GENITAL WARTS TREATMENT MARKET ANALYSIS

Genital Warts Treatment Market Size and Trends

Global genital warts treatment market is estimated to be valued at USD 1.91 Bn in 2024 and is expected to reach USD 2.72 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

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Increasing awareness among people about sexually transmitted diseases and availability of effective drugs and medicines for treatment of genital warts can drive the market growth. Developing healthcare infrastructure in emerging nations can also boost demand for genital warts treatment. However, social stigma associated with the condition and preference of patients towards non-drug therapies can hamper the market growth. Increasing awareness campaigns by governments and non-profit organizations as well as development of novel treatment therapies can offer new opportunities for the players in the global genital warts treatment market during the forecast period.

Rising prevalence of HPV infections

Increasing prevalence of HPV infections across both developed and developing regions can drive the genital warts treatment market growth. HPV, or human papillomavirus, is the most common STI globally and a leading cause of genital warts. Several strains of HPV are known to cause genital warts, with types 6 and 11 being the predominant strains associated with wart development. As per medical experts, HPV infection rates have surged in recent decades due to changing sexual behaviors such as early initiation of sexual activity, multiple sexual partners, and lack of protective barriers. Moreover, diagnosis of HPV infection has become more efficient with new diagnostic tools broadening the potential patient pool. At least 80% of sexually active individuals can acquire HPV infection at some point in their lives. Individuals with compromised immunity are at higher risk of getting infected. While many HPV infections resolve on their own, a substantial fraction of infected individuals develop visible genital warts that require medical intervention. Since there is no cure for HPV itself, the long-term treatment of recurring symptoms can boost repeat usage of wart remover therapies and surgical procedures. Significant monetary investments are also being made towards HPV vaccination but it will be many years before their effect in reducing transmission becomes evident.

Rising awareness regarding STDs

Rising awareness about sexual health and sexually transmitted diseases (STDs) can drive the global genital warts treatment market growth. With more education and accessibility of information, people are now more knowledgeable about STDs like human papillomavirus (HPV) that can cause genital warts. Various health organizations and government bodies have launched awareness campaigns to promote safe sex practices and highlight the importance of early detection and treatment of HPV and associated conditions. For instance, the World Health Organization (WHO) partnered with National Health Ministries across regions to strengthen sexual health services and counselling. As per WHO in 2022, as  part of its 'Reaching Out' program launched in 2020, WHO aims to build the capacity of primary health workers to provide counselling for STDs, offer testing facilities and ensure access to affordable treatment options.  Such initiatives have raised awareness about HPV as one of the most common STDs worldwide and genital warts as a visible symptom. People diagnosed with genital warts are likely to opt for recommended treatments to get relief from symptoms and reduce the risk of HPV transmission. Growing medicalization of sexual wellness and an expanding patient pool diagnosed with genital warts have encouraged pharmaceutical companies to intensify research and development of advanced treatment solutions. Market leaders are involving clinical studies to evaluate the effectiveness of newer therapeutics like Imiquimod for genital warts.