Actinic Keratosis Treatment Market – Regional Outlook, Growth Impact and Demand Forecast to 2023

Actinic Keratosis (AK) or solar keratosis are precancerous skin lesions that occur on the epidermis due to long-term sun exposures. These lesions have a potential to develop into skin cancers. Therefore, the treatment of such medical conditions is a necessary preventive measure to avoid skin cancer. This formulates a developmental background for the global actinic keratosis treatment market. The increasing prevalence of actinic keratosis, growing acceptance of minimally invasive therapeutic procedures, the presence of suitable medical coverage, and a growing geriatric population are estimated to be the drivers for the market growth. However, the high cost and risk factors associated with available treatment options are estimated to restrain the market growth during the forecast period.
Actinic keratosis is estimated to be the most common pre-cancer for skin, and its global prevalence is increasing. According to the Massachusetts Association of Public Health Nurses in 2015, it was estimated that actinic keratosis affected more than 58 million Americans. Further, similar prevalence trends were observed in the European region. A study published in the Dermatology and Therapy Journal in 2015 stated that the prevalence of actinic keratosis was about 19 to 25 percent in the UK. The increasing prevalence of this disease is also accompanied by the growing demand for therapeutics.

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At present, a variety of treatment options are available in the market, including medications and surgical procedures such as fluorouracil cream, diclofenac gel, and cryotherapy. The market is likely to witness a huge demand for therapeutics with the growing cases of actinic keratosis. This is expected to provide a necessary force to drive the market during the forecast period.
In the recent years, the demand for minimally invasive procedures for the treatment of actinic keratosis has increased due to associated advantages of faster results and ease in the process. Moreover, increasing Medicare benefits are increasing the acceptance of procedures such as cryotherapy, laser skin resurfacing, and others. According to a study published in the F1000Research Journal in 2014, the Medicare benefits incorporated for actinic keratosis by the Medicare Benefits Schedule are estimated to grow from USD 19.6 million in 2012 to USD 24.7 million by 2020, thereby, increasing the number of cryotherapy procedures from 643,622 in 2012 to 831,952 by 2020. Moreover, as per the American Society of Plastic Surgeons in 2015, the number of chemical peel procedures increased from 1,310,252 in 2015 to 1,360,850 in 2016. Therefore, the increasing demand for these procedures is projected to cater greater revenues in the future.
The global market for actinic keratosis is estimated to reach USD 6,088.4 billion by 2024, from USD 4591.4 billion in 2017. The market is projected to register a CAGR of 4.20%, during the forecast period of 2018-2024.
Key Players
The key players for the actinic keratosis treatment market are Biofrontera AG, Cipher Pharmaceuticals Inc, BioLineRx, Valeant Pharmaceuticals, Leo Pharma, Galderma S.A, Sun Pharmaceutical Industries Ltd, 3M, Alma Lasers and Stanford Chemicals, and others.
Study Objectives
> To provide a comprehensive analysis of the actinic keratosis industry and its sub-segments in the global market, thereby providing a detailed structure of the industry
> To provide detailed insights into factors driving and restraining the growth of the global actinic keratosis treatment market
> To estimate the market size of the global actinic keratosis treatment market from 2015 to 2024. Wherein, 2015 and 2016 would be the historic period, 2017 shall be the base year, and 2018 to 2024 will be forecast period for the study
> To analyze the global actinic keratosis treatment market, on the basis of four main geographies, namely, Americas, Europe, Asia-Pacific, and the Middle East and Africa
> To compare the products with respect to various players in the market
> To provide country-wise market value analysis for various segments of the actinic keratosis treatment market
> To understand the demand-supply scenario and provide a gap analysis of the industry
> To analyze and provide upcoming technologies and trends in the actinic keratosis treatment market
> To provide strategic profiling of key companies (manufacturers and distributors) present across the globe and comprehensively analyze their competitiveness/competitive landscape in this market

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Target Audience
> Pharmaceutical and Medical Device Industries
> Potential Investors
> Medical Research Institutes
> Key Executive (CEO and COO) and Strategy Growth Manager
> Research Companies
Key Findings
> The global market for actinic keratosis treatment is expected to grow at a slow pace of 4.20% during the forecast period of 2018 to 2024
> The global market for actinic keratosis treatment is expected to reach USD 6,088.4 million by 2024
> Some of the major factors driving the global actinic keratosis treatment market are increasing the prevalence of actinic keratosis, rising demands, acceptance of minimally invasive therapeutic procedures, and suitable medical coverage for a variety of treatment options available in the market
> On the basis of type, the procedures segment is expected to command the largest market share and is expected to reach USD 4,671.6 million by 2024
> On the basis of region, Asia-Pacific is expected to be the fastest growing region at a CAGR of 4.51% during the forecast period, 2018-2024.

The report also covers the regional analysis.
Americas
> North America
o US
o Canada
> South America
Europe
> Western Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Western Europe
> Eastern Europe
Asia-Pacific
o China
o Japan
o India
o Australia
o Republic of Korea
o Rest of Asia-Pacific
The Middle East & Africa
> Middle East
> Africa

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Ronard

Ronard Completed his Master in Communication, after completing his degree he opted full-time research as his career. Ronard Main Area of Specialization is Market Research, he also contributes to Various Online Blog

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