A wart is found to be small growth on the skin, which generally looks like a solid blister or even as a small cauliflower. There are various types of warts include common warts, flat warts, pigmented warts, and plantar warts. It has a rough texture and can appear anywhere on the body. These warts are caused by viruses which arose from the human papillomavirus (HPV) family. This appearance of a wart depends on its location on the body and the thickness of the skin. The Palmar type of warts appears on the hand. Plantar warts are the type of warts that are susceptible to affect the feet. Furthermore, the estimations suggest that 1 in 3 children and teenagers have warts, but only 3 to 5 percent of adults. This is probably because the immune system becomes better able to prevent their development over time.
COVID-19 scenario analysis:
The major Pharmaceutical and biotech companies together shook hands with governments around the globe are working to address the COVID-19 outbreak. They are susceptible for supporting the development of vaccines to planning for medicines supply chain challenges. Furthermore, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. The most commonly used drugs such as Hydroxychloroquine have observed to give dramatic surge in demand for the management of COVID-19. The high demand for these drugs has presented huge opportunity for the manufacturing of COVID-19 management drugs, as many developed countries are short of these drugs. The increase in demand for vaccine and treatment drugs for COVID-19, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major factor affecting the market includes the increase in prevalence of Human Papillomavirus related infections triggering and leading to warts and is hence is anticipated to propel the market grow in the coming years. The surge in R&D on the treatment of warts such as innovation of microwave technology would help the industry boost in the forecast period. The increase in focus over the better quality of life and hence seeking for better treatment options for Warts would help the market gain maximum revenue in the forecast period. However, the side effects caused by the current treatment methods may hinder the industrial growth in the coming years.
New product advancements to flourish the market
In June 2019, Verrica Pharmaceuticals Inc., (a medical dermatology company committed to the development and commercialization of novel treatments that provide meaningful benefit for people living with skin diseases, today announced positive topline results from its COVE-1 Phase 2 open label clinical study of VP-102 for the treatment of verruca vulgaris, or common warts.
In October 2018, Pulse Biosciences announced the launch of a clinical feasibility study of its Nano-Pulse Stimulation platform intended to treat cutaneous warts. The Nano-Pulse Stimulation system is a novel, non-thermal tech platform designed to deliver nanosecond duration energy pulses intended to disrupt functions of internal cell structures while maintaining outer cell membranes, the Hayward, Calif.-based company said.
Increase in target population to boost the market
According to the Center of Disease Prevention and Control, 79 million Americans, most in their late teens and early 20s, are infected with HPV. There are many different types of HPV. Some types can cause health problems including genital warts and cancers.
Key benefits of the report:
- This study presents the analytical depiction of the global Warts industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global Warts market share.
- The current market is quantitatively analyzed to highlight the global Warts market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the Warts market.
- The report provides a detailed global Warts market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Warts Market research report:
- Who are the leading market players active in the Warts market?
- What are the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in tasking further strategic steps?
Warts Market Report Highlights
By Distribution Channel
Key Market Players
GlaxoSmithKline plc., Pfizer, Inc., Phio Pharmaceuticals Corp., Bausch Health Companies, Inc., Novan Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd, Verrica Pharmaceuticals, Merck & Co., Inc., Cipla Ltd., Taro Pharmaceutical Industries Ltd, AIM ImmunoTech, Inc.