Genital warts refer to sexually transmitted infection that are usually caused due to Human Papilloma Virus (HPV). HPV is also known to cause some types of cancer as well. However, the type of HPV that causes genital warts does not usually cause cancer. Moreover, sexually transmitted infections or STIs are infections that spread through vaginal, oral, or anal transmissions or through close sexual contact. However, many people infected with HPV never even develop genital warts. If warts do develop, they usually appear within few months of infection. But sometimes, the warts may appear years later.
Increasing prevalence of (HPV) infection, which is the reason for the development of genital warts, is expected to drive the growth of the global genital warts treatment market over the forecast period.
According to the World Health Organization (WHO): 2019, more than 1 million sexually transmitted infections (STIs) are acquired every day worldwide and more than 290 million women have a human papillomavirus (HPV) infection
The global genital warts treatment market is estimated to be valued at US$ 1,628.9 million in 2021 and is expected to exhibit a CAGR of 4.7% over the forecast period (2021-2028).
Figure 1. Global Genital Warts Treatment Market Share (%) in Terms of Value, By Region, 2021
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Market players are indulged in launching new treatment platforms that are expected to increase the growth of the global genital warts treatment market over the forecast period.
For instance, in 2019, GenieMD, a global provider of telemedicine services, launched their telemedicine app iVisit that would allow patients to be diagnosed and treated for genital warts via virtual visit with the physician.
For instance, in August 2018, Oceanside Pharmaceuticals, a company which provides pharmaceutical services, launched an authorized generic version of Bausch Health’s Zyclara (imiquimod) 3.75% cream pump. Zyclara (imiquimod) 3.75% is indicated for the topical treatment of external genital and perianal warts/condyloma acuminata (EGW) in patients of age 12 years or older.
Genital Warts Treatment Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2020 | Market Size in 2021: | US$ 1,628.9 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
Forecast Period 2021 to 2028 CAGR: | 4.7% | 2028 Value Projection: | US$ 2,253.6 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee's Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG |
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Growth Drivers: |
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Restraints & Challenges: |
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Figure 2. Global Genital Warts Treatment Market Share (%), by Drug Type, 2021
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Increasing research and development in order to develop treatment for genital warts is expected to increase the growth of the global genital warts treatment market over the forecast period.
For instance, University of Pretoria, South Africa, in collaboration with University of Stellenbosch, South Africa, are currently conducting clinical trials in order to study the effectiveness of human papilloma virus (HPV) vaccine against the occurrence of genital warts. The study was initiated in the year 2018 and is expected to be completed by 2023. Currently, the study is in the Phase III clinical trial.
Global Genital Warts Treatment Market Restraint
Even though the prevalence of warts is high among the global population, its diagnosis rate is still low. The low diagnostic rate of genital warts is due to the lack of awareness about the infection, which may hamper the genital warts treatment market growth. For instance, according to the Health Protection report in 2018, the rate of genital warts’ diagnosis in England among girls aged 15 to 17 years, who were attending sexual health services, decreased by 92%, as compared to that in 2014. Moreover, existing treatment procedures are often painful or invasive, and can have undesirable outcomes such as scarring or dyspigmentation that often requires repeat visits. This results in decrease in the diagnostic rate, which in turn, is likely to restrain the genital warts therapeutics market.
Furthermore, there are no specific treatments available for genital warts. The most commonly used treatments are cauterization and freezing. On the other hand, the topical skin medications that are usually prescribed for the treatment of warts are commonly prescribed for skin conditions and skin cancers as well.
According to the National Center for Biotechnology Information (NCBI) report in 2018, in most of the cases, the immune system clears the warts within a few months. But even if the warts go away, the HPV might still be active in the body. So the warts can come back after few months or years.
Key Players
Major players operating in the global genital warts treatment market include Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee's Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG
Frequently Asked Questions
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