Warts Therapeutics Global Market Report 2024

The warts therapeutics market size has grown steadily in recent years. It will grow from $1.91 billion in 2023 to $1.98 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth observed in the historic period can be attributed to various factors, including the use of salicylic acid, the development of cryotherapy, the evolution of topical treatments, surgical interventions, and the emergence of immunotherapy. These advancements and treatment modalities contributed to the historical growth of wart therapeutics.

The warts therapeutics market size is expected to see steady growth in the next few years. It will grow to $2.29 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The anticipated growth in the forecast period for wart therapeutics can be attributed to various factors, including the application of precision medicine for HPV, innovations in laser therapy, the exploration of combination therapies, the integration of digital health solutions, and initiatives aimed at improving healthcare accessibility. Key trends expected during the forecast period include the development of targeted antiviral therapies, ongoing research in gene editing, the use of biodegradable delivery systems, a focus on psychodermatology, and other innovative approaches in the field of wart therapeutics.

The wart therapeutics market is anticipated to experience growth, driven by the increasing emphasis on vaccinations for warts. Vaccination involves introducing a vaccine to develop antibodies against infections, particularly warts caused by the human papillomavirus (HPV). Therapeutic or prophylactic vaccines against HPV play a crucial role in preventing wart formation. The focus on vaccinations has led to a positive trend, as reported by the World Health Organization in July 2023, indicating a reduction in zero-dose children from 18.1 million in 2021 to 14.3 million in 2022. Furthermore, global coverage for the initial dose of the HPV vaccine in girls increased from 16% in 2021 to 21% in 2022, driving the growth of the wart therapeutics market.

The growth of the wart therapeutics market is expected to be fueled by increased accessibility to healthcare services. Healthcare services, encompassing medical care and treatment, utilize wart therapeutics to address common skin conditions resulting from HPV. These treatments aim to alleviate symptoms, promote healing, and prevent the spread of warts, contributing to overall well-being. Notably, according to the Organization for Economic Co-operation and Development (OECD) in 2023, healthcare spending in OECD countries accounted for 9.7% of GDP in 2021, reflecting a rise from 9.6% in 2020. This increased accessibility to healthcare services is a key driver of the wart therapeutics market.

A significant trend in the wart therapeutics market is the focus on product innovation by companies striving to maintain a competitive edge. Verrica Pharmaceuticals Inc., a US-based dermatology therapeutics company, exemplifies this trend with its announcement in February 2023. The FDA accepted the resubmitted New Drug Application (NDA) for VP-102, a drug-device combination product delivering cantharidin for precise topical dosing and targeted administration to treat molluscum contagiosum, a type of wart.

Major companies in the wart therapeutics market are engaging in strategic partnerships to support clinical trials and advance research. Vial, a US-based pharmaceuticals company, partnered with Nielsen BioSciences Inc. in June 2023 to study the safety and efficacy of CANDIN for treating common warts. This collaborative approach aims to contribute to the development of new therapies and devices for wart treatment.

In January 2021, Iwaki Seiyaku Co., Ltd., a Japan-based pharmaceutical company, acquired new shares in KinoPharma Inc., focusing on developing drug formulations for wart treatment caused by HPV. This strategic partnership enhances the supply chain of active pharmaceutical ingredients (APIs) for antiviral drugs, particularly within the dermatology sector. KinoPharma, Inc. is a Japan-based therapeutics company specializing in warts caused by HPV.

Major companies operating in the warts therapeutics market report are Pfizer Inc., GlaxoSmithKline PLC, Merck & Co. Inc., Verrica Pharmaceuticals Inc., Bausch Health Companies Inc., Dr. Reddy's Laboratories Ltd., Cipla Inc., Prestige Consumer Healthcare Inc., Maruho Co. Ltd., Taro Pharmaceutical Industries Ltd., Aclaris Therapeutics Inc., Novan Inc., Scholl's Wellness Co, Orgenesis, AIM ImmunoTech Inc., Nielsen BioSciences Inc., KinoPharma Inc., pHion Therapeutics, RXi Pharmaceuticals, Phio Pharmaceuticals Corp., MedCara Pharmaceuticals, Compound W, Duofilm, Curad Mediplast, Euro Vital Pharma GmbH, Koninklijke Utermöhlen NV.

North America was the largest region in the warts therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the warts therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the warts therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of warts in wart therapeutics include common warts, genital warts, flat warts, and others. Common warts are small, raised skin growths typically found on the hands or fingers. Treatment approaches for common warts involve physical destruction, immunomodulation, and chemical destruction. Wart therapeutics are employed in diverse healthcare settings, including hospitals, homecare, specialty clinics, and others.

The warts therapeutics market research report is one of a series of new reports that provides warts therapeutics market statistics, including the warts therapeutics industry global market size, regional shares, competitors with an warts therapeutics market share, detailed warts therapeutics market segments, market trends, and opportunities, and any further data you may need to thrive in the warts therapeutics industry. This warts therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The warts therapeutics market consists of sales of therapeutic drugs such as 5-fluorouracil, benzalkonium, glutaraldehyde, cryotherapy, or podophyllin. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.