According to the latest report by IMARC Group, titled “Actinic Keratosis Treatment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global actinic keratosis treatment market size reached US$ 5.8 Billion in 2021. Actinic keratosis refers to a skin condition caused by extended exposure to ultraviolet (UV) radiation from the sun. The instance is exaggerated by a poor immune system, old age, predisposing disease, and side effects of certain drugs. Actinic keratosis leads to rough and scaly patches, redness, raised bumps, bleeding, and tenderness on the face, nose, ears, cheeks, lips, forehead, and scalp. Its treatment includes surgical procedures, topical medications, cryotherapy, curettage, photodynamic therapy (PDT), chemical peel, and laser resurfacing. Actinic keratosis treatment promotes skin cells’ growth, minimizes damage to healthy tissue, reduces scarring, and eases various symptoms, such as itching, pain, bleeding, and tenderness.
Actinic Keratosis Treatment Market Trends:
The rising prevalence of actinic keratosis due to global warming, depletion of the ozone layer, and excessive sun exposure are among the key factors driving the market growth. Various treatment options are adopted depending on the severity of the condition to remove and prevent its re-occurrence, treat symptoms, and promote healthy skin growth. Additionally, increasing demand for minimally invasive (MI) treatments that are cost-effective and offer faster recovery is acting as another growth-inducing factor. Furthermore, the widespread treatment adoption due to the rising concerns regarding the cancerous nature of actinic keratosis that may develop into squamous cell carcinoma, basal cell carcinoma, melanoma, and Merkel cell carcinoma, if left untreated, is providing an impetus to the market growth. Apart from this, the integration of a convolutional neural network (CNN) to develop an intelligent diagnostic system capable of differentiating actinic keratosis symptoms from other skin conditions to enhance the accuracy of clinical diagnosis, aid in early detection, facilitate self-monitoring, and assist in accurate treatment is positively influencing the market growth. Moreover, the extensive research and development (R&D) activities to develop novel therapies with improved efficacy and the introduction of cream and gel to treat actinic keratosis are propelling the market growth. Other factors, including rising consumer awareness regarding early and effective treatments for actinic keratosis, implementation of various government initiatives to develop more affordable healthcare facilities, and widespread availability of generic drugs, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 7.9 Billion by 2027, exhibiting a CAGR of 5.27% during 2022-2027.
- On the basis of the type, the market has been bifurcated into prescription and OTC
- Based on the drug type, the market has been divided into fluorouracil, imiquimod, diclofenac, and others.
- On the basis of the distribution channel, the market has been classified into hospital pharmacies, drug stores and retail pharmacies, and online stores.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and Others), Latin America (Brazil, Mexico, and Others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being 3M Company, Almirall SA, Bausch Health Companies Inc., Biofrontera Inc., BioLineRx Ltd., Cipher Pharmaceuticals Inc, Galderma SA, Hill Dermaceuticals Inc., LEO Pharma A/S and Sun Pharmaceutical Industries Ltd.
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