Actinic Keratosis Treatment Market To Hit Value .93 Billion By 2030 |Grand View Research, Inc.

Posted by Mrudula Anil Karmarkar on March 20th, 2023

The global actinic keratosis treatment market size is anticipated to reach USD 8.93 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.1% from 2022 to 2030. The market is expected to witness growth opportunities owing to factors such as the wide availability of actinic keratosis therapeutics, rising awareness about the disease, and the rise in AK treatment. Moreover, the increasing prevalence of actinic keratosis and the rising geriatric population across the globe are expected to fuel the market growth during the forecast period.

Invasive squamous cell carcinoma may develop from AK when it becomes malignant (iSCC). Despite the fact that there are a number of potential causes for iSCC, AK is one of the most frequent ones. Additionally, basal cell carcinoma and non-melanoma skin cancer could result from AK. As a result, the demand for AK products across sales channels is being driven by the early diagnosis and treatment of actinic keratosis as a preventive strategy for comorbidities.

In addition, future pipeline medications and the increased use of combination therapy are key market drivers. For instance, Almirall, S.A. has Klisyri (extended label) in phase III of R&D. Furthermore, a rise in the acceptance and commercialization of innovative drugs is another factor that is predicted to fuel market growth. Moreover, increased R&D activities are expected to accelerate the approval of novel drugs used in the treatment of actinic keratosis, hence, propelling the growth over the forecast period.

Key players are adopting strategic initiatives such as product launches, partnerships, and expansion strategies to increase their market share across the globe. For instance, in June 2022, BIOFRONTERA AG announced that its license and marketing authorization holder Louis Widmer SA based in Switzerland has received an extension of its marketing authorization for the management of actinic keratosis in the trunk, extremities, and neck with Ameluz. Moreover, in July 2020, BIOFRONTERA AG announced that it has signed an agreement with Galenica AB for the marketing of BF-RhodoLED and Ameluz in  Norway, Finland,  Norway, and Iceland.

The market is anticipated to witness growth opportunities owing to factors such as rising prevalence of actinic keratosis and wide presence and easy availability of generic drugs for the treatment of actinic keratosis. Moreover, the market is driven by increasing awareness about actinic keratosis and various strategic initiatives undertaken by industry players. Increasing consumer awareness regarding dermatological diseases, such as actinic keratosis, is a major growth booster for the market. Heightened knowledge about diagnostics and treatment strategies for this disease has driven the widespread adoption of actinic keratosis medications. Field-directed treatments such as 5-fluorouracil, diclofenac, Ingenol mebutate, and Imiquimod are poised to witness greater market penetration over the next few years. Although the products share similar efficacies, the cosmetic outcomes and adverse effects might differ. Photodynamic therapy was observed to be better than cryotherapy in terms of cosmetic outcomes. The easy accessibility and availability of treatments for actinic keratosis is expected to be a significant growth factor for this market.

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The prevalence of actinic keratosis is one of the major market drivers. According to News-Medical.net in 2022, the prevalence of actinic keratosis is 37-55% in Australian adults aged over 40. This is linked to high UV exposure to the Australian population with relatively fair skin. Moreover, outdoor sports are very popular in Australia and as a result, they tend to spend their maximum time in the sun. Furthermore, according to News-Medical.net in 2022, it is being found that men are more prone to actinic keratosis than women but it is also linked with other risk factors such as time spent outside in the sun and overall exposure to sun. Furthermore, the overall prevalence of actinic keratosis in the U.S. and the U.K. is estimated to be 26.5% in males and 10.2% in females and 6 15% in males and 6% in females, respectively. 

Actinic Keratosis Treatment Market Report Highlights

• In 2021, the surgery segment dominated the market owing to the rising adoption of cryotherapy surgery in the management of actinic keratosis
• The nucleoside metabolic inhibitor segment held the largest share in 2021 and is expected to retain its dominance over the forecast period
• Asia Pacific is expected to register the highest CAGR over the forecast period due to factors such as the high prevalence of AK, rapidly evolving healthcare infrastructure, and rising healthcare expenditures by Asia Pacific countries
• North America dominated in 2021 due to the rising awareness among people about actinic keratosis, availability of robust treatment options, and improvements in healthcare infrastructure

Increasing geriatric population across the globe is anticipated to fuel the market growth during the forecast period. For instance, according to AMERICA’s HEALTH RANKINGS senior report 2021, it was estimated that more than 54 million adults aged more than 65 live in the U.S. and that population accounted for 16.5% of the total population. Moreover, according to Statista Canada, there were 6,835,866 people aged over 65 in July 2021, accounting for 18% of the total population. Actinic keratosis is expected to have a chance of developing squamous cell carcinoma, a type of skin cancer. According to the Skin Cancer Foundation, anywhere between 40-60% of squamous cell carcinoma might initiate with the untreated precancerous lesion of actinic keratosis. In January 2022, according to the Skin Cancer Foundation, it is estimated that almost 2-10% of actinic keratosis cases result in the development of squamous cell carcinoma within the span of two years. This is likely to result in an increase in the adoption of the available treatment and early diagnosis of the disease.                                              

Key industry players are adopting strategic initiatives such as product launches, partnerships, and expansion strategies to increase their market share. For instance, in September 2021, Almirall, S.A. announced the commercial launch of Klisyri (tirbanibulin) in Germany and the U.K. The company announced this product launch upon receiving approval from the U.K.’s Medicines & Healthcare Products Regulatory Agency (MHRA) and the European Commission for the treatment of actinic keratosis of the scalp and face in adults. Moreover, in December 2020, Almirall, S.A. announced the U.S. FDA approval of Klisyri (tirbanibulin) for the treatment of actinic keratosis. 

List of Key Players of Actinic Keratosis Treatment Market

• Almirall S.A.
• LEO Pharma A/S
• Sun Pharmaceutical Industries Ltd.
• Novartis AG
• GALDERMA
• Ortho Dermatologics (Bausch Health Companies Inc.)
• BIOFRONTERA AG
• Hill Dermaceuticals, Inc.