The market for Porokeratosis Treatment is projected to expand at a CAGR of 7% during the forecast period of 2024 to 2032. Numerous factors, including an increase in renal transplant cases, improved reimbursement policies in developed nations, an increase in research funding, and intensifying competition among market participants, continue to contribute to the expansion of the global market. The porokeratosis treatment market is driven by several factors, such as the rising prevalence of the condition among healthcare professionals and patients. The rising prevalence of porokeratosis is a major factor driving the market for treatments for this condition. Porokeratosis is a rare disorder, but its incidence has increased in recent years due to factors such as increased UV radiation exposure and increased use of immunosuppressive drugs.
The growing awareness of porokeratosis among healthcare professionals and patients, resulting in an increasing demand for effective treatments for the condition, is also driving the market for porokeratosis treatments. As more individuals are diagnosed with porokeratosis, there is a growing need for information and education regarding the condition and its treatment. This is resulting in an increased demand for treatments and therapies that can help manage the symptoms of porokeratosis and improve the quality of life for those who have the condition. In addition, technological advancements in dermatology are driving the market. In addition, the development of new, more effective therapies and treatments for porokeratosis drives demand for these products. This includes the development of new topical and systemic therapies, as well as new technologies such as photodynamic therapy and laser therapy. Increasing healthcare expenditures are also a market driver. Patients are more willing to invest in the treatment of porokeratosis due to growing awareness of the condition and the availability of new treatments. This is causing an increase in the number of patients seeking treatment for porokeratosis, as well as a corresponding rise in healthcare expenditures.
Increasing Prevalence of Superficial Disseminated Actinic Porokeratosis
Porokeratosis is a rare skin condition that affects fewer than two hundred thousand Americans. The most prevalent form of porokeratosis is the distribution of actinic porokeratosis (DSAP). The reported prevalence of DSAP ranges from 23% to 61.1%, whereas the reported incidence ranges from 12.6% to 43.4% annually. Due to these high prevalence and incidence rates, DSAP is the most frequently treated disorder in the United States. Mibelli The second most common type of porokeratosis is porokeratosis. Porokeratosis is a precancerous lesion that can transform into a cancerous growth. In 6.9% to 30% of reported cases, Pokerokeratosis progressed to non-melanoma skin cancer. About 8% of those affected by Mibelli's porokeratosis develop skin cancer, according to one study. With a median age of 3.5 years, 10.68% of kidney transplant patients in Spain developed porokeratosis in a single series.
As the incidence of porokeratosis in patients who have undergone a renal transplant rises, the market will be bolstered. In 2017, 10.68% of renal transplant recipients in the United States suffered from porokeratosis, according to a report. DSAP is a form of porokeratosis that primarily affects the forearms and legs as a result of excessive sun exposure. Almost 43.4% of women between 30 and 50 years old are diagnosed with DSAP, which is twice as prevalent in women as in men. There is a risk of developing squamous cell carcinomas at the affected site of the body in cases where DSAP is harmful.
There are numerous creams and gels for preventing infection, thereby expanding the market for treatment adoption. It is a rare disease that affects nearly 200,000 people in the United States. According to a publication by the National Library of Medicine, Diclofenac 3% gel is a potential treatment for DSAP, thereby increasing its use.
Increasing Demand for Aesthetic Products
The benefits of the provided treatment improved the aesthetic appearance, performance, and removal of the malformed lesions. The porokeratosis treatment is highly dependent on factors such as the size of the wound, its location, the patient's aesthetic preferences, the availability of treatment, and the appearance of the wound. The demand for porokeratosis treatment has increased as a result of rising income and improved and expanded knowledge of aesthetics. Consequently, consumers increasingly view porokeratosis treatment as a necessary tool for leading a healthier lifestyle. The topical products are in high demand due to their accessibility and ease of use. Due to its high price, laser therapy is popular among affluent consumers. No incision or hospitalization is required, which contributes to its popularity and makes it a more popular therapy for the treatment of porokeratosis.
Consumers are increasingly concerned with aesthetics, particularly in developed nations where disposable income and reimbursement regulations are increasing. Consumers in developed nations are becoming aware of the disease's malignant transformation. The market for porokeratosis will expand as the demand for personal care increases. There is sufficient clinical surveillance to comprehend porokeratosis' malignant transformation. This awareness has increased the demand for porokeratosis treatments. However, the majority of awareness is currently in developed nations, but the market and awareness are rapidly expanding in developing nations as a result of the improved global dissemination of knowledge.
Side Effects Reported During Therapy
Laser treatment side effects include mild erythema, slight hyperpigmentation, and contemporary edema. According to dermentz.org, no treatment has proven to be effective over the long term, which increases patients' reluctance to undergo treatment. In addition, the high cost of treatment and people's lack of knowledge about skin treatments are other factors that inhibit the growth of porokeratosis treatment.
Laser Therapy to be the Fastest-Growing Market
Porokeratosis has become increasingly treated with laser therapy. The physician destroys the area of the skin with a laser device, allowing new skin to grow in its place. According to an article by Amarateedha Prak LeCourt, patients with various types of porokeratosis who underwent laser therapy experienced positive outcomes. One patient with linear porokeratosis, for instance, exhibited improvement when a 585 nm flashlamp-pumped pulsed eye laser was administered. Another individual with DSAP responded positively to laser therapy. As laser therapy is risk-free and has no associated downtime or morbidity with pigment or textural changes, its adoption could contribute to the expansion of porokeratosis treatment.
Hospitals to Remain Dominant Segment Among the Market by End User
Hospitals represent a significant market opportunity for porokeratosis treatment. Hospitals are prominent centers for the diagnosis and treatment of porokeratosis, and they provide a comprehensive array of services, including diagnostic testing, medical and surgical treatment, and follow-up care. This can lead to increased revenue opportunities for hospitals. Utilizing the most recent technologies and developments in porokeratosis treatment, hospitals can improve patient outcomes and attract more patients. Therefore, hospitals are well-positioned to capitalize on the growing demand for effective porokeratosis treatments.
North America Remains as the Global Leader
The growth of the porokeratosis treatment market in North America is influenced by factors such as the condition's rising prevalence, rising awareness among healthcare professionals and patients, and the availability of novel treatments and therapies. The market is anticipated to be dominated by North America due to the increasing prevalence of DSAP and the number of renal transplants. According to sciencedirect.com, the incidence of porokeratosis has increased alongside the number of kidney transplant patients.
According to niddk.nih.gov, more than 661,000 Americans have kidney failure and more than 468,000 patients are on dialysis, which may impact porokeratosis cases as 10% of patients with kidney problems have the disease. Asia's contribution to the growth of the market is influenced by the expansion of healthcare infrastructure and expenditures. In addition, Japan's aging population has led to an increase in cases of the disease in the country. In Asia, DSAP and Mibelli are the most prevalent types of porokeratosis.
People's lack of knowledge about the treatment is the cause of the increase in cases; therefore, the government should take steps to help people in rural areas gain knowledge about the treatment, which could lead to a rise in treatment adoption. Europe is in second place in the porokeratosis market because rising incidences and innovations by researchers and manufacturers are driving market expansion. Increasing participation by manufacturers in the treatment of porokeratosis may stimulate market growth.
Investment in R&D to Enhance Market Share
The producers of porokeratosis treatments employ a variety of expansion strategies to increase their market share in the global protein markets. According to the increased funding for the treatment of porokeratosis, key players are actively investing in more effective and superior treatments for porokeratosis. Key players are investing in the development and introduction of a superior and cost-effective product for the porokeratosis treatment market, particularly in developing nations where aesthetic spending is still relatively low. With an increase in funding for porokeratosis treatment and the subsequent rise in product launches, there is intense competition among the major players.
Market leaders include Coherent Inc., Alma Lasers, Almirall, Allergan, Pfizer, Lumenis, Coty Inc., Cutera, Bioness Inc., Biogen, PhotoMedex Inc., Valeant Pharmaceuticals, Hologic Inc., IPG Photonics Corporation, IRIDEX Corp. and other notable players.
The FDA approved Almirall's new topical treatment for actinic keratosis, tirbanibulin, in December 2020. Tirbanibulin is a novel microtubule that must be administered once every five days. In one of the largest Phase III clinical study programs for Actinic Keratosis lesions, tirbanibulin demonstrated efficacy in 57 days on the face and scalp of a large number of patients. In January 2021, Hologic, a global leader in women's health, announced the acquisition of Biotheranostics, Inc. This company is in the commercialization phase and offers molecular diagnostic tests for breast and metastatic cancers. The goal of the acquisition is to leverage commercial capabilities, accelerate growth, provide more personalized treatment, and improve clinical outcomes for women.
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 Porokeratosis 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 |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Type
| |
Diagnosis
| |
Treatment
| |
End-user
| |
|
Region Segment (2022-2032; US$ Million)
|
Key questions answered in this report
