Actinic Keratosis Treatment Market is likely to register CAGR of 7% through 2028
According to a recent market analysis conducted by Future Market Insights (FMI), the global Actinic Keratosis Treatment Market was valued at US$ 5.0 billion in 2021 and is anticipated to reach US$ 8.0 billion by 2028.
The key reasons driving the development of the actinic keratosis treatment market are the increasing prevalence of actinic keratosis, the increased need for actinic keratosis treatment products, potential medications in the pipeline, and the favoured usage of topical treatments. Furthermore, the rising incidence of skin cancer, combined with the growing desire for minimally invasive operations, is fuelling the expansion of the actinic keratosis treatment market.
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Who Is Winning?
The actinic keratosis treatment market report tracks the key market players, which includes GlaxoSmithKline Plc. Nestle SA, Novartis AG, Sun Pharmaceutical Ltd., Leo Pharma Inc. etc. Leading manufacturers in the actinic keratosis treatment market are focusing on acquisitions to enhance their product portfolio. For instance, in November 2015, Leo Pharma A/S completed the acquisition of dermatology business of Astellas Pharma. With this acquisition, the company expanded its dermatology product portfolio segment. Companies are also focusing on segment leadership. In February 2016, Cipher Pharmaceuticals Inc. launched Actikerall for the topical treatment of slightly palpable and/or moderately thick hyperkeratotic actinic keratosis to mark their leadership in topical product segment.
Combination therapies such as topical fluorouracil cryotherapy, PDT and imiquimod therapy, chemical peels, and 5-FU are generally the most prescribed therapies for actinic keratosis. Convenient administration, lower potential for irritation, and systemic absorption continue to underpin their high adoption rate. Development of drugs with increased efficacy and decreased side effects that can be used as combination therapy for actinic keratosis treatment is currently the focal point of global market leaders. Biofrontera AG commercially launched its product Ameluz (2016), used in combination with PDT for actinic keratosis treatment.
Development of minimally invasive drug-device combination therapies and fast track regulatory approval for pipeline drugs will be offering a completely new set of treatment options for actinic keratosis in the near future.
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Key Takeaways – Actinic Keratosis Treatment Market Study
- Growing use of topical products as the first-line preference for actinic keratosis treatment is offering huge opportunities to market players to develop and launch new topical products for actinic keratosis treatment.
- Increasing collaboration activities by key market players of the actinic keratosis treatment market with other companies to broaden their products portfolio is anticipated to propel the actinic keratosis treatment market growth.
- For instance, in March 2017, Galderma SA (Nestle Skin Health Company) collaborated with Colorescience, to enhance its product portfolio for aesthetic treatment.
- Increasing product approvals of actinic keratosis treatment by regulatory bodies is expected to fuel the actinic keratosis treatment market growth.
- For instance, in March 2018, combination of Ameluz and daylight photodynamic therapy (PDT) by Biofrontera AG got approval from the European Union.
- The U.S. and Australia marking rise in incidence and prevalence of actinic keratosis will remain highly prominent markets for actinic keratosis treatment providers.
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on actinic keratosis treatment market in its latest study, presenting historical demand assessment from 2017 to 2021 and projections from 2022 to 2028 on the basis of treatment category (topical treatment, procedural modality, photodynamic therapy and others), disease type (clinical AK and subclinical AK)and end-user (hospitals, laser therapy centers, private dermatology clinics, spas and rejuvenation centers, cancer treatment centers, homecare) in seven key regions.
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Actinic Keratosis Treatment Market By Category
By Treatment Type:
- Topical Treatment
- 5-fluorouracil Cream
- Diclofenac Gel
- Imiquimod Cream
- Ingenol mebutate Gel
- Procedural Modality
- Chemical Peels
- Photodynamic Therapy
By Disease Type:
- Clinical AK
- Subclinical AK
By End User:
- Private Dermatology Clinics
- Laser Therapy Centers
- Cancer Treatment Centers
- Spas and Rejuvenation Centers
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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