What Transformation Has the Warts Therapeutics Market Undergone?
The warts therapeutics market has seen considerable growth due to a variety of factors.
•In recent times, the warts therapeutics market has experienced a consistent escalation in size. The market value, which is predicted to be $1.96 billion in 2024, is forecasted to reach $2.03 billion in 2025. This growth signifies a compound annual growth rate (CAGR) of 3.6%.
The upward trend in the past can be linked to factors such as the utilization of salicylic acid, advancements in cryotherapy, evolution of topical treatments, surgical actions, and the advent of immunotherapy.
How Will The Warts Therapeutics Market Size Evolve In The Foreseeable Future?
The warts therapeutics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for warts therapeutics is anticipated to experience consistent expansion in the upcoming years. The expected growth is pegged to reach $2.4 billion by 2029, with a compound annual growth rate (CAGR) of 4.3%.
This projected growth can be credited to advancements in precision medicine for HPV, revolution in laser therapy, combination therapies, advancements in digital health solutions, and initiatives aimed at enhancing healthcare accessibility. The significant trends to watch for during this projected period include the development of targeted antiviral therapies, innovations in gene editing research, emergence of biodegradable delivery systems, and a shift towards psychodermatology.
Which Key Drivers Are Propelling The Warts Therapeutics Market's Growth?
The wart therapeutics market is anticipated to see significant growth due to a heightened emphasis on wart vaccinations. Vaccination involves introducing a vaccine to the body to produce antibodies to fight infections and associated diseases. Warts are typically caused by the human papillomavirus (HPV), and the use of a therapeutic or preventative vaccine for HPV helps to prevent wart development. This growing concentration on wart vaccinations is contributing to the increased sales in the wart therapeutics market. For example, in July 2023, it was reported by the World Health Organization, a Switzerland-based international public health organization, that there was a decrease in the number of children who didn't receive any vaccinations, also known as zero-dose children, from 18.1 million in 2021 to 14.3 million in 2022. Also, there was a global increase in coverage for the initial dose of the HPV vaccine in girls from 16% in 2021 to 21% in 2022. Therefore, this heightened emphasis on wart vaccinations is propelling the growth of the wart therapeutics market.
What Are The Key Segments Within The Global Warts Therapeutics Market?
The warts therapeutics market covered in this report is segmented –
1) By Type: Common Warts, Genital Warts, Flat Warts, Other Types
2) By Treatment: Physical Destruction, Immunomodulation, Chemical Destruction
3) By End User: Hospitals, Homecare, Specialty Clinics, Other End Users
Subsegments:
1) By Common Warts: Typically Appear On Hands, Fingers, And Elbows, Caused By Human Papillomavirus (HPV) Types 2 And 4
2) By Genital Warts: Occur In The Genital And Anal Areas, Primarily Caused By HPV Types 6 And 11
3) By Flat Warts: Smaller And Smoother Than Common Warts, Commonly Found On The Face, Neck, And Arms
4) By Other Types: Includes Plantar Warts (On Feet) And Filiform Warts (Around The Mouth And Nose), Various HPV Types Can Cause These Warts
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How Are New Trends Impacting The Size Of The Warts Therapeutics Market?
The notable trend emerging in the wart therapeutics market is product innovation. To maintain their market position, companies in this sector are working on developing unique treatments. For example, Verrica Pharmaceuticals Inc., a US-based company specializing in dermatology therapeutics, made an announcement in February 2023 that its revised New Drug Application (NDA) for a molluscum contagiosum treatment (a specific type of wart) known as VP-102 was accepted by the FDA (The United States Food and Drug Administration). They had received a number under the Prescription Drug User Fee Act (PDUFA). VP-102 is a unique, patented combo of a drug and device that delivers cantharidin (0.7% w/v) in a formulation controlled by good manufacturing practices (GMP). It can be precisely dosed topically and targeted administratively through a single-use applicator.
Who Are the Key Players in the Warts Therapeutics Market?
Major companies operating in the warts therapeutics market include:
• GlaxoSmithKline plc
• Merck & Co. Inc.
• Verrica Pharmaceuticals Inc.
• Bausch Health Companies Inc.
• Dr. Reddy's Laboratories Ltd
• Cipla Inc.
• Prestige Consumer Healthcare Inc.
• Maruho Co. Ltd
• Taro Pharmaceutical Industries Ltd
• Aclaris Therapeutics Inc.
• Novan Inc
• Scholl's Wellness Co
• AIM ImmunoTech Inc.
• Euro Vital Pharma GmbH
• Koninklijke Utermöhlen NV
• Nielsen BioSciences Inc.
• RXi Pharmaceuticals
• Phio Pharmaceuticals Corp.
• MedCara Pharmaceuticals
• KinoPharma Inc.
• pHion Therapeutics
• Compound W
• Duofilm
• Curad Mediplast
• Emblation Ltd.
What are the Regional Insights into the Warts Therapeutics Market?
North America was the largest region in the warts therapeutics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the warts therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
