The global actinic keratosis treatment market size is expected to reach over USD 9.12 billion by 2026, according to a new study by Grand View Research Inc. It is anticipated to expand at a CAGR of 4.8% during the forecast period. The market is driven high prevalence of the disease, rapid technological advancements, and rise in consumer awareness.
Topical therapeutics generated the highest revenue among other therapeutic segments, in 2018. However, photodynamic therapy is anticipated to witness a healthy growth through the forecast period. Rising trend of photodynamic and combination therapies is expected to favorably drive the growth in near future.
North America led the actinic keratosis treatment market in 2018, driven by high prevalence of disease, presence of key manufacturers, and several awareness campigns initiated by public and provate organizations. North America is anticipated to maintain its leading position throughout the forecast period. Asia Pacific, on the other hand, is anticipated to witness the fastest growth, supported by a rising disposable income and favorable government initiatives.
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Some key marekt players include Bausch Health Companies Inc.; LEO Pharma A/S; Almirall, S.A.; Biofrontera, Inc.; Nestlé S.A.; Sun Pharmaceutical Industries Ltd.; Novartis International AG; 3M Pharmaceuticals Inc.; Hill Dermaceuticals, Inc.; and Mylan N.V. They are developing novel kits and therapies or drugs to target population in the areas with high unmet clinical needs.
Actinic Keratosis Treatment Market Report Highlights
· Topical therapeutics captured over 45% of the actinic keratosis treatment market share in 2018, driven by strong commercial sales of topical products
· Photodynamic therapy and photoenhancers are expected to witness the fastest growth over the forecast period
· Although hospitals led the end use in 2018, homecare is gaining ground swiftly
· Nearly 10% of all actinic keratosis cases advance into squamous cell cancer. The treatment of actinic keratosis as a cancer prevention strategy has fueled the treatment rates
· Strategic mergers and acquisitions among major players are one of the key growth drivers