Genital Warts (Condyloma Acuminatum) Market

Genital Warts Market Snapshot (2023 to 2033)

The global genital warts (condyloma acuminatum) market is expected to reach a valuation of USD 1.87 Billion in 2023 and is projected to increase to USD 3 Billion by 2033, with a CAGR of 4.84%. The dynamics of the genital warts market are expected to change in the coming years owing to the expected launch of emerging drugs. Key players, such as Tamir Biotechnology (Orgenesis), Verrica Pharmaceuticals, Novan Inc., and others, are developing drugs for genital warts.

Moreover, successful, and well-communicated vaccination programs have increased public knowledge of vaccines and their advantages, resulting in greater vaccine uptake. In addition, increased vaccination coverage has been linked to a lower occurrence of genital warts.

Factors such as the rise in the prevalence of sexually transmitted diseases (STDs) and human papillomavirus infections and growth in the male population are further anticipated to boost the overall growth of the genital warts treatment market within the forecast period. Furthermore, the genital warts market is fuelled by the increasing availability of therapies developed for self-target applications.

Additionally, the quadrivalent HPV vaccination has been proven to prevent genital warts and cervical cancer. The effectiveness of Imiquimod topical administration may be boosted by concurrently using an IL-10 inhibitor, attracting more T-cells and destroying HPV-infected keratinocytes of genital warts, evoking a stronger therapeutic response than vaccination.

Moreover, the therapeutics landscape and genital warts market expects more patient-applied modalities that provide the simplicity of application, safety, and the benefit of self-administration. The rising incidence of various malignancies underlines the disparity in exposure and risk factors between genital wart patients and the general population. The paucity of effective data and alternate treatment regimens makes it challenging for doctors to deliver the appropriate treatment when initial treatments fail. Thus, all the factors mentioned above act as an obstruction to the growth of the genital warts market.

Lack of awareness about the diagnosis & treatment of such diseases and the high cost of treatment are some factors restricting growth. There is a high unmet need for targeted drugs with enhanced clinical profiles at low costs and convenient administration schedules. However, increasing Research and Development expenditure on oncologic diseases offers a promising future for the market in the foreseeable future.

Data Points	Key Statistics
Expected Market Value (2023)	USD 1.87 Billion
Anticipated Forecast Value (2033)	USD 3 Billion
Projected Growth Rate (2023 to 2033)	CAGR 4.84%

2018 to 2022 Genital Warts Demand Analysis vs. Forecast 2023 to 2033

The global industry for Genital Warts was valued at around USD 1 billion in the historical period while exhibiting a CAGR of 2.02%. The pandemic negatively affected the market but noteworthy growth was witnessed during the post-pandemic period.

Moreover, the increasing availability of therapies developed for self-target applications and the use of physical destruction treatment therapies such as Cryotherapy and other chemical treatments in treating Genital warts have augmented market growth. Considering these factors, FMI has projected the market to grow at a CAGR of 4.84%, while reaching a valuation of USD 3 Billion by end of the forecast period.

Which are Some Prominent Drivers of the Genital Warts Market?

Emerging therapies to propel the Market Growth

The genital warts market is fuelled by the increasing availability of therapies developed for self-target applications. Additionally, the quadrivalent HPV vaccination has been proven to prevent genital warts and cervical cancer. The effectiveness of Imiquimod topical administration may be boosted by concurrently using an IL-10 inhibitor, attracting more T-cells and destroying HPV-infected keratinocytes of genital warts, evoking a stronger therapeutic response than vaccination

Additionally, the growing focus of pharmaceutical manufacturers on the development of therapeutics that can be administered by the patient themselves and growing levels of availability for therapeutics designed for target applications/indications of HPV globally will also augment the genital warts treatment market in the forecast period.

Also, increasing research and development for therapies and treatments are to further extend suitable prospects for the growth of the genital warts treatment market in the near future.

What are the Challenges Projected to be Faced by the Market?

Unawareness and complications regarding vaccines and therapies hinder the growth

The undiagnosed, unreported cases and the unawareness about the disease remain the primary aspects that restrict genital warts market growth. In addition, current treatments for genital warts are mostly ablative or topical administrations of Imiquimod cream and Sinecatechins (Polyphenon E) ointment, but major issues with low patient compliance and high recurrence rates have been noted due to systemic adverse effects.

Furthermore, due to the length of time required for successful treatment and high recurrence rates, the present genital warts treatment paradigm, which includes manual excision of warts, is far from optimum. Patients with genital warts are more prone to develop HPV-related cancers, particularly anogenital malignancies, thus hampering the growth of this market.

The complications linked with the utilization of vaccines and therapeutics for the HPV virus might hamper the market’s growth which can be one of the challenging factors within the forecast period. Existing treatment procedures are often painful or invasive, and can have undesirable outcomes such as scarring or dyspigmentation that often requires repeat visits. This results in a decrease in the diagnostic rate, which in turn, is likely to restrain the genital warts therapeutics market.

Furthermore, there are no specific treatments available for genital warts. The most commonly used treatments are cauterization and freezing. On the other hand, topical skin medications that are generally prescribed for the treatment of warts are commonly prescribed for skin conditions and skin cancers as well. These aforementioned factors will hold back the market expansion.

Region-Wise Insights

North America is expected to dominate the Genitals Warts Market

In terms of revenue, North America dominated the genital warts market with a market share of 40% followed by Europe. the market is growing with a CAGR of 4.2% in the forecast period of 2023 to 2033 and is expected to attain a valuation of USD 1.5 Billion by 2033.

Well-established healthcare infrastructure, rising prevalence of STDs and genital warts cases, early adoption of advanced products, and presence of key players are major factors that are anticipated to drive the market in the region. Moreover, focus on research & development by leading players is expected to boost the market.

APAC to be the Fastest Growing Market for Genital warts

Asia Pacific region is projected to observe the fastest growth throughout the forecast period. Swift economic development, improvements in healthcare infrastructure, increase in disposable income, and rise in consumer awareness are likely factors that contribute to regional growth.

Emerging economies of China, India, South Korea, and others are anticipated to observe strong growth in the coming years. The market is projected to grow with a CAGR of 4.5% in the forecast period and is expected to reach USD 900 Million by 2033.

Category wise Insights

Hospital Pharmacies be the dominant Channel of Distribution for Selling Genital Warts Treatment Drugs

Hospital pharmacies are expected to capture the largest share among distribution channels by 2033. Hospital pharmacies preserve the stock of products related to HPV-associated disorders like Genital Warts, mainly for outpatients and inpatients.

The segment will be driven by growing consumer awareness and increased investments in healthcare infrastructure across developing and underdeveloped economies.

Chemical Treatment of Genital Warts to be Most Preferred

The chemical treatment segment is expected to dominate the global genital warts therapeutics market, in terms of revenue by 2033. The use of Imiquimod (Aldara, Zyclara), Podophyllin and podofilox (Condylox), Trichloroacetic acid, and Sinecatechins (Veregen) are expected to fuel the market growth of genital warts during the forecast period.

Start-ups in Genital Warts Market

• Founded in 2009, ‘Cassiopeia’ is an Italian, clinical-stage pharma company focused on dermatology. Their initial focus is on the topical treatment of acne, androgenic alopecia, and genital warts. They have 4 drug candidates in clinical development: Winlevi, for acne- in Phase III trials, Breezula for androgenic alopecia - in Phase II trials, CB - for acne in phase II, and CB - for HPV in Phase I. The company was originally called Cosmo Dermatos and changed its name to Cassiopea in Apr.2015. It received funding from Dievini
• Swift is a Melbourne, Australia-based, Developer of a device for the treatment of HPV warts. The device Swift delivers microwave energy directly into the affected tissue which releases immune system signaling molecules to fight human papillomavirus which causes warts.
• Founded in 2014, PathoVax is a USA-based start-up that is focused on the development of universal Human Papillomavirus (HPV) vaccine to provide prophylaxis against all HPV-related cancers and diseases. The company claims that its pilot vaccine, RGVax, promises to provide protection against all 15 oncogenic HPVs and many others that cause various warts. It received a total funding of USD 9.75 Million.

Market Competition

Key players in the Genital Warts market are Verrica Pharmaceuticals, Tamir Biotechnology, Novan Inc., Medicis Pharmaceuticals, Aresus Pharma, AbbVie, Sanofi S.A., AbbVie Inc, Perrigo Company PLC, Glenmark Pharmaceuticals. Some key developments in this market are:

• In 2019, GenieMD, a global provider of telemedicine services, launched its telemedicine app iVisit which would allow patients to be diagnosed and treated for genital warts via a virtual visit with a physician.
• In August 2018, Oceanside Pharmaceuticals, a company which provides pharmaceutical services, launched an authorized generic version of Bausch Health’s Zyclara (imiquimod) 3.75% cream pump. Zyclara (imiquimod) 3.75% is indicated for the topical treatment of external genital and perianal warts/condyloma acuminate (EGW) in patients of age 12 years or older.
• In June 2020, Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc., had declared the US FDA approval for GARDASIL9 (Human Papillomavirus 9-valent Vaccine, Recombinant) for the prevention of HPV-related cervical, vaginal, vulvar, anal, oropharyngeal, and other head and neck cancers. The FDA approval received would result in addressing the unmet clinical needs of the patients, and increased distribution of the vaccine in hospitals and cancer research institutes, for the rise in product sales.

Report Scope

Report Attribute	Details
Market Value in 2023	USD 1.87 Billion
Market Value in 2033	USD 3 Billion
Growth Rate	CAGR of 4.84% from 2023 to 2033
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD Billion and CAGR from 2023-2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Treatment, Distribution Channel, Region
Regions Covered	North America; Latin America; Europe; South Asia & Pacific; East Asia; Middle East & Africa (MEA)
Key Countries Profiled	The USA, Canada, Brazil, Mexico, Mexico, Germany, The UK, France, Spain, Italy, India, Malaysia, Singapore, Thailand, China, Japan, South Korea, Australia, New Zealand, GCC countries, South Africa, Israel
Key Companies Profiled	Verrica Pharmaceuticals; Tamir Biotechnology; Novan Inc.; Medicis Pharmaceuticals; Aresus Pharma; AbbVie Inc.; Sanofi S.A.; Perrigo Company PLC; Glenmark Pharmaceuticals
Customization	Available Upon Request

Key Segments Profiled in the Genital Warts Market Industry survey

Genital Warts Market by Treatment:

• Chemical Treatment
• Ablative Treatment
• Preventive Treatment
• Other Treatments

Genital Warts Market by Distribution Channel:

• Hospital Pharmacies
• Retail pharmacies
• Online Pharmacies

Genital Warts Market by Region:

• North America
• Latin America
• Europe
• South Asia and Pacific
• East Asia
• Middle East & Africa (MEA)

Frequently Asked Questions

What is the anticipated growth of the Genital Warts market until 2033?

FMI projects the global genital warts market to expand at a 4.84% value CAGR by 2033.

What is the estimated market value of the Genital Warts market expected in 2033?

The global genital warts market is expected to garner a market value of USD 3 Billion by 2033.

Which region is forecast to be the most lucrative for genital warts market growth?

FMI has projected North America to be one of the most profitable regions for the Genital Warts market.

Which region is expected to grow fastest during the forecast period?

APAC region is expected to grow fastest during the forecast period.