PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1463813
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1463813
Key Highlights
The scar treatment market generated a value of USD 23.8 billion in 2023, which will rise to USD 52.8 billion, advancing at over 12.0% CAGR, by 2030.
The rising consciousness regarding scar management, increasing interest of people in having flawless skin, surging need for cosmetic procedures, and evolving medical technology are aiding the industry expansion.
Individuals with long-term disfigurement due to burns, accidents, surgery, or other reasons are searching for effective means to improve their appearance.
The development of different therapies that decrease the scar's visibility and improve the overall skin texture has been enabled by the improvements in medical technology.
The improved cosmetic measures now accessible comprise lasers, chemical peels, microdermabrasion, and dermabrasion.
These advancements have made it possible to offer less intrusive as well as more effective choices to individuals for improving their aesthetics.
There has been an increasing acceptance of scar revision solutions because of the rising consciousness about the different options of treatment accessible.
The public has profited from the information provided by plastic surgeons, skincare experts, and dermatologists about the benefits of under-trial and current skin treatments.
With the arrival of elective surgeries and medical tourism, the count of surgical measures is increasing at a significant pace. This means that now, more potential patients are searching for post-surgery scar treatment.
Market Insights
North America was the largest contributor to the industry in 2023, with a share of approximately 37.8%.
The high disposable salary in North America, which results in a rise in the expenses on personal care products, is a major contributor to the dominance of the regional industry.
In 2023, the U.S. was the largest contributor to the industry in North America, and it is likely to advance at a faster compound annual growth rate during this decade.
The laser category will advance at the highest rate, of 12.7%, during this decade. This will be because laser treatments are more advanced than the currently accessible topical therapies.
Atrophic and acne scars accounted for the largest share of the industry in 2023, with a 40.1% share, and it will remain the largest throughout this decade.
Acne is among of the most common dermatological conditions globally, particularly among adolescents.
Acne occurs because of the clogging of the hair follicles in the skin with sebum, dirt, oil, dead skin cells, and various other impurities, which leads to lesions formation.
Approximately 9.4% of the global population suffers from acne, making it the 8th most prevalent illness in the world.
The keloid and hypertrophic scar category will propel at the fastest CAGR in the years to come. This will be because of the rising volume of surgeries, coupled with the incidence of burn injuries as well as traumatic wounds.
The scar treatment industry is moderately fragmented with the existence of some local players. Players in this industry are trying to enhance their presence by implementing strategies like mergers & acquisitions, partnerships, and investments.
The industry players are also concentrating on sustaining competitive pricing and investing in developing greater and more effective products.