Albany, NY -- (SBWIRE) -- 04/08/2021 -- Genital Warts Therapeutics Market: Introduction
Genital warts are a common sexually transmitted infection caused by the human papillomavirus (HPV). Nearly all sexually active people are likely to become infected with at least one type of human papillomavirus (HPV), the virus that causes genital warts, at some point during their lives. Some strains of genital HPV can cause genital warts, while others can cause cancer.
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Key Drivers and Restraints of Global Genital Warts Therapeutics Market
Increase in prevalence of warts & HPV infections drive the market. People with weakened immune system due to organ transplant, serious diseases such as cancer or AIDS, and atopic diseases are at a greater risk of developing warts. Thus, an increase in the number of people with cancer increases the prevalence of warts, and thereby drives the market. For instance, according to the Anal Cancer Foundation, each year, an estimated 14 million people are infected with HPV in the U.S. As per the Centers for Disease Control and Prevention, in the U.S., approximately 340,000 to 360,000 women and men were affected by genital warts caused by HPV every year, and it typically develops approximately 2 to 3 months after the HPV infection.
Recurrence of warts increases the demand for treatment. Several treatments are available for warts. However, recurrences are common. A high number of cases of genital warts fail to respond to treatment and often recur, especially with repeated infections from a long incubation period of HPV.
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However, low diagnostic rate due to lack of awareness may hamper the market. The prevalence of warts is higher among the population; however, the diagnosis rate is low in patients. For instance, according to the Health Protection Report, in England in 2018, the rate of genital warts diagnosis among girls aged 15 to 17 years attending sexual health services decreased 92%, as compared to that in 2014. Moreover, existing treatment procedures are often painful or invasive, can have undesirable outcomes such as scarring or dyspigmentation, and often require repeat visits. This results in a decrease in the diagnostic rate, which in turn, is likely to restrain the warts therapeutics market.
Physical destruction segment to dominate the global genital warts therapeutics market
Based on treatment type, the global genital warts therapeutics market can be divided into physical destruction, chemical destruction, and immunomodulation
The physical destruction segment dominated the global genital warts therapeutics market, in terms of revenue, in 2019. Currently, physical destruction, such as cryotherapy represents the first line of therapy treatment for genital warts, which provides cure rates between 50% and 80%.
However, the immunomodulation segment is expected to expand at a notable CAGR during the forecast period. Loss cost therapy, easy availability of drugs, and extensive ongoing research & development on immunomodulator drugs for the treatment of warts are expected to launch during the forecast period. For instance, immunomodulator candidate CB-06-02 from Cassiopea Inc., is likely to drive the segment from 2020 to 2030.
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Clinics segment witnessed significant expansion
Based on end user, the global genital warts therapeutics market can be divided into hospitals, clinics, and others
The clinics segment accounted for a prominent share of the global genital warts therapeutics market in 2019. It is estimated to expand at a notable CAGR during the forecast period. Preference for outpatient treatment to avoid hospital stay is a key factor that is likely to augment the segment. Increase in number of clinics with advanced treatment options for warts is anticipated to drive the segment.
High cost of treatment and long duration of stay in the hospital for the treatment is likely to hamper the hospital segment. The others segment primarily includes homecare and ambulatory surgical centers. Rise in popularity of ambulatory surgical centers and increasing use of OTC products are major factors driving the segment.
North America is estimated to dominate the Global Genital Warts Therapeutics Market
In terms of region, the global genital warts therapeutics market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
In terms of revenue, North America dominated the genital warts therapeutics market followed by Europe. Well-established health care infrastructure, early adoption of advanced products, and presence of key players are major factors that are anticipated to drive the market in the region. Moreover, focus on research & development by leading players is expected to boost the market.
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However, the market in Asia Pacific is estimated to expand at a prominent CAGR during the forecast period due to a significantly large patient population, which is rising. Improvement in health care infrastructure and increase in prevalence of warts are anticipated to drive the market in the region in the near future. According to an article published in the Infectious Agents and Cancer, a study conducted during 2011 to 2012 in the Philippines, the prevalence of genital warts stood at 4.78%; the prevalence was higher among men than women for all age groups.
Key Manufacturers Operating in Market
The global genital warts therapeutics market was highly fragmented in 2019. Key manufacturers operating in the global market are:
Merck & Co., Inc.
Lee's Pharmaceutical Holdings Limited
Taro Pharmaceutical Industries
Serum Institute of India Pvt. Ltd.
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