Scar Treatment Market key driving factors Analysis Report By 2025
Global Scar Treatment Market is foretold to provide a robust support for industry players to lay a solid foundation for their business growth. It includes a comprehensive evaluation of the industry growth status and risk. In addition, it provides detail market variables, trends, key opportunities, new entrants & competitors.
Scar Treatment Market study offers detail overview of industry with all the requisite data to support tactical business decisions and come up with strategic growth plans. This study also proposes a comprehensive insight into the development policies and plans in addition to manufacturing processes and cost structures.
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The global scar treatment market size was worth USD 13.8 billion in 2015 which is anticipated to grow at a CAGR of more than 9.7% during the forecast period. Esthetic appearance among people is one of the major factors driving market growth. Scar treatment helps enhance the esthetic appeal of an individual through skin rejuvenating. Women are more concerned about esthetics, hence are expected to form the largest customer base for this market.
Another major factor contributing to the growth of this market is the rising number of road accidents. According to WHO, approximately 10 million people are injured in road accidents every year. This gives rise to high need for scar treatment products, such as topical products that help in reducing the scars effectively. Road accidents also increase the need for cosmetic surgical treatments, which in turn leads to high demand for laser instruments.
Rising incidence of burn injuries also supports the growth of this market. Burn injuries contort the appearance of the victim, leaving noticeable hypertrophic burn marks. People with high disposable income, often go for surgical treatment to get rid of such marks. Thus, scar removal products help in treating burn injuries.
Technological advancement, such as laser therapy is also accelerating the growth of this market. For instance, Cynosure came up with MedLite C6, a Q-switched laser device, which is used for treating acne and other skin diseases. These laser devices help in treating the marks by destroying the scar tissue. Reconstructive and plastic surgery is also considered as a part of the surgical laser treatment procedure, which has further expanded the market growth.
End Use Insights
Based on end-use, the market is segmented into clinics, hospitals, e-commerce, and retail pharmacies. Among them, hospitals dominated the market in 2015. This is due to the wide usage of laser instruments, steroid injections and topical creams and gels in the hospital settings. Availability of specialists in the hospital also contributes to the growth of this segment.
E-commerce/retail pharmacies are expected to witness lucrative growth over the forecast period. Online websites provide a wide variety of scar treatment products such as steroid injections, topical creams & gels and portable laser instruments. It also offers numerous lucrative offers and discounted prices, which further raises the growth of this segment. In retail pharmacies, topical products are available easily, which facilitates easy accessibility of scar treatment products.
Based on region, North America held the largest market share in 2015. This is due to the growing acceptability of technologically advanced products and high concern among people regarding esthetic appeal. Huge demand for advanced laser instruments in the U.S. also drives the growth of this region.
Asia Pacific is expected to witness a lucrative CAGR over the forecast period due to the rising incidence of road accidents in country like India. In addition, rising disposable income in these countries is also anticipated to contribute to the growth of this region.
Some of the major companies of the market are Lumenis; Mölnlycke Health Care; NewMedical Technology, Inc.; Sonoma Pharmaceuticals, Inc; Smith & Nephew plc; CCA Industries Inc.; Suneva Medical, Inc.; Enaltus LLC; Merz Inc. and Scarheal, Inc.
The key companies go for strategic initiatives such as regional expansion, development of new products with improvised technology and mergers & acquisitions. For instance, Lumenis acquired Pollogen in 2015, in order to expand its product portfolio in the field of esthetics.
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