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Actinic keratosis, commonly known as solar keratosis, is a pre-cancerous skin lesion caused by extensive sun exposure. Actinic keratosis medications help remove or destroy precancerous skin lesions before they turn malignant. The global actinic keratosis market is primarily driven by the increasing incidence of non-melanoma skin cancers such as basal and squamous cell carcinomas across the world.
The global actinic keratosis market is estimated to be valued at US$ 8,070.0 Mn in 2024 and is expected to exhibit a CAGR of 4.7% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the actinic keratosis market are Almirall, S.A., Bausch Health Companies Inc., Perrigo Company plc., Sun Pharmaceutical Industries Ltd., Hill Dermaceuticals, Inc., Spear Pharmaceuticals, Tolmar Pharmaceuticals, Inc., Bioforntera AG, Cipher Pharmaceuticals Inc., Vidac, Athenex, Inc., 3M, and Mayne Pharma Group Limited. The increasing prevalence of non-melanoma skin cancers, including basal cell carcinoma and squamous cell carcinoma globally is boosting the demand for actinic keratosis medications. Owing to the rising skin cancer cases, companies operating in the actinic keratosis market are focusing their attention on expanding their geographical presence in high potential markets to strengthen their market position.
Market key trends
Increasing adoption of combination therapy: Combination therapy uses more than one medication or treatment option to treat actinic keratosis. Combination therapy reduces the recurrence of actinic keratosis lesions and allows for treatment of a greater surface area. Hence, combination therapy is gaining popularity in the treatment of actinic keratosis.
Porter’s Analysis
Threat of new entrants: High capital requirement and strict regulations for clinical trials pose barriers for new companies to enter the market.
Bargaining power of buyers: Large players developing new therapies have increased bargaining power over payers and buyers.
Bargaining power of suppliers: Established raw material suppliers serving key market players have some bargaining power.
Threat of new substitutes: Ongoing research on alternative therapies provide potential substitutes in the future.
Competitive rivalry: Major companies compete on the basis of therapy effectiveness, cost effectiveness and marketing strategies to gain higher market share.
Geographical Regions
North America accounted for the largest share of the actinic keratosis market in 2024, with the U.S. being the major revenue generating country in the region. Increasing prevalence of actinic keratosis, along with an established reimbursement structure are expected to drive market growth.
The Asia Pacific region is poised to witness the fastest growth over the forecast period due to increasing initiatives for early detection of skin cancer, growing awareness about new therapies and rising healthcare expenditure in major economies such as China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
