Actinic Keratosis Treatment Market to grow at 4% CAGR between 2018 and 2024
In a consumerist world, vacation on sea coast means catching a suntan, but tan can result in skin damage due to ultraviolet (UV) rays. Skin damage due to UV rays that can cause cancer is called actinic keratosis. In the atmosphere, the Ozone layer is thinning due to air pollution, and because of that, UV rays are increasing in the sunlight coming on Earth. With the danger of actinic keratosis rising, the market for its treatment is also expected to rise.
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Market Research Future (MRFR) has published a report about global actinic keratosis treatment market. This report estimates 4% CAGR (Compound Average Growth Rate) during the forecast period between 2018 and 2024. In terms of cash, the revenue is expected to rise to US $ 6,088.4 mn in 2024. The report offers insights into the current competition in this market by observing key players. It has reviewed their company revenue, growth strategies, ongoing R&D activities, new mergers & acquisitions (M&A) activities, product launch, regional strength, segmental share, and SWOT. With actinic keratosis being more prevalent than ever, demand for its therapeutic medications has also gone up. Actinic keratosis remains an extremely common skin disorder, and its existence can be traced all over the world. However, people living in countries that have a hot climate, thinner ozone layer are more prone to this ailment. Delivery of cost-effective treatments and development of advanced therapeutics is expected to support the global actinic keratosis treatment market growth.
In this report, global actinic keratosis treatment market has been segmented on the basis of, end-user, medication, procedure, and region. End-users have been segmented into the ambulatory surgical center, dermatology clinics hospitals & oncology centers. Medication-based segmentation of this market covers diclofenac gel, fluorouracil cream, imiquimod cream, ingenol mebutate gel, and others. Procedure based segmentation includes cryotherapy, chemical peel, laser, photodynamic therapy and others.
Regional segmentation of global actinic keratosis treatment market comprises of the Americas (North America & South America), Asia Pacific, Europe and Middle East & Africa (MEA). Due to more health consciousness, advanced technology, and purchasing power, North America is a bigger market for actinic keratosis treatment than South America. Most of the key players in this market are based in the United States of America (USA) and Canada. In Europe market, due to advanced technology, higher purchasing power and more awareness regarding skin disorders, Western Europe is a bigger market than Eastern Europe. The Asia Pacific is a huge market due to more population and more people suffering from actinic keratosis who require treatment. Maximum revenue for the Asia Pacific market comes from Australia, China, and Japan. Remaining countries of Asia Pacific are also a sizable market for actinic keratosis treatment. After the Asia Pacific, the MEA region is the smallest market for actinic keratosis treatment due to lack of awareness, lack of technology and limited budget on healthcare.
Key Players
The key players in global actinic keratosis treatment market include 3M (USA), Alma Lasers (USA), Biofrontera AG (Germany), BioLineRx (Israel), Cipher Pharmaceuticals Inc. (Canada), Leo Pharma (Denmark), Pharmaceutical Industries Ltd. (India), Sun and Stanford Chemicals (USA) and Valeant Pharmaceuticals (Canada).
Latest Industry News
- Celebrating successful Initial Public Offering (IPO) this year, Germany company Biofrontera, which is a key player in global actinic keratosis treatment market, has announced its plans for US expansion. Last year, the USA accounted for about 50% of the global sales of skin cancer drug Ameluz after it debuted in the market in October 2016. So the USA is a big market for Biofrontera’s actinic keratosis treatment.
- French scientists at ‘Texinov Medical Textiles’ have developed a knitted laser fabric that blasts the skin with a light, giving treatment to inflamed skin or lesions over a 2 and a half hour appointment. With results of clinical trials being positive, the painless laser fabric has the strongest chance of entering the market as the quickest device to eradicate unwanted skin conditions, with no side effects. Initially, this device was developed to cure skin disorders such as acne, Paget’s disease, psoriasis, and other diseases like baby jaundice.
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