Actinic Keratosis Treatment Market Share Forecasted to Grow USD 9.25 Billion By 2030: Polaris Market Research
The global actinic keratosis treatment market size is expected to reach USD 9.25 billion by 2030, according to a new study by Polaris Market Research.
The key factors responsible for the market growth include the emergence of new drugs for actinic keratosis treatment and initiatives by the major players for drug development. Manufacturers are substantially spending in research and development of new medications for the successful topical treatment of the illness. For instance, 39 research investigating the safety and efficacy of pharmaceuticals, treatments, procedures, and therapies in the US are now in phase 4 of FDA approval.
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Further, Aclaris Therapeutics Inc., an industry leader in treating actinic keratosis, is pursuing FDA approval for its new 101-A solution for topical therapy of the condition. In addition, for its claimed pharmacological characteristics, hyaluronic acid (HA), a significant extracellular matrix component, is used in the pharmaceutical and cosmetic industry verticals. Several HA-based transdermal delivery methods have been proven in tests to have great biocompatibility, permeability, and efficient treatment for anti-psoriasis medicines.
Increased rivalry among actinic keratosis therapy industry competitors is projected to result in a surge in new drug and product introductions in the industry, which will support the market growth of actinic keratosis. For example, the development of ablative fractional laser therapy, which can be used in conjunction with photodynamic therapy or on its own, could provide the lucrative potential for actinic keratosis players. Furthermore, limited awareness of the health problem in emerging countries and higher treatment costs are projected to slow the growth of the actinic keratosis therapy industry.
Based on the drug class, the nucleoside segment accounted for the leading share in the market in 2021. Carac, Efudex, and Fluoroplex all had outstanding commercial performances, which fueled the business’s expansion. Furthermore, growing public awareness of diagnoses and therapy options for this condition has prompted the wider use of field-directed medicines like 5-fluorouracil. The American Academy of Dermatology’s new guidelines strongly encourages 5-fluorouracil for field treatment of AK, which will boost sector expansion. The penetration of generics, on the other hand, is expected to slow growth throughout the projected period.
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Market players such as 3MStanford Chemicals., Almirall, LLC, Bausch Health Companies Inc., Alma Lasers, Biofrontera, GlaxoSmithKline plc., LEO Pharma Inc, Nestle SA, Cipher Pharmaceuticals Inc, Novartis AG, Pierre Fabre Pharmaceuticals, Inc., Sun Pharmaceutical Industries Ltd, Valeant Pharmaceuticals are some key players operating in the global market.
Several manufacturers are often backing to opt for varied marketing strategies to expand their business operations globally. Almirall, partnered with the International Federation for Psoriasis Associations (IFPA), to launch the campaign known as “Shedding Light on Psoriasis” to increase awareness in the assistance of World Psoriasis Day 2021, about the life’s struggle psoriasis people and to emphasize the importance of making sure their wellbeing. Psoriasis is one of the most common skin disorders, impacting over 60 Billion people worldwide. Almirall’s “Shedding Light on Psoriasis” campaign aims to raise awareness about a condition with significant unmet needs. Thus, the launch of a campaign for awareness by major players boost the market growth during the forecast period.
Polaris Market Research has segmented the actinic keratosis treatment market report based on therapy, topical medications, drug class, end-use, and region:
Actinic Keratosis Treatment, Therapy Outlook (Revenue – USD Billion, 2018 – 2030)
- Photodynamic Therapy
Actinic Keratosis Treatment, Topical Medications Outlook (Revenue – USD Billion, 2018 – 2030)
- Other Medications
Actinic Keratosis Treatment, Drug Class Outlook (Revenue – USD Billion, 2018 – 2030)
- Nucleoside Metabolic Inhibitor
- Immune Response Modifiers
- Photo enhancers
Actinic Keratosis Treatment, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)
- Private Clinics
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