Skin Diseases Treatment Industry Data Book - Acne, Actinic Keratosis, Atopic Dermatitis, Alopecia Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The global Skin Diseases Treatment Industry was estimated at USD 88.25 billion in 2022 and is anticipated to increase at a significant CAGR of 4.3% from 2022 to 2030.
Grand View Research’s skin diseases treatment industry data book is a collection of market sizing & forecasts insights, regulatory & technology framework, pricing intelligence, competitive benchmarking analyses, and macro-environmental analyses studies. Within the purview of the database, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.
Actinic Keratosis Treatment Market Insights
The global actinic keratosis treatment market size was estimated at USD 6.42 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.20% from 2023 to 2030. The market is anticipated to witness growth opportunities owing to factors such as the rising prevalence of Actinic Keratosis (AK) and the wide presence and easy availability of generic drugs for its treatment. Moreover, the market is driven by increasing awareness about actinic keratosis and various strategic initiatives undertaken by industry players. Increasing consumer awareness regarding dermatological diseases, such as actinic keratosis, is a major growth booster for the market.
The increasing geriatric population across the globe is also anticipated to foster the growth of the market during the forecast period. According to America’s Health Rankings’ Senior Report 2021, it was estimated that more than 54 million adults aged over 65 live in the U.S. and their proportion in the total population accounted for 16.5%. Moreover, according to an article released by Statistics Canada in April 2022, more than 861,000 people in the country were aged 85 and above.
Moreover, actinic keratosis may lead to the development of squamous cell carcinoma, a type of skin cancer, which is expected to drive the actinic keratosis treatment market’s growth in the future. According to the Skin Cancer Foundation, anywhere between 40-60% of squamous cell carcinoma may start as an untreated precancerous lesion of actinic keratosis and 2-10% of cases may progress to Squamous cell carcinoma within the span of two years. This is likely to increase the adoption of the available treatment and early diagnosis of the disease.
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Alopecia Market Insights
The global alopecia market was valued at USD 8.19 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 8.74% from 2023 to 2030. One of the major driving factors for the market is the increasing awareness regarding alopecia treatment options, as people are becoming more conscious of their appearance and actively seeking solutions to address hair loss.
Increasing prevalence of hair loss, technological advancements in alopecia treatment, and the rise in prevalence of chronic diseases that are associated with hair loss are some of the major factors driving the market growth globally. According to data published by the American Hair Loss Association, it was stated that over 95% of hair loss in men is caused due to androgenetic alopecia. Similarly, data published by the International Society of Hair Restoration Surgery, it was estimated that nearly 40% of men encounter some degree of hair loss by 35 years of age, 65% at 60 years, 70% at 80 years, and 80% at the age of 85.Owing to these factors, the androgenetic alopecia market size in terms of revenue is estimated to grow at a significant growth rate during the forecast period.
The growing prevalence of hair loss is one of the major factors driving the alopecia treatment market. According to data published by the Journal of Clinical and Diagnostic Research (JCDR), around 60% of the global population has hair thinning problems and pattern hair loss is the most common form of hair loss in both males and females. Moreover, around 2% of the global population is at risk of developing alopecia areata in their lifetime globally, irrespective of gender.
Go through the table of content of Skin Diseases Treatment Industry Data Book to get a better understanding of the Coverage & Scope of the study
Skin Diseases Treatment Industry Data Book Competitive Landscape
The presence of well-established companies in the skin diseases treatment market makes the entry of smaller players with newer products difficult. Companies are highly focused on R&D to develop and launch novel products that give them a competitive edge. Moreover, bigger players are aiming at acquiring smaller companies with upcoming promising products.
Key players operating in the Skin Diseases Treatment Industry are:
- Pfizer Inc.
- AbbVie Inc.
- Sun Pharmaceutical Industries Ltd.
- GSK plc.
- Amgen Inc.
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