The Global Actinic Keratosis Treatment Industry, as per the latest report by Future Market Insights (FMI), achieved a remarkable valuation of approximately US$ 5.4 billion in 2022, and the momentum is projected to continue soaring, aiming for a substantial US$ 8.0 billion by 2028. FMI forecasts a robust Compound Annual Growth Rate (CAGR) of 7.0% through 2028.
The exponential growth witnessed in the actinic keratosis treatment market can be attributed to several pivotal factors, with increased incidence of actinic keratosis topping the list. Alongside this, growing consumer demand for innovative actinic keratosis treatment products, a promising pipeline of potential drugs, and a notable preference for topical treatments have collectively fueled this expansion.
Furthermore, the market’s upward trajectory can be significantly attributed to the rising prevalence of skin cancer, which continues to be a global health concern, necessitating advanced treatment options. Simultaneously, the surge in demand for minimally invasive procedures represents another driving force behind the market’s impressive progress.
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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 Industry 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 industry 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 industry in its latest study, presenting historical demand assessment from 2014 to 2018 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 Industry By Category
By Treatment Type:
- Topical Treatment
- 5-fluorouracil Cream
- Diclofenac Gel
- Imiquimod Cream
- Ingenol mebutate Gel
- Procedural Modality
- Chemical Peels
- Cryotherapy
- Photodynamic Therapy
- Others
By Disease Type:
- Clinical AK
- Subclinical AK
By End User:
- Hospitals
- Private Dermatology Clinics
- Laser Therapy Centers
- Cancer Treatment Centers
- Spas and Rejuvenation Centers
- Homecare
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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