Global Warts Therapeutics Market - 2022-2029

Market Overview

Warts Therapeutics Market was valued at USD 1914.25 Million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 4.90% during the forecast period (2022-2029).

Warts are skin growth that is caused by the human papillomavirus (HPV). It may persist for years and recurs at the same or different sites, even after treatment. Some factors influencing recurrence appear to be related to the patient's overall immune status and local factors. There are more than 60 types of HPV and some of which tend to cause warts on the skin.

These commonly appear as rough elevations on the skin and are of different shapes and sizes. One can notice them on elbows, fingers, knees, face, scalp and soles of the feet. These generally occur on the backs of the hands and the fingers. Foot wart causes a lot of pain and makes it difficult to walk. Flat warts occur in large numbers in any part of the body. Genital warts are the most common sexually transmitted diseases (STD) affecting people.

Topical treatments could predictably resolve warts in a few weeks with minimal side effects. Topical treatment may not be effective all the time. Hence, cryotherapy with liquid nitrogen is a suitable option for treatment, where the cure rate is 60% to 90% with less than 20% to 10% recurrence rate.

Viral, flat & plantar warts are widespread can be treated nowadays with the latest lasers equipment & cryotherapy. These can be surgically removed by co2 lasers & radiofrequency.

Market Dynamics

The global warts therapeutics market growth is driven by factors such as the rising prevalence of warts and increasing research & development for treatment drugs.

Rising Prevalence of Warts & HPV Infections is Driving the Market Growth

Warts are a common skin disorder that may regress spontaneously. The recurrence rate for genital warts treated with topical podophyllotoxin treatments is 6% to 100%. A to the Centers for Disease Control and Prevention (CDC), the recurrence of anogenital warts within three months is typical. Thus, an increase in the recurrence rate of warts leads to an increase in the utilization of products and treatment and this drive the market for warts therapeutics. About 10% of children and adolescents have warts at any one time. As many as 22% of children will contract warts during childhood.

Wart is a common dermatological infectious disorder caused by a virus that belongs to the Human Papilloma Virus (HPV) family. HPV viruses cause excessive and rapid growth of keratin, a hard protein on the top layer of the skin. For instance, as per the Anal Cancer Foundation, an estimated 14 million people are infected with HPV in the U.S. every year. According to the Centers for Disease Control and Prevention (CDC), in the U.S., around 340,000 to 360,000 women and men are affected annually by genital warts caused by HPV. Hence, an increase in the prevalence of warts & HPV infections drives the warts therapeutics market growth.

Low Diagnostic Rate Owing to Lack of Awareness is Hampering the Growth of the Warts Therapeutics Market

The global warts therapeutics market growth is likely to be hampered by the lack of awareness of the diagnosis leading to fewer reported cases and subsequently, leads to less significance for treatment options. However, the prevalence of warts is higher, but the diagnosis rate is low in patients. For instance, as per the Health Protection Report in 2018, the rate of genital warts diagnosis among girls aged 15 to 17 years in England, attending sexual health services decreased by 92% as compared to that in 2014.

Epidemiology

While warts can affect anyone, a few epidemiological variables are known. Certain age groups are more prone to warts. Those ages 9 to 16 years are at the highest risk. The peak age is 14.5 years for males and 13 years for females. Only those who are sexually active are at risk of genital warts. People who work with raw meat are at particularly high risk of butcher's warts. Since HPV has not been found in the tissues of the animals, butcher's warts are thought to be caused by occupational trauma, perhaps combined with the cold and moist conditions under which the job is performed.

The epidemiology will provide historical and forecasted epidemiology (Total Diagnosed Incidence of different warts, Gender-specific Cases, Age-specific Cases of Genital Warts, HPV type associated with GWs and Anatomical Location of Warts) in the United States from 2017-2027.

Pipeline Analysis

Globally, the prevalence of warts is rising, which encourages the market players to enter into strategic development, focusing on research and development to develop new drugs for warts treatment. For instance,

VP-102 currently in Phase II is for the treatment of molluscum contagiosum (molluscum), common warts and external genital warts, three of the most common viral skin diseases in medical dermatology.

Verrica intends to develop VP-103, a second cantharidin-based drug-device product candidate for the treatment of plantar warts, a skin infection on the bottom of the foot caused by the human papillomavirus (HPV)

Novan, Inc. is in the development of SB206 as a topical antiviral gel for the treatment of external genital warts. SB206 is in clinical trial phase 2.

COVID-19 Impact Analysis

The COVID-19 is affecting the global economy by directly affecting production and demand, by disturbing the supply chain and market disruption, and by its financial impact on firms and financial markets.

Lockdown regulations have been relaxed in most countries, but people are reluctant to visit doctors in person, due to the fear of spreading coronavirus (COVID-19). Thus, companies in the warts therapeutics market are adopting telemedicine as individuals prefer remote healthcare services amidst the COVID-19 era. The demand for telehealth technology will rise dramatically during the forecast period. Telemedicine apps are helping to expedite the process of quality medical care in the sphere of warts therapeutics.

The emergency need for social distancing among clinicians and patients has catalyzed the demand for telemedicine services in the domain of warts therapeutics. Due to the high prevalence of active COVID-19 cases in the United States, telemedicine services are expected to grow at a significant CAGR during the pandemic. This is expected to drive the warts therapeutics market during the forecast period.

Segment Analysis

The global warts therapeutics market is segmented into wart type, treatment type, and end-user.

By Type, Common Warts Dominate the Global Warts Therapeutics Market

Based on warts type, the global warts therapeutics market has been classified into common warts, genital warts, flat warts, plantar warts, and others. The common wart is a cutaneous viral infection caused by human papillomavirus (HPV). This virus causes the rapid growth of cells on the outer layer of your skin. It usually grows on your hands or fingers. Students are more prone to acquiring common warts, owing to increased chances of contact with multiple individuals in schools and colleges. According to numerous published journals, among different warts, common warts are a highly common type of warts.

Based on Treatment Type, Physical Destruction is the Fastest Growing Segment

By treatment type, the physical destruction segment is expected to grow at the fastest growth rate over the forecast period. Physical destruction, such as cryotherapy (freezing) with liquid nitrogen, represents the first line of therapy treatment for warts such as genital warts, common warts which provide cure rates of 50% to 80%. The Freezing (Cryotherapy, or Liquid Nitrogen Therapy)-Freezing works by causing a blister to form under and around your wart. Cryosurgery involves freezing the wart (liquid nitrogen), after which the wart and the surrounding skin fall off by themselves.

Radiofrequency involves cutting away the wart tissue or destroying it by radiofrequency device or electrodesiccation.

Laser Surgery is usually reserved for tough-to-treat cases. More than one treatment or more than one approach to treatment may be necessary to manage the problem.

Salicylic Acid Improves the Clinical Outcomes Owing to Cost-Efficiency

There is a rising demand for wart treatment that offers no scarring post-treatment and provides a lifetime of immunity against HPV. Thus, companies in the warts therapeutics market are increasing their focus on cryotherapy, tissue keratolysis, and immunotherapy to increase patient outcomes. Tissue keratolysis involves salicylic acid and is popular in over-the-counter (OTC) options for warts therapeutics. This is evident since salicylic acid, is a chemical destruction treatment option, is expected to register exponential revenue growth in the warts therapeutics market during the forecast period.

Geographical Analysis

In terms of region, the global warts therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is Expected to Dominate the Global Warts Therapeutics Market

North America accounted for the largest market share of the global warts therapeutics market in 2021. This trend is expected to continue during the forecast period. The growing awareness towards different treatment options and the launch of new products in this region are estimated to boost the warts therapeutics market growth in North America. The prevalence of common warts is 22 million among men and women, and more than 8% are diagnosed annually.

The growing trend of telemedicine is making a significant change in the warts therapeutics market in the United States. For instance, in December 2019, GenieMD, a California-based virtual care delivery company, launched a telemedicine app called iVisit, which helps to connect genital warts patients with the best physicians through a virtual visit. Such product innovations are boosting the growth of the warts therapeutics market.

Competitive Landscape:

Some of the major players in the schistosomiasis treatment market include Merck & Co., Inc., Dr Scholl's, Mylan N.V., Novan Inc., Pfizer, Inc., GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., Verrica Pharmaceuticals, Phio Pharmaceuticals Corp., AIM ImmunoTech, Inc., among others. The major players in the market of warts therapeutics are increasing their R&D to develop improved formulations of vaccines for patients who have not been previously vaccinated against HPV. Manufacturers are increasing their production capabilities to develop prescription creams and gels that help to effectively treat genital warts.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, contributing to the growth of the warts therapeutics market globally.

Verrica Pharmaceuticals

Overview:

Verrica Pharmaceuticals, founded in 2013 and is headquartered in the United States. Verrica Pharmaceuticals Inc. is a dermatology therapeutics company developing medications for skin diseases requiring medical interventions. It is specialized in the development and commercialization of dermatological treatments. Currently, the company's VP-102 is in the clinical trial phase for common and external genital warts indication.

Pipeline Products:

VP-102 currently in Phase II is for the treatment of molluscum contagiosum (molluscum), common warts and external genital warts, three of the most common viral skin diseases in medical dermatology.

Verrica intends to develop VP-103, a second cantharidin-based drug-device product candidate for the treatment of plantar warts, a skin infection on the bottom of the foot caused by the human papillomavirus (HPV)

Key Developments:

In March 2021, Torii acquired the exclusive license to develop and commercialize Verrica's product candidates for the treatment of molluscum contagiosum and common warts in Japan. Under the license agreement, Torii made up-front payments of $12.0 million.