Skin Diseases Treatment Industry: Porter’s Analysis and PESTEL Analysis
Author : Tom Clark | Published On : 12 Feb 2024
The economic value generated by the Skin Diseases Treatment industry was estimated at approximately USD 88.25 billion in 2022, and it is expanding at a CAGR of 4.3% from 2023 to 2030, according to a new report by Grand View Research, Inc.
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.
Access the Global Skin Diseases Treatment Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Actinic Keratosis Treatment Market Growth & Trends
The global actinic keratosis treatment market size is expected to reach USD 8.9 billion by 2030, registering a CAGR of 4.20% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is expected to witness growth opportunities owing to factors such as the wide availability of actinic keratosis therapeutics, rising awareness about the disease, and the rise in AK treatment. Moreover, the increasing prevalence of actinic keratosis and the rising geriatric population across the globe are expected to fuel the market growth during the forecast period.
Invasive squamous cell carcinoma may develop from AK when it becomes malignant (iSCC). Despite the fact that there are a number of potential causes for iSCC, AK is one of the most frequent ones. Additionally, basal cell carcinoma and non-melanoma skin cancer could result from AK. As a result, the demand for AK products across sales channels is being driven by the early diagnosis and treatment of actinic keratosis as a preventive strategy for comorbidities.
In addition, future pipeline medications and the increased use of combination therapy are key market drivers. For instance, Almirall, S.A. has Klisyri (extended label) in phase III of R&D. Furthermore, a rise in the acceptance and commercialization of innovative drugs is another factor that is predicted to fuel market growth. Moreover, increased R&D activities are expected to accelerate the approval of novel drugs used in the treatment of actinic keratosis, hence, propelling the growth over the forecast period.
Order your copy of the Free Sample of “Skin Diseases Treatment Industry Data Book - Acne, Actinic Keratosis, Atopic Dermatitis, Alopecia Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Alopecia Market Growth & Trends
The global alopecia market size is expected to reach USD 16.02 billion by 2030, registering a CAGR of 8.74% from 2023 to 2030, according to a new report by Grand View Research, Inc. The approval of JAK inhibitors and tyrosine kinase inhibitors along with the rising target disease prevalence is expected to drive market growth.
The prevalence of alopecia areata (AA) and alopecia totalis is increasing globally. It is one of the most commonly encountered problems in clinics in the U.S. As per a research article published in March 2023, in the U.S. and UK, AA accounted for 0.6% to 2% of the new cases encountered in dermatology clinics. In hospital-based studies performed worldwide the incidence of AA is estimated to range between 0.57% to 3.8%.
The approval of new targeted pharmaceutical treatments is a key factor driving the alopecia market growth. For instance, in June 2022, the U.S. FDA approved Lilly’s Olumiant oral tablets for the treatment of severe alopecia in adult patients and is the first systemic treatment approved. Another key drug that is anticipated to be approved in 2023 is Pfizer’s Ritlecitinib. It is a dual inhibitor of Janus kinase 3 (JAK3) and tyrosine kinases.
Another key factor driving the industry’s growth is the increasing awareness regarding alopecia and thereby increasing treatment rates worldwide. The increase in the level of consciousness regarding physical appearance is one of the major reasons for the rising number of people seeking treatment. Additionally, rising investments in R&D and funding are also fueling market growth.
Key players operating in the Skin Diseases Treatment industry are:
- Sun Pharmaceutical Industries Ltd.
- Eli Lilly and Company
- GSK plc
- Teva Pharmaceutical Industries Ltd.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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