Common Warts Therapeutics Market: Introduction
- Common warts, or cutaneous warts, are abnormal epithelial growth in the skin and mucous membrane. Common warts are known to be caused by the Human Papilloma Virus (HPV). They can increase or decrease in size and number spontaneously, depending on the patient’s immunity and infection severity.
- Common warts are small, grainy skin growths that most commonly occur on the fingers or the hands. They are caused due to virus infection and are transmitted by touch. The virus invades the outer layer of the skin through a tiny scratch and causes rapid growth of the cells on the outer layer of the skin, creating a wart.
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Key Drivers and Restraints of Global Common Warts Therapeutics 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 number of people with cancer increases the prevalence of warts and consequently, drives the market.
- Increase in number of HPV infections fuels the risk of warts and subsequently, boosts the market. For instance, according to the Anal Cancer Foundation, an estimated 14 million people are infected with HPV in the U.S., each year. According to 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 they typically develop approximately 2 to 3 months after HPV infection.
- 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. Thus, an increase in recurrence rate of warts boosts the utilization of products and treatment. This, in turn, is expected to drive the common warts therapeutics market.
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Prescription Medications & Cryotherapy to Lead Global Common Warts Therapeutics Market
- The global common warts therapeutics market can be segmented based on treatment type, end-user, and region
- In terms of treatment type, the global common warts therapeutics market can be divided into prescription medications, freezing (cryotherapy), chemical destruction through acids, surgical removal, and laser therapy. Prescription-strength wart medications with salicylic acid function by slowly removing layers of a wart. This treatment is found to be quite effective in combination with cryotherapy.
- Based on end-user, the global common warts therapeutics market can be categorized into hospitals, clinics, and homecare settings
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Asia Pacific to be Lucrative Market
- The global common warts therapeutics market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Expansion of the market in North America is attributed to an increase in research & development activities by pharmaceutical companies, rapid rate of adoption of treatment in healthcare facilities, and a rise in awareness about the effects of common warts. Government support to create awareness regarding sexually transmitted diseases, rise in demand for advanced therapeutics, increase in prevalence of HPV infections, rising economy, and change in sexual lifestyles in the region are major factors driving the common warts therapeutics market in Asia Pacific.
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Key Players Operating in Global Common Warts Therapeutics Market
Leading players in the global common warts therapeutics market are:
- Teva Pharmaceutical Industries Ltd
- Bausch Health Companies, Inc.
- Verrica Pharmaceuticals
- Scholl’s Wellness Co.
- GlaxoSmithKline plc
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