NEW YORK, June 26, 2019 (GLOBE NEWSWIRE) -- The global scar treatment market is predicted to grow at 11.9% CAGR during the forecast period with the market size reaching USD 37.6 billion by 2024. The market is driven by the factors such as mounting occurrence of skin diseases such as vitiligo, psoriasis, eczema, and photoaging of the skin, escalating healthcare expenditure, expanding awareness about scar treatment, the mounting number of surgical procedures and escalating appearance consciousness among consumers.
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Increasing number of skin diseases is the key factor leading to the growth of the global scar treatment market
The market for scar treatment is primarily driven by the increasing number of skin diseases and escalating appearance consciousness among consumers. With the increasing occurrence of skin diseases such as vitiligo, psoriasis, eczema, and photoaging of skin and burn cases has resulted in the scar which requires surgical treatment which further increased the demand for scar treatment. This offers market players immense opportunities for clinical trials, which will drive their revenue growth.
Explore key industry insights in 119 tables and 71 figures from the 153 pages of report, “Global Scar Treatment Market Analysis and Forecast to 2024 - Industry Insights by Product (Surface (Chemical Peeling, Cryosurgery, and Dermabrasion), Laser (CO2 Laser, Pulsed-Dye Laser, Erbium: YAG Laser, and Others), Topical (Oil, Gel, Cream, Gel Sheet and Others), and Injectable (Dermal Filler and Steroid Injection)), and by Type of Scar (Acne Scar, Post-Surgical Scar, Stretch Mark, Contracture Scar, and Keloid and Hypertrophic Scar), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Japan, China, India, Australia, South Korea, Brazil, Saudi Arabia, U.A.E., South Africa)”
Topical products are majorly being used for the scar treatment
Based on the product, the scar treatment market is categorized into surface, laser, topical, and injectable of which topical hold the largest share in the scar treatment market, globally, and led to the fastest growth of the topical segment during the historical period, which is also predicted to continue during the forecast period owing to greater acceptance of creams and gels for healing scars, such as burns, acne, and surgical marks, easy availability, cost-effectiveness, fewer side-effects, and easy application.
The surface segment is further subdivided into chemical peeling, cryosurgery, and dermabrasion. Among the all the surfaces, dermabrasion segment accounted the largest share and is expected to grow at the fastest rate in the market. Moreover, the laser segment is further subdivided into the CO2 laser, pulsed-dye laser, Erbium: YAG laser, and others. Among all the lasers, the CO2 laser segment accounted the largest share in the market.
In addition, the topical segment is further subdivided into oil, gel, cream, gel sheet, and others. Among the topical, the cream category holds the largest share in the market. The gel sheet segment is expected to grow at the fastest rate in the market. The injectable segment is further subdivided into the dermal filler and steroid injection. Among both injectables, the derma filler segment accounted the larger share and is expected to grow at a faster rate in the market during the forecast period.
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On the basis of the type of scar, the scar treatment market is segmented into acne scar, contracture scar, post-surgical scar, stretch mark, and keloid and hypertrophic scar. Of all, the keloid and hypertrophic scar category are predicted to witness the highest growth during the forecast period due to an escalating number of burn cases. Moreover, of all type of scar, post-surgical scar category accounted the largest share in the scar treatment market due to a mounting number of surgeries and an increasing number of road accidents.
Asia-Pacific scar treatment market to grow at the fastest CAGR during the forecast period during the forecast period
Asia-Pacific is observed to witness the fastest growth in the scar treatment market, owing to escalating awareness regarding scar treatment and favorable reimbursement policies. Mounting healthcare expenditure, large population base, improving healthcare expenditure, and mounting occurrence of skin diseases are some of the factors fuelling the growth of the Asia-Pacific scar treatment market.
North America accounted for the major share in the scar treatment industry in 2017, globally as the players in the region are continuously investing spends in research and development of innovative products. In addition, escalating disposable income, the mounting occurrence of skin diseases, and technological advancement in scar treatment products are some of the factors facilitating the growth of the North American scar treatment market.
Development of advanced laser systems for scar treatment is the key trend witnessed in the industry
Key players in the scar treatment market are investing in the development of technologically advanced laser systems for scar treatment, which is strengthening their position in the market. Hologic Inc., Sonoma Pharmaceuticals Inc., Avita Medical Limited, Smith & Nephew Plc, Scarguard Labs LLC, Mölnlycke Health Care AB., Bausch Health, Merz Pharma GmbH & Co. KGaA and Johnson & Johnson are some of the key players operating in the scar treatment industry.
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