Actinic Keratosis Treatment Market Size, Share, Industry, Forecast and outlook (2024-2031)

Actinic Keratosis Treatment Market is segmented By Type (Medications, Procedures), By End-User (Hospitals, Dermatology clinics, Cancer centers, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Actinic Keratosis Treatment Market Overview

Actinic Keratosis Treatment Market is expected to grow at a CAGR of 6.3% during the forecast period 2024-2031.

Actinic keratosis (AK) is characterized by skin papules, macules, and plaques coming out in response to prolonged UV exposure and can lead to squamous cell carcinoma. The chance of occurrence increases with propelling age and is especially higher in men as against ladies. Around 5-20% of patients with actinic keratosis injuries create dangerous and also deadly squamous cell carcinomas.

Actinic Keratosis Treatment Market Insights

For more insights - Request Free Sample

Actinic Keratosis Treatment Market Dynamics

The major driving forces are the high prevalence of actinic keratosis and the subsequent risk of developing malignancies, environmental factors, such as ozone depletion and excessive sun exposure, a promising pipeline, awareness programs, growing demands for minimally invasive procedures, the presence of suitable medical coverage, and the growing geriatric population.

The increasing prevalence of actinic keratosis is expected to boost the market. For instance, according to the Skin Cancer Foundation, 1 in 5 Americans will develop skin cancer by the age of 70. Also, more than two people die of skin cancer in the US every hour. Hence, with the rising prevalence of such skin disorders, the demand for the treatment drugs is increasing, thus driving the growth of the actinic keratosis treatment market globally.

The presence of awareness programs regarding cancer is expected to boost the market. For instance, the Skin Cancer Foundation has launched an awareness program called "Rays Awareness - Preventing Skin Cancer," which explained the effect of UV radiation on sun and tanning beds, and their impact on the skin. This seminar also highlighted the comparison of options for actinic keratosis treatment. Also, the British Association of Dermatologists circulated a leaflet that explains the causes of actinic keratosis and their side effects. The leaflet also had information regarding the options present for the actinic keratosis treatment. Such awareness programs have increased the awareness level among the people about the actinic keratosis treatment in developed economies, which is expected to increase the adoption of actinic keratosis treatment.

The presence of a promising actinic keratosis pipeline by the key players is expected to boost the market over the forecast period. For instance,

Thus, the promising actinic keratosis pipeline is driving the market.

The presence of research activities are expected to boost the market. For instance, according to the report from Massachusetts General Hospital (MGH), published in the January 2017 issue of the Journal of Clinical Investigation, stated that combination of two FDA approved drugs, topical chemotherapy, and an immune-system-activating compound was able to rapidly clear actinic keratosis lesions from patients participating in a clinical trial. Also, "The high tumor clearance rate, short treatment duration, and the favorable side-effect profile highlighted the remarkable effectiveness of this approach, compared with the currently available treatments." Thus, the increasing number of research activities are driving the market.

However, the shortage of skilled healthcare professionals, the high procedural cost and risk factors associated with available treatment options, and the alternative treatment options are expected to hamper the market growth.

The actinic keratosis treatment by photodynamic therapy, cryotherapy or chemical peel requires skilled plastic surgeons. According to the WHO, a shortage of 12.9 million healthcare workers by 2035 is expected, across the globe. The demand for plastic surgeries has increased throughout the world since the last decade, but the number of plastic surgeons has declined. Thus, the shortage of plastic surgeons is likely to restrain the market.

Actinic Keratosis Treatment Market Segmentation

Based on the type, the global actinic keratosis treatment market is segmented into medications and procedures.

The medications segment is further segmented into fluorouracil cream, imiquimod cream, ingenol mebutate gel, and diclofenac gel.

The fluorouracil cream segment is expected to boost the market over the forecast period. This is owing to the presence of recent studies stating the effectiveness of fluorouracil cream in the treatment of actinic keratosis. For instance, according to a study published by the researchers of Maastricht University Medical Center, in the March 7, 2018, issue of the New England Journal of Medicine, reported that in the patients with multiple actinic keratosis lesions on the head, 5 % fluorouracil cream was the most effective treatment. Also, according to an article published in January 2018, results from a clinical trial including more than 900 military veterans at high risk for the keratinocyte carcinoma skin cancer provided evidence that using the generic skin cream fluorouracil 5 % for 2 to 4 weeks may decrease the risk of a squamous cell carcinoma, needing surgery by 75 % within a year. Thus, the increasing number of research activities proving the effectiveness of fluorouracil cream are driving the market.

The ingenol mebutate gel segment is expected to grow at a significant rate over the forecast period. For instance, new research done by the German Institute for Quality and Efficiency in Health Care (IQWiG), in December 2018, showed the added benefit of ingenol mebutate for patients with actinic keratosis. The complete clearance of visible skin lesions was observed in a randomized controlled trial when compared with ACT diclofenac/hyaluronic acid. Thus, the presence of clinical trials testing the efficacy of ingenol mebutate gel are driving the market.

The procedures segment is further segmented into cryotherapy, photodynamic therapy, laser, chemical peel, and others.

Photodynamic therapy is expected to boost the market over the forecast period. Photodynamic therapy has substituted chemotherapy and radiation therapy. Also, photodynamic therapy has proven to be advantageous over chemotherapy as it can be repeated several times in one particular area. Furthermore, the introduction of technologically upgraded photodynamic therapy over conventional photodynamic therapy is expected to boost the market. Photodynamic therapy being cheaper and minimally painful is advantageous for cancer patients as it enables them to avoid chemotherapy or surgery. Thus, the added advantages of photodynamic therapy over other conventional therapies is driving the market.

The laser segment is expected to boost the market, owing to the new product launches. For instance, in February 2018, the French scientists at ‘Texinov Medical Textiles,' have launched a knitted laser fabric that blasts the skin with the light, giving treatment to inflamed skin or lesions over a two and a half-hour appointment. Chronic skin conditions like acne, actinic keratosis, and psoriasis can be treated in a single 150-minute appointment. Thus, the presence of new product launches is driving the market.

Actinic Keratosis Treatment Market Geographical Share

Geographically, the global actinic keratosis treatment market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America is dominating the global actinic keratosis treatment market in 2018 and is estimated to hold significant market size over the forecast period (2019-2026) owing to the presence of major manufacturers, increasing prevalence of actinic keratosis, and growing demands for minimally invasive procedures within the region.

The increasing adoption of chemical peel procedures is expected to boost the market. For instance, as per the American Society of Plastic Surgeons, the number of chemical peel procedures was estimated to be 1,360,850 in 2016. Thus, the increasing demand for these procedures is projected to cater to higher revenues in the future.

The presence of favorable reimbursement policies is expected to boost the market. For instance, the US government offers insurance to cover the costs incurred during the actinic keratosis treatment under Medicare and Medicaid. Medicare provides different CPT codes for actinic keratosis treatment by various methods such as photodynamic therapy and cryotherapy. Apart from government insurance programs in the US, private insurance companies offer plans to reimburse the costs of treatment for the condition. Favorable reimbursements scenarios by Medicare and Medicaid are the factors expected to boost the demand for cryotherapy and photodynamic therapy for actinic keratosis treatment in the US.

Actinic Keratosis Treatment Companies and Competitive Landscape

The major players operating in the global actinic keratosis treatment market are Biofrontera AG, Cipher Pharmaceuticals Inc, BioLineRx, Bausch Health Companies Inc., LEO Pharma, Galderma SA, Sun Pharmaceutical Industries Ltd., 3M, Alma Lasers, and Stanford Chemicals.

The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the actinic keratosis treatment market globally. For instance,

July 10, 2018, Vidac Pharma announced the initiation of phase 2b clinical trial of VDA-1102 ointment in patients with actinic keratosis.

In April 2018, Cipher Pharmaceuticals acquired the Canadian rights for the US FDA approved a 101 40% topical solution.

In May 2016, Biofrontera Pharma received the US FDA approval for Ameluz (aminolevulinic acid hydrochloride) used in patients with actinic keratosis.