According to the latest report published by Credence Research, Inc. “Actinic Keratosis Market (Liquid Nitrogen Cryotherapy, Surgical Therapy, 5-aminolevulinic acid (ALA), Methyl Aminolevulinate (MAL), 5-fluorouracil, Imiquimod, Ingenol Mebutate, Diclofenac Sodium, Chemical Peels and Others) – Growth, Future Prospects and Competitive Analysis, 2016-2022,” the actinic keratosis market was valued at USD 6,561.8 Mn in 2015 and is expected to reach USD 8,909.7 Mn by 2022, with the market progressing at a CAGR 4.35%from 2016-2022.
The purpose of the report is to illustrate the state of the market of Actinic Keratosis, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
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Actinic keratosis (AK) is characterized by skin papules, macules or plaques resulting from prolonged exposure to harmful UV exposure and can result in squamous cell carcinoma. Risk of developing actinic keratosis increases with advancing age and is particularly higher in men as against women. About 5-20% of patients with actinic keratosis lesions develop malignant and potentially fatal squamous cell carcinomas.
Among the various treatment methods available, destructive therapies such as liquid nitrogen cryotherapy and surgical therapy constitute the gold standard for AK treatment. In 2015, cryotherapy was the most commonly sought treatment by clinicians. However, better clinical results of photodynamic therapy and growing preference for treatments based on drug-device combination have urged both caregivers and patients to opt for novel treatment methods that offer both advanced efficacy, aesthetic benefits and reduced risk of future malignancies. Topical treatment is a prolonged treatment and comparatively more effective than other treatments but patient compliance is the key issue that hinders the growth of this segment. Photodynamic therapy is the fastest growing treatment throughout the forecast period due to rising demand for non-invasive surgeries, and less treatment sessions are the key factors expected to assist this market
North America is the largest market for actinic keratosis treatment due to growing prevalence of AK, better public awareness about occurrence of AK and associated risk of squamous cell carcinoma. According to American Academy of Dermatology (AAD), approximately 60% of the Americans aged 40 year or above, Actinic Keratosis is predisposed to develop having at least 1 AK lesion. Actinic keratosis is precursors of squamous cell cancer. U.S. held the largest share in the actinic keratosis market in 2015 owing to current prevalence of actinic keratosis in the region.Asia Pacific is the fastest growing market for AK treatments. Australia has the highest prevalence of actinic keratosis ranging between 40% to 60% in adult population. Growing awareness in the region and rapid development in healthcare infrastructure and healthcare expenditure are the key growth factors in Asia Pacific actinic keratosis market.
This market is majorly driven by wide presence of generic drugs and is moderately competitive. Photodynamic therapy market has developed a niche with methyl aminolevulinate and aminolevulinic acid drugs. Galderma and DUSA pharmaceuticals are the chief players in this space. Some of the major players in the global actinic keratosis market are Tolmar Pharmaceuticals, Inc, DUSA Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc., Aqua Pharmaceuticals, LLC, Galderma SA, Perrigo Company plc, LEO Laboratories, Apotex and others.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global Actinic Keratosis buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of Actinic Keratosis contains:
Analysis and forecast of Actinic Keratosis market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the Actinic Keratosis market;
Assessment and forecast of Actinic Keratosis market development;
Financial and business profiles of the leading companies in the Actinic Keratosis industry.
– Up to date working Actinic Keratosis data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed Actinic Keratosis for the period 2018 to 2026
– Planned Actinic Keratosis additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new Actinic Keratosis projects by region, key countries, and companies
– Details of major planned Actinic Keratosis projects in the world up to 2026
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