Manufacturers Continue to Focus on Improving the Efficacy of Photodynamic Treatment
Photodynamic Treatment (PDT) is gaining increasing traction owing to its efficacy in the treatment of actinic keratosis. Manufacturers operating in the actinic keratosis treatment market continue to invest in improving the efficiency of the therapy to consolidate their position in the market. A recent development complementing the demand of photodynamic therapy in the actinic keratosis treatment market was the release of a study aiming to replace the standard blue light used in the therapy with daylight to substantially bring down the discomfort and pain caused during the therapy.
The study suggests daylight could potentially replace the high-intensity light in conventional PDT procedures while providing the same efficiency as the standard procedure. With numerous researches offering prospects of improving PDT for balding scalp and full face treatment, the demand for PDT is estimated to surge in the foreseeable future paving way for new opportunities in the actinic keratosis treatment market.
Increasing Incidences of Skin Cancer Development Post Actinic Keratosis Diagnosis to Fuel Growth
Actinic keratosis is increasingly being linked to the development of squamous cell carcinoma and basal cell carcinoma fuelling the widespread adoption of treatment for the condition as a preventive treatment for non-melanoma cancers. Studies suggest actinic keratosis may often cause the development of squamous cell carcinoma, the second most common skin cancer in the world, which can become invasive and life-threatening over time. However, treating squamous cell carcinoma in the early stages can substantially reduce the chances of its metastasis. This is a vital factor driving the growth of actinic keratosis treatment market.
Growing awareness about the adverse impact of actinic keratosis is fueling the demand for actinic keratosis medications. In addition, awareness campaigns being launched by non-profit organizations and government agencies is contributing significantly to the actinic keratosis treatment market proliferation. For instance, the Skin Cancer Foundation launched a campaign titled, “Ray Awareness – Preventing Skin Cancer” to spread awareness about the impact of UV radiations from the sun and tanning beds on the skin while highlighting actinic keratosis treatment as a key measure for preventing the development of non-melanoma cancers. The British Association of Dermatologists launched a campaign on similar lines educating people about the adverse impacts of actinic keratosis. The factors are expected to aid in bolstering the growth of the actinic keratosis treatment market.
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Development of Novel Drugs for Actinic Keratosis Treatment to Bolster Market Growth
Manufacturers operating in the actinic keratosis treatment market are investing heavily in research and development of novel drugs for the effective topical treatment of the condition. For instance, a total of 39 studies discussing the safety and efficacy of medications, drugs, procedures, and therapies are in phase 4 of FDA approval in the US. Aclaris Therapeutics Inc., a leading player operating in the actinic keratosis treatment market is involved in getting approval for its novel 101-A solution for topical treatment of the condition. Intensifying competition among the actinic keratosis treatment market players is estimated to create a surge in novel drug and product launches in the market which, in turn, is expected to uphold market growth. For instance, the development of ablative fractional laser therapy to be used in combination with photodynamic therapy or individually can open up lucrative opportunities for players operating in the actinic keratosis market.
Lack of Skilled Surgeons to Dampen Actinic Keratosis Treatment Market Growth
Skilled surgeons and professionals are required for conducting actinic keratosis treatment such as cryotherapy, chemical peel, and photodynamic therapy. However, a substantial shortage in the number of general surgeons is estimated to restrain actinic keratosis market growth. A recent study by WHO suggests a shortage of almost 13 million healthcare professionals around the world at the end of 2035.
Additionally, low awareness about the health condition in developing nations and higher costs of treatment are expected to slow down the actinic keratosis treatment market growth. Introduction of alternative natural remedies is also expected to negatively influence the actinic keratosis treatment market growth. For instance, numerous ongoing researches are studying the potential possibility of using ingenol, a plant-based extract, and Hanuka honey for actinic keratosis treatment.
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Actinic Keratosis Treatment Market – Competitive Landscape Assessment
The report profiles all the leading players operating in the actinic keratosis treatment market. Some of the key market players operating in the actinic keratosis treatment market include LEO Pharma Inc., Cipher Pharmaceuticals, Pierre Fabre Pharmaceuticals, Inc., Bausch Health Companies Inc., Almirall, Novartis AG, GlaxoSmithKline plc., Nestle SA, Sun Pharmaceutical Ltd., BioLineRX, Alma Lasers, Valeant Pharmaceuticals, 3M, and Stanford Chemicals. Key players operating in the actinic keratosis treatment market are focusing on collaborations for manufacturing innovative products.
