DUBLIN–(BUSINESS WIRE)–The “Global Warts Therapeutics Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type (Common Warts, Genital Warts, Flat Warts, and Others), Treatment (Physical Destruction, Immunomodulation, and Chemical Destruction), and End User” report has been added to ResearchAndMarkets.com’s offering.
The warts therapeutics market is projected to reach US$ 2,314.60 million by 2028 from US$ 1,829.54 million in 2021; it is expected to grow at a CAGR of 3.4% from 2021 to 2028.
The growth of the market is primarily attributed to the rising prevalence of human papillomavirus infections and recurrence of genital warts, and development of new products. Moreover, increasing awareness regarding sexually transmitting infections (STIs) is expected to foster the market growth during the forecast period. However, the poor diagnostics scenario in low-income countries hinders the market growth. The medical practices worldwide continue to adapt to the challenges of COVID-19. Pandemic has been challenging the already overburdened and underfunded public healthcare systems of South and Central America. With a vast population living in poverty, South and Central American countries continuously face widespread health problems due to overcrowding, limited sanitation, food insecurity, and unpredictable environmental conditions. Underfunded state-run hospitals are the only source of medical care in the region. The lack of resources is further adding to the difficulties in the region, thus limiting the wart therapeutics market growth.
Based on type, the warts therapeutics market is segmented into common warts, genital warts, flat warts, and others. The common warts segment is the largest shareholder in the market; however, the genital warts segment is expected to register the highest CAGR during the forecast period. By treatment, the warts therapeutics market is segmented into physical destruction, immunomodulation, and chemical destruction. The market for physical destruction is further segmented into cryotherapy, surgical removal, and laser treatment. The immunomodulation is sub segmented into interferons, retinoids, and zinc. The chemical destruction segment is further divided into bleomycin, cantharidin, salicylic acid, and others. The physical destruction segment holds the largest share of the warts therapeutics market and is anticipated to register the highest CAGR in the market during the forecast period. By end user, the warts therapeutics market is segmented into hospitals, homecare, specialty clinics, and others. The hospitals segment is the largest shareholder in the market. However, the homecare segment is estimated to register the highest CAGR in the market during the forecast period.
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Market Dynamics
Drivers
- Rising Prevalence of Human Papillomavirus Infections and Recurrence of Genital Warts
- New Product Developments
Restraints
- Poor Diagnostics Scenario in Low-Income Countries
Opportunities
- Increasing Awareness Regarding STIs
Future Trends
- Emergence of New Technologies
Companies Mentioned
- Bausch Health Companies Inc.
- Nielsen BioSciences, Inc.
- Euro Vital Pharma GmbH
- Cipla Inc.
- Koninklijke Utermohlen NV
- Novan, Inc.
- Scholl’s Wellness Company
- TEVA PHARMACEUTICAL INDUSTRIES LTD
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