Seborrheic Keratosis Treatment Market – Growth, Size, Share, Trends, Info, Forecast and Competitive Analysis 2018-2026
According to the latest report published by Credence Research, Inc. “Seborrheic Keratosis Treatment Market – Growth, Future Prospects and Competitive Analysis, 2018-2026.
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The global seborrheic keratosis treatment market expected to reach US$ 1,320.8 Mn in 2026. Seborrheic keratosis is one of the most common benign skin growths in adults and its prevalence rises with the increasing age. These growths are normally painless and can be left untreated; however, they could be bothersome depending on size and location, and for aesthetic or cosmetic reasons. The exact cause of seborrheic keratosis is unknown, yet the incidence is directly proportional with advancing age. Seborrheic keratosis also tends to run in heredity. In 2014, seborrheic keratosis was estimated to affect 83 million people and dermatologists reported an average diagnosis of 155 patients per month with the disease in the United States.
Growing preference for cosmetic and aesthetic quotient and high prevalence of seborrheic keratosis are observed to be the key factors driving the seborrheic keratosis treatment market. Although surgical treatments are available in the market to treat seborrheic keratosis, a topical solution (40% hydrogen peroxide – Eskata by Aclaris Therapeutics) is approved by the FDA in 2017, which may augment the market growth due to expected improvement in treatment adherence.
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Furthermore, Aclaris Therapeutics has also filed an application in the European regulatory agencies for approval. The approval of the topical solution along with the ongoing research for other therapeutics will contribute to the growth of the seborrheic keratosis treatment market during the forecast period.
The global seborrheic keratosis treatment market is segmented into surgical treatments and topical solution treatments. Surgical treatments segment is further categorized into cryosurgery, electrocautery, curettage, and laser ablation. Topical solution treatment segment includes the currently approved 40% hydrogen peroxide solution.
While destructive treatments such as cryotherapy and curettage will remain the gold standard for seborrheic keratosis treatment, new therapies such as laser beam treatment and topical applications are anticipated to achieve more efficiency with comfort and convenience for patients.
Based on geographical segmentation, North America dominated the global market with more than 30% market share in 2017, and projected to hold its dominance during the forecast period. High prevalence of seborrheic keratosis and adoption of advanced treatment technologies in the region drives the North America market.
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Asia Pacific and Latin America markets are anticipated to experience the fastest growth during the forecast period owing to phenomenal growth in demand for skin care and aesthetic products in the regions. The key players in the seborrheic keratosis treatment market include Aclaris Therapeutics, Inc., Cortex Technology ApS, CryoConcepts LP, Cryoswiss GmbH, EpiPharm AG, DRE Medical, Inc., H&O Equipments SA, Orasure Technologies, Inc., Special Medical Technology Co., Ltd., and Wallach Surgical Devices, Inc.