New York, Sept. 29, 2021 (GLOBE NEWSWIRE) -- Warts Therapeutics Market: Key Insights
According to our new research study on “Warts Therapeutics Market to 2028 – Global Analysis and Forecast – by Type, Treatment, and End User,” the Warts Therapeutics Market Size is projected to reach US$ 2,314.60 million by 2028 from US$ 1,829.54 million in 2021; it is expected to grow at a CAGR of 3.4% during 2021–2028.
Warts Therapeutics Market: Competitive Landscape and Key Developments
Bausch Health Companies Inc.; Nielsen BioSciences, Inc.; Euro Vital Pharma GmbH, Cipla Inc.; Koninklijke Utermöhlen NV; Novan, Inc.; Scholl's Wellness Company; TEVA PHARMACEUTICAL INDUSTRIES LTD; Verrica Pharmaceuticals Inc.; GlaxoSmithKline plc.; and AIM ImmunoTech Inc are among key companies operating in the warts therapeutics market. Leading players are focusing on the new product launch, expansion, and diversification of their market presence, and acquisition of new customer base for tapping the prevailing business opportunities.
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In April 2021, Teva Pharmaceuticals launched the first generic version of Absorica (isotretinoin) capsules for severe recalcitrant nodular acne warts. The oral isotretinoin is a promising therapeutic choice for patients with refractory facial plane warts.
In March 21, Verrica Pharmaceuticals Inc. and Torii Pharmaceutical Co., Ltd. entered into collaboration and license agreement to develop and commercialize product candidates, including VP-102, for a topical formulation of cantharidin for the treatment of molluscum contagiosum and common warts in Japan.
In October 2019, Novan expanded its proprietary product pipeline for external genital warts by submitting request for a pre-investigational new drug (IND) application to the US Food and Drug Administration (FDA) for new product candidate—SB207.
In 2020, North America dominated the global warts therapeutics market. In addition to the rising incidence of warts and HPV infections, the rising adoption of warts therapeutics in the US and increasing research activities in these therapeutics drive the market growth in the region. The US is among largest and fastest-growing market for dermatology treatments in this region. As per the Centers for Disease Control and Prevention (CDC), ~20% of the population had sexually transmitted infections (STI), and total ~42.5 million people were infected with HPV in 2018 in the US. In addition, before HPV vaccination, ~340,000–360,000 women and men were being affected annually by genital warts caused by HPV.
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Based on type, the warts therapeutics market is segmented into common warts, genital warts, flat warts, and others. The common warts segment is the largest shareholder in the market; however, the genital warts segment is expected to register the highest CAGR during the forecast period. By treatment, the warts therapeutics market is segmented into physical destruction, immunomodulation, and chemical destruction. The market for physical destruction is further segmented into cryotherapy, surgical removal, and laser treatment. The immunomodulation is sub segmented into interferons, retinoids, and zinc. The chemical destruction segment is further divided into bleomycin, cantharidin, salicylic acid, and others. The physical destruction segment holds the largest share of the warts therapeutics market and is anticipated to register the highest CAGR in the market during the forecast period. By end user, the warts therapeutics market is segmented into hospitals, homecare, specialty clinics, and others. The hospitals segment is the largest shareholder in the market. However, the homecare segment is estimated to register the highest CAGR in the market during the forecast period.
The rising prevalence of warts is encouraging companies in the life sciences industry to focus on research and development of new drugs for warts treatment. There is a continuous need for new, innovative therapeutic approaches for better treatment outcomes. Verrica is developing VP-102 to treat molluscum contagiosum, common warts, and external genital warts. VP-102 is currently under FDA review, and it could be the first product to treat molluscum contagiosum, a common, highly contagious skin disease that affects ~6 million people in the US. Verrica is also developing VP-103, its second cantharidin-based product candidate, for the treatment of plantar warts. Novan is developing SB206 (currently in phase III clinical trial) as a topical antiviral gel to treat viral skin infections, including external genital warts (EGW) caused by HPV.
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Warts Therapeutics Market: Segmental Overview
The physical destruction segment is anticipated to register the highest CAGR in the warts therapeutics market, by treatment, during the forecast period.
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