Genital warts are caused by certain types of HPV that infect the genital areas of men and women, including the skin of the penis, vulva, and anus. Genital warts can cause itching, irritation and sometimes pain. While most cases clear up on their own, genital warts can persist for months or years if left untreated. Treatment aims to remove the visible warts and prevent passing HPV to sexual partners.

The global genital warts treatment market is estimated to be valued at US$ 750 Mn in 2023 and is expected to exhibit a CAGR of 15% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising prevalence of human papillomavirus (HPV) infection remains the primary driver augmenting the genital warts treatment market. As per the statistics provided by the Centers for Disease Control and Prevention (CDC), about 14 million Americans become newly infected with HPV each year. Approximately 79 million Americans are currently infected with HPV. Additionally, increasing awareness about the availability of various treatment options for genital warts is further boosting the market growth. However, high cost of medications associated with genital warts treatment is a major factor limiting the market size.

SWOT Analysis
Strength: Key strengths of the genital warts treatment market include the growing prevalence of HPV infections across the world, availability of effective treatment options such as cryotherapy, topical treatments, and surgical procedures. Cryotherapy destroys warts by freezing them and is a quite effective therapy as each session takes less than five minutes. Topical treatments such as imiquimod or podophyllotoxin solutionsare easy-to-use and help clear warts in several weeks.

Weakness: However, short relapse period and possibility of regrowth of warts post treatment are some major weaknesses. The high cost associated with cryotherapy procedures also restricts their widespread adoption in developing nations.

Opportunity: Growing awareness about STDs and their treatment presents significant opportunities. The market also stands to gain from continued investment in new treatment innovations. For example, Phase III trials of a prophylactic HPV vaccine for genital warts are underway by a few key players.

Threats: Strict regulations for new product approvals and unfavorable public healthcare reimbursement policies in various regions pose major threats. Rising competition from generic drugs further intensifies the pricing pressures in the market.

Key Takeaways
The global genital warts treatment market size is expected to witness high growth at a CAGR of 15% during the forecast period of 2019–2027.

Regional analysis:

North America currently dominates the global genital warts treatment market with the United States accounting for the major share. This is due to the growing HPV epidemic, early new product approvals, and extensive health insurance coverage for genital wart therapies in the country.

Key players:

Key players operating in the genital warts treatment market are Merck & Co., Bausch Health Companies, 2A PharmaAB, Allergan, and 3M Pharmaceuticals. Merck is a leading player due to its flagship HPV vaccine, Gardasil which protects against the strains that cause 90% of genital warts in addition to other HPV related cancers.

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