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The Scar Treatment Market Registered US$ XX Bn in 2019 and it is Estimated to Reach More Than US$40.8 Bn by 2028, Likely to Grow with a CAGR of 8.6 % During the Forecast Period.
The global scar treatment market has witnessed significant growth since last few years and is anticipated to grow rapidly in future. Some of the factors driving the growth of the global market include increasing consciousness regarding aesthetic appearance, increasing road accidents, and technological advancements.
Rising Number of Road Accidents Has Led to the Growth of the Scar Treatment Market
The rising number of road accidents is one of the major factors fueling the growth of global scares treatment market. According to the World Health Organization, almost 1.3 million people meet road accidents every year. These injuries can be treated with topical products. Also, the cosmetic surgeries and highly in demand to remove scars, which is expected to contribute to the growth of laser instruments.
Moreover, technological advancements in the area of dermatology are creating new opportunities for the global market. For instance, with the introduction of laser therapy, scar removal, acne removal which was difficult with medications. Owing to the busy lifestyle, consumers look for a quick fix for everything. Laser therapy takes lesser time for the treatment which is resulting in increasing popularity across the globe. However, the high cost associated with these instruments can hamper the laser instrument growth which might affect the global scar treatment market.
Topical Segment Dominates the Global Scar Treatment Market
On the basis of product type, the topical segment dominates the global market by holding a significant market share in 2019. The segment is anticipated to maintain its dominance throughout the forecast period. The dominance of the segment can be attributed to the easy availability of topical products such as topical gels, creams, and silicon sheets. This helps to enhance the usability of these products to cure scars.
On the other hand, laser treatment is projected to show impressive growth during the forecast period. The growth of the segment can be credited to the rising popularity of laser treatments for different types of treatment including stretch marks, acne, and keloid.
Atrophic Accounted for the Largest Share Global Scar Treatment Market
Based on scar type, the atrophic segment registered the highest market share in 2019. The atrophic scars can be treated easily with topical products which are commonly available of over-the-counter products. The treatment used for this kind of scars usually arouse the skin healing naturally and replace elastin, collagen, and other fibrous tissues.
Hospital Segment is Anticipated to Be the Dominant Segment in Global Scar Treatment Market
By end-user, the hospital segment dominates the global market. This is mainly due to the fact that anu treatment for scar removal is done in the hospital setting. Also, the increasing advancements in dermatology will support the growth of the hospital segment.
North America Dominates The Global Market, Holding 34.67 % Share In 2019
In terms of region, North America dominates the global market by holding the largest market share. Europe is the second-largest contributor in scar treatment market. The dominance of North America can be attributed to the early adoption of technology across the region.
Furthermore, in Europe, the U.K. is the largest market for scar treatment market. The growth of the U.K. is owing to the rising number of NHS (National Health Services) plastic surgery centres and units across the country. Additionally, under NHS services, plastic surgery for reconstructive purpose is free of cost which results in increasing popularity for these services among consumers and also contributes to the growth of the scar treatment market in Europe.
The Asia Pacific is projected to witness the highest growth rate over the forecast period. The growth of Asia Pacific is accredited to increase in income per capita and rising middle-class population in developing countries of the APAC region including India, China, Japan, and South Korea.
Continuous Research To Achieve Perfect Sensitivity Is The Strategy Adopted By The Players Present In This Market
The global Scar Treatment market is fragmented with several global and small players. The companies are engaged in strengthening their market position with strategies like geographical expansion, product launch, and investment in R&D activities, and expanding their sales and distribution channels.
Some of the prominent companies operating in global Scar Treatment market include Smith & Nephew plc, Suneva Medical, Inc, Merz, Inc., NewMedical Technology, Inc, Lumenis, Scarheal, Inc., Enaltus LLC, CCA Industries, Inc., Sonoma Pharmaceuticals, Inc., Cynosure, Inc., and Molnlycke Health Care.
Global Scar Treatment Market by Product
- Laser Products
- Pulse-dyed Laser
- CO2 Laser
- Topical Products
- Silicon Sheets
Global Scar Treatment Market by Scar Type
- Stretch Marks
- Hypertrophic and Keloid
Global Scar Treatment Market by End-User
- Retail Pharmacies
Global Scar Treatment Market by Region
- North America
- Latin America
- Asia Pacific
- Middle East & Africa