Asia-Pacific Scar Treatment Market Overview
The Asia-Pacific scar treatment market size was valued at $4,538.0 million in 2016, which is forecasted to reach $8,973.1 million by 2023, growing at a CAGR of 12.1% during the 2018-2023.Among the various types of scar treatments, topical scar treatment is expected to lead the scar treatment market in the region, followed by surface, laser, injectable, and surgical treatment. Increasing focus on personal well-being, rising awareness about scar treatments and growing availability of non-invasive and less expensive topical scar treatment products are expected to be the drive the demand for topical scar treatment products.
Hospitals is expected be the fastest growing end-user category in the regional market during the forecast period, mainly due to increasing healthcare expenditures by government and improving healthcare infrastructure. Home-use and dermatology clinics are the other end users in the market
The Asia-Pacific scar treatment market is expected to grow at a faster rate as compared to other regions, due to increasing focus of general population on personal well-being, rising disposable income and growing prevalence of skin related problems such as burns, wounds and increasing number of cosmetic procedures performed in the region. According to the WHO, approximately 1,000,000 people suffer from moderate or severe burns, every year. These burn cases may lead to scar formation, leading to increased demand for scar treatment products in the region. According to the International Society of Aesthetic Plastic Surgery (ISAPS), the cosmetic surgeries performed in countries such as South Korea and India, are increasing at a rapid rate. In 2015, total surgical procedures performed in South Korea was 445,144, and in India, the number stood at 420,454.
The growing awareness about various scar treatments available is driving the market demand in the region. Also, the growing adoption of the OTC scar treatment products, which are priced below the prescription drugs is another factor boosting the demand for scar treatment products in Asia-pacific. Additionally, the presence of advanced laser treatments and surgeries also enables the treatment of all types of scars in comparatively lesser time. The high cost of scar treatment products is the major factor hindering the growth of the market in the region.
Asia-Pacific Scar Treatment – Competitive Landscape
Sirnaomics, Inc.’s subsidiary company, Suzhou Sirnaomics Pharmaceuticals, Co. Ltd, is developing siRNA (small interfering RNA) therapeutic, STP705, for the treatment of hypertrophic scar. In May 2017, the company received an approval from China Food and Drug Administration (CFDA) for an Investigational New Drug Application (IND) of STP705 (Cotsiranib), through a chemo-drug category 1.1 application based on CFDA requirement. The approval was the first in the country allowing innovative siRNA therapeutics to enter clinical study, with the IND filed from a domestic company. Furthermore, Essex Bio-Technology Limited is focusing on regenerative medicines for wound healing, accelerated healing and scar reduction. The company is trying to leverage the shift from therapeutic drugs to increased use of regenerative medicines that are developed from patients’ own stem cells, other to provide better outcomes.
A. Menarini Asia-Pacific Holdings Pte. Ltd. offers Dermatix Ultra, a scar formula that uses the innovative CPX (cyclopentasiloxane) technology for improved effects in flattening and softening scars and holds Vitamin C providing photoprotection and skin lightening. With companies using innovative technologies for scar treatments, the demand for advanced scar treatment products is likely to increase during the forecast period.
The key players operating in the Asia-Pacific scar treatment market include Shanghai Fosun Pharmaceutical (Group) Company Limited, Beijing Toplaser Technology Company Limited, Sirnaomics, Inc., Essex Bio-Technology Limited, A. Menarini Asia-Pacific Holdings Pte. Ltd, Shiseido Company Limited, Concord Medisys Pvt. Ltd, Seoulin Bioscience Co. Ltd., Hanson Medical Inc., Otsuka Pharmaceutical Co., Ltd.