Telemedicine: Key Revenue Generation Source for Companies amidst COVID-19 Outbreak
Though lockdown regulations have been relaxed in most countries, individuals are still reluctant to visit doctors in person, owing to the fear of acquiring coronavirus (COVID-19). Hence, companies in the warts therapeutics market are tapping opportunities in telemedicine, since individuals prefer remote healthcare services amidst the COVID-19 era. As such, the demand for telehealth technology is anticipated to rise dramatically in the upcoming months and years. Telemedicine apps are helping to expedite the process of quality medical care in the sphere of warts therapeutics.
The critical need for social distancing between clinicians and patients has catalyzed the demand for telemedicine services in the domain of warts therapeutics. Due to high prevalence of active COVID-19 cases in the U.S., telemedicine services are expected to register a staggering market growth during the pandemic. This is expected to drive the warts therapeutics market during the forecast period.
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Microwave Technology Helps to Stimulate Body’s Immune System for Clearing HPV
The microwave technology is an innovative treatment option, which is transforming the market for warts therapeutics. For instance, Scotland-based medical equipment supplier Emblation Ltd., has gained proficiency in microwave technology and named it Swift, which helps to stimulate the body’s own immune system to clear the HPV (Human Papillomavirus). Thus, podiatrists and dermatologists in the warts therapeutics market are benefitting from the introduction of microwave technology devices that are similar to the functionality of mobile phones.
Warts patients in the U.K. have been long-standing sufferers of the HPV. Moreover, limited options for treatment have influenced med-tech companies to gain efficacy in the microwave technology. Since the Scottish Government banned the use of liquid nitrogen in clinics, med-tech companies have gained the opportunity to innovate in the microwave technology. Success stories of patients are fueling the demand for non-invasive microwave technology devices.
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Salicylic Acid Helps Improve Clinical Outcomes Due to Cost Efficiency Attributes
There is a growing demand for wart treatment that offers no scarring post-treatment and provides lifetime of immunity against the HPV. Hence, companies in the warts therapeutics market are increasing their focus in cryotherapy, tissue keratolysis, and immunotherapy to increase patient outcomes. As such, tissue keratolysis involves the use of salicylic acid and is popular in over-the-counter (OTC) options for warts therapeutics. This is evident since salicylic acid, being a chemical destruction treatment option, is expected to register exponential revenue growth in the warts therapeutics market during the assessment period.
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Evidence-based data shows that high efficacy of salicylic acid is grabbing the attention of both clinicians and patients. Salicylic acid’s cost efficiency and less painful attributes are being highly preferred by patients. On the other hand, topical retinoids are also emerging as anti-inflammatory agents that inhibit cell proliferation.
Topical Treatments Highly Preferred by Patients Seeking to Inhibit Cellular Proliferation
Clinical evidence of topical zinc oxide ointment holds promising potentials in warts therapeutics. As such, zinc is associated with immunotherapy, implying that the element regulates the body’s immune system to manage common warts. This explains why the revenue of immunomodulation treatment is projected for aggressive growth in the warts therapeutics market. As such, the global warts therapeutics market is estimated to reach ~US$ 2.4 Bn by the end of 2030.
Ready availability, low cost attributes, and low chance of complications associated with topical zinc oxide ointments are generating incremental opportunities for pharmaceutical companies. Clinicians are recommending zinc oxide ointments for the management of cutaneous viral warts. Similarly, Topical 5-fluorouracil (5-FU) is also emerging as an effective solution for warts, since 5-FU inhibits cellular proliferation. Hence, healthcare professionals are recommending 5-FU application under tape occlusion to derive better results in patients.
Telemedicine Apps Expedite Process of Quality Medical Care for Genital Warts Patients
The trend of telemedicine is bringing about a significant change in the warts therapeutics market. For instance, in December 2019, GenieMD— a California-based virtual care delivery company, has introduced its telemedicine app called iVisit that helps to connect genital warts patients with the best physicians through a virtual visit. Such innovations are bolstering growth for the warts therapeutics market. Thus, telemedicine is helping to expedite the process for acquiring quality medical care, which is currently the need of the hour for patients suffering from genital warts.
Companies in the market of warts therapeutics are increasing their R&D muscle in developing improved formulations of vaccines for patients who have not been previously vaccinated against HPV. On the other hand, manufacturers are increasing their production capabilities to develop prescription creams and gels that help to effectively treat genital warts.
Cryotherapy-Salicylic Acid Combination Therapy Helps Reduce Adverse Events of Scarring
Cryotherapy serves as the gold standard for the treatment of warts. As such, cryotherapy, a part of physical destruction treatment, is expected to lead the warts therapeutics market in terms of treatment types. However, possible risks of scarring and chances of infection due to cryotherapy pose a major concern for warts patients. This explains why the warts therapeutics market is slated to register a modest CAGR of ~3% during the forecast period. Hence, pharmaceutical companies are suggesting combination therapy involving salicylic acid to reduce incidence of adverse events in patients.
On the other hand, cantharidin is acquiring popularity as an ancient Chinese medicine that aids in warts therapeutics. However, cantharidin is not FDA (Food and Drug Association)-approved, which is why patients are ordering the medicine from distributors where it is commonly acceptable to use cantharidin.
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