A recent FMI analysis projects that the size of the worldwide common warts market will grow at a 3.6% CAGR from 2023 to 2033. By the end of the previously mentioned evaluation period, the market is expected to be valued US$ 1,100 million. The market is rising as a result of increased pharmaceutical R&D efforts for the targeted and effective treatment of common warts. There are a lot of scientific research being conducted on treatment methods such intralesional vitamin D3.
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:
- 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.
Key Segments:
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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