Increasing awareness about the adverse impacts of actinic keratosis and its association with the development of non-melanoma cancer coupled with the growing prevalence of the condition around the world is estimated to fuel the market growth which is expected to witness robust growth during the 2018-2028 period, according to a recent study by Persistence Market Research.
Actinic keratosis is estimated to affect 10% of the female population in the US while over 26% of the total male population in the country develops the condition. In Britain, actinic keratosis affects an estimated 15% of the male population and can 6% of the female population.
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Company Profile:
- Sun Pharmaceutical Industries Ltd.
- Biofrontera
- Nestle SA
- Bausch Health Companies Inc.
- Novartis AG
- GlaxoSmithKline plc.
- Almirall, LLC
- LEO Pharma Inc.
- Cipher Pharmaceuticals Inc
- Pierre Fabre Pharmaceuticals, Inc.
- BioLineRX
- Alma Lasers
- Valeant Pharmaceuticals
- 3MStanford Chemicals.
The burgeoning prevalence of actinic keratosis in the global population is expected to fuel demand for effective treatment options.
The abundance of clinical data for actinic keratosis treatment is estimated to aid in the development of novel medications and therapies. The vast amount of clinical data available is being leveraged to understand and develop new and innovative options for effective treatment of actinic keratosis in different patients.
Availability of data is also enabling dermatologists and surgeons to develop customized combination therapies for patients. These factors are estimated to provide a conducive platform for the development of novel treatment options and are expected to contribute significantly to the actinic keratosis market revenue.
Low cost of topical medication and higher success rates for treatment of mild to moderate cases of actinic keratosis is causing a widespread adoption of the method as the first line of treatment. Additionally, the convenience of self-prescribing gels and creams used in the topical treatment and their availability at retail and pharmaceutical stores are vital factors which are causing a surge in the demand for topical medications among patients.
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Due to these factors, topical treatment is expected to hold the bulk of the actinic keratosis market share at the end of the forecast period.
Combination Therapy to Gain Traction in Actinic Keratosis Treatment Market
Dermatologists are increasingly prescribing using a combination of treatment methods for effectively treating actinic keratosis in patients. For instance, the combination of cryotherapy and fluorouracil cream exhibit a success rate of approximately 90% for the treatment of multiple actinic keratosis lesions. Additionally, the combination of the two treatment offers a variety of benefits such as convenience of application and administration, lower irritability, and enhanced absorption of fluorouracil cream.
Clinical trials have suggested enhanced outcome while using the combined therapy compared to the use of cryotherapy and fluorouracil cream individually. Another study researching the potential prospects of combining 5-fluorouracil and photodynamic therapy concluded the combination significantly reduces actinic keratosis relative to the two treatment options used individually. Development of similar combination therapies is expected to cause a surge in the demand for different actinic keratosis treatment options.
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North America to Remain at the Forefront of Market Growth
The USA is estimated to hold a significant share of the actinic keratosis market in North America and an increasing prevalence of actinic keratosis in the region coupled with insurance coverage provided for the condition is expected to make an array of treatment options available for the patients suffering from the condition in the country.
Numerous studies consider actinic keratosis as a pre-cancer stage that can consequently lead to the development of skin cancer. Thus, the US government offers insurances to cover costs incurred during the actinic keratosis treatment under Medicare and Medicaid. Apart from government insurance programs in the US, private insurance companies offer plans to reimburse the costs of treatment for the condition.
The factor is estimated to be imperative to the growth of the actinic keratosis market in the region with the availability of insurance policies allowing consumers to opt for actinic keratosis treatment in the region. Owing to this factor, North America is expected to continue to hold the bulk of the actinic keratosis treatment market share.
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