Actinic Keratosis Treatment Market Size is projected to reach USD 9.22 billion by 2031, growing at a CAGR of 4.1%: Straits Research

The availability of enhanced infrastructure in the pharmaceutical industry, an increase in the number of pharmaceutical businesses, and an increase in demand for actinic keratosis treatment products are projected to be the primary growth drivers for the actinic keratosis treatment market in the next years.

New York, United States, March 14, 2024 (GLOBE NEWSWIRE) — The purpose of treating actinic keratosis, a skin condition induced by prolonged sun exposure, is to prevent these precancerous lesions from developing into skin cancer. Actinic keratosis can be treated with topical medications, cryotherapy, curettage and electrodesiccation, photodynamic therapy (PDT), and laser therapy. To target and eliminate abnormal cells, lotions or gels containing fluorouracil, imiquimod, ingenol mebutate, or diclofenac are administered directly to the affected area. “Curettage” and “electrification” refer to removing damaged skin with a curette and destroying any remaining abnormal cells by electrically searing the treated area.

A photosensitizing agent is applied to the afflicted area in photodynamic therapy. After activation by specific wavelengths of light, the agent kills abnormal cells. Only defective cells are targeted and eliminated by laser therapy. Variables include the patient’s general health, the number, distribution, and thickness of lesions, as well as the recommended treatment. A dermatologist must be consulted to ascertain the optimal course of action. Regular examinations and UV protection are crucial for preventing the recurrence of actinic keratosis and reducing the risk of skin cancer.

Download Free Sample Report PDF @ https://straitsresearch.com/report/actinic-keratosis-treatment-market/request-sample

Rise in Prevalence of Actinic Keratosis Drives the Global Market

According to Straits Research, “The global actinic keratosis treatment market was valued at USD 6.42 billion in 2022. It is estimated to reach USD 9.22 billion by 2031, growing at a CAGR of 4.1% during the forecast period (2023–2031).” It is anticipated that an increase in the prevalence of the condition that causes actinic keratosis will lead to a rise in the demand for medications that treat actinic keratosis. According to the Skin Cancer Foundation, more than 58 million Americans are affected by actinic keratosis, the most common precancerous condition. In addition, according to an article published in News Medical, the incidence of actinic keratosis in the United States is roughly 10.2% in females and 26.5% in males. This statistic referred to the gender disparity in the condition’s prevalence. This information was garnered from responses to a survey that was conducted.

As a result, it is anticipated that the prevalence of actinic keratosis disease and the utilization of topical treatment solutions for actinic keratosis will increase. As a consequence of this, the expansion of the global market will be accelerated.

Growth Opportunities in Emerging Markets Creates Tremendous Opportunities

In the coming years, the availability of improved infrastructure in the pharmaceutical industry, an increase in pharmaceutical companies, and an increase in demand for actinic keratosis treatment products are anticipated to be the key growth drivers of the actinic keratosis treatment market. It is anticipated that opportunities in emerging markets will drive this growth.

Significant growth in the healthcare industry in emerging nations is driven by a substantial increase in the demand for superior, sophisticated manufacturing systems and substantial government investments to enhance healthcare infrastructure. This expansion is occurring at a rapid rate. The rising incidence of actinic keratosis in countries such as Australia and New Zealand would permit the expansion of this market.

Regional Analysis

North America is the most significant global actinic keratosis treatment market shareholder and is estimated to exhibit a CAGR of 3.4% over the forecast period. An increased incidence of actinic keratosis in the North American market is expanding as a result of factors including rising actinic keratosis treatment drug demand, the availability of high-tech healthcare facilities with skilled medical staff, and an increase in the number of R&D projects to create actinic keratosis therapies.

For instance, the American Academy of Dermatology (AAD) reports that 60% of Americans who are 40 or older are likely to have at least one actinic keratosis lesion. Fair-skinned people frequently develop actinic keratosis, which is more common in places with much sun exposure. Due to a higher frequency of actinic keratosis, the United States held the highest share of the global market for actinic keratosis treatments. According to several studies, the most frequent outpatient dermatologic procedure in the United States is the removal of actinic keratoses.

Europe is anticipated to exhibit a CAGR of 4.2% over the forecast period. The market for treating actinic keratosis in European nations is anticipated to expand steadily throughout the forecast period. The availability of sophisticated actinic keratosis treatment products and the rising demand for actinic keratosis treatment products impact the market’s expansion in this area. Additionally, the expansion of the actinic keratosis patient population, a developed pharmaceutical industry infrastructure, and the accessibility of qualified specialists are the other major growth drivers in Europe.

Furthermore, actinic keratosis is most common in northern Europe, where 17% of people are affected completely. For instance, actinic keratosis is the reason for every third dermatologist appointment in some nations, including Germany. Actinic keratosis was the most popular dermatological condition in Germany, where the prevalence of the disorder has increased more rapidly than other dermatological conditions during the past ten years. According to a European guideline, actinic keratosis is becoming the most prevalent in situ carcinoma in humans, which affects millions of individuals globally.

Key Highlights

  • Based on drug type, the global actinic keratosis treatment market is bifurcated into fluorouracil, imiquimod, diclofenac, and others. The fluorouracil segment dominates the global market and is projected to exhibit a CAGR of 3.8% during the forecast period.
  • Based on type, the global actinic keratosis treatment market is segmented into prescription and OTC. The prescription segment dominates the global market and is predicted to exhibit a CAGR of 4.3% over the forecast period.
  • Based on the distribution channel, the global actinic keratosis treatment market is bifurcated into hospital pharmacies, drug stores and retail pharmacies, and online providers. The hospital pharmacies segment owns the highest market share and is predicted to exhibit a CAGR of 4.3% over the forecast period.
  • North America is the most significant global actinic keratosis treatment market shareholder and is estimated to exhibit a CAGR of 3.4% over the forecast period.

Competitive Players

The key players in the global actinic keratosis treatment market are 3MStanford Chemicals., Alma Lasers, Almirall, LLC, Bausch Health Companies Inc., Bio Frontera, Cipher Pharmaceuticals Inc, GlaxoSmithKline plc., LEO Pharma Inc, Nestle SA, Novartis AG, Pierre Fabre Pharmaceuticals, Inc., Sun Pharmaceutical Industries Ltd, and Valeant Pharmaceuticals.

Market News

  • In September 2022, PharmaEssentia Corporation received approval from Taiwan’s Ministry of Health and Welfare (MOHW) for KX01 as the New Drug Application for Actinic Keratosis with the license number Wei-Bu-Yao-Shu-Zi No. 028364.
  • In May 2022, Actinic Keratosis Global Day was launched by Almirall in partnership with Euro melanoma and AEDV Fundación Piel Sana and coincided with Skin Cancer Awareness Month.

Global Actinic Keratosis Treatment Market: Segmentation

By Drug Type

  • Fluorouracil
  • Imiquimod
  • Diclofenac
  • Others

By Type

  • Prescription
  • OTC

By Distribution Channel 

  • Hospital Pharmacies
  • Drug Stores and Retail Pharmacies
  • Online Providers

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Get Detailed Market Segmentation @ https://straitsresearch.com/report/actinic-keratosis-treatment-market/segmentation

About Straits Research Pvt. Ltd.

Straits Research is a market intelligence company providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision-makers. Straits Research Pvt. Ltd. provides actionable market research data, especially designed and presented for decision making and ROI.

Whether you are looking at business sectors in the next town or crosswise over continents, we understand the significance of being acquainted with the client’s purchase. We overcome our clients’ issues by recognizing and deciphering the target group and generating leads with utmost precision. We seek to collaborate with our clients to deliver a broad spectrum of results through a blend of market and business research approaches.

For more information on your target market, please contact us below:

Phone: +1 646 905 0080 (U.S.)

+91 8087085354 (India)

+44 203 695 0070 (U.K.)

Email: sales@straitsresearch.com

Follow Us: LinkedIn | Facebook | Instagram | Twitter

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy