Actinic Keratosis Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Actinic Keratosis Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Actinic Keratosis Treatment Market is expected to register a CAGR of 5.3% during the forecast period.

The Covid-19 pandemic resulted in several restrictions on non-emergent doctor visits, as well as a complete lockdown in the majority of nations, negatively influencing the actinic keratosis treatment market, especially during the early stages. The pandemic has resulted in delays in the diagnosis and treatment of patients with actinic keratosis, including patient presentational delays, diagnostic referral delays due to diagnostic capacity limitations, and treatment delays due to increased risk of COVID-19 transmission or health policy limitations on treatment capacity. For instance, According to the American Society of Plastic Surgeons, data updated in February 2022, in the United States, about 15.1 million treatments including surgical, photodynamic therapy, and topical drugs for actinic keratosis were given in 2019, but this number fell to 12.7 million in 2020. Furthermore, the American Academy of Dermatology was in constant contact with dermatologists to limit the number of patients with non-urgent medical concerns, such as actinic keratosis. Therefore, the pandemic had a significant impact on the target market over the forecasted period.

Moreover, according to the study "Global Impact on Dermatology Practice Due to the COVID-19 Pandemic" Published in the Journal of Clinical Dermatology in February 2021, the pandemic of coronavirus disease 2019 (COVID-19) had a significant impact on dermatology, as indicated by the reduction in unnecessary consultations and procedures, as well as the introduction of teledermatology (TD). Teledermatology was used by a large number of dermatologists during the pandemic. The significant increase in teledermatology utilization emphasizes the importance of continuing to treat non-emergent dermatological problems as well as the assumption that teledermatology can significantly reduce the risk of COVID-19 transmission. Therefore, the COVID-19 pandemic has accelerated the use of teledermatology and created lucrative opportunities for the global actinic keratosis treatment market growth in the studied period.

Furthermore, the increasing prevalence of actinic keratosis, growing demand for minimally invasive procedures, and increasing research and development for the development of novel therapies are the key driving factors in the actinic keratosis treatment market. According to a study in the New England Journal of Medicine, published in February 2021, actinic keratosis can be successfully treated with Tirbanibulin in two months, however, at one year, nearly half of patients who had a complete response reported recurrence of lesions. Such data demands for more effective and cutting-edge actinic keratosis treatments, creating attractive market entry opportunities for industry participants. Therefore, it is expected to aid the overall market growth in the studied period.

However, one of the key factors limiting the global growth of the actinic keratosis treatment market is a lack of awareness among people and the risk associated with available treatment options.

Key Market TrendsTopical Medications Segment is Expected to Hold a Major Market Share in the Actinic Keratosis Treatment Market

The topical medications segment holds a significant share in the actinic keratosis treatment market and is anticipated to show a similar trend over the forecast period due to the easy availability of products, high target specificity, and a lower risk of scarring. Some of the United States Food and Drug Administration (FDA) approved medications for treating actinic keratoses are topical fluorouracil, imiquimod, diclofenac, ingenol mebutate, and combination treatment with drugs.

Rising incidence of baldness, skin wrinkling and sunburn patches have led to increased actinic keratosis cases. Those from Australia and New Zealand in particular often showed more adverse effects of sun exposure than patients from other regions. According to the study "Actinic Keratosis" updated in July 2021, the prevalence of actinic keratosis is higher in countries closer to the equator. Because of its proximity to the equator, Australia's prevalence rate of actinic keratosis is close to 60%. (in addition to its sizable White population). In comparison, in a non-equatorial location such as the United States, the prevalence of actinic keratosis is around 20%. Therefore, the growing prevalence rate of actinic keratosis among people is expected to increase the demand for effective treatment such as topical medications, in turn, fueling the target segment growth in the studies period.

Furthermore, actinic keratosis is considered precancerous because a cutaneous squamous cell carcinoma may arise from actinic keratosis. As the number of actinic keratoses increases the chance of developing squamous cell carcinoma increases. Thus, as the prevalence of actinic keratosis has increased, there is an urgency to adopt the most cutting-edge treatments, which leads to a large increase in the number of new drugs in the pipeline. For instance, in February 2021, Almirall, S.A. launched Klisyri (tirbanibulin), a topical treatment for actinic keratosis (AK) of the face and scalp. Klisyri was approved by the United States Food and Drug Administration (FDA) in December 2020.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

North America is expected to hold a major share in the global actinic keratosis treatment market due to growing awareness about actinic keratosis and the associated risk of squamous cell carcinoma in this region. According to the American Academy of Dermatology Association, data updated in March 2022, more than 40 million Americans develop actinic keratoses (AKs) each year. Additionally, actinic keratosis is prone to develop in roughly 60% of Americans over the age of 40 who have at least one lesion. As a result, the rising prevalence of actinic keratosis is expected to increase the demand for effective treatments, which will fuel the regional market growth over the study period.

Furthermore, the presence of a well-established healthcare infrastructure, increasing healthcare spending, and new guidelines for actinic keratosis treatments fuel the growth of the overall regional market. For instance, in June 2021, new guidelines for the treatment and management of actinic keratosis were published in the Journal of the American Academy of Dermatology (JAAD). Topical creams, gels, solutions, cryosurgery, and photodynamic therapy are the current treatment options for actinic keratosis. However, for the management of actinic keratosis, UV protection is recommended by the JAAD, which includes avoiding the sun and wearing sun-protective clothes and broad-spectrum sunscreen. Actinic keratosis is routinely treated with topical creams, gels, and solutions. On the other hand, JAAD strongly recommends cryosurgery as a treatment for actinic keratosis. In combination therapy, 5-FU and cryosurgery can be used concurrently to treat and manage actinic keratosis. Such a factor is anticipated to propel the North American market over the forecasted period.

Competitive Landscape

Some of the prominent players operating in the actinic keratosis treatment market are Bausch Health Companies Inc, LEO Pharma A/S, Almirall, S.A., GlaxoSmithKline plc, Cipher Pharmaceuticals Inc., Biofrontera AG, Sun Pharmaceutical Industries Limited, 3M Company, Galderma SA, Alma Lasers, and Novartis AG and Hill Dermaceuticals, Inc.

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