According to a revised report published by Persistence Market Research, the global scar treatment market valued at US$ 16.7 Bn in 2020, and is predicted to expand at a CAGR of around 3.4% over the forecast period (2021–2031).
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Scar treatment has been a rapid-growing industry, mainly due to increasing awareness regarding physical appearance. Rising occurrences of skin diseases, together with increasing awareness regarding different scar treatments, represent major factors boosting market growth.
Moreover, rise in the number of road accidents across the world is leading to increased number of surgeries, which later require scar treatment, where topical products are popular. Also, there has been a rise in cosmetic surgical treatments performed using laser devices for the treatment of serious marks caused due to road accidents. To get rid of post-burn marks plastic surgeries are relied upon.
Leading pharmaceutical companies are focusing on expanding their product scope across various distribution and countries around the world. To improve their industrial research activities, some companies are concentrating on collaborating directly with academic institutions.
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Topical Scar Products to Gain Popularity in the Global Scar Treatment Market
On the basis of product type, topical scar products including creams, gels, sheets, and oils are likely to be used on a large scale by customers. By the end of 2025, topical scar product is estimated to bring in more than US$ 7,600 Million in terms of revenue.
Based on the application, scar treatment is expected to be used widely to treat atrophic scars which include scars caused by acne, and trauma and surgery. Atrophic scars are projected to reach close to US$ 6,700 Million revenue towards the end of the forecast period.
By end users, hospitals are anticipated to emerge as the largest users of scar treatments. Hospitals as end users are projected to surpass US$ 4,800 Million revenue by 2025 end.
North America to Lead the Global Market for Scar Treatment During 2017-2025
Geographically, North America is likely to emerge as the leading region in the global scar treatment market between 2017 and 2025. Towards 2025 end, North America is projected to exceed US$ 4,700 Million revenue. Increasing number of trauma cases and burn-related surgeries in the U.S. is driving the market for scar treatment in the region. Also, the number of surgeries performed in the country are increasing on yearly basis. Hence, new treatments are being introduced in the region to treat various types of scars.
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Competitive Landscape
Pacific World Corporation, Merz Inc., Smith & Nephew PLC, Enaltus LLC, CCA Industries Inc., Avita Medical Limited, Cynosure Inc., Lumenis, Nutramarks Inc., Syneron Medical Ltd., Valeant Pharmaceuticals International Inc., Shanghai Fosun Pharmaceuticals Ltd. (AC. Alma Lasers), and Mölnlycke Health Care are some of the major players in the global scar treatment market.
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