In 2021, Prevention Segment is Dominating the Global Genital Warts Market with the Market Share of 71.49% and is Expected to reach USD 7,826.34 Million by 2028

According to research, some cancers have also been linked to Human Papilloma Virus. However, the HPV strain that results in genital warts seldom results in cancer. Additionally, STIs, or sexually transmitted illnesses, are infections that spread by close sexual contact, oral, vaginal, or anal transmissions. But many HPV-positive individuals never even get genital warts. According to the World Health Organization (WHO), more than 290 million women globally have human papillomavirus (HPV) infections, and more than 1 million sexually transmitted infections (STIs) are acquired every day.

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Global genital warts market is expected to reach USD 10,607.81 million by 2028 from USD 6,447.97 million in 2020 growing with the substantial CAGR of 6.8% in the forecast period of 2021 to 2028. The market for genital warts therapies is driven by the rise in the prevalence of warts and HPV infections. Warts are more likely to appear in people with compromised immune systems due to organ transplants, major illnesses like cancer or AIDS, or atopic conditions. As a result, the market is driven by an increase in the number of cancer patients and the incidence of warts. As an illustration, the Anal Cancer Foundation estimates that 14 million Americans contract HPV each year.   

Increased prevalence of sexually transmitted disease and human papilloma virus (HPV) will drive the market's growth rate

Sexually transmitted diseases are chronic infections passed from one individual to another through sexual contact. More than 20 types of STDs are human papillomavirus (HPV), genital herpes, HIV/AIDs. The U.S. has the highest number of STD cases in the developed world. According to the Centers for Disease Control and Prevention (CDC) data and the World Health Organization, the recurrent type of Sexually transmitted disease is the human papillomavirus (HPV). Every sexually active individual obtains the disease at some point in time. This is driving the growth of the market. Increased expenditure by public and private players on the development of infrastructure will also promote the market growth rate. Continuous research and development pertaining to the deployment of advanced technologies will yet again widen the scope of growth.  

Report Scope and Market Segmentation

Segment Analysis:

Global genital warts market is categorized into eight notable segments which are based on the morphology, type, cause, location, gender, dosage, end user and distribution channel.

• On the basis of morphology, the global genital warts market is segmented into flat warts, smooth papular, cauliflower-like and keratotic. In 2021, cauliflower-like segment is dominating the global genital warts market with the market share of 61.65% due to the high prevalence of this shape of genital warts.
• On the basis of type, the global genital warts market is segmented into prevention, diagnosis and treatment. In 2021, prevention segment is dominating the global genital warts market with the market share of 71.49% as the prevention is increased due to the availability of preventive vaccines.
• On the basis of cause, the global genital warts market is segmented into HPV 6, HPV 11 and others. In 2021, the HPV 6 segment is dominating the global genital warts market with a market share of 59.29%. The HPV 6 strain has the highest abundance in the diagnosis and has a higher prevalence rate than HPV 11.
• On the basis of location, the global genital warts market is segmented into cervix uteri, urethra, anus, vulva and scrotum. In 2021, the vulva segment is dominating the global genital warts market with the market share of 48.38% because the prevalence rate in women is higher than in men, and vulva have the softest tissue and secretory glands.
• On the basis of gender, the global genital warts market is segmented into male and female. In 2021, the female segment is dominating the global genital warts market with the market share of 57.35% due to the higher prevalence or incidence rate.
• On the basis of dosage, the global genital warts market is segmented into cream, gel, ointment, intramuscularly and others. In 2021, the cream segment is dominating the global genital warts market with the market share of 59.23% because treatment with cream is the easiest way to treat the genital warts and can be done by patient itself in the home.
• On the basis of end user, the global genital warts market is segmented into hospitals, surgical centers, diagnostic centers, ambulatory surgical centers and others. In 2021, the hospitals segment is dominating the global genital warts market with the market share of 53.69% as hospitals patients have all the facilities as they can directly contact to doctors, which can diagnose the disease and take the effective treatment with the advice of doctors which are experts.

Hospitals segment will dominate the end user segment of the genital warts market

The hospitals segment will emerge as the dominating segment under end user in 2021 with approximately 54% market share. This is because of the growing number of hospitals in the market especially in the developing economies. Further, growth and expansion of the healthcare industry all around the globe will further bolster the growth of this segment.

• On the basis of distribution channel, the global genital warts market is segmented into direct tender, pharmacy stores and others. In 2021, direct tender segment is dominating the global genital warts market with the market share of 83.70% as there is no requirement of the prescription of doctors and can be purchased and used.

The direct tender segment will dominate the distribution channel segment of the genital warts market

The direct tender segment will emerge as the dominating segment under distribution channel segment in 2021. This is because of the growing number of direct tenders all over the globe. Further, growth and expansion of distribution channels and services on a global scale will further bolster the growth of this segment.

Major Players              

Data Bridge Market Research recognizes the following companies as the market players in genital warts market: CryoSurgery, Inc. (U.S.), Merck Sharpe & Dohme Corp. (Germany), Taro Pharmaceutical Industries Ltd. (U.S.), Glenmark Pharmaceutical Inc. (U.S.), CryoConcepts LP (U.S.) and CryoIQ (Sweden).

Market Development

• The U.S. FDA approved GARDASIL9 (Human Papillomavirus 9-valent Vaccine, Recombinant) to prevent HPV-related cervical, vaginal, vulvar, anal, oropharyngeal, and other head and neck cancers in June 2020, according to Merck Sharp & Dohme Corp., a division of Merck & Co., Inc. The FDA's approval would address the patients' unmet clinical needs, expand the vaccine's availability in hospitals and cancer research facilities, and boost commercial revenues.

Regional Analysis

Geographically, the countries covered in the genital warts market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in genital warts market during the forecast period 2021 - 2028

Because of the substantial investment in the region for adopting new healthcare facilities, North America is likely to lead the global market. In addition, the region's market is fueled by the presence of major competitors and early adoption of advanced products.

Asia-Pacific is estimated to be the fastest-growing region in genital warts market the forecast period 2021 - 2028

Asia-Pacific is expected to increase significantly as well and will register the highest growth rate owing to an increase in the region's pet population and increased investments in the healthcare sector. Furthermore, as part of their economic growth aspirations, growing economies in APAC, such as India, are heavily investing in infrastructure development. Furthermore, increasing warts prevalence and increasing investment by multiple organizations in product research and development, particularly in manufacturing in developing countries, is fueling market expansion in the region.

COVID-19 Impact Analysis

The COVID-19 problems are still being overcome by medical practices all around the world. The pandemic has put a strain on South and Central America's already overworked and underfunded public healthcare systems. Due to overcrowding, inadequate sanitation, food insecurity, and unpredictable environmental conditions, South and Central American countries—where a large portion of the population lives in poverty—constantly experience widespread health issues. Underfunded state-run facilities provide the only source of healthcare in the area. The region's problems are being worsened by a lack of resources, preventing the market for wart therapies from expanding. The therapeutics market for genital warts has suffered as a result of this pandemic.

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