Actinic keratosis, commonly known as solar keratosis, is a pre-cancerous skin condition that develops mainly on sun-exposed areas like the face, lips, ears, back of hands, forearms, scalp or bald scalp due to prolonged unprotected sun exposure. These lesions tend to develop into skin cancer over time if not treated properly. Treatment alternatives for actinic keratosis include topical prescription medications, destructive therapies like cryotherapy or curettage, and surgery. With growing awareness regarding skin cancer risks, early detection and treatment of actinic keratosis has become increasingly important.
The Global Actinic Keratosis Market is estimated to be valued at US$ 8,070.0 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the Actinic Keratosis market are Almirall, S.A., Bausch Health Companies Inc., Perrigo Company plc., Sun Pharmaceutical Industries Ltd., Hill Dermaceuticals, Inc., Spear Pharmaceuticals, Tolmar Pharmaceuticals, Inc., Bioforntera AG, Cipher Pharmaceuticals Inc., Vidac, Athenex, Inc., 3M, and Mayne Pharma Group Limited. These players are focusing on expanding their product portfolios and geographic reach through mergers & acquisitions and partnerships.
The rising incidence of non-melanoma skin cancer cases globally due to increased sun exposure presents lucrative opportunities for market players to invest in R&D for advanced treatment alternatives. Furthermore, growing medical tourism in low-cost dermatological treatment destinations is expected to drive the adoption of actinic keratosis treatment procedures.
Key players are eyeing high growth markets like Asia Pacific and Latin America for global expansion owing to lack of awareness and treatment options in these regions currently. Partnerships with local providers and subsidized treatment programs can help penetrate untapped rural markets.
Market Drivers
Increasing skin cancer incidence: According to WHO, one in every three cancers diagnosed is a skin cancer. Early treatment of precancerous AK lesions can prevent their progression to non-melanoma skin cancer.
Growing awareness: Initiatives by dermatology societies and non-profits towards educating public about UV damage and skin self-exams have increased the diagnosis and treatment-seeking rate for AK.
Market Restrains
Lack of reimbursement in developing nations: High treatment costs of advanced procedures like photodynamic therapy act as a barrier, especially in price-sensitive markets with low or no insurance coverage.
No permanent cure: Even after treatment, new AK lesions may develop again on sun-exposed skin due to continuous UV exposure, necessitating long-term management.
Segment Analysis
The actinic keratosis market can be segmented based on treatment, indication, end user, and distribution channel. Based on treatment, the market is dominated by the cryotherapy sub segment owing to its cost effectiveness and ability to treat multiple lesions simultaneously. It is considered as the first line treatment for actinic keratosis and is widely adopted.
Global Analysis
North America dominates the global actinic keratosis market currently due to advanced healthcare facilities, rapid adoption of novel treatment options, and presence of key players in the region. However, Asia Pacific region is expected to witness highest growth during the forecast period owing to increasing healthcare expenditure, rising geriatric population, and growing awareness regarding actinic keratosis. The region also offers lucrative opportunities for market players to expand their business as majority of the market remains untapped.
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