PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498740
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1498740
Scar Treatment Market size was valued at USD 14,815.2 Million in 2023, expanding at a CAGR of 14.20% from 2024 to 2032.
Once an injury has healed, scarring is a normal component of the process. The size, depth, and location of the wound or cut, as well as age, genetics, sex, and ethnicity, all affect how it looks and how it is treated. More women than men seek therapy for scars because they are more concerned about appearance. Growing demands for total skin rejuvenation and enhanced esthetic appeal in people are the primary factors propelling the growth of the scar treatment industry. Globally, there is a growing need for cosmetic operations as a result of an increase in burn injuries and traffic accidents.
Scar Treatment Market- Market Dynamics
Growing Customer Awareness of Beauty to Propel Market Growth
Consumer awareness of beauty is one of the main factors propelling the growth of the global scar treatment market. As being accepted in social settings and the workplace has become dependent on one's physical appearance, individuals are becoming more conscious of this. Consequently, a growing number of people are using beautifying techniques to enhance their physical attractiveness. In addition, a growing number of affluent nations have dual-income households, thus augmenting their purchasing power. Furthermore, in industrialized nations, the cost of cosmetic surgery is coming down. It is, therefore, having a favorable effect on market expansion. Therefore, during the projected time, these factors are anticipated to propel the expansion of the worldwide scar treatment market.
Scar Treatment Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 14.20% over the forecast period (2024-2032)
Based on product segmentation, the atrophic scars category was predicted to show maximum market share in the year 2023
Based on end-use segmentation, the homecare category was the leading type in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Scar Treatment Market is segmented on the basis of Product, Scar Type, End-use, and Region.
The market is divided into two categories based on scar type: Atrophic Scars, Hypertrophic & Keloid Scars, Contracture Scars, and Stretch Marks. The atrophic scars category dominates the market because scarring from acne is becoming more common. These scars are often treated with topical creams and gels. Because they are more common in those who have wound injuries, keloid and hypertrophic scars are predicted to increase dramatically throughout the forecast period. Atrophic scars are frequently brought on by the body losing fat and muscle over an injured location. When the skin does not manufacture enough collagen to heal the infection site, atrophic scars develop. This kind of scar resembles a pit and is usually brought on by surgery, chickenpox, acne, and staphylococcus infections.
The market is divided into the following categories based on end-use: Hospitals, Clinics, and Homecare. The homecare category dominates the market and is likely to maintain its dominance during the forecast period because these environments employ highly developed infrastructure and have access to cutting-edge scar treatment products. Because scar treatment goods are easily accessed on websites that are growing quickly, the retail pharmacies and e-commerce category are expected to increase at the fastest rate over the projection period. These online stores are frequently used to purchase over-the-counter (OTC) products without a doctor's prescription. Additionally, consumers frequently purchase goods online in order to take advantage of deals and several offers.
Scar Treatment Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for scar treatment due to people's strong aesthetic sensibility and the quick uptake of cutting-edge products. In the US, there is a great demand for sophisticated laser scar therapy equipment. The United States had the biggest market share in North America in 2022. There are 486,000 burn cases annually, according to the American Burn Association (ABA). Additionally, government reimbursement policies in the United States include scar treatment for burn injuries. Acne scar therapy could not be covered unless a medical provider issues a Letter of Medical Necessity. A further significant factor propelling the US industry is patients' rising healthcare expenses.
In addition, the scar treatment market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific. The scar treatment industry is experiencing a lucrative demand due to factors like the rising number of road accidents, primarily in countries like China, India, and Afghanistan, as well as growing spending by leading players for scar treatment development. In addition, women's preferences for aesthetic appeal have grown dramatically in tandem with the rise in skin conditions and burn injuries. Consequently, these elements are supporting market expansion throughout the Asia Pacific region. The market expansion in Asia Pacific is also being fueled by rising government spending on healthcare sector development as well as increased awareness of the availability of cutting-edge treatments.
The major players, such as Smith & Nephew PLC, Merz Pharmaceuticals, LLC, Lumenis, and Sonoma Pharmaceuticals, Inc, among others, in the scar treatment industry, are actively involved in a number of tactical campaigns to preserve and grow their market share. Among these projects are research and development (R&D) projects aimed at introducing novel scar therapy products and technology, like regenerative medicine techniques and sophisticated laser therapies. Major businesses are also emphasizing regional expansion by going after emerging economies where there is a growing need for scar treatment treatments. Increasing customer awareness of the advantages of scar therapy through marketing and promotional initiatives is also a top priority. In order to improve the accessibility of scar treatments, alliances and partnerships are also being formed with clinics and healthcare providers.
June 2022: Scientists at the University of Arizona College of Medicine in Tucson have included medication in traditional wound treatments in an effort to decrease excessive scarring and encourage healthy tissue regeneration.
May 2022: World-renowned burns specialist Professor Fiona Wood is leading a team at Perth's Fiona Stanley Hospital and, in collaboration with Pharmaxis, an Australian clinical research company, on a world-first clinical trial of a novel product that may prevent or lessen severely disabling scars that form following trauma, especially burn injuries.
GLOBAL SCAR TREATMENT MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Smith & Nephew PLC
Suneva Medical
Sonoma Pharmaceuticals, Inc.
Lumenis
Enaltus LLC
Cynosure
CCA Industries, Inc.
Newmedical Technology Inc.
Pacific World Corporation
Molnlycke Health Care AB
Merz Pharmaceuticals, LLC
Scar Heal Inc.
Perrigo Company plc
Others