Large paragraph: Genital warts treatment products are topical medications used for the removal of genital warts caused by human papillomavirus (HPV) infection. These treatments help reduce warts and associated itching, burning sensation.
Market key trends:
The increasing prevalence of genital warts globally is the primary factor driving the growth of the genital warts treatment market. As per the Centers for Disease Control and Prevention (CDC), approximately 40% of sexually active men and women get genital HPV infection at some point in their lives. Furthermore, according to the World Health Organization (WHO), each year nearly 354 million people worldwide get infected with HPV. Thus, the rising cases of genital HPV infection and genital warts are expected to propel the demand for genital warts treatments over the forecast period.
Segment Analysis
The global genital warts treatment market is dominated by topical treatments which account for over 70% of the market share. Creams and gels are the most widely used topical treatments for genital warts as they are convenient to apply, have fewer side effects compared to other modalities, and can be administered by patients themselves at home.
Key Takeaways
The Global Genital Warts Treatment Market Size is expected to witness high growth over the forecast period of 2023 to 2030. The market is projected to grow at a CAGR of 6.3% during this period and reach a size of US$ 1785.61 Mn by 2023.
Regional analysis
North America currently accounts for the largest share of the global genital warts treatment market due to high awareness levels about STDs and their treatment options in the region. However, the Asia Pacific region is expected to witness the fastest growth over the forecast period supported by factors such as the rising incidence of HPV infections, growing medical tourism industry and improvements in healthcare infrastructure in developing countries.
Key players
Key players operating in the genital warts treatment market are DJO Global, Inc., BSN medical (now part of Essity), Smith & Nephew plc, medi GmbH & Co. KG, SIGVARIS Group, Bio Compression Systems, Inc., Tactile Medical, RIKEN SEIKI CO., LTD., Paul Hartmann AG, 3M Company, Gottfried Medical, Inc., Mego Afek AC Ltd., Abov Semiconductor, Persys Medical, BTL Industries, Human Meditek Co., Ltd., Huntleigh Healthcare Limited (part of Arjo), KCI Licensing, Inc., Beijing Huibo Medical Device Co., Ltd., Bioinicia S.L.
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