According to research, some cancers have also been linked to Human Papilloma Virus. However, the HPV strain that results in genital warts seldom results in cancer. Additionally, STIs, or sexually transmitted illnesses, are infections that spread by close sexual contact, oral, vaginal, or anal transmissions. But many HPV-positive individuals never even get genital warts. According to the World Health Organization (WHO), more than 290 million women globally have human papillomavirus (HPV) infections, and more than 1 million sexually transmitted infections (STIs) are acquired every day.
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Global genital warts market is expected to reach USD 10,607.81 million by 2028 from USD 6,447.97 million in 2020 growing with the substantial CAGR of 6.8% in the forecast period of 2021 to 2028. The market for genital warts therapies is driven by the rise in the prevalence of warts and HPV infections. Warts are more likely to appear in people with compromised immune systems due to organ transplants, major illnesses like cancer or AIDS, or atopic conditions. As a result, the market is driven by an increase in the number of cancer patients and the incidence of warts. As an illustration, the Anal Cancer Foundation estimates that 14 million Americans contract HPV each year.
Increased prevalence of sexually transmitted disease and human papilloma virus (HPV) will drive the market's growth rate
Sexually transmitted diseases are chronic infections passed from one individual to another through sexual contact. More than 20 types of STDs are human papillomavirus (HPV), genital herpes, HIV/AIDs. The U.S. has the highest number of STD cases in the developed world. According to the Centers for Disease Control and Prevention (CDC) data and the World Health Organization, the recurrent type of Sexually transmitted disease is the human papillomavirus (HPV). Every sexually active individual obtains the disease at some point in time. This is driving the growth of the market. Increased expenditure by public and private players on the development of infrastructure will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced technologies will yet again widen the scope of growth.
Report Scope and Market Segmentation
Report Metric
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Details
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Forecast Period
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2021 to 2028
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Base Year
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2020
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Historic Years
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2019 (Customizable to 2013 - 2018)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Morphology (Cauliflower-Like, Smooth Papular, Keratotic, and Flat Warts), Type (Prevention, Diagnostics, Treatment), Cause (HPV 6, HPV 11, Others), Location (Vulva, Cervix Uteri, Urethra, Anus, Scrotum), Gender (Male and Female), Dosage (Cream, Gel, Ointment, Intramuscularly and Others), End-User (Hospitals, Diagnostic Centers, Surgical Centers, Ambulatory Surgical Centers, and Others), Distribution Channel (Direct Tender, Pharmacy Stores and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Bausch Health Companies Inc. (Canada), CryoSurgery, Inc. (U.S.), Merck Sharpe & Dohme Corp. (Germany), Taro Pharmaceutical Industries Ltd. (U.S.), Glenmark Pharmaceutical Inc. (U.S.), Edge Pharma (India), CryoConcepts LP (U.S.), CryoIQ (Sweden), GlaxoSmithKline plc (U.K.), ANI Pharmaceuticals, Inc. (U.S.), Cassiopea, Inc. (Italy), Verrica Pharmaceuticals (U.S.), Novan, Inc. (U.S.), BioNTech S.E. (Germany), Serum Institute of India Pvt. Ltd. (India), Fotona (Slovenia), Orgenesis Inc. (U.S.), Perrigo Company plc (Ireland) among others.
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Segment Analysis:
Global genital warts market is categorized into eight notable segments which are based on the morphology, type, cause, location, gender, dosage, end user and distribution channel.
Hospitals segment will dominate the end user segment of the genital warts market
The hospitals segment will emerge as the dominating segment under end user in 2021 with approximately 54% market share. This is because of the growing number of hospitals in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.
The direct tender segment will dominate the distribution channel segment of the genital warts market
The direct tender segment will emerge as the dominating segment under distribution channel segment in 2021. This is because of the growing number of direct tenders all over the globe. Further, growth and expansion of distribution channels and services on a global scale will further bolster the growth of this segment.
Major Players
Data Bridge Market Research recognizes the following companies as the market players in genital warts market: CryoSurgery, Inc. (U.S.), Merck Sharpe & Dohme Corp. (Germany), Taro Pharmaceutical Industries Ltd. (U.S.), Glenmark Pharmaceutical Inc. (U.S.), CryoConcepts LP (U.S.) and CryoIQ (Sweden).
Market Development
Regional Analysis
Geographically, the countries covered in the genital warts market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in genital warts market during the forecast period 2021 - 2028
Because of the substantial investment in the region for adopting new healthcare facilities, North America is likely to lead the global market. In addition, the region's market is fueled by the presence of major competitors and early adoption of advanced products.
Asia-Pacific is estimated to be the fastest-growing region in genital warts market the forecast period 2021 - 2028
Asia-Pacific is expected to increase significantly as well and will register the highest growth rate owing to an increase in the region's pet population and increased investments in the healthcare sector. Furthermore, as part of their economic growth aspirations, growing economies in APAC, such as India, are heavily investing in infrastructure development. Furthermore, increasing warts prevalence and increasing investment by multiple organizations in product research and development, particularly in manufacturing in developing countries, is fueling market expansion in the region.
COVID-19 Impact Analysis
The COVID-19 problems are still being overcome by medical practices all around the world. The pandemic has put a strain on South and Central America's already overworked and underfunded public healthcare systems. Due to overcrowding, inadequate sanitation, food insecurity, and unpredictable environmental conditions, South and Central American countries—where a large portion of the population lives in poverty—constantly experience widespread health issues. Underfunded state-run facilities provide the only source of healthcare in the area. The region's problems are being worsened by a lack of resources, preventing the market for wart therapies from expanding. The therapeutics market for genital warts has suffered as a result of this pandemic.
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Global Genital Warts Market – Industry Trends and Forecast to 2028
North America Genital Warts Market – Industry Trends and Forecast to 2028
Asia Pacific Genital Warts Market – Industry Trends and Forecast to 2028
Middle East and Africa Genital Warts Market – Industry Trends and Forecast to 2028
Europe Genital Warts Market – Industry Trends and Forecast to 2029