Awareness programmes by non-profit organisations have increased people’s awareness of actinic keratosis treatments in developed economies and are expected to increase the value of actinic keratosis treatment market.
Future Market Insight’s (FMI) latest research on the global actinic keratosis treatment market predicts revenues of more than $8bn by the end of 2028. The company’s report on actinic keratosis treatments further projects significant growth potential with high single-digit average year-on-year growth rate over the 2018-2028 period.
Overview of the actinic keratosis treatment market
In the US, actinic keratosis is estimated to affect 10% of women and 26.5% of men, while the prevalence of actinic keratosis in the UK is 6% in women and 15% in men.
In addition, people with high-fat diets also tend to be at high risk of actinic keratosis. Thus, increasing prevalence of actinic keratosis is a major factor expected to drive the growth of the actinic keratosis treatment market over the forecast period.
The availability of a large volume of clinical evidence data for the actinic keratosis treatment has increased awareness among patient base who want to participate effectively in their own treatment journey for faster relief.
This also helps physicians and prescribers to understand the success rate different options for the actinic keratosis treatment in isolation and combination, which will upsurge the revenue growth of actinic keratosis treatment market. The flexibility to choose treatments, especially combination treatments for faster patient relief due to availability of clinical evidence documentation, are factors expected to propel treatment innovation and revenue growth of the actinic keratosis treatment market over the forecast period.
Combination of topical fluorouracil and cryotherapy are the most commonly prescribed actinic keratosis treatments. The combination therapy of fluorouracil and cryotherapy has a success rate of around 90% for widespread multiple actinic keratosis lesions. This combination has a high success rate due to convenient administration, lower potential for irritation and systemic absorption of fluorouracil cream.
When combined with cryotherapy, the use of the fluorouracil cream for one week improved outcomes versus cryotherapy alone.
There are various treatment options available for actinic keratosis but topical treatment is prescribed by the physicians as a first line of treatment. Topical medication for actinic keratosis treatment has a success rate of around 25%–60% in isolation, while photodynamic therapy is more successful in combination with various topical applications. The cost of topical medication is much less compared to other options.
Topical medication for actinic keratosis includes gels and creams that can be self-prescribed and easily applied to the affected area of the body and most of the topical creams and gels are easily available in retail pharmacies and drug stores. Hence, the topical treatment segment is expected to gain maximum market share in terms of value.
Actinic keratosis is a chronic skin disease that can further transform into skin cancer. Medicare and Medicaid are therefore providing reimbursements for actinic keratosis treatments and various private health insurance companies in US also reimburse the costs. Medicare provides different current procedures terminology (CPT) codes for actinic keratosis treatments by different methods such as photodynamic therapy and cryotherapy.
This favourable reimbursements scenario is one of the factors that are expected to boost the demand for cryotherapy and photodynamic therapy for actinic keratosis treatment in the US. Therefore, the North America market is assessed to be one of the most lucrative regions for actinic keratosis treatments, estimated to gain a 34.8% market value share and anticipated to reach market value of $2.6bn by 2028.
Actinic keratosis treatment market companies
FMI’s report tracks the key companies operating in the actinic keratosis treatment market, including GlaxoSmithKline, Novartis, Nestle, Sun Pharmaceutical, Bausch Health Companies, Almirall, LEO Pharma, Pierre Fabre Pharmaceuticals, Biofrontera and Cipher Pharmaceuticals.
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To preview analysis of the global actinic keratosis treatment market by treatment type and disease type, click here.
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