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    Actinic Keratosis Treatment Market Size Estimated to Reach $7.8 Billion by 2026
    (I-BusinessNews.Com, May 06, 2021 ) Actinic Keratosis Treatment Market size is estimated to reach $7.8 billion by 2026, growing at a CAGR of 4.4% during the forecast period 2021-2026. Actinic keratosis (AK) is one of the most common pre-cancers that forms on skin damaged by chronic exposure to ultraviolet (UV) rays emitted from the sun. Actinic keratosis appears as small dry, scaly and crusty patches of skin and is often easier to feel owing to their rough texture. The ultraviolet (UV) rays emitted from the sun are considered to be essential for the progression of actinic keratosis (AK) to squamous cell carcinoma. Increase in the adoption of photodynamic therapy, rise in the investment by the key players to launch new drugs, growing demand for ingenol mebutate for the treatment of actinic keratosis, and rise in the awareness about actinic keratosis and related treatment are the factors that are set to drive the growth of the Actinic Keratosis Treatment Market for the period 2021-2026.



    Actinic Keratosis Treatment Market Segment Analysis - By Drug Type



    The Actinic Keratosis Treatment Market based on the Drug Type, can be further segmented into the Fluorouracil, Diclofenac, Imiquimod, and Others. The Fluorouracil segment held the largest share in 2020 and is also estimated to be the fastest growing segment with a CAGR of 4.9% over the period 2021-2026. This growth is owing to its cost-effectiveness and wide availability features. Photodynamic therapy (PDT) and fluorouracil are the most commonly used agents for actinic keratosis. The Fluorouracil has the ability to slow the growth of cancer cells, which is driving the growth of the Actinic Keratosis Treatment Market. The Imiquimod segment held the second largest share in 2020 owing to its ability to activate the immune system to fight abnormal skin growth. Imiquimod is increasingly being used in developing nations as it triggers the immune system to produce natural substances to fight against cancer cells. Imiquimod also improves the cosmetic appearance of chronically damaged skin by ultraviolet (UV) rays.



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    Actinic Keratosis Treatment Market Segment Analysis - By End User



    The Actinic Keratosis Treatment Market based on the End User can be further segmented into Hospitals, Specialty Clinics, Homecare, Others. Hospitals segment held the largest share in 2020 owing to its cost-effectiveness, ease of accessibility, and availability to patients. Photodynamic therapy is increasingly being adopted in hospitals for the treatment of squamous cell carcinoma. The increase in the focus on healthcare infrastructure in developing nations is driving the growth of the Actinic Keratosis Treatment Market. Homecare is estimated to be the fastest-growing segment with a CAGR of 5.1% over the period 2021-2026. This growth is owing to the factors such as rise in the awareness among consumers about the benefits of self-care treatment options, growing opportunities for caregivers for home healthcare services, and increase in the investment by the key players.



    Actinic Keratosis Treatment Market Segment Analysis - By Geography



    North America held the largest share with 28% of the overall market in 2020. The growth in this segment is owing to the factors such as growing availability of advanced healthcare facilities, presence of structured regulatory framework, growing demand for ingenol mebutate for the treatment of skin damaged by the radiation emitted by ultraviolet (UV) rays, and rise in the awareness about actinic keratosis and related treatment. The presence of key players in the region is driving the growth of the Actinic Keratosis Treatment Market. Asia-Pacific is estimated to be the fastest growing segment over the period 2021-2026. The growth in this segment is owing to the increase in healthcare spending, rise in the adoption of photodynamic therapy for the treatment of squamous cell carcinoma, growing prevalence of the disease in countries, such as Australia and New Zealand and rise in the awareness about the home healthcare services in the region.



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    Actinic Keratosis Treatment Market Drivers



    Rise in the Adoption of Minimally Invasive Treatments



    There is a rapid increase in the adoption of minimally invasive treatments owing to demand for fast recovery; and rise in the inclination towards cost-effectiveness for treating squamous cell carcinoma. Healthcare providers in developed nations are offering prescription coverage for selected procedures for actinic keratosis, which is further propelling the growth of the Actinic Keratosis Treatment Market.



    Increase in the Government Initiatives



    The governments across the world are focusing on making healthcare facilities more affordable by implementing various initiatives. These initiatives have increased the number of patients participating in actinic keratosis treatment, which is propelling the growth of the Actinic Keratosis Treatment Market. Moreover, the presence of attractive rebate programs is further driving the growth of the Actinic Keratosis Treatment Market.



    Actinic Keratosis Treatment Market Challenges



    High Cost of Actinic Keratosis Treatment



    The key players across the globe are increasing their investments to develop new drugs for the treatment of actinic keratosis. However, high cost of actinic keratosis treatments and complications involved with the care modules currently available is one of the major factors that is estimated to reduce the growth of the Actinic Keratosis Treatment Market.



    Actinic Keratosis Treatment Market Landscape



    Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Actinic Keratosis Treatment Market. Key companies of this market are Bausch Health Companies Inc, Biofrontera AG, LEO Pharma A/S, Sun Pharmaceutical Industries Ltd, Novartis AG, 3M Pharmaceuticals Inc, Hill Dermaceuticals Inc, Mylan N.V., Almirall, Galderma SA among others.



    Acquisitions/Product Launches:



    In February 2021, Almirall has launched Klisyri, a topical treatment for actinic keratosis, which is a novel topical microtubule inhibitor that is indicated for AK treatment on the face and scalp. It is suitable for patients who prefer a treatment option with a short duration and proven safety.



    In June 2020, Sun Pharmaceutical Industries Ltd has launched Luvelan Kerastick for topical solution, which is used to treat minimally to moderately thick actinic keratoses of the face, scalp, and upper extremities.



    Key Takeaways



    Geographically, North America Actinic Keratosis Treatment Market accounted for the highest revenue share in 2020 and it is poised to dominate over the period 2021-2026 owing to the growing demand for ingenol mebutate for the treatment of actinic keratosis.



    The growing adoption of photodynamic therapy for the treatment of squamous cell carcinoma is driving the hospitals segment.



    The high cost of actinic keratosis treatment is one of the major factors that is said to reduce the growth of the Actinic Keratosis Treatment Market.



    Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Actinic Keratosis Treatment Market report.



    Related Reports :



    A. Basal Cell Carcinoma Market

    https://www.industryarc.com/Report/16907/basal-cell-carcinoma-market.html



    B. Acne Vulgaris Market

    https://www.industryarc.com/Report/15326/acne-vulgaris-treatment-market.html



    For more Lifesciences and Healthcare Market reports, please click here



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