Warts Therapeutics Market: Introduction
- Wart is a dermatological infectious disease caused by a virus that belongs to the Human Papiloma Virus (HPV) family. Warts are small growth formed on skin on any part of the body, which looks like a solid blister. Warts is an extremely common disease that affects teens and children. It is less common in adults. Warts is harmless, but is highly contagious. People with compromised immune system are more susceptible to warts.
- There are different types of warts based on the location of the growth of warts. These include flat warts, platter warts, common warts, periungual warts, filiform warts, and genital warts.
- Most warts disappears on their own. Common treatments for warts include the use of salicylic acid either in liquid or in patch, taping, freezing, immunotherapy drugs, minor surgery, laser therapy, and over-the-counter medications.
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Key Drivers of Global Warts Therapeutics Market
- The global warts therapeutics market is primarily driven by high prevalence of warts across the globe. It is estimated that approximately 25% of the world population have warts at some point in their lifetime. Moreover, around 1 in 3 children have warts, while only 3% to 5% of adults have warts.
- Easy availability of over-the-counter drugs for warts treatment, high awareness about warts, low cost of treatment, etc., are likely to drive the warts therapeutics market during the forecast period
Genital Warts Segment to Offer Attractive Opportunities
- Based on wart type, the global warts therapeutics market can be divided into common warts, genital warts, and flat warts. Genital warts is likely to be the leading segment during the forecast period.
- Genital warts develop on and around pubic and anal area, groin, and appear in small, reddish brown color. These usually form in cluster of three to four and spread rapidly to other areas. Genital warts may cause mild pain and may lead to bleeding. HPV infection is one of the most common sexually transmitted disease in western countries.
- Common warts develop on the skin of fingers and toes, but can appear anywhere on the body. These are round in shape, rough to touch, and have a grainy appearance. Common warts often look like black dots, which are clotted small blood vessels.
- Out of the total warts infected population, the common warts type is highly prevalent and transmitted by touch. Common warts are usually harmless and disappear on their own, but most people seek treatment, owing to appearance and embarrassment.
- Flat warts are smaller than other forms of warts and most commonly observed in teens and children. Flat warts commonly develop on the face and sometimes may develop on legs, especially in females.
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Salicylic Acid Drug Type Segment to Dominate Global Market
- In terms of drug type, the warts therapeutics market can be segmented into salicylic acid, immunotherapy drug, and trichloroacetic acid. The salicylic acid drug type segment is estimated to dominate the global market during the forecast period.
- Salicylic acid is an over-the-counter medication available for the treatment for warts. It is available in different forms, such as gel, ointment, and pads. Salicylic acid is used as the first line of treatment to cure warts.
- Immunotherapy drugs used is bleomycin and injected into the wart tissue to kill the HPV virus. The most commonly prescribed immunotherapy drugs are Aldara and Zyclara.
Asia Pacific a Rapidly Expanding Warts Therapeutics Market
- In terms of region, the global warts therapeutics market can be segmented into: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
- The warts therapeutics market in Asia Pacific is projected to expand at high CAGR during the forecast period. The growth of the warts therapeutics market in Asia Pacific can be attributed to high prevalence of warts in densely populated countries, such as India, China, and Hong Kong, rapidly changing health care infrastructure, and significantly high infection rates with HPV in the region.
- North America is likely to dominate the global warts therapeutics market during the forecast period. However, it is estimated to marginally lose its market share by the end of 2027.
- High prevalence of warts in teenagers, awareness about warts, and easy availability of treatment and medication, among other factors are estimated to drive the North America warts therapeutics market during the forecast period
Key Players Operating in Global Market
The global warts therapeutics market is highly fragmented with a large number of domestic players holding key share of the market. Some of the key players operating in the global warts therapeutics market are:
- Pfizer Inc.
- Teva Pharmaceutical Industries
- Novartis AG
- Mylan NV
- Aurobindo Pharma Limited
- LEO Pharma A/S
- Eli Lilly and Company
- Bristol-Myers Squibb Company
- Taro Pharmaceutical Industries Ltd.
- Bausch Health Companies, Inc.
Global Warts Therapeutics Market: Research Scope
Global Warts Therapeutics Market, by Wart Type
- Common Warts
- Genital Warts
- Flat Warts
Global Warts Therapeutics Market, by Drug Type
- Salicylic Acid
- Immunotherapy Drug
- Trichloroacetic Acid
Global Warts Therapeutics Market, by Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
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