Largest segment driving the growth of Genital Warts Treatment Market

The global Genital Warts Treatment Market is estimated to be valued at US$ 1785.61 Mn or Mn in 2023 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview: -

Genital Warts Treatment includes pharmaceutical medication, laser therapy, cryotherapy that are used to treat genital warts. Pharmaceutical medication and creams are often the first line of treatment and are less invasive.

Market key trends: -

Increased adoption of imiquimod cream boosted segment growth. Imiquimod cream functions by enhancing the body's natural immune response through stimulating production of interferon at the site of application. Higher efficacy, low risk of scarring & hyper pigmentation, and ease of home application are advantages that have increased preference for imiquimod cream over alternative treatment options like cryotherapy or laser surgery. However, adverse effects like itching, irritation and pain at application site may affect compliance by some patients.

SWOT Analysis: -

Strength: - High unmet medical needs due to the lack of effective drugs for recurrence of genital warts.
Weakness: - Risk of drug resistance, short treatment duration of currently available therapies.
Opportunity: - Emergence of pipeline drugs with novel mechanisms of action and long-lasting efficacy.
Threats: - Strong competition from generic drugs, biosimilars eroding brand loyalty.

Key Takeaways: -

The Global Genital Warts Treatment Market Size was valued at US$ 1785.61 Mn in 2023 and is expected to reach over US$ 2549.83 Mn by 2030, expanding at a CAGR of 4.7% during the forecast period. Increasing adoption of injectable drugs for treatment and rising global prevalence of HPV infections are expected to drive market revenue growth.

Regionally, North America captured over 40% of the global market share in 2023 due to advanced healthcare infrastructure and availability of expensive patented drugs in the region.However, Asia Pacific region is likely to present most lucrative opportunities going forward fueled by the growing patient population in major Asian countries like China, India.

Key players operating in the genital warts treatment market are Sanofi S.A., AbbVie Inc., Perrigo Company PLC, 3M, Lee's Pharmaceutical Holdings Ltd, Cassiopea, Glenmark Pharmaceuticals, Bausch Health, and Novartis International AG. Sanofi and AbbVie currently dominate the market with their brands like Imiquimod and Picato. Entry of biosimilars of Bausch Health's Aldara cream is expected to intensify competition during the forecast period.

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