Molluscum Contagiosum Market: Introduction
- Molluscum contagiosum is a skin infection caused by a poxvirus (molluscum contagiosum virus), which is usually benign. Appearance of lesions anywhere on the body is a characteristic of mild skin disease. These lesions are Mollusca and are small, raised, and usually white, pink, or flesh-colored with a pit at the center. The size of the Mollusca ranges from 2 mm to 5 mm in diameter.
- The lesions primarily appear on the face, neck, arms, legs, abdomen, and genital area. These are not found on hands or soles of the feet. However, the virus remains in the top layer of skin and is not circulated throughout the body. It can remain dormant in the body for long periods and could reoccur.
- The virus spreads from direct person-to-person physical contact and through contaminated fomites. It could spread through sharing of baths, swimming pools, saunas, or other wet environments.
- Secondary infection caused by bacteria is the major complication of the virus. It is a significant problem among immunocompromised patients, such as patients with HIV/AIDS.
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Key Drivers of Global Molluscum Contagiosum Market
- Increase in number of approvals for new drugs from regulatory authorities such as the Food and Drug Administration (FDA), rise in emphasis on research & development, and promising drugs under pipeline are the various factors expected to drive the global molluscum contagiosum market
- In December 2019, the FDA accepted Verrica Pharmaceuticals’ New Drug Application filing for cantharidin 0.7% topical solution. The solution is indicated for the treatment of molluscum contagiosum. The company is the first to receive such approval and plans to market the drug if approved by the agency.
Topical Therapies Segment to Account for Major Share of Global Market
- In terms of therapy, the global molluscum contagiosum market can be classified into cryotherapy, curettage, immune-modulating therapies, topical therapies, and others
- The topical therapies segment is anticipated to dominate the global market during the forecast period, owing to ongoing R&D activities by prominent players and increase in awareness about topical therapies for molluscum contagiosum among patients
Skin Clinics to be Highly Attractive Segment
- Based on end-user, the global molluscum contagiosum market can be categorized into hospitals, skin clinics, and others
- The skin clinics segment is expected to account for significant share of the global molluscum contagiosum market by 2027. High prevalence of the disease, especially in countries in Europe such as the U.K., Germany, and Spain, is projected to boost the growth of the segment.
North America to Dominate Global Molluscum Contagiosum Market
- In terms of region, the global molluscum contagiosum market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is projected to dominate the global molluscum contagiosum market during the forecast period. Strengthening of R&D by prominent players in the U.S., high adoption of topical medications for various skin problems, and rise in expenditure on new drug development are the various factors projected to propel the market in North America
- In March 2018, CVS Pharmacy selected ZymaDerm, a topical treatment for molluscum contagiosum, for sale at its retail stores. It is a fast-acting, painless treatment for the disease and is widely accepted in the U.S.
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Key Players Operating in Global Molluscum Contagiosum Market
The global molluscum contagiosum market is highly fragmented, with a large number of domestic players accounting for majority share. Key players operating in the global molluscum contagiosum market are:
- Verrica Pharmaceuticals
- Novan, Inc.
Global Molluscum Contagiosum Market: Research Scope
Global Molluscum Contagiosum Market, by Therapy
- Immune-modulating Therapies
- Topical Therapies
Global Molluscum Contagiosum Market, by End-user
- Skin Clinics
Global Molluscum Contagiosum 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.