil
- Cidofovir
- Salicylic Acid
- Vitamin-A Derivatives
- Non-Pharmacological Therapies
- Systemic Treatments
- Intralesional Injections
Dosage Form Outlook (Revenue, USD Billion; 2019-2030):
- Tablets
- Topicals
- Injections
Regional Outlook (Revenue, USD Billion; 2019-2030):
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
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