Actinic Keratosis Treatment Market Size, Share, Trends Analysis, And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Actinic Keratosis Treatment Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The actinic keratosis treatment market size has grown strongly in recent years. It will grow from $3 billion in 2023 to $3.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to treatment adherence, market competition, patient education initiatives, dermatological practices, research and clinical trials.

The actinic keratosis treatment market size is expected to see strong growth in the next few years. It will grow to $4.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to patient education and engagement, digital health integration, growing awareness, focus on preventive dermatology, personalized medicine trends. Major trends in the forecast period include shift towards combination therapies, technological advancements, personalized treatment approaches, increasing incidence rates, minimally invasive treatments.

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Market Drivers and Trends:

The expanding geriatric population is expected to propel the growth of the actinic keratosis treatment market going forward. The geriatric population refers to individuals who are elderly or aged, typically associated with advanced age, often defined as 65 years and older, and characterized by specific health considerations and challenges associated with the aging process. Actinic keratosis treatment in the geriatric population addresses precancerous skin lesions caused by sun damage, reducing the risk of skin cancer in elderly individuals. For instance, in October 2022, according to the World Health Organization, a Switzerland-based Intergovernmental organization, projected that by the year 2030, one out of every six individuals globally would be 60 years old or older. During this period, the proportion of the population aged 60 and over is expected to rise from 1 billion in 2020 to 1.4 billion. Furthermore, by the year 2050, the global population of individuals aged 60 and older is anticipated to double, reaching 2.1 billion. Therefore, the expanding geriatric population is driving the actinic keratosis treatment market.

Product innovations are a key trend gaining popularity in the actinic keratosis treatment market. Major companies operating in the market are introducing innovative products to sustain their position in the actinic keratosis treatment market. For instance, in July 2021, Almirall, a US-based pharmaceutical company, got approval for Klisyri (tirbanibulin), a topical microtubule inhibitor and an innovative topical treatment for actinic keratosis (AK). This is a topical first-in-class microtubule inhibitor that acts through a selective antiproliferative mechanism of action applicable for adults for the usage on the face or scalp.

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Major Key Players of the Market:

Sun Pharmaceutical Industries Ltd., Novartis AG, Hill Dermaceuticals Inc., Bausch Health Companies Inc., LEO Pharma A/S, Almirall SA, Biofrontera AG, Galderma SA, Mylan NV, Cipher Pharmaceuticals Inc., Pierre Fabre Pharmaceuticals Inc., Tolmar Pharmaceuticals Inc., Stanford Chemicals Company, Glaxo Smith Kline plc, Alma Lasers Ltd., 3M Company, Nestle SA, Cutanea Life Sciences Inc., DUSA Pharmaceuticals Inc., Foamix Pharmaceuticals Ltd., G&W Laboratories Inc., Hikma Pharmaceuticals plc, Innocutis Holdings LLC, Mayne Pharma Group Limited, Meda AB, Merz Pharma GmbH & Co KGaA, Perrigo Company plc, PharmaDerm A division of Fougera Pharmaceuticals Inc., Promius Pharma LLC, Ranbaxy Laboratories Limited, Sandoz International GmbH, Stiefel Laboratories Inc., Teva Pharmaceutical Industries Ltd., Valeant Pharmaceuticals International Inc., Zydus Pharmaceuticals Inc., Dermira Inc., Menlo Therapeutics Inc., Sol-Gel Technologies Ltd., Verrica Pharmaceuticals Inc.

Actinic Keratosis Treatment Market 2024 Key Insights:

• The actinic keratosis treatment market size is expected to see strong growth in the next few years. It will grow to $4.36 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%.
• The Rising Incidence Of Actinic Keratosis Fuels Growth In The Actinic Keratosis Treatment Market
• Innovative Products Drive Growth In The Actinic Keratosis Treatment Market
• North America was the largest region in the actinic keratosis treatment market in 2023

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