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Genital Warts Treatment Market Is Expected To Witness High Growth Owing To Opportunity For Cost-Effective Generic Drugs

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kiran gire
Genital Warts Treatment Market Is Expected To Witness High Growth Owing To Opportunity For Cost-Effective Generic Drugs

Genital warts are one of the most common sexually transmitted infections caused due to human papillomavirus (HPV) infection. Genital warts can occur in both men and women on external genitalia or internal areas of the vagina, cervix, or anus. Treatment of genital warts includes cryotherapy, laser therapy, surgical procedures, and topical treatments such as creams and gels containing drugs like podophyllotoxin, imiquimod, and sinecatechins. The global genital warts treatment market is estimated to be valued at US$ 984.2 million in 2023 and is expected to exhibit a CAGR of 15.% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The rising prevalence of genital warts infection and lack of availibility of low-cost treatment options create a notable market opportunity for generic drugs manufacturers. Generic drugs can provide cost-effective treatment options for genital warts compared to branded drugs. According to World Health Organization, generic medicines can reduce the costs of drugs by up to 90%.Thus, the increasing proliferation of generic drug manufacturers who can provide genital warts treatment drugs at affordable prices can capture a major portion of the overall genital warts treatment market during the forecast period. This will enable greater affordability and accessibility of treatment for the genital warts patients globally.

Porter's Analysis

Threat of new entrants: Low as the pharmaceutical industry requires high capital investments for R&D and clinical trials. Bargaining power of buyers: Moderate as there are many established pharmaceutical companies offering treatment options. Bargaining power of suppliers: Low due to availability of alternative treatment options and suppliers. Threat of new substitutes: Moderate as alternative treatment options are available but can be expensive. Competitive rivalry: High as key players compete for a larger market share through innovations and strategic partnerships.

SWOT Analysis

Strengths: Many established pharmaceutical companies with strong R&D capabilities for treatment innovation. Weaknesses: High costs associated with R&D, clinical trials and new drug approvals. Opportunities: Rising global disease prevalence increases treatment market potential. Untapped growth opportunities in developing nations. Threats: Stringent regulatory approvals, side effects of existing drugs, social stigma around transmission.

Key Takeaways

The global genital warts treatment market growth is expected to witness high growth.

Regional analysis

shows North America dominates currently due to high awareness levels and access to advanced treatments. However, Asia Pacific is expected to rise at a faster rate amid growing population.

Key players

operating in the genital warts treatment market are Merck & Co., Genetech Inc., Pfizer Inc., Bristol-Myers Squibb Co., AstraZeneca Plc. According new drug combinations and technologies have led established giants to strengthen their presence through collaborative partnerships. Small enterprises working towards novel drug delivery mechanisms is also anticipated.


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