by Genital warts, also known as condyloma acuminata, are the most commonly diagnosed viral sexually transmitted infection caused by human papillomavirus (HPV). HPV infects the moist epithelial surfaces of the genital areas, including the skin of the penis, vulva, or anus. Genital warts can range in size, shape, and number. They are sometimes soft and flesh-colored, or cauliflower like growths. Left untreated, genital warts may cause physical discomfort, psychological distress, and social embarrassment.
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 6.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Increasing prevalence of penile HPV infection rates is one of the major drivers of the genital warts treatment market. As per the CDC, HPV is the most common sexually transmitted infection in the United States. It is estimated that approximately 79 million Americans are currently infected with HPV and about 14 million people become newly infected each year. In men, HPV infection may lead to genital warts or cancers of the penis and anus. Rising awareness about HPV related diseases and availability of effective treatment options are also fueling the growth of the genital warts treatment market.
SWOT Analysis
Strength: Genital warts market is experiencing high growth due to rising incidence of human papillomavirus (HPV) infection worldwide. The disease has associated stigma which motivates patients to promptly seek treatment.
Weakness: Lack of awareness about symptoms and prevention of genital warts hampers early diagnosis and treatment. Social taboos linked to the disease prevents patients from openly discussing it.
Opportunity: Untapped markets in developing countries offer lucrative opportunities for manufacturers. Advancements in treatment technologies such as laser therapy and photodynamic therapy (PDT) provide new avenues for market players.
Threats: HPV vaccination programs worldwide may reduce incidence of genital warts over the long-run. Stringent regulatory pathways for new treatments increase costs and times to market.
Key Takeaways
The Global Genital Warts Treatment Market Size is expected to witness high growth over the forecast period. 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 6.3% over the forecast period 2023 to 2030
Regionally, North America dominates currently due to significant disease prevalence and advanced healthcare systems. The Asia Pacific region is likely to grow at the fastest pace during the analysis period supported by expanding medical tourism industries and improving access to diagnosis and care.
Key players operating in the genital warts treatment market include DJO Global, Inc., BSN medical (now part of Essity), Smith & Nephew plc, medi GmbH & Co. KG, SIGVARIS Group, Bio Compression Systems, Inc., Tactile Medical, RIKEN SEIKI CO., LTD., Paul Hartmann AG, 3M Company, Gottfried Medical, Inc., Mego Afek AC Ltd., Abov Semiconductor, Persys Medical, BTL Industries, Human Meditek Co., Ltd., Huntleigh Healthcare Limited (part of Arjo), KCI Licensing, Inc., Beijing Huibo Medical Device Co., Ltd., and Bioinicia S.L. Major players focus on new product launches with improved efficacy, safety and cost profiles to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
