Seborrheic keratosis treatment market size to grow by USD 786.38 million between 2021 and 2026; Aclaris Therapeutics Inc., BioLineRx Ltd., among others, identified as key vendors

NEW YORK, April 13, 2023 /PRNewswire/ -- The seborrheic keratosis treatment market size is forecasted to increase by USD 786.38 million from 2021 to 2026, at a CAGR of 6.45%, according to the recent market study by Technavio. The growth of the market will be driven by the growing preference for the aesthetic quotient, the high prevalence of seborrheic keratosis, and a surge in the geriatric population. The report estimates the market size of seborrheic keratosis treatment in the key markets of North America, Europe, Asia, and Rest of World (ROW). - Read our Sample Report

Vendor Analysis

The global seborrheic keratosis treatment market is fragmented, with the presence of some large and many medium-sized players. The competition in the market is intense due to the presence of different types of devices used in various treatment options. Currently, the market is dominated by vendors providing devices necessary for cryosurgery. Established players are offering devices required for electrocautery for the treatment of seborrheic keratosis. For instance, Aclaris Therapeutics offers a topical solution, ESKATA. These factors are intensifying the competition among vendors. Some of the key vendors covered in the report include:

Aclaris Therapeutics Inc. - The company offers A-101 solution, a novel treatment for seborrheic keratosis.

BioLineRx Ltd. - The company offers seborrheic keratosis treatment products such as BL-5010.

Brymill Cryogenic Systems - The company offers seborrheic keratosis treatment products such as Cry-Ac and Cry-Ac-3.

Cortex Technology - The company offers seborrheic keratosis treatment products such as CryoPro.

Cryo Innovations

CryoConcepts LP

Cryoswiss GmbH

Erbe Elektromedizin GmbH

H and O Equipments

Special Medical Technology s.r.o

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Key Benefits for Industry Players & Stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.

The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Market Segmentation:

The market is segmented by application (cryotherapy, electrocautery, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)).

The market growth in the cryotherapy segment will be significant over the forecast period. The increasing prevalence of seborrheic keratosis and the rising aesthetic quotient among people are driving the growth of the segment. In addition, the growth of the cosmetic industry and the increased demand for aesthetic appearance are fueling the segment's growth.

North America will contribute 29% to the market growth during the forecast period. The growth of the regional market is primarily driven by the high prevalence of seborrheic keratosis. In addition, the increasing geriatric population and new research activities related to the establishment of innovative treatment methods and advances in electrocautery will fuel the growth of the seborrheic keratosis treatment market in North America.

Market Dynamics:

Key Drivers:

Growing preference for the aesthetic quotient

High prevalence of seborrheic keratosis

Surge in the geriatric population

The prevalence of seborrheic keratosis is found to be the same worldwide. It occurs mostly among people with light skin tones. The condition is not life-threatening. However, the number of people opting for the treatment is increasing due to growing concerns over aesthetic appeal among men and women. The demand for better aesthetic appeal is increasing, with rising disposable income, advances in the healthcare sector, and globalization. As a result, the market size is expected to increase over the forecast period.

Major Trends:

Technological advances in cryotherapy

Emergence of non-invasive treatments

Use of laser therapy

Vendors offering cryotherapy equipment are integrating advanced technologies such as artificial intelligence (AI) and machine learning (ML) in their offerings. The use of these technologies has led to efficiency, cost reduction, and better performance. Such technological developments in cryotherapy equipment have improved the quality of treatment in areas such as oncology, including dermatological disorders such as seborrheic keratosis. These factors have resulted in the development of cryotherapy that provides effective treatment for seborrheic keratosis, which is positively influencing the market growth.

Key Challenges:

Lack of approved drug therapies

High cost of treatment

Challenges associated with misdiagnosis

The market has several invasive and non-invasive treatment options such as cryotherapy, electrocautery, and laser ablation to treat seborrheic keratosis. However, these treatment options might not work effectively for all patients with the same condition. It varies with the nature and consistency of the lesions of each patient. Besides, the market currently has only one approved drug, ESKATA. Also, there are no drugs in the pipeline for the treatment of seborrheic keratosis. The R&D is focused more on procedure-oriented therapies. Hence, the lack of availability of approved drugs will challenge the growth of the market.

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What are the key data covered in this seborrheic keratosis treatment market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the seborrheic keratosis treatment market between 2022 and 2026

Precise estimation of the size of the seborrheic keratosis treatment market and its contribution to the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the seborrheic keratosis treatment market industry across North America, Europe, Asia, and Rest of World (ROW)

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of seborrheic keratosis treatment market vendors

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Seborrheic Keratosis Treatment Market Scope

Report Coverage

Details

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 6.45%

Market growth 2022-2026

USD 786.38 million

Market structure

Fragmented

YoY growth 2021-2022 (%)

5.88

Regional analysis

North America, Europe, Asia, and Rest of World (ROW)

Performing market contribution

North America at 29%

Key countries

US, Canada, Germany, Japan, and China

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Aclaris Therapeutics Inc., BioLineRx Ltd., Brymill Cryogenic Systems, Cortex Technology, Cryo Innovations, CryoConcepts LP, Cryoswiss GmbH, Erbe Elektromedizin GmbH, H and O Equipments, and Special Medical Technology s.r.o

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

4 Five Forces Analysis

4.1 Five forces summary

4.2 Bargaining power of buyers

4.3 Bargaining power of suppliers

4.4 Threat of new entrants

4.5 Threat of substitutes

4.6 Threat of rivalry

4.7 Market condition

5 Market Segmentation by Application

5.1 Market segments

5.2 Comparison by Application

5.3 Cryotherapy - Market size and forecast 2021-2026

5.4 Electrocautery - Market size and forecast 2021-2026

5.5 Others - Market size and forecast 2021-2026

5.6 Market opportunity by Application

6 Customer Landscape

6.1 Customer landscape overview

7 Geographic Landscape

7.1 Geographic segmentation

7.2 Geographic comparison

7.3 North America - Market size and forecast 2021-2026

7.4 Europe - Market size and forecast 2021-2026

7.5 Asia - Market size and forecast 2021-2026

7.6 Rest of World (ROW) - Market size and forecast 2021-2026

7.7 US - Market size and forecast 2021-2026

7.8 Germany - Market size and forecast 2021-2026

7.9 Japan - Market size and forecast 2021-2026

7.10 Canada - Market size and forecast 2021-2026

7.11 China - Market size and forecast 2021-2026

7.12 Market opportunity by geography

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

9.3 Landscape disruption

9.4 Industry risks

10 Vendor Analysis

10.1 Vendors covered

10.2 Market positioning of vendors

10.3 Aclaris Therapeutics Inc.

10.4 BioLineRx Ltd.

10.5 Brymill Cryogenic Systems

10.6 Cortex Technology

10.7 Cryo Innovations

10.8 CryoConcepts LP

10.9 Cryoswiss GmbH

10.10 Erbe Elektromedizin GmbH

10.11 H and O Equipments

10.12 Special Medical Technology s.r.o

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

11.3 Currency conversion rates for US$

11.4 Research methodology

11.5 List of abbreviations

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