Global Actinic Keratosis Market, by Treatment (Medication, Surgical Procedure (Chemical peel Cryosurgery, Curettage and desiccation, laser surgery), Photodynamic Therapy, Combination Therapies (Cryosurgery and PDT, Cryosurgery and a topical treatment, Topical treatments and PD), By End User (Hospitals and Specialty Clinics, Homecare), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 8,070.0 Mn in 2022, and is expected to exhibit a CAGR of 4.7% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing number of generic product launches by market key players is expected to drive growth of global actinic keratosis market. For instance, in November 2018, Perrigo Company plc, a healthcare company, launched Diclofenac sodium gel, 3%, a generic version of Solaraze Gel, 3% (diclofenac sodium gel, 3%). Solaraze Gel, 3% is indicated for the topical treatment of actinic keratosis.
Furthermore, increasing number of drug approvals for treatment of actinic keratosis from regulatory bodies is expected to drive the global actinic keratosis market growth. For instance, in December 2020, Almirall, S.A., a global biopharmaceutical company focused on skin health, announced that Klisyri (tirbanibulin) received approval from the U.S. Food and Drug Administration (FDA) for the topical treatment of actinic keratosis (AK) of the face or scalp.
Global Actinic Keratosis Market– Impact of Coronavirus (COVID-19) Pandemic
The coronavirus (COVID-19) pandemic was first reported on December 31, 2019 in Wuhan, China. The World Health Organization (WHO) declared the COVID-19 a pandemic on March 11, 2020. The COVID-19 pandemic has disrupted the supply chain of all the essential commodities over the globe. Supply chain and manufacturing activities have been disrupted globally, due to lockdowns implemented by governments, restricted movement, and other COVID-19 safety precautions. However, the coronavirus (COVID 19) pandemic and lockdown in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector is one of the sectors which is majorly impacted by the COVID-19 pandemic. Moreover, the coronavirus pandemic has had a negative impact on the development, production, and supply of pharmaceutical products used in the treatment of various diseases such as skin diseases manufactured by various companies in North America, Europe, and Asia Pacific. The supply and production of pharmaceutical products are also affected due to the imposition of lockdown during the COVID-19 pandemic. This lockdown has resulted in the closure of industrial establishments, except manufacturing of essential commodities, and disruption in the supply chain of pharmaceutical products. Furthermore, according to a Science-Direct Journal article published in June 2021 about the impact of the COVID-19 pandemic on pharmaceutical systems and supply chains, the negative impact on the access and availability of essential medicines, particularly pharmaceutical products and antimicrobials, has been reported. Due to reduced inter-country transfer of products and services, as well as limited in-country capacity and manufacturing capabilities, most medical stores had extended lead times. Moreover, according to a review article published by the European Pharmaceutical Review journal in November 2020, the COVID-19 pandemic has caused major challenges with respect to drug shortage and increased manufacturing costs across the globe. Also, the same source stated that the COVID-19 pandemic has led to problems such as stockpiling drugs, transportation delay, and others.
Thus, impact of the Coronavirus (COVID-19) pandemic has been negative on global actinic keratosis market during the forecast period.
Browse 39 Market Data Tables and 22 Figures spread through 175 Pages and in-depth TOC on “Global Actinic Keratosis Market”- Forecast to 2030, by Treatment (Medication, Surgical Procedure (Chemical peel Cryosurgery, Curettage and desiccation, laser surgery), Photodynamic Therapy, Combination Therapies (Cryosurgery and PDT, Cryosurgery and a topical treatment, Topical treatments and PD), By End User (Hospitals and Specialty Clinics, Homecare), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/actinic-keratosis-market-1006
Key players are focused on expanding their product reach in untouched market, which is expected to drive growth of the global actinic keratosis Market. For instance, in June 2021, Mayne Pharma Group Limited announced that the company has received license for the Australian rights to SOLARAZE (diclofenac sodium 3%) gel and ACTIKERALL (fluorouracil and salicylic acid, 0.5% / 10%) topical solution from Almirall, SA. Both products are indicated for the treatment of actinic keratosis and are approved by the Australian Therapeutic Goods Administration (TGA).
Key Takeaways of the Global Actinic Keratosis Market:
- Global actinic keratosis market is expected to exhibit a CAGR of 4.7% during the forecast period. Increasing research and development for the development of drug by market key players is expected to drive growth of the global actinic keratosis market. For instance, in July 2018, Vidac, a biopharmaceutical company has announced the initiation of a Phase 2b clinical trial of VDA-1102 ointment to treat subjects with actinic keratosis (AK), an early stage of cutaneous squamous cell carcinoma (cSCC), which is a common form of non-melanoma skin cancer.
- Among region, North America is expected to expand at the highest CAGR in the global actinic keratosis market over the forecast period. Increasing product approvals for treatment of actinic keratosis from regulatory bodies is expected to drive the global actinic keratosis market growth. For instance, in November 2017, Perrigo company plc, a pharmaceutical company, announced that it received tentative approval from the U.S. Food and Drug Administration (FDA) for the generic version of Picato Gel (ingenol mebutate) 0.05%. It is indicated for the topical treatment of actinic keratosis.
Major players operating in the global actinic keratosis market include Almirall, S.A., Bausch Health Companies Inc., Perrigo Company plc, Sun Pharmaceutical Industries Ltd., Hill Dermaceuticals, Inc., Spear Pharmaceuticals, Tolmar Pharmaceuticals, Inc., Biofrontera AG, Cipher Pharmaceuticals Inc., Vidac, Athenex, Inc., 3M, and Mayne Pharma Group Limited.
