Market Introduction
Warts are skin growth caused by the human papillomavirus (HPV). There are more than 60 types of HPV, some of which tend to cause warts on the skin. Topical treatments could probably resolve the issue of warts in a few weeks with minimal side effects. Topical treatment of may not be effective all the time. Hence, cryotherapy with liquid nitrogen is a suitable option for treatment, where cure rate is 60% to 90% with less than 20% to 10% recurrence rate.
Thus, the new product developments are expected to create a significant demand for warts therapeutics in the coming years, which is further anticipated to drive the warts therapeutics market.
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.
Market Overview and Dynamics
The Warts therapeutics market in Europe is expected to grow from US$ 538.1 million in 2021 to US$ 667.6 million by 2028; it is estimated to grow at a CAGR of 3.1% from 2021 to 2028. Technological advancements are shaping warts treatments to overcome the shortcomings of the existing treatment procedures. Swift System, a new technology developed by Saorsa, provides a method to treat the viral infection causing plantar warts. The FDA approved this technique in 2018 after the proven research in Europe. The research showed that in over 13,000 patients treated with Swift, treatment was 85% effective in eliminating warts with less than 1% recurrence rate. It involves precisely exposing the skin to low-level microwave energy to a predetermined depth via a surface-contact probe, creating an immunologic response and harnessing the body's immune system to respond to the infection. Such innovations are likely to bring new trends in the warts therapeutical market in the coming years.
Key Market Segments
In terms of type, the common warts segment accounted for the largest share of the Europe warts therapeutics market in 2020. In terms of treatment, the physical destruction segment accounted for the largest share of the Europe warts therapeutics market in 2020. In terms of end user, the hospitals segment accounted for the largest share of the Europe warts therapeutics market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the warts therapeutics market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
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EUROPE WARTS THERAPEUTICS MARKET SEGMENTATION
By Type
- Common Warts
- Genital Warts
- Flat Warts
- Others
By Treatment
- Physical Destruction
- Cryotherapy
- Surgical Removal
- Laser Treatment
- Immunomodulation
- Interferons
- Retinoids
- Zinc
- Chemical Destruction
- Bleomycin
- Cantharidin
- Salicylic Acid
- Others
By End User
- Hospitals
- Homecare
- Specialty Clinics
- Others
By Country
-
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Companies Mentioned
- Bausch Health Companies Inc.
- Euro Vital Pharma GmbH
- Cipla Inc.
- Koninklijke Utermöhlen NV
- Scholl's Wellness Company
- Teva Pharmaceutical Industries Ltd
- GlaxoSmithKline plc.
- AIM ImmunoTech Inc
Europe Warts Therapeuctis Market Strategic Insights
Europe Warts Therapeuctis Market Report Highlights
| Report Attribute | Details |
| Market size in 2021 | US$ 538.1 Million |
| Market Size by 2028 | US$ 667.6 Million |
| CAGR (2021 - 2028) | 3.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
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Regions and Countries Covered
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| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
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Europe Warts Therapeuctis Market Country and Regional Insights
