Actinic Keratosis Treatment Market Analysis
The global actinic keratosis treatment market is predicted to touch USD 6,088.4 million at a 4.20% CAGR over the forecast period (2015-2024), states the new Market Research Future (MRFR) report. Actinic keratosis, simply put, is a scaly, rough patch on the skin which results from years of sun exposure. It is commonly found on the neck, scalp, forearms, back of the hands, ears, lips, or face. The size varies from a small inch to about a diameter, and when left untreated, such areas of the skin can turn into a serious type of skin cancer. Change in the color of the skin (brown, flesh-colored, or pink), hard wart-like surface, burning sensation and itching, and rough, patchy, scaly skin are some of its common symptoms.
No two cases will appear the same, yet is likely to share similar features such as sandpaper texture, crusty patches, raised patches, and red scales. Though anyone can develop actinic keratosis, but those with fair skin, particularly blonde or red hair, green or blue eyes, or skin that easily burns or freckles have a higher risk of experiencing actinic keratosis.
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Various factors are propelling the actinic keratosis treatment market growth. These factors, according to the new MRFR report, include its increasing prevalence, increasing acceptance of therapeutic procedures that are minimally invasive, growing geriatric population, and the presence of suitable medical coverage. Additional factors pushing market growth include the availability of suitable medical attention and environmental factors such as excessive sun exposure and ozone depletion.
On the flip side, high cost of treatment, risk factors related to the available treatment, low penetration of actinic keratosis treatment market especially in developing economies, and scarcity of skilled medical professionals are factors that may impede the actinic keratosis treatment market growth over the forecast period.
Market Segmentation
The MRFR report provides a complete segmental analysis of the actinic keratosis treatment market report on the basis of end user, procedure, and medication.
Based on medication, the actinic keratosis treatment market is segmented into diclofenac gel, ingenol mebutate gel, imiquimod cream, fluorouracil cream, and others.
Based on procedure, the actinic keratosis treatment market is segmented into chemical peels, laser, photodynamic therapy, cryotherapy, and others. Of these, the cryotherapy segment will have the largest share in the market over the forecast period. This is a common treatment used for actinic keratosis.
Based on end user, the actinic keratosis treatment is segmented into ambulatory surgical centers, dermatology clinics, and hospitals and oncology centers. Of these, the hospitals and oncology segment will dominate the market over the forecast period.
Regional Analysis
By region, the actinic keratosis treatment market report covers the latest trends and growth opportunities across the Asia Pacific, Europe, the Americas, and the Middle East and Africa. Of these, the Americas will spearhead the market over the forecast period. Factors aiding growth in the region include easy availability of advanced treatment methods such as monotherapy and combination therapy and increasing efforts taken on cancer research in the region.
The actinic keratosis treatment market in the APAC region is predicted to have significant growth over the forecast period. Factors aiding growth in the region include growing government support for medical tourism, rising healthcare spending, rising literacy rates, rapidly growing healthcare infrastructure, and rising disposable income. India, Japan, and China are the key contributors in this region.
The actinic keratosis treatment market in Europe will have a favorable growth over the forecast period while the Middle East and Africa will experience sluggish growth.
Actinic Keratosis Treatment Market Key Players
Leading players profiled in the actinic keratosis treatment market report include Cipher Pharmaceuticals Inc., Valeant Pharmaceuticals, Sun Pharmaceutical Industries Ltd., Alma Lasers, Stanford Chemicals, 3M, Leo Pharma, BioLineRx, and Biofrontera AG. Various strategies have been adopted by key players to create a foothold in the market such as research and development activities, joint ventures/partnership, mergers and acquisitions, collaborations, expansions, product launches, and development.
January 2019: Athenex Inc. has entered into a partnership with Chongqing Jingdong Junzhou Pharmaceuticals Co. Ltd for the development of KX2-391 to treat actinic keratosis in China.
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