ACTINIC KERATOSIS MARKET ANALYSIS

Market Size and Trends

The global actinic keratosis market is estimated to be valued at USD 8.73 Bn in 2024 and is expected to reach USD 12.23 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.

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The growth in elderly population suffering from sun damage combined with increasing awareness regarding skin diseases is expected to drive the demand for actinic keratosis treatment. Additionally, technological advancements in treatment modalities and increasing availability of novel therapeutics are further expected to provide opportunities for the growth of actinic keratosis market players. However, lengthy product approval timelines and high costs associated with new drug development may impede market growth to some extent during the forecast period.

Increasing Product Approvals by Regulatory Authorities

Increasing number of product approvals for the treatment of actinic keratosis from regulatory bodies such as European Commission is expected to drive the growth of the global actinic keratosis market over the forecast period. For instance, in March 2020, Biofrontera AG, a Germany-based pharmaceutical company, announced that it had received approval from the European Commission for the use of its drug, Ameluz, in combination with photodynamic therapy for the treatment of adults suffering from actinic keratosis on the extremities and trunk/neck in Europe.

Market Concentration and Competitive Landscape

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Increasing research and development activities by key market players are expected to drive the global actinic keratosis market during the forecast period. For instance, in January 2023, Bioforntera AG, a biopharmaceutical company, announced that it had initiated Phase 3 clinical trial to evaluate the safety and efficacy of Ameluz in a field-directed treatment of actinic keratosis (AK) on the extremities, neck, and trunk.

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Global actinic keratosis market growth is expected to be hampered owing to the side effects of the drugs prescribed for actinic keratosis. Some of the common side effects of actinic keratosis drugs are burning or crusting, redness or discoloration, itching and rash, soreness, etc. some of the serious side effects of actinic keratosis drugs are vomiting, severe stomach ache, skin red rashes, etc.

Market Opportunities – Increasing Awareness Campaigns by Key Market Players

Increasing adoption of inorganic growth strategies, such as launch of awareness campaigns, is expected to offer lucrative market growth opportunities. For instance, in June 2022, GALDERMA, a dermatology company, announced that it had launched Face the Facts Campaign to raise awareness about actinic keratosis (AK). 

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The treatment type segment includes topical treatment, surgical procedure, photodynamic therapy, and others. The topical treatment sub-segment is estimated to hold 28.4% of the market share in 2024 owing to various advantages. Being a non-invasive option, it is more convenient for patients to apply creams or gels on the affected area as opposed to undergoing certain procedures. This convenience factor has made topical treatment popular especially in the early stages of the disease. Another major driver is the minimal side effects associated with topical treatment. Creams usually have very mild and localized side effects if any. This allows for a safer treatment approach. Certain options are also over-the-counter medicines which increases accessibility. As topical agents spare patients from pain and discomfort of other alternatives, compliance is improved. This has resulted in many topical formulations becoming first line therapies. With ongoing research yielding stronger but gentler topical formulations, popularity of this segment continues to increase. Features like once-daily application further enhance user-friendliness. As dermatologists also consider it appropriate for majority of actinic keratosis cases in early stages, topical treatment maintains its leading position in the global actinic keratosis market.

Insights, By End User: Availability of Advanced Diagnostic and Treatment Facilities

The end user segment includes hospitals, dermatology clinics, spas and rejuvenation centers, homecare settings, and others. The hospitals sub-segment is estimated to hold 32.7% of the market share in 2024. This is because hospitals are equipped with better diagnostic and treatment infrastructure to comprehensively manage the condition. Advanced facilities like biopsy, photodynamic therapy machines, etc. allow accuracy in diagnosis and effective treatment management. An integrated team of dermatologists, surgeons, and supporting staff is conducive for efficient care. Hospitals also provide favorable reimbursement for therapeutics as well as procedures carried out. This ensures access to care is not hindered by costs. Referrals from primary physicians also contribute to high patient volume in hospitals.

Regional Insights

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North America remains the dominant region in the global actinic keratosis market and is estimated to hold 39.4% of the market share in 2024 owing to high disease prevalence rates in the region. The U.S. accounts for the largest share primarily due to growing geriatric population that is more prone to the disease. Additionally, increased awareness regarding early diagnosis and available treatment options along with favorable reimbursement policies in the country have supported the market growth over the years. The strong presence of leading pharmaceutical companies in the region engaged in developing novel therapeutic alternatives against actinic keratosis is another major factor contributing to North America's large market size.

Asia Pacific has emerged as the fastest growing regional market for actinic keratosis treatment. Countries such as China, India, and Japan are witnessing rapid growth supported by rising health expenditures, surge in medical tourism, and improving access to healthcare facilities. The rising consumer disposable incomes have also increased willingness to spend on aesthetic procedures. This has positively impacted the demand for therapeutics against actinic keratosis as people are more concerned about early signs of skin damage and aging. In addition, the growing prevalence of the disease due to increasing exposure to UV radiation from sunlight on account of hot and humid climates in Asia Pacific provides immense growth opportunities.

Market Report Scope

Key Developments

• In December 2023, Vidac, a clinical-stage biopharmaceutical company, announced that it had initiated Phase 2b trial for its candidate therapy (VDA-1102) to treat actinic keratosis (AK), and has engaged with a research team from a leading clinical dermatology clinical research institute (CentroDerm GmbH)
• In June 2023, Bioforntera AG, a biopharmaceutical company, announced its The Sun Bus sponsorship. It is a mobile clinic and classroom offering public education and free skin cancer screening to communities in the U.S. Biofrontera is committed to enhancing AK lesions treatment that are premalignant, however, if left untreated, may lead to squamous cell carcinoma.
• In May 2022, Almirall, S.A, a pharmaceutical company, in collaboration with Euromelanoma Academia Española de Dermatología y Venereología (AEDV), launched Actinic Keratosis (AK) Global Day, an awareness campaign, to raise awareness about the importance of monitoring the appearance and evolution of the skin lesions of actinic keratosis
• In February 2021, Almirall, S.A, a pharmaceutical company, announced that it had launched novel microtubule inhibitor tirbanibulin (Klisyri) in the U.S. for the topical treatment of actinic keratosis (AK) on the face or scalp
• In June 2020, Hill Dermaceuticals, Inc., a leader in dermatological products, announced that its product, Tolak (Fluorouracil) 4% Cream, has been successfully registered in 13 countries of Europe including the U.K., France, Belgium, and Italy

*Definition: Actinic keratosis is a damage caused to skin due to excessive sun exposure. Actinic keratosis is a very common precursor to skin cancer. Actinic keratosis is considered a chronic disorder, where the majority of patients experience recurrent lesions over time. Actinic keratosis increases the risk of developing skin cancer, as it may develop into squamous cell carcinoma (SCC), a common and sometimes invasive skin cancer. Actinic keratosis is an early precursor to squamous cell carcinoma, a malignant skin tumor that develops from the keratinizing cells (keratinocytes) in the epidermis or skin adnexa.

Market Segmentation

•  Treatment Type Insights (Revenue, USD Bn, 2019 - 2031)
  • Topical Treatment
  • Surgical Procedure
    • Chemical peels
    • Cryosurgery
    • Curettage and desiccation
    • Others
  • Photodynamic Therapy
  • Others
•  End User Insights (Revenue, USD Bn, 2019 - 2031)
  • Hospitals
  • Dermatology Clinics
  • Spas and Rejuvenation Centers
  • Homecare Settings
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
  • Almirall, S.A
  • Bausch Health Companies Inc.
  • Perrigo Company plc.
  • Sun Pharmaceutical Industries Ltd.
  • Hill Dermaceuticals, Inc.
  • Tolmar Pharmaceuticals, Inc.
  • Bioforntera AG
  • Cipher Pharmaceuticals Inc.
  • Vidac
  • Athenex, Inc.
  • GALDERMA
  • LEO Pharma A/S