Viral Warts Treatment Market size was over USD 772.3 million in 2023 and is poised to cross USD 1.23 billion by 2036, witnessing more than 3.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of viral warts treatment is evaluated at USD 795.16 million. The growth of the market can be attributed to the growing prevalence of skin disorders across the world, and rapid growth in the number of cases of people suffering from warts. As of August, 2021, warts affect approximately 10 percent of the population around the world. The prevalence of the diseases is as high as 10 percent to 20 percent in young children.
Along with these, rise in clinical trials conducted by various pharmaceutical companies, and surge in investments for developing specific and sophisticated treatment for viral warts are also crucial factors expected to boost the growth of the market in the upcoming years. Furthermore, escalating developments in the healthcare sector in developed and developing nations, coupled with increasing population are projected to offer lucrative opportunities for viral warts treatment market growth in the near future.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
3.7% |
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Base Year Market Size (2023) |
USD 772.3 million |
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Forecast Year Market Size (2036) |
USD 1.23 billion |
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Regional Scope |
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The market is segmented by treatment into physical destruction, chemical destruction, immunomodulation, and others, out of which, the physical destruction segment is anticipated to hold the largest share in the viral warts treatment market. This can be accounted to the fact that physical destruction, such as cryotherapy with liquid nitrogen, represents the first line of treatment for different types of warts, providing cure rates of 50 percent to 80 percent. Apart from this, the immunomodulation segment is also assessed to grab a significant share over the forecast period ascribing to the low cost, readiness in availability and low chance of complications associated with this type of treatment. Additionally, on the basis of end user, the specialty clinics segment is predicted to acquire the largest share by the end of 2030, which can be credited to the growing preference of people to pursue treatment in a facility specializing in the treatment of the disorder.
Our in-depth analysis of the global market includes the following segments:
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By Treatment |
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By Mode of Administration |
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By Drug Distribution Channel |
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End-User |
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On the basis of geographical analysis, the global viral warts treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the North America industry is likely to hold largest revenue share by 2036, owing to rising awareness regarding different treatment options, well-established healthcare infrastructure and high healthcare spending in the region. As per the data provided by the Centers for Disease Control and Prevention, the total national health expenditure in the United States accounted for a value of USD 3.6 trillion in 2018, or USD 11,172 per capita. The total value of the same as share of GDP was 17.7 percent that year. In addition, increase in drug approvals is also expected to boost the region’s viral warts treatment market growth in the coming years. Moreover, the market in Europe is also predicted to acquire a notable share during the forecast period, which can be credited to the growing research and development activities in the healthcare sector, and presence of prominent viral warts treatment market players in the region.
September 2021- Mylan received approval from the Subject Expert Committee of the Central Drugs Standard Control Organization, or CDSCO, for importing and marketing Cutaneous Cryogenic Spray of Endwarts Freeze and Endwarts Freeze XL.
December 2020- Verrica Pharmaceuticals announced the resubmission of New Drug Application (NDA) for VP-102 for the treatment of molluscum contagiosum (molluscum) to the U.S. Food and Drug Administration (FDA).
Author Credits: Radhika Pawar
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