COVID-19 Impact on Warts Treatment in Healthcare Industry
COVID-19 spread cursorily across the various countries of the globe, with high number of cases reported worldwide. We can see the impact of COVID-19 on global economy. The COVID-19 has given rise to many complex challenges in the front of different health care companies which has badly influenced the global economy. The first case of COVID-19 was reported in the city of Wuhan, China from where it has speeded every region of the world and become pandemic for world. This pandemic situation has badly affected healthcare companies and pharmaceutical sector.
Warts are common skin growths caused by a virus human papillomavirus (HPV). They are not cancer and don’t turn into cancer. Warts can spread to other people and other part of body by come in contact.
COVID-19 also affected the market by influencing price of warts treatment, demand and supply of warts treatment products and various strategic decisions taken by manufacturers of warts treatment products.
The price of drugs used in treatment of warts increased during the COVID-19. Price of drug Leflunomide increased during pandemic because this drug is used for both COVID-19 infection and for warts treatment due to its immunosuppressive and antiviral activity. Leflunomide is a potential option for post transplantation patients with skin warts and small-scale medication of Leflunomide is also used in treatment of COVID-19.
During COVID-19, the need for successful treatment of different types of skin disorders such as warts is rising due to people's fear of COVID-19 infection.
• Cryotherapy with liquid nitrogen is one of very effective treatment of warts. The cure rates of 50 to 70% after three or four treatments. Due to spread of COVID-19 there is variation in rate of cryotherapy. Now the rate of cryotherapy increased to USD 60 to USD 100 for single session from USD 30 for one session.
• Pulsed dry laser is a laser treatment used for the treat warts. There is variation in the price of pulsed dry laser treatment due to spread of COVID-19. The price of pulsed dry laser increased to average cost of USD 725 for on session from USD 500 per session
IMPACT ON DEMAND
COVID 19 is expected to be opportunity for the markets. Because many immunosuppressive drugs such as Leflunomide are used for treatment of both post transplantation patients with skin warts and Coronavirus due to its immunosuppressive and antiviral activity. Due to this the demand of warts treatment is increased.
COVID-19 has led to the closure of many manufacturing plants and companies of various region of world. Due to closure of manufacturing plants in various regions the global economy has very badly affected.
• As we know that wart is define as common skin disorder caused by human papillomavirus (HPV). It spread from one part of body to other part and one person to other person by come in contact. It has been estimated that 70% of sexually active women become infected during their life time with human papillomavirus (HPV)
• According to Peritech Pharma, it is estimated that only up to 5% of HPV carriers develop genital warts. 45% of genital warts patients are belonging to age group of 14 and 19. This directly led to increase in demand of wart treatment.
IMPACT ON SUPPLY
As COVID-19 spreading began in China and China is world supplier of raw material for the production of various pharmaceutical products. Due to spread of COVID-19 lockdown have imposed by government of various countries. There are restrictions on cross country transportation such as air freights ban across the globe. The transportation restrictions have direct impact on supply chain. This led to a decrease in supply of APIs needed for drug manufacturing. This shortage of API also led to increase in price and demand raw material.
These shortages also act as great opportunity for many domestic companies for increasing the sale of their products and become leader of respective market.
• Due to spread of COVID-19 we have to face health crisis and an economic disaster across the world. Since the manufacturing activities in China and India shut down. One of major reason of shut down of manufacturing activities in India is the shortage of raw material or APIs which are majorly supplied from the Chine to all over the world. This led to increase in price and demand of many pharmaceutical products.
• Due to spread of COVID-19 there are restrictions in manufacturing and logistic activities have been suspended. In order to satisfy the need for food grains, ingredients, medication and other important products, an action plan to counter pandemic-based disturbances has been proposed.
STRATEGIC DECISIONS OF MANUFACTURERS
Major players of the market companies are taking many decisions in order to cope up with the current scenario of COVID-19 pandemic. The companies engaged in manufacturing of wart treatment products are collaborating so as to accelerate the market growth.
Collaboration, agreements, strategic initiatives by market players such as Cutanea Life Sciences, Inc, Verrica, Merck & Co., Inc, Cassiopea, Bausch Health Companies Inc among others in the market will help them to expand their product portfolio. This in turn will lead to increasing product sales and hence will enhance the overall company’s revenue.
Companies have already taken several kinds of strategic initiatives in order to cope up with the Coronavirus situation.
• In August 2019, Cutanea Life Sciences, Inc is developing CLS001 for the treatment of common warts. CLS001 is currently in phase III trial. If trial successful, it will most awaited treatment options for the patients with warts.
• In June 2019, Verrica Pharmaceuticals reported positive topline results from phase II, open label clinical trial (COVE-1) for VP-102 to be developed for the treatment of common warts.
• In July 2018, Cassiopea announced the availability of proof of concept for their Phase II clinical trial being conducted for "CB-06-02" topical 15% immune modulator tellurium-based gel designed for the treatment of genital warts at an extreme level.
• In June 2018, Merck & Co., Inc. announced that they had received the U.S. FDA approval for the new supplemental review submitted by the company of a supplemental Biologics License Application for “GARDASIL”, 9-valent HPV vaccine. The review is for expansion of age indication of the drug covering nine HPV types and their treatment.
• In February 2020, Bausch Health Companies Inc. launched a new telemedicine platform on Dermatology. Com in the U.S. This website allows patients to consult with a healthcare professional in order to receive prescription on demand for various dermatology products such as ALDARA, SOLODYN.
The pandemic of COVID-19 has resulted in several restrictions throughout the borders. There is great economical unbalance throughout the world. Many segments have to face economic crises, but still manufacturers of warts treatment products are able to manage their stocks.
Various manufacturers are continuously engage in conducting clinical trials for demonstrating the safety and efficacy of warts treatment along with this they are constantly monitoring the supply chain so as to attain a lucrative growth. Rise in price is also beneficial for companies. They are gaining extra profit which is helping them to combat the negative effect on overall revenue.