A recently published study by FMI expects the global Common Warts Market to augment at a 3.6% CAGR from 2023 to 2033. By the end of the said assessment period, a valuation of US$ 1,100 Million is expected for the market. The increase in pharmaceutical R&D activity for efficient and focused treatment of common warts is propelling market rise. A number of clinical studies for therapy approaches such as intra-lesional vitamin D3 are being investigated.
Moreover, the recurrence of the illness after surgery and therapy can be exploited to build a permanent treatment for warts. Furthermore, the market is impacted by a high number of acquisition strategies and firm alliances for developing novel therapies, as well as a rise in investment for R&D. Each form of wart is connected with a separate and specific HPV, which may be created by identifying and creating a tailored vaccination against the virus. Because of the introduction of novel treatment alternatives, the North American market is predicted to account for the greatest revenue share over the projection period.
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Additionally, higher healthcare spending, as well as the availability of treatment options, would serve to accelerate the speed of market development in this field. Furthermore, increased illness awareness has caused the industry to expand. These factors are projected to fuel revenue growth in the region’s common warts market throughout the forecast period.
Key Takeaways from the Market Study
- FMI projects the global Common Warts market to expand at a 3.6% value CAGR by 2033
- The global Common Warts market is estimated at a market value of US$ 770 Million
- The global Common Warts market is expected to garner a market value of US$ 1100 Million
- As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 3% in the assessment period 2023-2033.
- North America is expected to grow at a CAGR of 3.5% in the assessment period 2023-2033.
- Europe is expected to grow at a CAGR of 3.3% in the assessment period 2023-2033.
- The Salicylic Acid segment is expected to hold the largest market share for common warts in the forecast period 2023-2033.
“In 2021, North America held the biggest market share of the global Common Warts market. During the predicted period, this tendency is likely to continue. The increased knowledge of numerous treatment options, as well as the introduction of new medicines in this area, is expected to drive the growth of the Common Warts market in North America,” says an analyst at FMI
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Market Competition
Key players in the common warts market are Nielsen BioSciences, Verrica Pharmaceutical, Aclaris Therapeutics, Inc., KinoPharma, Inc., pHion Therapeutics, Orgenesis, Novan, Cassopeia Pharmaceuticals, Innovax and Torii Pharmaceutical Co. Ltd.
- In March 2020, Verrica Pharmaceuticals Inc. and Torii Pharmaceutical Co., Ltd. announced a cooperation and licence agreement to develop and sell product candidates, including VP-102, for a topical formulation of cantharidin for the treatment of molluscum contagiosum and common warts in Japan.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the global automotive axle market, presenting historical analysis from 2017 to 2022 and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of Diagnosis (Biopsy and Excision), Drug Type (Imiquimod, Silver Nitrate, Glutaraldehyde, Salicylic Acid, Formaldehydel and Aminolevulinic Acid), Medication Class (Topical Retinoids and Oral Retinoids), across five major regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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About the Healthcare at Future Market Insights
The healthcare team at Future Market Insights offers expert analysis, time efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis on key trends including competitive landscape, profit margin, and research development efforts.
Key Segments Profiled in the Common Warts Industry Survey
Common Warts Market by Diagnosis:
- Biopsy
- Excision
Common Warts Market by Drug Type:
- Imiquimod
- Silver Nitrate
- Glutaraldehyde
- Salicylic Acid
- Formaldehydel
- Aminolevulinic Acid
Common Warts Market by Medication Class:
- Topical Retinoids
- Oral Retinoids
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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