The report studies the historical development and present status of the global actinic keratosis market in order to provide reliable forecasts regarding the probable growth trajectory of the market over the forecast period. According to the report, the global actinic keratosis market is expected to rise at a CAGR of 4% over the forecast period.
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Actinic keratosis is a skin condition caused by repeated excessive exposure to solar radiation. It results in an area of skin becoming scaly or crusty. The development of actinic keratosis is linked to exposure to ultraviolet radiation from the sun, which causes abnormal proliferation of mutated keratinocytes situated in the lower layers of the epidermis. As a result, actinic keratosis manifests as a pre-cancerous condition that can develop into malignancies if left untreated. These lesions can appear on the face, neck, and arms, with middle-aged and elderly men who have been exposed to solar radiation continuously for a number of years appearing to be at the highest risk of the disease. People working with tar and coal are also likely to get actinic keratosis. Actinic keratosis can develop into squamous cell carcinoma if left untreated.
The increasing threat of cancer and the increasing efforts to wipe out cancer by developing stronger treatments are likely to drive the global actinic keratosis market over the forecast period. Cancer has emerged as a major challenge for the healthcare sector at present, with several types of cancer proving difficult to contain and exterminate. This is likely to mobilize support for the actinic keratosis market over the coming years.
Competitive Analysis:
Leading players in the global Actinic Keratosis Market include Biofrontera AG, BioLineRx, Leo Pharma, 3M, Stanford Chemicals, Alma Lasers, Sun Pharmaceutical Industries Ltd., Valeant Pharmaceuticals, and Cipher Pharmaceuticals Inc.
Segmentation:
The global actinic keratosis market is segmented on the basis of medication, procedure, end user, and region.
By medication, the global actinic keratosis market is segmented into fluorouracil cream, imiquimod cream, ingenol mebutate gel, diclofenac gel, and others.
By procedure, the global actinic keratosis market is segmented into cryotherapy, photodynamic therapy, laser, chemical peels, and others. Cryotherapy is a commonly used treatment for actinic keratosis, while developing effective photodynamic therapy is likely to remain a key target for major players in the actinic keratosis market over the coming years.
By end user, the global actinic keratosis market is segmented into hospitals & oncology centers, dermatology clinics, and ambulatory surgical centers. Hospitals and oncology centers are likely to hold a dominant share in the global actinic keratosis market over the forecast period, with dermatology clinics emerging as another leading segment of the market.
Regional Analysis:
Regionally, the global actinic keratosis market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas is dominated by North America and is likely to be the major regional segment of the global actinic keratosis market over the forecast period. The easy availability of advanced treatment procedures, including combination therapy as well as monotherapy, in North America is likely to be the major driver for the actinic keratosis market over the forecast period. The increasing efforts being taken on cancer research in North America are also likely to propel the actinic keratosis market over the forecast period, as actinic keratosis treatments play a vital role in preventing the formation of cancerous tumors and thus help reduce the burden on the healthcare sector created by the increasing prevalence of cancer.
Asia Pacific is also likely to emerge as a major regional market for actinic keratosis treatment over the forecast period due to the growing government support for medical tourism in Southeast Asian countries. Medical tourism has emerged as a highly profitable avenue for medical industry players in Asia Pacific and is likely to grow steadily in the coming years, providing steady support to the growth of the actinic keratosis market in the region.
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Industry Updates:
In January 2019, Athenex Inc. and Chongqing Jingdong Junzhou Pharmaceuticals Co. Ltd. announced a partnership and licensing agreement for the development of KX2-391 for the treatment of actinic keratosis in China.
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