Actinic Keratosis Treatment Market

The global actinic keratosis treatment market size was valued at USD 6.2 billion in 2020 and is anticipated to expand at a CAGR of 4.7% during the forecast period, 2021-2028. The growth of the market is attributed to the technological advancement that is undertaken in the study of actinic keratosis treatment along with the introduction of latest techniques, products and biosimilars due to the high occurrences of this disease.
 

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Actinic Keratosis is a skin disorder which is induced by severe ultraviolet light exposure. This disease is pre-cancerous in nature, and forms an area of scaly, crusty, or thick skin on the exposed lesion. If this disease is left untreated, it could formulate into higher forms of skin cancer academically known as squamous cell carcinoma. The most prominent cause of actinic keratosis is solar radiation having a large variety of mechanisms. Through these radiations, even tumors can be found at skin which needs to be rectified immediately. There is also the genetic aspect of people getting affected by actinic keratosis or through extreme high variant of dry skin. However, these forms can be easily treated with maximum efficacy. According to the World Health Organization or the WHO, an estimate of around 57 million people have been diagnosed with actinic keratosis in 2020 and needs to be treated before reaching higher levels towards cancer.

The COVID-19 pandemic has reduced the growth of the global actinic keratosis treatment market initially. However, upon further studies, researchers and scientists found out that the coronavirus has the viral gene of accelerating illness of the hosts. Basically, a patient of actinic keratosis was more susceptible to the COVID-19 virus than that of a healthy person. This steered to hospitals, clinics, and healthcare laboratories to focus more on the diagnosis of actinic keratosis for the prevention and treatment of diseases and this led to its market growth.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in spending and investing by the companies towards the diagnosis of actinic keratosis is the primary reason for the projection of boosting the market growth during the forecast period, 2021-2028.
• Rapid growth of the biopharmaceutical companies and thereby that industry can become a major factor in the boosting of the global actinic keratosis treatment market during the forecast period.
• High prices for the development of actinic keratosis treatment & NSAID drugs and high cost of services from the company’s perspective is anticipated to hinder the global actinic keratosis treatment market growth. This becomes extremely difficult to function in developing countries such as India, South Africa, and Brazil where there is limited healthcare infrastructure with regards to actinic keratosis treatment.
• The treatment program for actinic keratosis highly varies from individual based on the genetic factor and the environment the patient is brought upon. For some people, actinic keratosis treatment can be counterproductive as they might be allergic to the equipment or ailments used to them. This uncertainty can hamper the actinic keratosis treatment market growth.
• R&D investment and technological advancement are expected to offer significant opportunities for the market players. Latest techniques includes the improvement of novel treatments having improved efficacy, reduced cost, and convenient dosages.

Scope of the Report

The report on the global actinic keratosis treatment market size includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Global Actinic Keratosis Treatment Market Segment Insights

Topical segment is projected to represent a large market share
Based on therapies, the global actinic keratosis treatment market is divided into topical, surgery, and photodynamic therapy. The topical segment is expected to constitute the major share of 24.5% of the market in 2019. The major reason attributing to this market growth is the ease of availability of these methods combined with the deep market penetration. Topical treatments can be used to target a large area of both visible and invisible parts of the skin. They are also known as field therapies as they have the lowest risk in scarring.

Meanwhile the photodynamic therapy segment is anticipated to grow with a significant CAGR during the forecast period, 2021-2028, owing to the increasing significant commercial opportunities and market absorption.

Nucleoside metabolic inhibitors segment is estimated to register a huge market share
On the basis of drug classes, the global actinic keratosis treatment market is divided into nucleoside metabolic inhibitors, NSAIDs, immune response modifiers, photoenhancers, and others. The nucleoside metabolic inhibitors segment is expected to constitute the major share of the market in 2019 owing to the steady sales of their products such as Efudex, Tolak, Fluoroplex, and Carac.

Meanwhile the photoenhancers segment is anticipated to grow with a significant CAGR during the forecast period due to the increasing significant commercial opportunities along with relatively low competition.
      
Hospitals segment is anticipated to register a huge market share
Based on the end-users, the global actinic keratosis treatment market is divided into hospitals, private clinics, homecare, and others. The hospitals segment is expected to constitute the major share of the market in 2019. The major reason attributing to this market growth is the increase in funding to establish better healthcare infrastructure, particularly in developing economies such as China and India.

Meanwhile the homecare segment is anticipated to grow with a significant CAGR during the forecast period, 2021-2028, due to the increase in high customer awareness along with multiple self-treatment and care options available. There is also a number of increasing opportunities for nurses and caregivers in the home healthcare services which acts as a major propeller for this segment growth.
 

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 North America is anticipated to dominate the market
On the basis of regions, the global actinic keratosis treatment market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America is expected to constitute a major share of 36.9% in 2020. This regional market growth can be attributed to the growing research & development expenditure along with the rising in adoption of the latest technology. The demand of actinic keratosis treatment services is increasing rapidly in this region due to the presence of the major market players in the actinic keratosis treatment market, an advantage other regions do not have. The cost of expenditure is significantly lower in North America than that of other economies. However, the market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period, 2021-2028, as they have prioritized the cost-efficiency perspective of actinic keratosis treatment combined with their growing population.
 

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Segments

Segments Covered in the Report
The global actinic keratosis treatment market size has been segmented in terms of

Therapies

• Topical
• Surgery
• Photodynamic Therapy

Drug Classes

• Nucleoside Metabolic Inhibitors
• NSAIDs
• Immune Response Modifiers
• Photoenhancers
• Others

End-Users

• Hospitals
• Private Clinics
• Homecare
• Others

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Bausch Health Companies Inc
• LEO Pharma A/S
• Almirall SA
• Biofrontera Inc
• Nestle SA
• Sun Pharmaceutical Industries Ltd
• Novartis International AG
• 3M Pharmaceuticals Inc
• Hill Dermaceuticals Inc
• Mylan NV

Competitive Landscape

Major players competing in the global actinic keratosis treatment market are Bausch Health Companies Inc; LEO Pharma A/S; Almirall SA; Biofrontera Inc; Nestle SA; Sun Pharmaceutical Industries Ltd; Novartis International AG; 3M Pharmaceuticals Inc; Hill Dermaceuticals Inc; and Mylan NV. These market players are involved in several business strategies such as mergers, acquisitions partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. In September2019, Biofrontera Inc discovered the latest method in photodynamic therapy which showed an efficacy rating nearing 95%, the first method to cross this threshold.