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Actinic Keratosis Treatment Marketglobal Trends, Market Share, Industry Size, Growth, Opportunities
Actinic Keratosis Treatment MarketGlobal Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2029
Global Actinic Keratosis Treatment Market Introduction:
Global Actinic Keratosis Treatment Market is calculated to value over USD 8.5 Billion by 2029 end and register a CAGR of over 4% from 2019 to 2029.
Actinic keratosis is caused due to overexposure to the harmful UV rays. Face and back of the palm are the primary areas where actinic keratosis is prominently observed. It can cause skin cancer if neglected for long. This is primarily observed in regions with a thin layer of ozone and these are the potential market regions for actinic keratosis treatment.
Global Actinic Keratosis Treatment Market Overview:
Based on the type of treatment provided, the market is bifurcated into topical treatment, photodynamic therapy and procedural modality. Topical treatment is further segmented in to 5-fluorouracil cream, diclofenac gel, Imiquimod cream and Ingenolmebutane gel while procedural modality is sub-segmented into chemical peels and cryotherapy.
Bassed on the end user, the market is bifurcated into hospitals, private dermatology clinics, laser therapy centres, cancer treatment centres, spas & rejuvenation centre and home care. Homecare segment has good potential for market growth as there has been an increase in consumer awareness and the availability of various self-care affordable options thus targeting the emerging economic market space. By the type of disease, the market is segmented into clinical actinic keratosis and sub-clinical actinic keratosis.
Global Actinic Keratosis Treatment Market Regional Insight:
North America dominates this market and will continue to do the same during the forecast period. North America has a thin ozone layer exposing it to the harmful ultraviolet rays and as a result of this, the majority of actinic keratosis patients are from this region.
However, the European region is also making significant progress in this market and will achieve a high value of CAGR during the forecast period. The middle east & African region account for the least market share owing to low per person income which makes the treatment inaccessible to the masses.
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Insights on Global Actinic Keratosis Treatment Market:
1. By Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Actinic keratosis is prominently observed in the North American region due to the presence of a thin ozone layer in the region and hence this region dominates the global market. Additionally, patients highly prefer minimally invasive treatments and they are capable of spending on such treatments which drives the market further. Furthermore, the majority of the vendors providing minimally invasive treatments are present in the U.S which strengthens their market position thus resulting in their domination over the market.
Asia Pacific region has huge potential for substantial market growth. Australia in particular has a prominent occurrence of actinic keratosis and it is found in around 40%-50% of the adult population. Creating awareness regarding actinic keratosis and implementation of efficient social insurance are some of the factors that will help this market space to strengthen its position.
2. By Treatment Type
• Topical Treatment
o 5-Fluorouracil Cream
o Diclofenac Gel
o Imiquimod Cream
o IngenolMebutane Gel
• Photodynamic Therapy (PDT)
• Procedural Modality
o Chemical Peels
Topical medications dominated this market in 2018 due to its profound market penetration and easy availability. Additionally, this treatment has a low risk of creating scars on a patient’s body which drives this segment further.
Photodynamic treatment is the fastest growing segment due to a reduction in the number of treatment sessions and a rising interest in non-obtrusive surgeries.
3. By End User
• Private Dermatology Clinics
• Laser Therapy Centres
• Cancer Treatment Centres
• Spas & Rejuvenation Centres
• Home Care
Hospital segment dominates this market due to the ease of accessibility and availability of actinic keratosis treatments to patients. The key driving factor for this segment to grow is the rise in healthcare services.
Homecare is expected to witness rapid market growth during the forecast period. This is due to a rise in the awareness of consumers and the plethora of self-care treatment options that are available and are affordable to everyone.
4. By Disease Type
• Clinical Actinic Keratosis
• Sub-Clinical Keratosis
• DUSA Pharmaceuticals
• Athenex Inc.
• Chongqing JingdongJunzhou Pharmaceuticals Co. Ltd
• Bausch Health Companies Inc.
• LEO Pharma A/S
• Sun Pharmaceutical Industries Ltd.
• Novartis International AG
• Hill Dermaceuticals
Athenex Inc. and Chongqing JingdongJunzhou Pharmaceuticals Co. Ltd announced a partnership in January 2019 for the development of an ointment KX2-391 for treating actinic keratosis in China. This partnership will be helpful for both the parties to strengthen their market position considering how big and important the Chinese market region is.
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● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global actinic keratosis treatment market by region, by treatment type, by end user, by disease type
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Middle East & Africa and Latin America
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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We specialise in high-growth niche markets, assuring flexibility, agility and customised solutions for our clients. Through in-depth market insights and consultancy, we present our clients with the tools they need to be at the forefront of their industry – a position secured for far more than the near future.
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