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We looked into the health of older people who may have weakened immune systems, making them more prone to a skin condition called actinic keratosis. A study in the Dermatology and Therapy Journal in 2015 found that as people get older, especially those above 50 years old, they are more likely to develop actinic keratosis. The number of older people, known as the geriatric population, has been increasing in recent years, creating a larger group of patients. In 2016, around 12.4% of the population in the Asia-Pacific region was 60 years old or more, and it's expected to reach 1.3 billion by 2050. This means more older people will be susceptible to actinic keratosis, leading to a greater demand for treatment.
Various treatments are available for actinic keratosis, including cryotherapy, topical medications, laser therapy, photodynamic therapy, and more. Many of these treatments are covered by health insurance plans from companies like Cigna and United HealthCare Services, Inc. For example, Cigna provides coverage for procedures like electro-surgery, laser surgery, and cryosurgery under specific codes. When these treatments are covered by insurance, it makes it easier for people to afford them. So, having favorable insurance policies that help with the costs is expected to boost the market for actinic keratosis treatment.
Understanding the health of older individuals is crucial because they are more at risk of developing actinic keratosis. This skin condition becomes more common as people age, especially those over 50. With the number of older people increasing globally, the pool of patients dealing with actinic keratosis is also growing. This highlights the importance of addressing the needs of the geriatric population when it comes to actinic keratosis treatment.
The available treatments for actinic keratosis often involve medical procedures such as cryotherapy, topical medications, laser therapy, and photodynamic therapy. These treatments can be expensive, but many health insurance plans cover them. Companies like Cigna and United HealthCare Services, Inc., offer medical coverage for various procedures related to actinic keratosis. Having insurance coverage for these treatments makes them more accessible and affordable for patients. The presence of favorable reimbursement policies, like those offered by insurance companies, is expected to drive the growth of the actinic keratosis treatment market in the coming years.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Growth Rate | Â Â 6.2% |
Actinic Keratosis Treatment Market Highlights:
Global Actinic Keratosis Treatment Market Overview
The Actinic Keratosis Treatment Market is anticipated to reach USD 3.99 Billion by 2032 at 6.2% CAGR during the forecast period 2023-2032.
COVID-19 Analysis of Actinic Keratosis Market
The global pandemic has disrupted multiple businesses and countries since the spread of the COVID-19 virus in December 2019. It has also been declared a global health emergency by the World Health Organisation. The global impact of coronavirus disease 2019 (COVID-19) is now beginning to be felt and will have a major impact on the actinic keratosis market in 2020. The epidemic of COVID-19 has had an effect on many aspects, such as flight cancellations; travel bans and quarantines; restaurants closed; all indoor/outdoor activities restricted; more than 40 countries declared a state of emergency; massive supply chain slowdown; stock market volatility; deteriorating corporate morale, increasing public fear and confusion about the future.
Actinic Keratosis Market Trends
Market Drivers
Adoption of minimally-invasive clinical treatments drives market growth
MRFR projects that the rising incidence of actinic keratosis market, the increasing adoption of minimally invasive clinical treatments, the presence of adequate medical coverage and the growing geriatric population are the drivers of demand development. In the meantime, the improved medical reimbursement environment has given rise to a stronger reaction from the patient. A variety of healthcare providers have begun to offer prescription coverage for selected procedures for actinic keratosis. Such policies have augured well for healthcare providers and patients alike..
Market Opportunities
Growing Government Initiatives to Create Growth Avenues for the Key Players
Government programmes to make healthcare facilities more affordable and available have also affected the number of patients participating in actinic keratosis therapy. The presence of attractive rebate programmes is projected to fuel demand growth during the forecast period.
Market Limitations
High Cost of Treatment Impedes Market Growth
However, the high cost of treatments and complications involved with the care modules currently available are some of the bottlenecks that have yet to be tackled. The clinical cost of procedures such as laser skin surfaces is high. Factors as such have a negative effect on the overall growth of the sector.
Actinic Keratosis Treatment Market Segment Insights
Global Actinic Keratosis Treatment Market has been segmented into Type, Medication, Procedure, and End User.
Actinic Keratosis Treatment Procedure Insights
Based on the procedure, the actinic keratosis market is divided into cryotherapy, photodynamic therapy, laser, chemical peel, and others. Among these, the cryosurgery segment had the largest market share in 2017 and is expected to have a high CAGR during the forecast period. Cryotherapy is a widely used medication for actinic keratosis, although creating successful photodynamic therapy is expected to remain a primary focus for major players in the market for actinic keratosis in the coming years.
Actinic Keratosis Treatment Medication Insights
By medication, the Actinic Keratosis Treatment Market is segmented into imiquimod cream, fluorouracil cream, Ingenol mebutate gel, and diclofenac gel. The diclofenac gel segment is expected to have risen comparatively faster than in 2024.
Actinic Keratosis Treatment Type Insights
The Actinic Keratosis Treatment Market is segmented into drugs and procedures on the basis of the type. In 2017, the procedural division held the largest market share and is likely to outperform the former over the evaluation period. This is partly due to the performance, quick outcomes and ease of use of procedures.
Actinic Keratosis Treatment End User Insights
On the basis of end-users, the industry is segmented into hospitals & oncology centres, dermatology clinics, outpatient surgery centres, and others. The hospital and oncology centre market is projected to remain extremely lucrative in 2018 and beyond, as hospitals and oncology centres have a high incidence of patients. Hospitals and oncology centres are expected to hold a commanding actinic keratosis market share in the global market for actinic keratosis over the projected period, with dermatology diagnostic clinics emerging as another leading segment of the Actinic Keratosis Treatment Market.
Actinic Keratosis Treatment Regional Insights
The geographical overview of the global actinic keratosis market has been conducted in four major regions, including the Asia Pacific, North America, Europe, and the Middle East and Africa.
North America leads the Americas with established end-use Sectors
The Americas is dominated by North America and is likely to be the major regional segment of the global actinic keratosis market over the forecast period. The simple availability in North America of advanced therapeutic treatments, including both combination therapy and monotherapy, is expected to be the key driver of the actinic keratosis market over the forecast period. More than 40 percent market share was jointly accounted for by North America and South America in 2017. In specific, North America provides major prospects for players in the industry. The growth of the industry in North America is influenced by factors such as the involvement of major suppliers, the growing prevalence of actinic keratosis, and increased demand for minimally invasive procedures. Growing efforts in cancer research in North America are also expected to fuel the demand for actinic keratosis over the projected period, as therapies for actinic keratosis play a critical role in stopping cancer tumours from developing and thereby helping to reduce the pressure on the healthcare system caused by the increasing incidence of cancer.
Germany to Lead Europe Market
Europe currently holds the second positing in the global actinic keratosis market. The demand in the area is projected to grow exponentially by the end of 2030. It is anticipated that the growing number of recorded cases of actinic keratosis and increasing medical tourism will fuel business growth in this area.
APAC to account as Fastest Growing Region
Due to the emerging geriatric population, Asia-Pacific is expected to be the fastest-growing market and the high prevalence of the disease in southern areas, such as Australia and New Zealand, is likely to create strong opportunities for actinic keratosis market players in this field. Medical tourism has emerged as a highly lucrative avenue for Asia Pacific players in the medical industry and is expected to expand steadily in the coming years, offering steady support for the region's rise in the demand for actinic keratosis.
The Middle East & Africa accounted for the least actinic keratosis market share in 2017, with the presence of low-income countries and strict government regulations.
Actinic Keratosis Treatment Market Competitive Landscape
In the global market for actinic keratosis therapy, the leading players are
- Stanford Chemicals (US)
- Alma Lasers (Israel)
- 3M (US)
- Sun Pharmaceutical Industries Ltd. (India)
- Galderma S.A (Switzerland)
- Leo Pharma (Denmark),
- Valeant Pharmaceuticals (US)
- BioLineRx (Israel)
- Cipher Pharmaceuticals Inc (Canada)
- Biofrontera AG (Germany)
Recent Development
December 2020: Athenex, Inc., a multinational biopharmaceutical corporation devoted to the research, production and promotion of innovative cancer treatment treatments and associated disorders, reported that Klisyri (tirbanibulin) has been authorised by the FDA for topical treatment of actinic keratosis (AK) in the face or scalp. Klisyri was the first branded patented medication approved by the FDA for Athenex to be introduced in the United States in 2021 in collaboration with Almirall. Athenex will deliver Klisyri, demonstrating the vertically integrated capabilities of the company, spanning from a preclinical lead to a mature product for commercial launch.
November 2020: Jupiter Wellness, Inc. announced its plan to lauch a clinical trial of its CaniSun sunscreen lotion for the treatment of actinic keratosis (AK), the most prevalent precancer caused by exposure to ultraviolet (UV) rays on the skin.
Actinic Keratosis Treatment Market Segmentation
Actinic Keratosis Treatment Type
- Medications
- Procedures
Actinic Keratosis Treatment End-User
- Hospitals & Oncology Centers
- Dermatology Clinics
- Ambulatory Surgical Center
Actinic Keratosis Treatment Medication
- fluorouracil cream
- imiquimod cream
- Ingenol mebutate gel
- diclofenac gel
Actinic Keratosis Treatment Based on Procedure
- crytherapy
- photodynamic therapy
- laser
- chemical peel
- others
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