Market Excerpt

The global seborrheic keratosis (SK) treatment expected to reach US$ 1,320.8 Mn by 2026. Growing preference for cosmetic and aesthetic quotient and high prevalence of seborrheic keratosis are observed to be the key factors driving the seborrheic keratosis treatment market. This market is further characterized by the presence of a multitude of players operating in various treatment modules such as laser, cryosurgery, surgical removal etc. In addition, with promising topical candidates in the pipeline, the seborrheic keratosis treatment market will witness a boost in future growth.

According to an article published by Jackson JM et.al in 2015 (Jackson JM et.al. Current Understanding of Seborrheic Keratosis: Prevalence, Etiology, Clinical Presentation, Diagnosis, and Management, J Drugs Dermatol; 2015 Oct; 14(10):1119-25.), an estimated of 83 million people were affected by seborrheic keratosis in 2014 and dermatologists reported an average diagnosis of 155 patients per month with the disease in the United States. Of these patients, 33% had over 15 lesions and 67% had 15 or lesser lesions. In addition, with the surge in geriatric population, the eligible patient pool for SK treatment further expands, thus driving the overall market growth. Furthermore, it was estimated that around 43% of the patients opt for the surgical treatment due to benign and less painful nature of the growth. Additionally, lack of reimbursement policies in developed as well as developing countries for the treatment hinders the market growth. Reimbursement is considered for seborrheic keratosis treatment only in cases of bleeding, itching and other medical reasons, and not for cosmetic treatments. Manufacturers are investing in research and development for the non-invasive and non-surgical treatment methods for seborrheic keratosis. For instance, in 2017, a topical solution - Eskata, 40% hydrogen peroxide, was approved for the treatment.

"Approval of topical solutions will drive the market during the forecast period"

Several topical solutions are used as off-label therapeutics to reduce the height of the seborrheic keratosis including ammonium lactate and alpha hydroxy acids among others. However, in 2017, the FDA approved hydrogen peroxide (40% solution), branded as Eskata developed by Aclaris Therapeutics, Inc. for the treatment of seborrheic keratosis. The product will be available in the United States after its expected commercialization in the first half of 2018. A few other topical solutions are currently in pipeline, which are expected to be approved within the forecast period. Development of cost-effective and non-surgical treatment options are anticipated to drive the market coupled with the rising awareness in the patient population.

Cryosurgery is the most preferred treatment for seborrheic keratosis, followed by other surgical treatment options such as electrocautery, curettage etc. With the adoption of laser treatment methods, the market for seborrheic keratosis treatments will experience an upsurge. In 2021, cryosurgery segment led the market in terms of market value and will retain its lead during the forecast period. High preference by physicians due to significant treatment outcomes mainly contribute to the dominance of this segment. Demand for topical solution treatment (Eskata) as a viable treatment option in the market, after its commercialization in 2018, significantly contribute to the market growth.

"Asia Pacific to experience lucrative growth during the forecast period"

Asia Pacific is expected to experience the fastest market growth during the forecast period owing to growing prevalence of SK and increasing adoption of surgical treatment in the region. Since there is no clarity on commercialization of Eskata (40% hydrogen peroxide) in the region, other treatment segments in the region will not face any substantial competition. In 2021, North America dominated the global seborrheic keratosis market owing to the adoption of advanced treatment options and awareness of the disease. Additionally, a majority of the players are headquartered in the United States, which further contributes to the supremacy of North America. In terms of market value, North America was followed by Europe in 2021. In Europe, it has been estimated that over 90% of adults aged over 60 or more have at least one or more SK lesions. Approximately 40%-60% of the entire population in Europe has at least one SK lesion. Northern Europe has a higher prevalence of seborrheic keratosis.

"Cryosurgery devices are among the major revenue contributors to the manufacturers"

Although several options are available in the market for seborrheic keratosis treatment, cryosurgery is the most preferred treatment method due to proven better treatment outcomes. Preference as viable treatment method coupled with high prevalence resulted in growing installation of cryosurgery devices in the United States and other developed countries. Furthermore, players are investing in introduction of cost-effective and non-surgical treatment of the disease. For instance, EpiPharm AG, a Switzerland based company, is investing in new and non-invasive therapies for the treatment of benign skin tumors. EPI-SK14, pipeline product, of EpiPharm is in Phase II clinical trials and is a non-invasive treatment for seborrheic keratosis. Furthermore, manufacturers have diverse product portfolio, which satisfies the growing demand of the disease burden.

This report further describes the major qualitative assessment factors including key market trends, market drivers & restraints, to aid in better understanding of global seborrheic keratosis treatment market. Furthermore, the key players are graphically mapped based on their product offering, market strategies and business strength. The report also provides attractive investment proposition based on the extensive geographical research. Key players profiled in the report include Aclaris Therapeutics, Inc., Cortex Technology ApS, CryoConcepts LP, Cryoswiss GmbH, EpiPharm AG, H&O Equipments SA, Orasure Technologies, Inc., Special Medical Technology Co., Ltd., and Wallach Surgical Devices, Inc.

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 Seborrheic Keratosis Treatment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Seborrheic Keratosis Treatment market and their expected impact during the forecast period.

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.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Seborrheic Keratosis Treatment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Seborrheic Keratosis Treatment market?
• Which is the largest regional market for Seborrheic Keratosis Treatment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Seborrheic Keratosis Treatment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Seborrheic Keratosis Treatment market worldwide?