The Insight Partners Latest Research for Report “Warts therapeutics market was valued US$ 1,829.54 million in 2021, it is estimated to grow at a CAGR of 3.4% from 2021 to 2028.”
Genital Warts Type to Lead Warts Therapeutics Market During 2021–2028
The report highlights the key factors driving the market growth and prominent players with their developments in the market. The growth of the warts therapeutics market is primarily attributed to the rising prevalence of human papillomavirus infections and recurrence of genital warts, and development of new products. However, poor diagnostics scenario in low-income countries hinders the market growth.
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The report segments warts therapeutics market as follows:
The warts therapeutics market has been segmented on the bases of type, treatment, and end user. Based on type, the market is segmented into common warts, genital warts, flat warts, and others. Based on treatment, the 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. Moreover, the market for the immunomodulation is further segmented into interferons, retinoids, and zinc. The warts therapeutics market for chemical destruction is further segmented into bleomycin, cantharidin, salicylic acid, and others. By end user, the warts therapeutics market is sub segmented into hospitals, homecare, specialty clinics, and others.
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 in the market during the forecast period.
The COVID-19 pandemic has negatively impacted the warts therapeutics market in Africa. In Africa, COVID-19 has threatened the control and progress of major high-burden diseases such as HIV, and other sexually transmitted diseases (STIs). With the continuous spread of COVID-19 in Africa, the limited testing, and decreased access to expert STI clinical further fueling an STI epidemic especially among marginalized populations.
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The developments in the warts therapeutics market have been characterized as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as launches, expansion, enhancement as well as relocation. Inorganic growth strategies witnessed in the market were mergers & acquisitions, partnership, collaborations, alliance, and agreement & joint ventures. These activities have paved way for expansion of business and customer base of market players.
Market leaders operating in the market have undertaken various organic growth strategies in the warts therapeutics market. The Warts Therapeutics market majorly consists of the players 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. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers & acquisitions, partnership, and collaborations.
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