The Molluscum Contagiosum Market is estimated to grow at higher CAGR OF 10.2%.
Molluscum contagiosum (MC) is an infection caused by a poxvirus (Molluscum contagiosum virus). The infection is characterized by benign lesions on the upper layer of the skin, which can be transmitted by direct skin contact. As per the data published by National Centre for Biotechnology Information, children aged 1–14 years are more likely to get affected by the virus, where the incidence rate ranges from 12 to 14 incidents per 1000 children per year. Similarly, the National Disease and Therapeutic Index Survey shows Molluscum contagiosum is most common in the U.S. and accounts for approximately 1% of all skin disorders.
People with weakened immune systems (i.e., HIV-infected persons or persons being treated for cancer) are also susceptible to MC infection. It also spreads through fomites, i.e., an inanimate object that gets contaminated with the virus, such as clothing and towels, bathing sponges, swimming pool equipment, and toys. The symptoms generally include lesions without pain, itching, or redness, and it is shaped in a dome-like lesion with a dimple in the center. Furthermore, there is no direct diagnostic test for the identification of the infection. However, the physician may perform a skin biopsy, i.e., the removal of a portion of skin for closer examination.
In the last few years, the prevalence of MC has been increasing at a concerning rate, which is further grabbing maximum investments from the leading players that are actively working to seek approval of novel therapies in late-phase clinical trials. On 27th November 2019, Verrica Pharmaceuticals announced the FDA filing of new drug applications for the treatment of MC. Similarly, Novan, Inc. announced a pipeline drug for the treatment of the disease, which is in Phase 3 of the clinical trials
Currently, the MC market is cantered with a number of therapies, including the destruction of lesions by cryotherapy, curettage, laser, and salicylic acid. Similarly, immune-modulating therapies, such as topical imiquimod, cimetidine, and chemical methods such as trichloroacetic acid, cantharidin, tretinoin, tazarotene, and podophyllotoxin, are extensively used for the treatment of MC. However, cryotherapy and curettage are grabbing the highest share as it shows effective results in limited time.
Whereas, curettage requires a topical anesthetic application, which requires skill and patient acceptance. It can cause hyperpigmentation and can be painful for children.
Salicylic acid is also used to treat MC as it is convenient in terms of cost and causes minimal discomfort. Furthermore, some of the immunotherapies are based on the stimulation of immune response that can eliminate the viral infection. In line with the increasing prevalence of MC, a number of leading players are robustly working on many new therapies, such as VP - 102 (Verrica Pharmaceuticals), SB206 (Novan/Ligand Pharmaceuticals), and VBP - 245 (Veloce Biopharma), among others.
The MC market is majorly driven by the fear of transmission and raising awareness regarding MC. If left untreated it can lead to social stigma, anxiety, skin inflammation, and secondary infections.
Currently, the vaccination for MC treatment is witnessing huge demand in the global market as there is no commercial vaccine available for molluscum contagiosum infections. Vaccination treatment is a cost-effective process as it reduces unnecessary hospital stays. Until the development of vaccines, the treatment for MC infection was completely dependent on topical therapies in the market. However, the leading players are arduously working to develop several new therapies for the treatment and prevention of MC infections. For instance, Verrica Pharmaceutical developed Cantharidine Topical Solution for the treatment of MC infection. Similarly, several companies are engaging in research and clinical trials for the development of novel MC therapeutics. For instance, Novan Inc developed SB206 for the treatment of MC is in Phase 3 of the clinical trials.
As per our research, the global molluscum contagiosum market is worth over USD 2000 million. The U.S. is grabbing one of the highest shares in the MC market, which is around 55% of the total market. Whereas, Europe is dominating the molluscum contagiosum treatment market due to the increasing prevalence of MC in the region. However, the prevalence of MC infection is greater in some regions like South America, Africa, and the Asia Pacific, but there are no effective permitted drugs therapies, which is further driving the market growth.
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