Actinic Keratosis Treatment Market to Account for US $8 Bn by 2028
Actinic Keratosis Treatment Market Revenue to Expand Significantly Owing to High Treatment Penetration for Topical Products
Valley Cottage, NY -- (SBWire) -- 11/16/2018 --Awareness programs by non-profit organization about the actinic keratosis treatment have increased the awareness level among the people about the actinic keratosis treatment in developed economies, which is consequently expected to increase the value of actinic keratosis treatment market. The company's latest research on global actinic keratosis treatment market reflects the market to account for revenues over US$ 8 Bn, by 2028 end. The report on actinic keratosis treatment further projects significant growth potential with high single digit average year-on-year growth rate over the period of 2018-2028.
Overview of the Actinic Keratosis Treatment Market
In the U.S., actinic keratosis is estimated to affect 10% of females and 26.5% males, while the prevalence of actinic keratosis in the U.K. is 15% in males and 6% in females. Additionally, people with high fat diet 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 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 has also helps physicians and prescribers to understand the success rate different options for the actinic keratosis treatment in isolation and also in 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 thus the revenue growth of the actinic keratosis treatment market over the forecast period.
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Combination of topical fluorouracil and cryotherapy is the most commonly prescribed actinic keratosis treatment. The combination therapy of fluorouracil and cryotherapy for actinic keratosis treatment has success rate of around 90% for widespread multiple actinic keratosis lesion. This combination for actinic keratosis treatment has high success rate due to convenient administration, lower potential for irritation and systemic absorption of fluorouracil cream. Use of the fluorouracil cream for one week when combined with cryotherapy for actinic keratosis treatment improved outcomes versus cryotherapy alone, hence it is mostly prescribed by the medical professionals for better outcome of actinic keratosis treatment.
There are various options available for actinic keratosis treatment but the topical treatment is prescribed by the physicians as a first line of treatment. Topical medication for actinic keratosis treatment has a success rate of 25–60% in isolation, whereas photodynamic therapy is more successful in combination with various topical applications. Cost of topical medication for actinic keratosis treatment is much less compared to other options for actinic keratosis treatment, owing to which it has greater among preferred by the patients. Topical medication for actinic keratosis treatment includes gels and creams that can be self-prescribed and can be easily applied to the affected area of the body, which is also one of the reasons for the high preference of topical treatment for actinic keratosis. Besides, most of the topical creams and gels used for the actinic keratosis treatment are easily available in retail pharmacies and drug stores. Hence, topical treatment segment by product type for global actinic keratosis treatment market is expected to gain maximum market share in tem of value.
Actinic keratosis is a chronic skin disease, which can further transform to skin cancer, hence Medicare and Medicaid are providing reimbursements for the actinic keratosis treatment. Besides, various private health insurance companies in U.S. also reimburse the cost for actinic keratosis treatment. Medicare provides different CPT codes for the actinic keratosis treatment by different methods such as photodynamic therapy and cryotherapy. Favorable reimbursements scenario by Medicare and Medicaid are factors expected to boost the demand cryotherapy and photodynamic therapy for actinic keratosis treatment and in U.S. Therefore, North America is assessed to be most lucrative region for actinic keratosis treatment market. North America actinic keratosis treatment market is estimated to gain 34.8% market value share and anticipated to reach the market value of US$ 2,636.0 Mn by 2028.
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Actinic Keratosis Treatment Market: Companies
The report tracks the key companies operating in the actinic keratosis treatment market, such as GlaxoSmithKline plc., Novartis AG, Nestle SA, Sun Pharmaceutical Ltd., Bausch Health Companies Inc., Almirall, LLC, LEO Pharma Inc., Pierre Fabre Pharmaceuticals, Inc., Biofrontera , Cipher Pharmaceuticals Inc.
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