According to a new report published by Prudent Markets, titled, “Actinic Keratosis Treatment Market by Drug Type, Type, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2019–2026," the global actinic keratosis treatment market size was valued at $1,117million in 2018, and is projected to reach $1,558million by 2026, growing at a CAGR of 4.2% from 2019 to 2026.

Actinic keratosis (AK) is the most common precancer that forms on skin damaged by long-term exposure to ultraviolet radiation from the sun and/or indoor tanning. It is characterized by rough, scaly patch on skin most commonly found on your face, lips, ears, back of your hands, forearms, scalp, or neck. Surgical procedures, topical treatments, photodynamic therapy, and combination therapy are used for treatment of actinic keratosis. Drugssuch as 5-fluorouracil, diclofenac, imiquimod, and ingenol mebutate have been approved for the treatment of actinic keratosis. 

The major factors that boost the growth of the global actinic keratosis treatment market includerise in prevalence of actinic keratosis, growthin geriatric population, increasein demand for actinic keratosis drugs, preferable usage of topical actinic keratosis therapeutics, and increase in healthcare awareness towardactinic keratosis treatment. In addition, surge in clinical R&D of new drugs for the treatment of actinic keratosis globe are further expected to boost the market growth during the forecast period. However, availability of alternate treatment are expected to hamper the market growth.  

Based on drug type, the market is categorized into fluorouracil, imiquimod, diclofenac, and others. Presently fluorouracil dominates the global market, and is anticipated to continue this trend duringthe forecast period. The key factors that drivethe market growth are use of fluorouracil as a first line treatment, increase in demand & cost effectivity, and wide availability of fluorouracil act as the key factors that significantly contribute toward the growth of the market.  

According to distribution channel,the market is classified into hospital pharmacies, drug stores & retail pharmacies, and online providers. The online providers segment is anticipated to depict significant growth during the forecast period due to rise in preference for online purchasing of drugs over the traditional methods, increase in awareness of online pharmacy, and rise in number of internet users.

According to Onkar Sumant, Manager, Healthcare at Prudent Markets, “The growth of the actinic keratosistreatment market is attributed to rise in prevalence ofactinic keratosis across the globe. Furthermore, rise in adoption of topicaltherapeutics as a first line treatment and increase in number of pipeline drugs for the actinic keratosis treatmentare the other factors that contribute to the growth of the market.”

KEY FINDINGS OF THE STUDY 

• Depending on drug type, the fluorouracil segment held more than one third share in the global market in 2018.

• By type, the prescription segment accounted for the largest market share in 2018, and is expected to remain dominant throughout the forecast period. 

• Based on distribution channel, the drug stores & retail pharmacies segment held approximately half share in the global market in 2018.

• Based on region, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 6.3% during the forecast period. 

In 2018, North America accounted for the major share in the actinic keratosis treatment market, and is expected to continue this trend during the forecast period, owing to availability of higher number of target population, higher number of R&D activities with large presence of key players, rise in demand for actinic keratosis treatment drugs, and higher healthcare awareness. However, Asia-Pacific is expected to register the highest growth in the future, owing to rise in prevalence of actinic keratosis in countries such as Australia & New Zealand, and the developing R&D sector are influencing the market growth.

Research Link:https://www.prudentmarkets.com/report/actinic-keratosis-treatment-market/517/