Europe Warts Therapeutics Market is expected to reach US$ 667.6 million by 2028

Common Warts Segment has the Largest Share of Type in the Europe Warts Therapeutics Market during 2021–2028

According to a new market research study on “Europe Warts Therapeutics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Treatment, and End User” is expected to reach US$ 667.6 million by 2028 from US$ 538.1 million in 2021. The market is estimated to grow at a CAGR of 3.1% from 2021 to 2028. The report provides trends prevailing in the Europe Warts therapeutics market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the rising prevalence of human papillomavirus infections and recurrence of genital warts, and new product developments are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the poor diagnostics scenario in low-income countries.

The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries. Countries across Europe are witnessing a resurgence in COVID-19 cases after successfully mitigating outbreaks early in the year. It is critical to reach Sustainable Development Goals (SDGs) and recent European guidance testing for HIV, hepatitis B (HBV), hepatitis C (HCV), and STIs in the pandemic. The COVID-19 required rapid adaptation of health systems and public health measures, and has had considerable impact on testing for HIV, viral hepatitis and STIs in the European Region. As per the Eurosurveillance, the preliminary results showed that 95% of respondents from 34 countries reported testing less than half the expected number of people during the first months of the COVID-19 between March and May 2020. This continued between June and August 2020 to a lesser extent when measures were less strict in most countries. These findings are indicating decline in testing volumes. With reported cases of COVID-19 being on the rise and restrictions being re-imposed in many countries, guidance is paramount to minimize testing interruptions and ensure the long-term sustainability of existing HIV, hepatitis and STIs testing services. Apart from this, the pandemic also led to drastic reductions in non-urgent medical visits including dermatology visits. Thus, the COVID-19 have negatively affected the market growth.

The market for warts therapeutics market is segmented into type, treatment, and end user. Based on type, the warts therapeutics market is segmented into common warts, genital warts, flat warts and other. In 2020, the common warts segment is estimated to account for the largest market share in the warts therapeutics market. Common warts, or cutaneous warts, are abnormal epithelial growth in the skin and mucous membrane. Common warts are known to be caused by the Human Papilloma Virus (HPV). People with weakened immune system due to organ transplant, serious diseases, such as cancer or AIDS, and atopic diseases are at a greater risk of developing warts. Thus, an increase in number of people with cancer increases the prevalence of warts and consequently, drives the segment. Increase in number of HPV infections fuels the risk of warts and subsequently, boosts the market growth. However, genital warts are estimated to register the highest CAGR during the forecast period.

Bausch Health Companies Inc., Euro Vital Pharma GmbH, Cipla Inc., Koninklijke Utermöhlen NV, Scholl's Wellness Company, Teva Pharmaceutical Industries Ltd, GlaxoSmithKline plc., and AIM ImmunoTech Inc are among the leading companies in the Europe warts therapeutics market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in April 2021, Teva Pharmaceuticals has launched First Generic Version of Absorica (isotretinoin) Capsules for Severe Recalcitrant Nodular Acne warts. Oral isotretinoin is a promising therapeutic choice for patients with refractory facial plane warts. 

The market for warts therapeutics market is segmented into type, treatment, and end user. Based on type, the warts therapeutics market is segmented into common warts, genital warts, flat warts, and others. Based on treatment, the warts therapeutics market is segmented into physical destruction, immunomodulation, and chemical destruction. Based on end user, the warts therapeutics market is segmented into hospitals, homecare, specialty clinics, and others. Geographically, the warts therapeutics market is segmented into Europe (Germany, UK, France, Spain, Italy, Rest of Europe).