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Valued at $19.2 billion in 2017, the global scar treatment market is projected to generate $34.9 billion revenue by 2023, witnessing a CAGR of 10.5% during the forecast period (2018–2023).
Among all regions, the APAC scar treatment market is expected to witness the fastest growth, with a CAGR 12.1%, during the forecast period. Factors driving the growth of the market include growing focus on personal well-being, increasing disposable income, and rising prevalence of skin-related problems in the region. For instance, the World Health Organization (WHO) stated that approximately 1 million individuals in India suffer from moderate or severe burns, each year. These burns further lead to scar formation, thereby, propelling the demand for scar treatment in the country.
Dynamics of Scar Treatment Market
Increasing demand for silicone-based scar treatment is the key trend observed in the scar treatment market. The silicone-based products, such as gels and gel sheets, are widely recommended by dermatologists and cosmetic surgeons as these are effective in reducing scars. These products have been tested for the treatment of all type of scars, including stretch marks, hypertrophic, keloid, acne, and post-surgical scars. Moreover, the products are also helpful in reducing the marks and size of scars. Manufacturers, including Avocet Polymer Technologies Inc., Alliance Pharma plc, and Perrigo Company plc, offer silicone-based products for scar treatment.
Increasing prevalence of skin diseases and growing awareness among people for scar treatment are the key factors boosting the demand for scar treatment products, globally. Prevalence of dermatological diseases, such as psoriasis, vitiligo, and eczema, are on the rise, due to excessive exposure to ultraviolet radiation and pollution, resulting in reduced skin elasticity, hair loss, and sunburns. According to a study conducted by the American Burn Association (ABA) in 2015, a total of 2,745 deaths occurred from residential fire, 310 from vehicle-crash fire, and 220 from other fire incidences in the U.S. Therefore, occurrence of these skin conditions has led to the increasing demand for scar treatment products.
Scar Treatment Market Segmentation Analysis
The topical treatment of scar held the largest share, of 60.1%, in 2017 in the market, based on treatment type. This is ascribed to the low cost and wide availability of creams, gels, and oils, as compared to other treatment options for scars.
The post-surgical type of scar dominated the scar treatment market in 2017 and is expected to retain its dominance in the coming years as well, mainly on account of increasing number of surgical procedures.
The hospitals end-user category is likely to witness the fastest growth, progressing at a CAGR of 11.3%, during the forecast period. This is mainly due to the adoption of technologically advanced dermatological devices and increasing number of surgical procedures in hospitals.
Geographical Analysis of Scar Treatment Market
North America held the largest share, of 38.5%, in the scar treatment market in 2017. This is primarily attributable to the high disposable income, which further increases spending on personal care products, thereby, boosting the demand for scar treatment products in the region. According to the American Society for Aesthetic Plastic Surgery (ASAPS), the Americans spent more than $13.5 billion on cosmetic procedures, a total of 1,912,468 surgical procedures and 10,879,909 non-surgical procedures performed in the region, in 2015.
During the forecast period, the APAC scar treatment market is projected to witness the fastest growth, owing to the growing focus on personal well-being, increasing disposable income, and rising prevalence of skin-related problems in the region. Moreover, Japan was the largest contributor to the APAC market in 2017. This is mainly due to surging geriatric population, along with rapid economic development in the country.
Competitive Landscape of Scar Treatment Market
The scar treatment market is fragmented in nature, due to the presence of giant players as well as small players, which are extensively involved in manufacturing and commercialization of scar treatment products. These players include Syneron Medical Ltd., Beijing Toplaser Technology Company Limited, Avita Medical Limited, Mölnlycke Health Care AB, Shanghai Fosun Pharmaceutical (Group) Co. Ltd., Smith & Nephew plc, Merz Pharma GmbH & Co. KGaA, Sonoma Pharmaceuticals Inc., CCA Industries Inc., Scarguard Labs LLC, Quantum Health Inc., Bausch Health Companies Inc., and Pacific World Corporation.
Recent Strategic Developments of Scar Treatment Market Players
In recent years, major players operating in the global scar treatment market have actively engaged in mergers and acquisitions to gain a competitive edge. For instance, in March 2017, Hologic Inc. acquired Cynosure Inc., a medical aesthetic and technology company that develops and manufactures aesthetic treatment systems for various dermatological applications including scar treatment, to expand its business in the field of medical aesthetics.
Similarly, in March 2017, Valeant Pharmaceutical International Inc. announced the sale of its AcneFree, AMBI and CeraVe skincare brands to L’Oréal for $1.3 billion in cash. The transaction was intended to help the company to repay term loan debt under its senior credit facility.
Scar Treatment Market Size Breakdown by Segment
The scar treatment market report offers comprehensive market segmentation analysis along with market estimation for the period 2013–2023.
Based on Type of Treatment
Based on Type of Scar
Based on End User
Key Questions Addressed in the Report