According to a recent FMI analysis, the worldwide Common Warts Market Demand would grow at a 3.6% CAGR from 2023 to 2033. The market is anticipated to be valued at US$ 1,100 million by the end of the assessment period. The rise in pharmaceutical R&D activities for efficient and targeted treatment of Common Warts is driving market growth. A variety of clinical trials are being conducted to evaluate therapeutic techniques such as intra-lesional vitamin D3.
The number of immunocompromised persons increased during the COVID pandemic, resulting in market expansion. However, the global Common Warts market may be constrained by high treatment costs and a scarcity of treatment options. Factors such as the growing geriatric population are expected to drive market revenue growth during the forecast period. The increasing number of persons identified with warts as a result of advances in diagnostics and HPV infections is a primary driver driving market expansion.
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Each year, 340,000 to 360,000 persons are infected by HPV-related genital warts, according to the Centres for Disease Control and Prevention. In the United States, about one in every 100 sexually active people has genital warts at any given moment. Furthermore, the growing prevalence of warts in the general population is predicted to expand the market for Common Warts. Furthermore, the market is growing as a result of an increase in scientific experiments done by various pharmaceutical companies, as well as an increased need for specific therapy to address various concerns caused by Common Warts. These are the factors propelling the Common Warts industry ahead.
Common Warts Market Drivers:
People with weakened immune systems due to organ transplants, serious illnesses such as cancer or AIDS, and atopic disorders are more likely to develop warts. As a result, a rise in the number of cancer patients increases the prevalence of warts, propelling the market for Common Warts.
As the incidence of HPV infections rises, so does the risk of warts and, as a result, the market. The Anal Cancer Foundation estimates that 14 million people in the United States are infected with HPV each year. According to the Centres for Disease Control and Prevention, HPV-caused genital warts affect around 340,000 to 360,000 women and men in the United States each year, and they typically emerge 2 to 3 months after HPV infection.
Common Warts Market Restraints:
The expansion of the worldwide Common Warts market is anticipated to be impeded by a lack of knowledge of the diagnosis, which results in fewer reported instances and, as a result, less relevance for treatment choices. Although the frequency of warts is increased, the diagnostic rate in patients is low.
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For example, according to the 2018 Health Protection Report, the prevalence of genital warts diagnosis among girls aged 15 to 17 in England accessing sexual health services reduced by 92% compared to 2014.
Common Warts Market Regional Insights:
Key drivers of the Asia Pacific Common Warts market include government support to promote awareness about sexually transmitted diseases, an increase in demand for sophisticated therapies, an increase in the prevalence of HPV infections, a rising economy, and a shift in sexual behaviours in the region. According to Future Market Insights, Asia Pacific is predicted to develop at a CAGR of 3% from 2023 to 2033.
The growth of the North American market can be attributed to an increase in pharmaceutical firms’ R&D activities, a high rate of treatment acceptance in healthcare facilities, and an increase in understanding about the effects of Common Warts. North America is predicted to increase at a CAGR of 3.5% between 2023 and 2033.
Common Warts Market Competition:
Major Players:
- Nielsen BioSciences
- Verrica Pharmaceutical
- Aclaris Therapeutics, Inc.
- KinoPharma, Inc.
- pHion Therapeutics
- Orgenesis
- Novan
- Cassopeia Pharmaceuticals
- Innovax
- 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.
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