(MENAFN- GlobeNewsWire - Nasdaq) New York, United States, Nov. 14, 2023 (GLOBE NEWSWIRE) -- The Global Actinic Keratosis Treatment Market Size is expected to reach USD 9.7 Billion by 2032, at a CAGR of 5.8% during the forecast period 2022 to 2032.
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Actinic Keratosis is a skin condition induced by excessive sun exposure. Actinic keratosis is a typical precursor of skin cancer. The majority of individuals with actinic keratosis experience recurring lesions over time. Actinic keratosis increases the risk of skin cancer because it can proceed to squamous cell carcinoma (SCC), a common and sometimes invasive skin cancer. Squamous cell carcinoma, a malignant skin tumor that develops from keratinizing cells (keratinocytes) in the epidermis or skin adnexa, is an early precursor of actinic keratosis. Treatment is frequently recommended because of the possibility that actinic keratosis will proceed to SCC. Cryotherapy, photodynamic therapy, and topical medications are routinely used to treat the condition. Increasing consumer knowledge of dermatological problems such as actinic keratosis is a key growth factor for the market. A better understanding of diagnosis and treatment strategies for this ailment has resulted in the widespread usage of actinic keratosis medications.
Covid 19 Impacts
The COVID-19 pandemic had a tremendous influence on the world economy, with all industries seeing a large drop in 2020. The healthcare industry was one of the most badly hit industries during the pandemic due to the great strain on healthcare systems to prevent the spread of illness. The increasing number of COVID-19 patients creates a delay in non-essential treatments such as actinic keratosis therapy. In addition, a number of municipal and national regulatory organizations implemented lockdowns, limiting the movement of persons and products. As a result, mandated lockdowns disrupted the supply chain, affecting the availability of actinic keratosis treatment drugs and equipment. As a result, severe delays in procuring topical medicines and actinic keratosis therapy hampered market expansion.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the " Global Actinic Keratosis Treatment Market Size , Share, and COVID-19 Impact Analysis, By Therapy (Topical, Surgery, Photodynamic Therapy), By Drug Class (Nucleoside Metabolic Inhibitor, NSAIDs, Immune Response Modifiers, Photoenhancers & Others), By End User (Hospitals, Private Clinics, Homecare & Others) By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032".
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The surgery segment is dominating the market with the largest market share over the forecast period.
The global actinic keratosis treatment market is divided into three segments such as topical, surgical, and photodynamic therapy. Among these sectors, surgery has the highest revenue share throughout the projection period, owing to the increased use of cryotherapy for the treatment of actinic keratosis. However, the topical therapy category is expected to grow gradually as a result of expanding self-use therapy usage, more home-based treatments, and various strategic initiatives done by market competitors.
The nucleoside segment is influencing the largest market share during the forecast period.
The worldwide actinic keratosis treatment market is divided into many groups based on pharmacological class, including nucleoside metabolic inhibitors, NSAIDs, immune response modifiers, photo enhancers, and others. The nucleoside category dominates the market. The tremendous commercial achievement of Efudex, Carac, and Fluroplex is linked to the introduction of nucleoside metabolic inhibitors. Furthermore, rising awareness of actinic keratosis therapy and diagnosis has fueled the segment's growth. Several strategic initiatives performed by market participants are also assisting in the growth of the nucleoside metabolic inhibitors category.
The hospital segment is leading the largest market share over the forecast period.
The worldwide actinic keratosis therapy market is segmented by end-user into hospitals, private clinics, home care, and others. Hospitals are the market leaders in these categories. This is due to factors such as treatment rate accessibility, healthcare facility availability, and the growing number of photodynamic therapy treatments performed in hospitals. Several prescription drugs are used in photodynamic therapy. LEVULAN and KERASTICK are prescription drugs produced by DUSA Pharmaceuticals, Inc. that are used on the skin with blue light therapy (PDT) to treat mild to moderately thick actinic keratosis of the head, upper arms, and face.
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North America dominated the market with the largest market revenue during the forecast period
North America is expected to lead substantial market expansion throughout the projection period owing to positive government policies, greater consumer awareness, advances in healthcare infrastructure, and ongoing technological discoveries attributed to the increased occurrence of actinic keratosis. The existence of prominent market players in North America is another essential element driving industry progress.
Asia Pacific is expected to grow fast throughout the forecast period due to Increased treatment adoption, expanding consumer disposable income, and high sickness incidence in some countries, such as Australia and New Zealand, which are among the primary forces driving the market throughout the forecast period.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Actinic Keratosis Treatment Market include Almirall S.A., LEO Pharma A/S, Sun Pharmaceutical Industries Ltd., Novartis AG, GALDERMA, Ortho Dermatologics (Bausch Health Companies Inc.), BIOFRONTERA AG, Hill Dermaceuticals, Inc., and Others.
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Recent Development
In December 2022, AMELUZ was commercially released in Finland by Biofrontera AG. This product launch conforms to European clearance for the treatment of actinic keratoses and basal cell carcinoma using the BF-RhodoLED lamp as part of traditional photodynamic therapy or as daylight therapy. This strategy assisted the corporation in improving its product offerings as well as strengthening its geographical footprint in Europe.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Actinic Keratosis Treatment Market based on the below-mentioned segments:
Global Actinic Keratosis Treatment Market, By Therapy
Topical Surgery Photodynamic Therapy
Global Actinic Keratosis Treatment Market, By Drug Class
Nucleoside Metabolic Inhibitor NSAIDs Immune Response Modifiers Photoenhancers Others
Global Actinic Keratosis Treatment Market, By End Users
Hospitals Private Clinics Homecare Others
Actinic Keratosis Treatment Market, By Regional Analysis
Europe Germany UK France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of the Middle East & Africa
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