The global Common Warts Market garnered a market value of USD 770 Million in 2023 and is expected to accumulate a market value of USD 1100 Million by registering a CAGR of 3.6% in the forecast period 2023 to 2033.
The worldwide common warts market was extremely strong in 2021 and is predicted to exhibit a quick revenue CAGR during the forecast period. Immunosuppression is a substantial risk factor for persistent infections with Human Papilloma Viruses (HPV) and HPV-associated illness, with a frequency of 10% to 20% among school-aged children.
During the COVID pandemic, the number of immunocompromised people grew, leading to market expansion. However, the worldwide common warts market might be limited by high treatment prices and a lack of treatment availability. During the projected period, factors such as the expanding geriatric population are likely to fuel market revenue growth. The growing number of people being diagnosed with warts, owing to developments in diagnostics and HPV infections, is a key driver driving market expansion.
According to the Centers for Disease Control and Prevention, 340,000 to 360,000 people are affected by HPV-related genital warts each year. In the USA, approximately one in every 100 sexually active persons has genital warts at any one time.
Moreover, the increasing frequency of warts in the general population is expected to increase the market for common warts. Furthermore, the market is expanding as a result of a rise in scientific trials conducted by various pharmaceutical companies and an increased need for specific therapy to address various issues caused by common warts. These are the variables that are driving the common warts market forward.
| Data Points | Key Statistics |
|---|---|
| Expected Market Value (2023) | USD 770 Million |
| Anticipated Forecast Value (2033) | USD 1,100 Million |
| Projected Growth Rate (2023 to 2033) | 3.6% CAGR |
The global demand for common warts is projected to increase at a CAGR of 3.6% during the forecast period between 2022 and 2032, reaching a total of USD 1,100 Million in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2022, sales witnessed significant growth, registering a CAGR of 2%.
The recurrence rate of genital warts treated with topical podophyllotoxin therapy ranges between 6% and 100%. According to the Centers for Disease Control and Prevention (CDC), anogenital warts often reoccur within three months. Thus, when the recurrence incidence of warts increases, so does the use of goods and therapy, driving the market for common warts.
HPV viruses promote excessive and fast development of keratin, a hard protein found on the skin's top layer. According to the Anal Cancer Foundation, an estimated 14 million people in the USA are infected with HPV each year. According to the Centers for Disease Control and Prevention (CDC), genital warts caused by HPV afflict around 340,000 to 360,000 women and men in the USA each year. As a result, an increase in the prevalence of warts and HPV infections supports the expansion of the common warts market.
The Increasing Prevalence of Common Warts and HPV infections is propelling Market Growth
People with weaker immune systems as a result of organ transplants, major illnesses such as cancer or AIDS, and atopic disorders are more likely to get warts. As a result, an increase in the number of cancer patients raises the prevalence of warts, driving the common warts market.
An increase in the number of HPV infections increases the danger of warts and, as a result, the market. According to the Anal Cancer Foundation, an estimated 14 million people in the USA are infected with HPV each year. According to the Centers for Disease Control and Prevention, genital warts caused by HPV afflict around 340,000 to 360,000 women and men in the USA each year, and they normally appear 2 to 3 months after HPV infection.
There are several treatments available for warts, but recurrences are common. A large majority of instances of genital warts do not respond to therapy and frequently reoccur, especially when infections from HPV have a protracted incubation period. As a result, an increase in the recurrence rate of common warts increases the need for products and therapy. This, in turn, is projected to fuel the market for common warts.
The Common Warts Market is being Hampered by a Low Diagnostic Rate due to a Lack of Awareness
The expansion of the worldwide common warts market is anticipated to be impeded by a lack of knowledge of the diagnosis, which results in fewer reported instances and, as a result, less relevance for treatment choices. Although the frequency of warts is increased, the diagnostic rate in patients is low.
For example, according to the 2018 Health Protection Report, the prevalence of genital warts diagnosis among girls aged 15 to 17 in England accessing sexual health services reduced by 92% compared to 2014.
Government Support to Raise Awareness about Sexually Transmitted Diseases Widening Profit Margins
Over the projection period, Asia Pacific is predicted to have high revenue CAGR. There is a significant growth in the elderly population in nations such as China, India, and others.
The region's development rate will be enhanced due to the presence of generic producers and the expansion of healthcare facilities. These important drivers are projected to fuel market revenue growth throughout the forecast period.
Government support to raise awareness about sexually transmitted diseases, an increase in demand for advanced therapeutics, an increase in the prevalence of HPV infections, a rising economy, and a shift in sexual lifestyles in the area are key drivers of the Asia Pacific common warts market. As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 3% in the assessment period 2023 to 2033.
Increase in Pharmaceutical Firms' Research and Development Efforts to Accelerate Market Growth
The development of the North American market is attributable to an increase in pharmaceutical firms' Research and Development efforts, a high rate of treatment acceptance in healthcare facilities, and a rise in knowledge about the impacts of common warts. North America is expected to grow at a CAGR of 3.5% in the assessment period 2023 to 2033.
Because of Its Low Cost, Salicylic Acid Improves Clinical Outcomes
There is a growing desire for common warts therapy that leaves no scars and gives lifetime protection against HPV. As a result, businesses in the common warts market are focusing more on tissue keratolysis in order to improve patient results.
Tissue keratolysis, which uses salicylic acid, is popular in over-the-counter (OTC) drugs. This is clear since salicylic acid, a chemical destruction therapy option, is predicted to increase at an exponential rate in the common warts market throughout the projection period.
Key players in the common warts market are Nielsen BioSciences, Verrica Pharmaceutical, Aclaris Therapeutics, Inc., KinoPharma, Inc., pHion Therapeutics, Orgenesis, Novan, Cassiopeia Pharmaceuticals, Innovax, and Torii Pharmaceutical Co. Ltd.
Recent Developments
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 770 Million |
| Market Value in 2033 | USD 1,100 Million |
| Growth Rate | CAGR of 3.6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Diagnosis Procedure, Drug Type, Medication Class, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, UK, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Nielsen BioSciences; Verrica Pharmaceutical; Aclaris Therapeutics, Inc.; KinoPharma, Inc.; pHion Therapeutics; Orgenesis; Novan; Cassopeia Pharmaceuticals; Innovax |
| Customization | Available Upon Request |
FMI projects the global common warts market to expand at a 3.6% value CAGR by 2033
The global common warts market is estimated at a market value of USD 770 Million
The global market for common warts treatment is expected to garner a market value of USD 1100 Million
As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 3% in the assessment period 2023 to 2033.
Nielsen BioSciences, Verrica Pharmaceutical, Aclaris Therapeutics, Inc., KinoPharma, Inc., pHion Therapeutics, Orgenesis, Novan, Cassopeia Pharmaceuticals, Innovax and Torii Pharmaceutical Co. Ltd., are some prominent Common Warts manufacturers
North America is expected to grow at a CAGR of 3.5% in the assessment period 2023 to 2033.
Europe is expected to grow at a CAGR of 3.3% in the assessment period 2023 to 2033.
The Salicylic Acid segment is expected to hold the largest market share for common warts in the forecast period 2023 to 2033.
Explore Similar Insights
Common Warts Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
