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Warts Therapeutics Market Report 2024 - Warts Therapeutics Market Insights, Growth And Forecast
Warts Therapeutics Market
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According to The Business Research Company's, The warts therapeutics market size has grown steadily in recent years. It will grow from $1.91 billion in 2023 to $1.98 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to salicylic acid use, cryotherapy development, topical treatments evolution, surgical interventions, emergence of immunotherapy.
The warts therapeutics market size is expected to see steady growth in the next few years. It will grow to $2.29 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to precision medicine for hpv, laser therapy innovations, combination therapies, digital health solutions, healthcare accessibility initiatives. Major trends in the forecast period include targeted antiviral therapies, gene editing research, biodegradable delivery systems, psychodermatology focus, v.
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Market Drivers and Trends:
The increasing focus on vaccinations for warts is expected to propel the growth of the wart's therapeutics market going forward. Vaccination refers to the act of introducing a vaccine into the body to develop antibodies against infections and related diseases. Warts are caused by the human papillomavirus (HPV). The administration of a therapeutic or prophylactic vaccine against human papillomavirus (HPV) prevents the formation of warts. Thus, the increasing focus on vaccinations for warts is boosting the sales of the wart's therapeutics market. For instance, in July 2023, according to the World Health Organization, a Switzerland-based international public health organization, in 2022, there was an improvement in the number of children who did not receive any vaccinations, commonly referred to as zero-dose children, decreasing from 18.1 million in 2021 to 14.3 million. Additionally, global coverage for the initial dose of the human papillomavirus (HPV) vaccine in girls increased from 16% in 2021 to 21% in 2022. Therefore, the increasing focus on vaccinations for warts is driving the growth of the wart therapeutics market.
Product innovation is the key trend gaining popularity in the wart therapeutics market. Companies operating in the wart therapeutics market are developing innovative treatments to sustain their position in the market. For instance, in February 2023, Verrica Pharmaceuticals Inc., a US-based dermatology therapeutics company, announced that the FDA (The United States Food and Drug Administration) accepted its resubmitted New Drug Application (NDA) for VP-102 to treat molluscu*m contagiosum (a type of wart) and assigned a Prescription Drug User Fee Act (PDUFA) number. VP-102 is a patented drug-device combination product that delivers cantharidin (0.7% w/v) in good manufacturing practices (GMP)-controlled formulation via a single-use applicator for precise topical dosing and targeted administration.
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Major Key Players of the Market:
Pfizer Inc., GlaxoSmithKline plc, Merck & Co. Inc., Verrica Pharmaceuticals Inc., Bausch Health Companies Inc., Dr. Reddy's Laboratories Ltd, Cipla Inc., Prestige Consumer Healthcare Inc., Maruho Co. Ltd, Taro Pharmaceutical Industries Ltd, Aclaris Therapeutics Inc., Novan Inc, Scholl's Wellness Co, Orgenesis, AIM ImmunoTech Inc, Nielsen BioSciences Inc, KinoPharma Inc., pHion Therapeutics, RXi Pharmaceuticals, Phio Pharmaceuticals Corp., MedCara Pharmaceuticals, Compound W, Duofilm, Curad Mediplast, Euro Vital Pharma GmbH, Koninklijke Utermöhlen NV
Warts Therapeutics Market 2024 Key Insights:
• The warts therapeutics market size is expected to see steady growth in the next few years. It will grow to $2.29 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%.
• Accelerating Growth In The Warts Therapeutics Market Through Increased Focus On Hpv Vaccinations
• Advancing Wart Therapeutics Market Through Cutting-Edge Product Developments
• North America was the largest region in the warts therapeutics market in 2023
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