by The global Genital Warts Treatment Market is estimated to be valued at US$ 1785.61 Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Genital warts treatment products include creams, lotions, gels and solutions that are topically applied to infected skin areas. These products aim to destroy or remove visible genital warts caused due to human papillomavirus (HPV) infection through various mechanisms such as destroying or removing tissues containing HPV.
Market key trends:
One of the key trends in the genital warts treatment market is the increasing demand for minimally invasive treatments. Minimally invasive treatments such as cryotherapy, laser therapy and photodynamic therapy are gaining higher acceptance over traditional surgical removal procedures due to benefits such as shorter recovery time, fewer side effects and lesser pain associated with treatment. Among these, cryotherapy using liquid nitrogen is one of the most commonly adopted minimally invasive treatment options for genital warts as it is a quick outpatient procedure and highly effective in destroying the visible warts with minimal side effects.
SWOT Analysis
Strength: Genital warts treatment has various treatment options available to effectively cure the infection in patients. Cryotherapy offers a non-invasive procedure to freeze and remove warts.
Weakness: Cost of treatment varies depending on the type of genital warts and treatment options chosen. Recurrence of genital warts is also common in many patients even after initial treatment.
Opportunity: Rising prevalence of HPV infection worldwide and growing awareness about preventing sexually transmitted diseases presents growth opportunities. Ongoing research on new drugs and therapies to improve treatment efficacy further.
Threats: Social stigma associated with genital infections poses challenges in diagnosis and treatment. Lack of symptoms in early-stage also leads to delayed treatment in many cases.
Key Takeaways
The global Genital Warts Treatment Market Growth is expected to witness high growth, exhibiting CAGR of 4.7% over the forecast period, due to increasing prevalence of HPV infection worldwide. The global genital warts treatment market size for 2023 is estimated to be US$ 1785.61 Mn.
Regional analysis
North America is currently the dominating region for the genital warts treatment market and is estimated to continue its dominance during the forecast period. This can be attributed to the growing cases of HPV infection, availability of advanced treatment options, and presence of major market players in the region. The Asia Pacific region is anticipated to exhibit the highest growth rate during the forecast period owing to rising awareness about STDs and growing healthcare expenditure.
Key players
Key players operating in the genital warts treatment market are Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee’s Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG. These players are engaged in various organic and inorganic growth strategies such as new product launches, collaborations, and acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
