ID: MRFR/Pharma/4313-HCR | 100 Pages | Published By Rahul Gotadki on March 2023
Seborrheic Keratosis Market is expected to register a CAGR of 5.80% to reach USD 3.4 Billion by 2030.
Seborrheic Keratosis Market Overview The Seborrheic Keratosis Market is projected to reach USD 3.4 Billion by 2030 at 5.80% CAGR during the forecast period 2022-2030. One of the most prevalent noncancerous skin growths in elderly persons is seborrheic keratosis. Shoulders, backs, abdomens, faces, chests, and scalps are the most common sites for growth. The most popular approach for removing the growth is cryosurgery. The approach involves freezing the growth with liquid nitrogen. The market for seborrheic keratosis is being driven by rising technological breakthroughs and more engagement from industry leaders. Other driving forces in the seborrheic keratosis market include rising aesthetic demands, increased government support, regulatory modifications, and increased funding and reimbursement. The increased desire for aesthetics, as well as the rising occurrence of various skin lesions, are creating favorable conditions for the market to expand. The global market for seborrheic keratosis treatment is predicted to explode. With an increasing number of variables supporting the cosmetic and aesthetic quotient, the industry could see a significant increase in the next years. More variables may be expected to increase demand for seborrheic keratosis treatment. Surgical removal, laser treatment, and cryosurgery are among the options for treatment. The market may be able to bring about favorable improvements. Surgical and topical solution treatments could be segmented in the worldwide seborrheic keratosis treatment market. Cryosurgery, electrocautery, curettage, and laser ablation could be used to subdivide the market for surgical treatment. The experts meticulously examine each market category, focusing primarily on its growth.
Sources: Annual reports, Press release, White paper, and Company presentation
The seborrheic keratosis market is segmented on the basis of type, diagnosis, treatment, and end-user.
On the basis of the type, the market is segmented into common seborrheic keratosis, reticulated seborrheic keratosis or adenoid seborrheic keratosis, stucco keratosis, clonal seborrheic keratosis, irritated seborrheic keratosis, seborrheic keratosis with squamous atypia, melanoacanthoma, dermatosis papulosa nigra, and inverted follicular keratosis. The common seborrheic keratosis is further segmented into basal cell papilloma and solid seborrheic keratosis. The stucco keratosis is further segmented into digitate seborrheic keratosis, hyperkeratotic seborrheic keratosis, serrated seborrheic keratosis, and verrucous seborrheic keratosis.
On the basis of the diagnosis, the market is classified into skin biopsy and others.
On the basis of the treatment, the market is classified as surgical procedures, medication, medical procedures, and others. The surgical procedures segment is further classified into cryosurgery, electrocautery or electrosurgery, curettage, and others. The medical procedures segment is further classified into freezing, tissue scraping, laser therapy, and others.
Eskata was approved by the FDA in December 2017 by Aclaris Therapeutics (hydrogen peroxide). Eskata is a topical solution with a high concentration of hydrogen peroxide for the treatment of elevated seborrheic keratoses.
The competitive landscape for seborrheic keratosis includes information from a rival, Aclaris Therapeutics. Production capacities, corporate strengths and weaknesses, product introduction, product width and breadth, and application domination are all mentioned by the corporation in the Seborrheic Keratosis Market.
The Americas dominate the Seborrheic keratosis market owing to the rising awareness among people about the condition and high healthcare expenditure. According to the statistical data suggested by Centers for Disease Control and Prevention (CDC), the total health expenditure in the United States was USD 3.2 trillion in 2015. Whereas, hospital care accounted for a share of 32.3%.
High prevalence of Seborrheic keratosis is also found to be a propelling factor in the Seborrheic keratosis market. According to a study published in Journal of Drugs in Dermatology in 2015, it is found that Seborrheic keratosis is one of the common cutaneous lesions which affects more than 83 million Americans. It is also reported that among all the patients with Seborrheic keratosis, around 33% have more than 15 Seborrheic keratosis lesions and 67% have 15 or fewer Seborrheic keratosis lesions.
Europe holds the second position in the Seborrheic keratosis market. It is expected that the financial support provided by the government, and private bodies for research & development and favorable reimbursement policies in the healthcare is likely to drive the Seborrheic keratosis market in the European region.
Owing to the huge patient pool, developing healthcare technology, and rising participation of market players, are driving the Seborrheic keratosis market in Asia Pacific. The Asia Pacific is the fastest growing Seborrheic keratosis market.
Increasing healthcare expenditure is also promoting the market growth in Asia Pacific countries. As per the statistics suggested by Australian Institute of Health and Welfare, it is found that the total healthcare expenditure was around USD 170.4 billion in 2015, i.e., 3.6% higher than the expenditure of 2014
The Middle East & Africa holds the lowest market share in Seborrheic keratosis market due to lack of technical knowledge and poor medical facilities.
Some of key the players in the seborrheic keratosis market are Aclaris Therapeutics, Alma Lasers, Angiodynamics, Inc., Apira Science Inc., Becton Dickinson and Company, Biolase Inc., BioLight Technologies LLC, Coherent, Inc., Cutera, Erchonia Corporation, Integra Miltex, IRIDEX Corp., KAI Medical, Lumenis, Quanta Systems S.p.A., Quantumpm, Syneron Medical Ltd., Theralase Inc, THOR Photomedicine, Valeant, and others.
Seborrheic Keratosis is a noncancerous skin growth, mostly found in old adults.
Seborrheic Keratosis Market is expected to exhibit a strong 5.80% CAGR over the forecast period from 2022-2030.
Growing awareness about personal aesthetics is likely to be a key driver for the market.
Americas dominate the Global Seborrheic Keratosis Market.
Leading players in the Seborrheic Keratosis Market include Aclaris Therapeutics, Alma Lasers, and Cutera, among others.