Molluscum Contagiosum Treatment Market
Number of pages: 100 | Report Format: PDF | Published date: April 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 2.73 Billion |
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Market Size Value in 2031 |
US$ 4.07 Billion |
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CAGR |
4.56% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023 to 2031 |
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Historical Year |
2021 |
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Segments Covered |
Treatment Type, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus, the global molluscum contagiosum treatment market was valued at US$ 2.73 billion in 2022 and is expected to register a revenue CAGR of 4.56% to reach US$ 4.07 billion by 2031.
Molluscum Contagiosum Treatment Market Fundamentals
Molluscum contagiosum is a viral skin infection that forms clusters of umbilicated epidermal papules. Molluscum contagiosum is more common in newborns and young children under ten years. It is more common in hot regions than temperate climates, particularly in congested situations. Adolescents and adults are less likely to be infected. Molluscum contagiosum is more common and lasts longer in children with atopic dermatitis due to skin barrier deficits. It can be severe and distressing in people with human immunodeficiency virus (HIV) infection or other causes of impaired immune function.
The molluscum contagiosum treatment market is predicted to expand significantly in the forecast years. There is a possibility of advances in molluscum contagiosum treatment options with continued research and development. During the forecast period, new antiviral medicines, immunomodulators, and topical therapies with enhanced effectiveness and safety profiles will likely be introduced. These innovations can potentially improve patient treatment results while creating prospects for new product introductions.
Moreover, in emerging nations, the global molluscum contagiosum treatment market has high potential due to rising healthcare spending, increasing awareness, and improved healthcare infrastructure to promote the demand for molluscum contagiosum treatment. However, companies also consider these emerging markets' regulatory requirements and cultural differences to ensure successful market entry. Additionally, partnerships with local healthcare providers may be beneficial in navigating these challenges and building trust with the target population.
Moreover, many established dermatological companies are attempting to extend their product line with advanced products. This might be capable of acquiring, partnering with, or collaborating with smaller companies or research organizations with unique therapeutic alternatives.
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Molluscum Contagiosum Treatment Market Dynamics
The rising prevalence of molluscum contagiosum, mostly in children and immunocompromised individuals, is the key factor driving the global molluscum contagiosum treatment market revenue share. According to Medscape, molluscum contagiosum is a prevalent disease that accounts for around 1% of all skin problems identified in the United States. Furthermore, immunocompromised adults, such as those with HIV/AIDS or other underlying health issues, may be at a higher risk of acquiring molluscum contagiosum.
The increasing awareness among people regarding available treatment options and the rising demand for effective therapies are expected to boost the growth of the global molluscum contagiosum treatment market revenue. Additionally, introducing novel drugs with improved efficacy and safety profiles will provide lucrative opportunities for market players in the coming years. In March 2023, the U.S. Food and Drug Administration (FDA) approved Verrica Pharmaceutical's VP-102 to treat molluscum contagiosum. VP-102 was developed for the reliable and targeted administration of cantharidin using a novel, topical, GMP-controlled formulation administered via a single-use applicator. VP-102 has the potential to provide an essential new treatment option for molluscum based on the impressive safety and effectiveness findings from our two Phase 3 clinical studies.
Moreover, pharmaceutical and biotechnology companies are investing in research and development to discover innovative treatment options for molluscum contagiosum. To increase the efficacy and safety of molluscum contagiosum medicines, the companies are conducting clinical studies, experimenting with new medication formulations, and testing novel treatment techniques. For instance, combination therapy is a novel treatment option for molluscum contagiosum. The effectiveness and tolerance of topical cantharidin and imiquimod 5% in treating molluscum contagiosum (MC), a novel combination therapy, has resulted in more than 90% of lesions resolving, with half completely immaculate. This combination of cantharidin and imiquimod in children is efficacious and well-tolerated for molluscum contagiosum.
Despite the high prevalence of molluscum contagiosum, lack of awareness about the condition and its novel treatment options among healthcare professionals and patients is a major restraining factor for the revenue growth of the molluscum contagiosum treatment market. However, increasing research and development activities for effective treatment options will also create lucrative opportunities for market players during the forecast period.
Molluscum Contagiosum Treatment Market Ecosystem
the global molluscum contagiosum treatment market is analyzed from three perspectives: treatment type, end user, and region.
Molluscum Contagiosum Treatment Market by Treatment Type
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Based on treatment type, the global molluscum contagiosum treatment market is segmented into cryotherapy, curettage, topical treatment, immune-modulating therapies, and others.
In 2022, the topical treatment segment dominated the global molluscum contagiosum treatment market in terms of revenue share. This can be attributed to topical treatments' high efficacy and convenience, which are easy to apply and do not require special equipment or medical expertise. Moreover, minimal side effects and the ability to target specific areas of the skin are other advantages of the topical treatment. Additionally, topical treatments can be used on children and pregnant women as they are non-invasive, painless, and easily applied at home.
Cryotherapy is a medical procedure that involves the use of extreme cold to destroy abnormal tissues. It is an effective treatment for molluscum contagiosum, a viral skin infection that causes small, raised, wart-like bumps on the skin. Moreover, cryotherapy is considered a safe and effective treatment for molluscum contagiosum that can be performed easily in the clinic. It has been shown to have high success rates and minimal side effects, making it a popular choice among patients and healthcare providers.
However, the immune-modulating therapies segment is expected to show significant growth in the coming years due to its ability to address the underlying cause of molluscum contagiosum and prevent a recurrence. Furthermore, immune modulating therapies boost the body's immune system to fight off the virus and prevent the infection's spread, resulting in more effective treatment solutions.
Molluscum Contagiosum Treatment Market by End User
Based on the end user, the global molluscum contagiosum treatment market is segmented into hospitals, dermatology clinics, and others.
In 2022, the hospital's segment accounted for a large revenue share of the global molluscum contagiosum treatment market. Hospitals provide the best treatment for molluscum contagiosum as hospitals consist of specialized medical professionals trained to diagnose and treat skin conditions. Additionally, hospitals are equipped with advanced medical equipment and medications that may not be available in other healthcare settings.
The dermatology clinics segment is expected to show lucrative revenue growth during the forecast period. Dermatology clinics offer specialized care for molluscum contagiosum, ensuring accurate diagnosis and effective treatment. Additionally, dermatologists can provide personalized advice on preventing future outbreaks and maintaining healthy skin. Dermatology clinics can also offer cosmetic treatments such as Botox, fillers, and chemical peels to help patients with post-treatment side effects. These treatments are performed by trained professionals using safe and effective techniques.
Molluscum Contagiosum Treatment Market by Region
Based on the region, the global molluscum contagiosum treatment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the highest revenue share in 2022. The increasing prevalence of molluscum contagiosum and the rising demand for effective treatment options are the major factors driving the North American molluscum contagiosum treatment market revenue. Additionally, the growing awareness about skin diseases and the availability of advanced diagnostic tools are expected to boost the regional revenue share.
The European molluscum contagiosum treatment market is characterized by the high prevalence of the disease and a growing demand for effective treatment options. The market is expected to grow significantly due to the increasing awareness about the disease and the availability of advanced treatment options. Moreover, many top players in the region are expected to raise awareness about the advanced treatment options for molluscum contagiosum.
The Asia Pacific molluscum contagious treatment market is expected to show high revenue growth due to several companies operating in the molluscum contagiosum treatment market. The Asia Pacific economic expansion has increased disposable income and healthcare spending. People with larger financial means are more likely to seek medical treatment for molluscum contagiosum, resulting in a greater demand for treatment choices.
Molluscum Contagiosum Treatment Market Competitive Landscape
The competitive landscape of the molluscum contagiosum treatment market is extremely competitive, with both small and major competitors present. Pharmaceutical businesses with FDA-approved therapies are major competitors in the market. In addition, the market is also witnessing a surge in demand for advanced treatment options. This has led to a significant increase in research and development activities aimed at developing effective and affordable treatments for molluscum contagiosum.
The prominent companies operating in the global molluscum contagiosum treatment market with the largest revenue share are,
Molluscum Contagiosum Treatment Market Recent Developments
One of the growth opportunities for the global molluscum contagiosum treatment Market is the introduction of novel antiplatelet drugs and increasing research and development activities.
The global molluscum contagiosum treatment market was valued at US$ 2.73 billion in 2022.
Some major strategies key market players adopt in the molluscum contagiosum treatment market include mergers and acquisitions, partnerships, collaborations, and new product launches. These strategies help companies to expand their product portfolio, strengthen their market position, and enhance their geographic presence.
The topical segment accounted for the majority of revenue share in 2022.
The global molluscum contagiosum treatment market is expected to register a revenue CAGR of 7.85% during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain