The global Seborrheic keratosis treatment market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio
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The global Seborrheic keratosis treatment market is expected to post a CAGR of more than 6% during the period 2019-2023 (Graphic: Business Wire)
A key factor driving the growth of the global seborrheic keratosis treatment market is the high prevalence of seborrheic keratosis. The number of people with seborrheic keratosis is increasing globally. For instance, three out of ten men and four out of ten women in the UK are found with seborrheic keratosis. The high prevalence of seborrheic keratosis is high in people who are frequently exposed to the sun due to increasing participation in outdoor sports. Therefore, the increasing incidence of this condition will lead to the growth of the seborrheic keratosis treatment market over the forecast period.
As per Technavio, the emergence of non-invasive treatments will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global seborrheic keratosis treatment market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global seborrheic keratosis treatment market: Emergence of non-invasive treatments
The treatment of seborrheic keratosis is largely dominated by electrocautery, laser therapy, and cryotherapy. However, most of the available treatments are invasive, painful, and expensive. As a result, there is a high market demand for non-invasive and low-cost treatments. The non-invasive treatments pose minimal risk of infection and are painless when compared with invasive treatments. Moreover, the emergence of non-invasive topical formulations offers cosmetically elegant solutions for treating seborrheic keratosis without infection, scarring, and dyspigmentation.
"With rapid developments in the healthcare facilities and the availability of advanced treatment options, the life expectancy of the geriatric population is increasing globally. Seborrheic keratosis usually appears in people above the age of 40 years. As the prevalence of seborrheic keratosis increases with age, the surge in the geriatric population will boost the growth of the seborrheic keratosis treatment market during the forecast period," says a senior research analyst at Technavio.
Global seborrheic keratosis treatment market: Segmentation analysis
This market research report segments the global seborrheic keratosis treatment market by type (cryotherapy, electrocautery, and other treatments) and geographic regions (North America, Europe, Asia, and ROW).
The cryotherapy segment held the largest seborrheic keratosis treatment market share in 2018. The growth of the cryotherapy segment is mainly driven by the rising aesthetic quotient among people and the non-invasive approach of this treatment.
The North America region led the market in 2018, followed by Europe, Asia, and ROW respectively. The market growth in North America can be attributed to the growing prevalence of seborrheic keratosis in the region and the emergence of ESKATA; the first and only US FDA approved topical treatment for raised seborrheic keratosis.
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Five Forces Analysis
Market Segmentation
Geographical Segmentation
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Market Drivers
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Vendor Landscape
- Vendors covered
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