The actinic keratosis (AK) treatment market is anticipated to grow at a CAGR of about 4.5% during the forecast period 2023-2030.
In skin care, occurrence of rough, scaly, crusty, thick patches on the skin surface showing premalignant condition is referred as actinic keratosis. Skin colour changes such as pink, brown or flesh color, hard wart type surface, rough, scaly surface, burning and it itching sensations are usually found symptoms of actinic keratosis. Usually, physical observation and skin biopsy are conducted to diagnose and confirm actinic keratosis. As per certain studies the prevalence rate of AK was about 1.95 per 10,000 people whose average was in 40s. However, this rate was about 31.81 for people with average of 80 and above.
People who are exposed to more level of sunlight, and people with fair skin have higher probability of acquiring actinic keratosis. The prevalence is higher in western countries than the Asian countries. Generally, next phase of actinic keratosis leads to squamous cell carcinoma. Squamous cell carcinoma is a kind of cancer and early treatment reduces the risk to life. Threat related with untreated actinic keratosis is 20% higher than treated actinic keratosis. Hence, it is advisable to treat early to avoid progression of actinic keratosis and eventually squamous carcinoma.
Lack of Awareness is A Key Restraining Factor
Factors such as global warming, depletion of ozone layer, increasing number of cancer cases, chronic skin diseases and problems, sedentary lifestyle are the key factors that are rising the prevalence of this is condition and therefore, the market for AK treatment. Whereas, lack of awareness related to actinic keratosis, is a major setback in the treatment of AK. Therefore, it becomes very essential to create awareness of AK and benefits of early treatment of AK so as to reduce the chances of progressing to a malignant stage.
Diagnosis Delayed Due To Pandemic
Due to COVID-19 there will be significant impact on global actinic keratosis market. Lockdowns, quarantines, social distancing, disturbed supply chain, constraints on travelling has been impacting routines and non essential services. People have been delaying visiting physicians and diagnostic centre unless it is for emergency. Similarly, healthcare institutions as filled with covid 19 patients have not been encouraging other patients to visit hospitals for non critical cases. This has significantly delayed the diagnosis and therefore, the treatment. All the more in the case of AK initial symptoms are not very severe to rush for emergency diagnosis. This has delayed the diagnosis of AK.
North America Leading the AK treatment Market
The global actinic keratosis market in this report is segmented by region as follows: North America, Europe, Asia Pacific and Rest of the World (RoW) regions. Currently, actinic keratosis market of North America is leading followed by Europe which is expected to grow comparatively at a higher rate. The reasons for growth of AK treatment market in North American and European actinic keratosis market are advanced healthcare infrastructure, awareness among people related to the disease and its treatment, high income, favourable regulatory framework and reimbursements.
Because of rapidly developing medical infrastructure, China and India are emerging markets in upcoming years. Overall, Asia Pacific region is showing significant growth over forecast period. Besides that, due to attention of Japanese government to improve the quality of healthcare facilities, Japanese market is expecting to portray boosting growth in coming years. Medical tourism will attract patients across the globe to Asia Pacific region. Increased income of people, rising literacy rate, increased spending on healthcare, demand for quality and effective treatments are the driving factors for the market growth.
Key Market Players
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Actinic Keratosis Treatment market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Medication
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
