Global Scar Treatment Market: Snapshot
Growing awareness among people regarding their appearance is a key factor fuelling growth of the scar treatment market. Presence of scars are impacting on day-to-day life of people suffering from the acne problem. Thus, demand for the scar treatment market is rising and likely to propel growth of the global scar treatment market. Additionally, acne scars are common problem in women which can make them uncomfortable and expected to boost demand for scar treatment products which is likely to propel growth of the global scar treatment market.
Rise in number of accidents such as burns and road accidents are leading to occurrence of some serious injuries. These injuries leaves scars on body which require surgical treatments. Hence, patients have undergone the treatments which provided topical products in order to reduce scars on the body. Additionally, cosmetic surgeries carried with laser instruments are used in the treatment of injuries from accidents. In order to reduce effects of the scars on daily life of the victim, the patients are adopting the plastic surgeries or resurfacing laser therapies.
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According to the report by TMR, the global scar treatment market was valued at around US$ 14,723.2 mn in 2017 and is expected to expand at a CAGR of around 8.2% from 2018 to 2026 to attain value of US$ 29,592.1 mn by the end of 2026.
High Prevalence of Scars to be Beneficial for Growth
On the basis of treatment type, the global scar treatment market is segmented into topical products, laser treatment, and injectables. Topical products type segment is classified in to creams, silicone sheets, gels, and others. Laser treatment type segment is classified in to pulsed dye laser, CO2 Lasers, and excimer laser. Of these, the topical products segment dominated the global market for scar treatment in 2017. This segment is expected to expand with impressive growth rate over the forecast period owing to the growing inclination toward combination drugs therapy.
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On the basis of scar type, the global scar treatment market is segmented into hypertrophic scars and keloids, atrophic & acne scars, contracture scars, and others. Among these, the atrophic & acne scars segment accounted for the larger share in 2017, in the overall market. Owing to, rise in number of people has suffering from acne issues such as rolling acnes and ice pick scars.
Growing Favorable Reimbursement Policies to Bolster Growth in Asia Pacific and Europe
On the basis of region, the global scar treatment market is segmented into North America, Europe, Latin America, Asia Pacific, and Rest of the World. Of these, North America is dominating the global market for scar treatment and is expected to remain dominant by the end of 2026. This growth of North America is attributed to high awareness, availability of innovative technologies and growing penetration of healthcare across the region. However, the market in Asia Pacific is expected to expand with a rapid CAGR owing to growing demand for the treatment in the developing countries such as China and Japan.
Key players operating in the scar treatment market include Valeant Pharmaceuticals International, Inc., Pacific World Corporation, Sonoma Pharmaceuticals, and Merz Pharma, Sientra, Inc.
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