VALLEY COTTAGE, N.Y. – The global actinic keratosis treatment market is projected to reach US$ 8.5 Bn by the end of 2029, growing at a CAGR of 7% during the forecast period 2019-2029, states the new Future Market Insights (FMI) report. Presence of favorable medical insurance policy, increasing acceptance of therapeutic and minimally invasive procedures, and growing prevalence of skin diseases are major factors that are impacting the growth of the actinic keratosis treatment market.
“Availability of clinical data regarding combination therapy of actinic keratosis is empowering surgeons and dermatologists with better outcomes and high rate of recovery. An embrace of R&D has also been underway to lower the potential of irritation post treatment and to enhance systemic absorption of topical creams such as fluorouracil,” says FMI analyst.
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Increasing Combination Therapy Options Influence Actinic Keratosis Treatment
Dermatologists are continually working towards adoption of several methods for actinic keratosis treatment. Studies have shown that a combination of fluorouracil cream and cryotherapy provides a huge success rate and offers various benefits such as lower irritability, convenience of administration and availability, and enhanced absorption of fluorouracil cream. Introduction of similar combination therapies is expected to fuel growth of the actinic keratosis treatment market.
Topical Treatment and Photodynamic Therapy Hold Three-Fourth Revenue Share
With widespread availability and deep market penetration, topical treatment for actinic keratosis continues to witness higher adoption. Sales of topical treatment products are projected to surpass US$ 3.3 Bn by 2029. Topical treatment creams contain fluorouracil that is being widely used as a chemotherapy drug. Whereas, adoption of photodynamic therapy is expected to spur rapidly at a CAGR of 8.7% over the forecasted period. Rising interest in fewer treatment sessions and non-obstructive surgeries remains a key factor burgeoning the demand for photodynamic treatment.
Demand for Actinic Keratosis Treatment Surges in Hospitals
Adoption of actinic keratosis treatment in hospitals and private dermatology clinics continues to witness maximum growth. Growing awareness of various treatment options among patients along with ease of use and accessibility are resulting in increased demand from hospitals and private dermatology clinics. As actinic keratosis is closely related to skin cancer, key market players are also targeted towards capitalizing on cancer treatment centers.
North America Creating Lucrative Growth Opportunities
After an acute analysis by FMI analyst, North America is expected to lead the global market with 46% revenue share in 2029. Proactive government initiatives and high prevalence of skin diseases are propelling the actinic keratosis treatment market growth. Emergence of solar-induced actinic keratosis treatment is expected to create lucrative opportunities for the market players in the U.S. North America will continue to hold bulk share of the actinic keratosis treatment market, due to favorable reimbursement policies and health insurance programs offered by the government, including Medicare and Medicaid in the U.S., as well as private insurance companies
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Some of the pioneering key players in the global actinic keratosis treatment market are utilizing widespread resources on innovational and developmental activities to deliver essential products for treating actinic keratosis. Moreover, they provide solutions to global customers by strengthening their brand reputation and setting trends to revolutionize the global market.
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