China, South Korea, Taiwan, Hong Kong, and Southeast Asia Topical Scar Treatment Market To Generate Revenue Worth $1,451.1 Million in 2030

  • Published: May 2021

The high incidence of burns, rising number of road accidents, and growing prevalence of skin diseases, all of which often lead to scars, are the major growth drivers for the China, South Korea, Taiwan, Hong Kong, and Southeast Asia (SEA) topical scar treatment market. Other factors that help in raising the sales of these topical products are the surging geriatric population and increasing disposable income. Due to the aforementioned factors, the industry is projected to generate $1,451.1 million revenue in 2030, advancing at a CAGR of 7.7% during the forecast period (2021–2030).

In the beginning of 2020, due to COVID-19, manufacturing facilities of topical scar treatment industry players were partially closed due to lockdowns. Moreover, there has been a reduced demand for scar treatment products owing to these lockdowns and strict government regulations, which have forced people to stay inside their homes. This has also brought down the incidence of road accidents, burns, sports injuries, and post-surgical complications, one of which is scarring. Thus, there has been a strong negative impact of the pandemic on the sale of topical scar treatment products.

Creams Witness Highest Demand among All Topical Scar Treatment Products

The topical scar treatment market in China, South Korea, Taiwan, Hong Kong, and SEA is categorized into cream, gel, oil, gel sheet, and others, on the basis of product type. Among these, the cream category dominated the market during the historical period (2015–2020), and it is expected to retain its dominance during the forecast period. This would be mainly due to the ability of creams to flatten and reduce the appearance of both old and new scars and prevent the formation of new scars.

Moreover, the topical scar treatment market is categorized into atrophic and acne scar, keloid and hypertrophic scar, contracture scar, and stretch mark, on the basis of scar type. Out of these, the atrophic and acne scar category is expected to witness the fastest growth during the forecast period. This will be primarily due to the high prevalence of these scars in adolescents as a result of the hormonal changes in their bodies and their unhealthy eating habits.

China is forecasted to generate largest revenue in topical scar treatment market in Asian countries. This is mainly attributed to the rising demand for these products among the rising geriatric population and availability of technologically advanced scar treatment products here.

Product Launches Are Most-Effective Strategic Measures Taken by Players in Market

Players in the China, South Korea, Taiwan, Hong Kong, and SEA topical scar treatment market are frequently launching products to gain a significant position. For instance, in January 2021, Amorepacific Corporation unveiled a skincare brand, Soluderm, which is made up of two items: a vital collagen ampoule and an inner full collagen ampoule. This brand is designed for women in their 30s and 40s who want effective skincare at home, without having to go to a dermatology clinic every time.

Similarly, in July 2019, Menarini Singapore Pte. Ltd. launched its new acne scar care product, Dermatix acne scar, which repairs acne scars through exfoliation. It contains vitamin B3, alpha hydroxy acids (AHAs), and antioxidants, which target specific acne after-effects, including scars and dark spots.

Major players operating in the China, South Korea, Taiwan, Hong Kong, and SEA topical scar treatment market are Perrigo Company plc, Laboratoire HRA Pharma SAS, Terez & Honor, Sientra Inc. , Aroamas LLC, Integra LifeSciences Holdings Corporation, Revitol Corporation, Sonoma Pharmaceuticals Inc., Smith & Nephew PLC, Mölnlycke Health Care AB, Mylan N.V., Merz Pharma GmbH & Co. KGaA, Alliance Pharma plc, Cicatricure (Genomma Lab USA Inc.), and Johnson & Johnson.