Seborrheic Keratosis is a non-cancerous skin condition that is common in older adults. Skin growths on shoulders, back, abdomen, scalp, face, and chest may appear when suffering from the disease. The global Seborrheic Keratosis market is projected to post a splendid CAGR of 9.8% over the forecast period of 2017-2023, asserts Market Research Future in an extensive study. Elevating consumer inclination towards aesthetics and growing awareness regarding physical appearance urge people to opt for the treatment of Seborrheic keratosis. Seborrheic keratosis can be easily treated with Cryosurgery where liquid nitrogen is used to prevent further growth. Also, in recent years, surgeries involving cosmetic procedures have entered the mainstream which spurs the growth of the market.
Notable improvements in treatment methods and the availability of diverse treatment options have contributed to the growth of the market. Other driving factors include extensive R&D efforts, surging prevalence of the disease, improving reimbursement scenario and availability of cost-effective treatment options. Conversely, the growth of the global Seborrheic Keratosis market might be hampered by post-surgery side effects, high costs associated with treatment which might limit market growth in price-sensitive and developing regions.
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The global Seborrheic keratosis market has been segmented based on type, diagnosis, treatment, and end user.
By type, the global Seborrheic keratosis market has been segmented into stucco keratosis, inverted follicular keratosis, reticulated Seborrheic keratosis or adenoid seborrheic keratosis, clonal seborrheic keratosis, seborrheic keratosis with squamous atypia, melanoacanthoma, dermatosis papulosa nigra, seborrheic keratosis, and irritated seborrheic keratosis.
By treatment, the global seborrheic keratosis market has been segmented into surgical procedures, medication, medical procedures, and others. The surgical procedures segment has been further segmented into cryosurgery, electrocautery or electrosurgery, curettage, and others. The medical procedures segment has been further segmented into freezing, tissue scraping, laser therapy, and others.
By end user, the global the global seborrheic keratosis market has been segmented into hospital, clinics, diagnostic centers, pharmacies, and others.
The Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA) are the key markets for seborrheic keratosis. The Americas dominate the global seborrheic keratosis market on account of surging awareness regarding the condition among the consumers and high expenditure on healthcare. The prevalence of seborrheic keratosis is also considerably high in the region which generates high demand for diagnosis and treatment. As per a report published in the Journal of Drugs in Dermatology in 2015, seborrheic keratosis affects more than 83 Mn Americans.
Europe commands the second largest position in the global seborrheic keratosis market. government support in the form of funding for R&D, the presence of private organizations who are engaged in extensive R&D and favorable reimbursement policies in the region drive the growth of the Europe Seborrheic keratosis market.
APAC is projected to be the fastest growing market for Seborrheic Keratosis. Presence of a vast patient pool, development of healthcare technology and the growing participation of market players in the region are stimulating the growth of the APAC market.
The MEA market is expected to account for the least share of the global market due to lack of medical facilities and affordability in the region. Moreover, the lack of awareness about the condition is also a market deterrent.
The notable players in the global Seborrheic keratosis market include Quantumpm, Becton Dickinson and Company, Quanta Systems S.p.A., Aclaris Therapeutics, THOR Photomedicine, Syneron Medical Ltd., Cutera, Angiodynamics, Inc., Erchonia Corporation, Valeant, Lumenis, BioLight Technologies LLC, Alma Lasers, KAI Medical, IRIDEX Corp., Integra Miltex, Coherent, Inc., Apira Science Inc., Biolase Inc., and Theralase Inc.
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