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.
The regional trends and factors influencing the Warts Therapeutics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Warts Therapeutics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 1.83 Billion |
| Market Size by 2028 | US$ 2.31 Billion |
| Global CAGR (2021 - 2028) | 3.4% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Warts Therapeutics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Warts Therapeutics Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Warts Therapeutics Market
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.
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.
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.
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.
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.