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Actinic Keratosis Treatment Market 2
According to the report, the global actinic keratosis treatment industry is estimated to reach $1.56 billion by 2026, growing at a CAGR of 4.2% from 2019–2026.
The global actinic keratosis treatment market size was valued at $1,117 million in 2018, and is projected to reach $1,558 million by 2026, growing at a CAGR of 4.2% from 2019 to 2026.” - Allied Market Research
PORTLAND, OREGON, UNITED STATES, February 27, 2024 /EINPresswire / -- Allied Market Research published a report, titled, "Actinic Keratosis Treatment Market by Drug Type (Fluorouracil, Imiquimod, Diclofenac, and Others), Type (Prescription and OTC), and Distribution Channel (Hospital Pharmacies, Drug Stores & Retail Pharmacies, and Online Providers): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global actinic keratosis treatment industry garnered $1.12 billion in 2018, and is estimated to reach $1.56 billion by 2026, growing at a CAGR of 4.2% from 2019–2026.
The global market for actinic keratosis treatment is experiencing growth due to an uptick in its incidence, promising drugs in development, and increased government spending on healthcare. However, the presence of alternative treatment options poses a challenge to this growth. Nonetheless, emerging markets show potential for creating lucrative opportunities in the foreseeable future.
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The fluorouracil segment to lead the trail by 2026
In 2018, the fluorouracil segment accounted for approximately 40% of the global market share for actinic keratosis treatment, a figure expected to maintain its dominance through 2026. Factors such as increased fluorouracil consumption, its widespread availability, preference as a primary treatment option, and cost-effectiveness are driving this segment's growth. Concurrently, the imiquimod segment is poised to exhibit the highest compound annual growth rate (CAGR) of 5.2% during the period from 2019 to 2026, fueled by growing patient awareness of actinic keratosis treatment and the availability of imiquimod formulations.
The prescription segment held the largest share in 2018-
In 2018, the prescription segment dominated the global actinic keratosis treatment market, capturing over 80% of the market share. This segment is projected to maintain its leading position with the fastest compound annual growth rate (CAGR) of 4.3% during the forecast period. This growth is attributed to the widespread preference for prescription medications like fluorouracil, ingenol mebutate, and imiquimod in the treatment of actinic keratosis.
North America to rule the roost in terms of revenue-
In 2018, North America accounted for nearly half of the total revenue generated in the global actinic keratosis treatment market and is expected to maintain this significant share until 2026. The market growth in this region is propelled by the development of therapeutics for actinic keratosis treatment, increased adoption of related drugs, and heightened healthcare awareness. Conversely, the Asia-Pacific region is anticipated to witness the fastest compound annual growth rate (CAGR) of 6.3% during the forecast period. This growth is attributed to the rising disposable income, growing awareness about actinic keratosis treatment products, and an increase in the prevalence of the disease, particularly in regions such as Australia and New Zealand.
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Leading market players-
Almirall, S.A.
Bausch Health Companies Inc.
Hill Dermaceuticals, Inc.
LEO Pharma A/S
Mylan N.V.
Sun Pharmaceutical Industries Ltd. (DUSA Pharmaceuticals, Inc.)
Biofrontera, Inc.
Novartis AG
Stanford Chemicals
3M Company
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David Correa
Allied Market Research
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