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.
For Right Perspective & Competitive Insights on Genital Warts Therapeutics Market, Request for a Sample
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.
- 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.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
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.
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.
- 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.
- Bausch Health
- Lee's Pharmaceutical Holdings Limited
- Taro Pharmaceutical Industries
- Novan Inc
- Serum Institute of India Pvt. Ltd.
Genital Warts Therapeutics Market: Research Scope
Genital Warts Therapeutics Market, by Treatment type
- Physical Destruction
- Chemical Destruction
Genital Warts Therapeutics Market, by End-user
Genital Warts Therapeutics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.