Report : South and Central America Warts Therapeutics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Common Warts, Genital Warts, Flat Warts, and Others); Treatment (Physical Destruction, Immunomodulation, and Chemical Destruction); End User (Hospitals, Homecare, Specialty Clinics, and Others)
Common Warts Segment has the Largest Share of Type in the South and Central America Warts Therapeutics Market during 2021–2028
According to a new market research study on “South and Central America Warts Therapeutics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Treatment, and End User” is expected to reach US$ 139.1 million by 2028 from US$ 113.6 million in 2021. The market is estimated to grow at a CAGR of 2.9% from 2021 to 2028. The report provides trends prevailing in the South and Central America 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 COVID? 19 pandemic is a critical test for the already overburdened and underfunded public healthcare systems of South and Central America. It suffers from severe inequalities. With a vast population living in poverty, South and Central America continuously face widespread health problems due to overcrowding, limited sanitation, food insecurity, and unpredictable environmental conditions. Underfunded state?run hospitals are the only source of medical care in the region. Brazil is in a critical situation due to COVID-1. Lack of resources is creating more challenges in the region, hampering the growth of the market. All these factors will restrict the distribution and adoption of wart therapeutic products and services which will restrict the market growth. However, as the vaccination continues to these countries, the various market players in this region will again start focusing on development of wart therapeutics and increase their distribution of products. Hence impact of pandemic will become moderated on the wart therapeutics market.
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., Cipla Inc., Koninklijke Utermöhlen NV, Scholl's Wellness Company, Teva Pharmaceutical Industries Ltd, and GlaxoSmithKline plc. are among the leading companies in the South and Central America 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 South and Central America (Brazil, Argentina, Rest of South and Central America).
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