Actinic Keratosis Treatment Market – Overview
The global actinic keratosis treatment market is expected to grow at a favorable rate from 2021 to 2031 (forecast period). The global actinic keratosis treatment market is projected to benefit from the rising incidence of actinic keratosis, strong demand for minimally invasive procedures, and the growing research and development for the development of new therapies.
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As per a research article released in the British Journal of Dermatology 2019 by J. Welzel et al., over half of the light-skinned population is afflicted with actinic keratosis at some point in their lives. Moreover, actinic keratosis is the third most prevalent cause for individuals in the United States to visit a dermatologist. As a result, non-profit organizations and government entities around the world are conducting public awareness campaigns, which is expected to boost the global actinic keratosis treatment market.
Actinic Keratosis Treatment Market – Competitive Landscape
Some of the prominent players operating in the actinic keratosis treatment market are LEO Pharma A/S, Bausch Health Companies Inc, Galderma SA, Biofrontera AG, Almirall, S.A., Alma Lasers, Sun Pharmaceutical Industries Limited, 3M Company, Novartis AG and Hill Dermaceuticals, Inc.
Product launches, joint ventures, mergers and acquisitions, and regional expansions are some of the key strategies used by participants in the global actinic keratosis treatment market. Globally, key players are increasing their investments in the development of novel medications for the treatment of actinic keratosis.
Almirall introduced Klisyri, a topical treatment for actinic keratosis, in February 2021. It is a unique topical microtubule blocker that is intended for actinic keratosis treatment on the face and scalp. It is best suited for individuals who choose a treatment option with a short duration and a track record of safety.
Actinic Keratosis Treatment Market – Trends and Opportunities
A higher incidence of actinic keratosis as a result of ozone layer depletion and prolonged sun exposure is a major aspect projected to boost the global actinic keratosis treatment market during the forecast period. Moreover, rising cancer occurrences and a high preference for minimally invasive (MI) procedures are expected to bolster market growth. Furthermore, major companies are launching medications in the form of gel and cream to treat actinic keratosis, which is anticipated to provide growth prospects to the global actinic keratosis treatment market.
Various public and private organizations are working to raise awareness about available therapies for actinic keratosis around the world. This, together with substantial investments in research and development initiatives to create novel medicines with greater efficacy, convenient dosing, and lower prices, is expected to propel the global actinic keratosis treatment market.
Moreover, the advent of topical treatments that lower the likelihood of scarring is also projected to boost the global actinic keratosis treatment market growth. This treatment is used to treat many different types of visible and invisible skin lesions.
The COVID-19 pandemic had a detrimental impact on the global actinic keratosis treatment market. Due to complete lockdown in most countries and limits on non-essential doctor visits, diagnosis and treatment rates were much lower in 2020. For example, in the United States, around 12.7 million actinic keratosis treatments were performed in 2020, compared to over 15.1 million actinic keratosis treatments performed in 2019. Moreover, the American Academy of Dermatology was in constant contact with dermatologists in order to limit the visit of patients with non-urgent medical concerns such as actinic keratosis. However, with the relaxations of COVID-19 restrictions around the world, the global actinic keratosis treatment market is projected to witness growth.
Actinic Keratosis Treatment Market – Regional Landscape
The North America actinic keratosis treatment market is projected to expand due to the increased disease incidence, growing consumer awareness, strong government initiatives, technological breakthroughs, and advancements in healthcare infrastructure.
The actinic keratosis treatment market in Asia Pacific is expected to grow due to the rise in disease treatment rates, growing consumer disposable income, and increasing disease incidence in specific countries, such as New Zealand and Australia. Moreover, pharmaceutical businesses are growing their market share using a variety of tactics. For example, Biofrontera inked an exclusive deal with Maruho Co., Ltd. in Japan in April 2020 to manufacture and market Ameluz in the Asia Pacific region.
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