Genital warts, also known as condyloma acuminata, are the most commonly diagnosed sexually transmitted infection (STI) caused by certain strains of human papillomavirus (HPV). Genital warts treatment aims to remove visible warts and stop the spread of HPV. Some of the commonly used genital warts treatment options include cryotherapy, trichloroacetic acid, podophyllin, imiquimod, and surgical procedures. The global Genital Warts Treatment Market is estimated to be valued at US$ 1.2 billion in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of genital warts worldwide is the key trend driving the growth of the genital warts treatment market. According to the WHO, HPV infection is very common and over 90% of new HPV infections occur within 2 years of becoming sexually active. Additionally, more than 50% of sexually active men and women acquire genital HPV infection at some point in their lives. This high prevalence of genital warts has increased the demand for effective treatment options like cryotherapy, which helps remove warts while minimizing scarring and pain. The increasing awareness regarding screening and treatment of STIs including genital warts has also fueled the adoption of genital warts treatment globally.
Segment Analysis
The global genital warts treatment market is segmented based on type, treatment, end-user and region. By type, the market is divided into anal and genital warts. Genital wart is dominating the type segment owing to high prevalence rate of genital warts. By treatment, the market is categorized into topical treatments, cryotherapy, surgical procedures and others. Topical treatments hold the largest market share due to easy administration and high preference by patients. By end-user, the market is fragmented into hospitals & clinics, diagnostic centers and others. Hospitals & clinics dominate the end-user segment due to availability of advanced treatment facilities.
Key Takeaways
The global genital warts treatment market analysis is expected to witness high growth during 2020-2028.
Regional analysis:
The Asia Pacific region is expected to show fastest growth during the forecast period. This is attributed to increasing awareness about genital wart treatments, improving healthcare infrastructure and rise in healthcare expenditures in developing countries such as India and China.
Key players
operating in the genital warts treatment market are Merck & Co., Inc, Bausch Health Companies Inc., Glenmark Pharmaceuticals Ltd and Sun Pharmaceutical Industries Ltd. Merck & Co., Inc holds the highest market share owing to its wide product portfolio in genital wart treatment segment.
Get more insights on this topic: https://www.ukwebwire.com/genital-warts-treatment-market-industry-insights-trends-genital-warts-treatment-market/
Explore more information on this topic, Please visit: https://ceocolumn.com/news/understanding-the-complex-tumor-microenvironment/
Comments
0 comment