According to the latest report published by Credence Research, Inc. “Scar Treatment Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global scar treatment market was valued at US$ 15.3 Bn in 2016, and is expected to reach US$ 35.0 Bn by 2025, expanding at a CAGR of 9.5% from 2017 to 2025.
Formation of scar is a typical reaction following any damage or surgery; it is the way the body mends harmed structures. Scar tissue may include just the shallow skin, or it might include the more profound tissues underneath the skin, including nerves and ligaments. The treatment of scar varies accordingly the type and depth of any scar. As per the data obtained from The American Board of Plastic Surgery, in 2016 181,000 procedures were performed only in U.S. which was increased by 1% from 2015.
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Increasing incidences of skin disorder due to environmental pollution, radiation is the major driver of the scar treatment market. According to some research study, acne is evaluated to influence around 9.4% of the worldwide population, making it the eighth most common disease around the world. This rising trend of acne due to hormonal imbalance, inappropriate food-habits, and excessive stress positively influence scar treatment market to grow. The increasing adoption of technologically advanced procedures and products, healthcare expenditure for R&D to manufacture newer and innovative products, government approval on medical products, on rising awareness in public to improve physical appearance boost up the growth of scar treatment market. However, the expensive treatment procedures and side effects caused by few treatment procedures are few major challenges associated with the scar treatment market.
The scar treatment market is segmented on the basis of type of scars such as hypertrophic scars, keloid scars, atrophic scars and contractures. Among all the scar types, the atrophic scar is expected to dominate the scar treatment market due to increasing prevalence of acne. On the basis of treatment type the scar treatment market is segmented as surgical treatment, laser treatment, cosmetic treatment, injectable treatment and topical medication. The topical medication holds the major market share whereas laser treatment market is growing and anticipated to face significant growth in forecast period driven by its higher adoption rate and effective treatment procedures.
Based on the end-user types, the scar treatment market can be categorized into hospital, private clinics, drug store or retails store and e-commerce. Hospital segment although dominates the scar treatment market, but private clinic is anticipated to witness significant growth due to rising adoption rate of cosmetic procedure and laser treatment. The e-commerce and retail drug store will also face exponential growth due to high discounts and easy availability.
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Geographically, in the year 2016, North America held the major share of scar treatment market followed by Europe. Increasing consciousness about public appearance, adoption of innovative products, increasing expenditure of healthcare to manufacture newer products, rising skin problems drive the market. On the other side, the Asia-Pacific region is assumed to face lucrative growth due to developing healthcare infrastructure and increasing public awareness about health. Asia-Pacific, being the polluted region, there is sharp growth in number of people affected by skin disorders which in turn driving the growth of scar treatment market.
Market Competition Assessment:
The scar treatment market comprises of numerous companies having their products marketed. However, most of the companies are located in the North America and others developed regions. The companies have untapped opportunities in the developing regions of Asia Pacific and Latin America. Companies are coming up with various products in the developed nations due to high acceptance and accessibilities of these products. The companies include Smith & Nephew plc., Lumenis, Sonoma Pharmaceuticals, Inc., Scarheal Inc., CCA Industries, Inc., Cynosure, Inc., Syneron Medical Ltd., Mölnlycke Health Care AB, Beijing Toplaser Technology Company Ltd., Merz GMBH & Co KGAA, Valeant Pharmaceuticals International Inc., Quantum Health, Hologic Inc. and others.
Key Market Movements:
The increasing incidence of skin problem, growing number of surgical procedures, rising adoption of technologically advanced procedures and products, growing healthcare expenditure for R&D to manufacture newer and innovative products, government approval on medical products, rising awareness in public to improve physical appearance are few major drivers of scar treatment market.
High cost of treatment and adverse effects caused by scar treatment procedures pose some challenges on the growth of scar treatment market.
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