Largest segment driving the growth of Genital Warts Treatment...

Largest segment driving the growth of Genital Warts Treatment Market

Posted 2023-11-27 12:31:04

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.

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.