Scar Treatment Market analysis report by Future Market Insights shows that global sales of the Scar Treatment Market in 2021 were held at USD 13 Billion. With a CAGR of 13.6% from 2022 to 2032, the market is projected to cross USD 52 Billion by 2032. Market through Hospitals is expected to gross the highest revenue and is projected to grow at a CAGR of over 15% from 2022 to 2032.
| Attribute | Details |
|---|---|
| Global Scar Treatment Market (2022) | USD 14.6 Billion |
| Global Scar Treatment Market (2032) | USD 52.2 Billion |
| Global Scar Treatment Market CAGR (2022 to 2032) | 13.6% |
| USA Scar Treatment Market (2022 to 2032) | 13.8% |
| Key Companies Profiled | Smith & Nephew PLC; Lumenis; Merz Pharmaceuticals LLC; Sonoma Pharmaceuticals Inc; Cynosure; Avita Medical Limited; HRA Pharma; Beijing Toplaser Technology Company Limited; Pacific World Corporation |
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As per the Scar Treatment Market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market increased at around 11.9% CAGR.
Based on products, the scar treatment industry is rapidly being affected by topical products such as creams, gels, silicon sheets, and other topical products. This particular segment is expected to expand at a CAGR of 14.2% through 2032.
The treatment of scars often entails the application of topical creams, gels, and creams that are widely accessible in different medical stores. The scar therapy stimulates the skin's natural healing process by replacing collagen, elastin, and other fiber components. This allows the cured wounded surface to expand around the surrounding area. Because most such scars are the consequence of pimples, the usage of these creams reduces the appearance of the scars. As the desire for aesthetic appeal grows, so does the market for such topical medications to treat papyraceous scars.
The major impact contributing to the increasing need for scar treatment solutions is the increasing frequency of vehicle accidents. According to the Population Reference Bureau (PRB), approximately 50 million people are injured in traffic accidents every year, frequently resulting in scarring that necessitates surgical treatment. Furthermore, individuals who have such operations have surgery scars and are given topical medications to enhance and minimize their look. As a result, the increasing prevalence of traffic accidents, along with the growing number of aesthetic procedures, is projected to drive the demand for topical scar therapy solutions.
Additionally, some other factors such as the increased prevalence of skin illnesses like eczema, teratoma, photoaging, and vitiligo among the world's senior population, organically grown product introductions in the market, as well as strong promotional activities by service providers together with rising public knowledge about skin health, drives the market expansion.
The increased aesthetic sensibility of the global population has resulted in the widespread use of skin treatments. Furthermore, improved access to dermatological facilities, as well as the advent of treatments combining both pharmaceutical and natural substances, are increasing the overall need for this service. Dermatological clinics provide accurate and cutting-edge technical treatments for cosmetic surgery that provide significant results while causing the patient the least discomfort.
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As the industry consolidates, key businesses are focusing on mergers and takeovers to explore the potential in this field. For example, in January 2021, Smith & Nephew PLC, the worldwide medical technology company, announced the completion of its takeover of the Extremity Orthopaedics unit of Integra Life Sciences Holdings Corporation for USD 240 million. On the other hand, leading players are also focusing on improving their commercialization activities by adhering to administrative requirements.
During the projected period, North America is expected to hold the largest share in the global Scar Treatment Market with a projected market valuation of over USD 16 Billion by 2032. The roadways in the United States are among the most congested in the world. According to the Centers for Disease Control (CDC), around three million people in the United States are wounded in vehicle accidents each year. Furthermore, the National Highway Traffic Safety Administration (NHTSA) estimates that 5 to 6 million vehicle accidents occur in the United States each year. It now maintains the largest proportion of the global markets and is expected to maintain this trend in the coming years, which further leads to the Scar Treatment Market expansion.
Another factor driving market expansion in the region is growing aesthetic consciousness among the country's population, which has resulted in greater use of scar treatment solutions.
Due to the increasing rate of scar treatment expenditure in South Korea, Japan, and China and factors such as the growing number of burn cases, road accidents, and skin diseases, the market in the Asia Pacific is projected to grow at the fastest rate throughout the projection period.
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The United States is expected to account for the largest market of USD 15.8 Billion by the end of 2032. The rising disposable income is the primary reason for the increased expenditure on personal care items. The rising frequency of accidents seen across the country, along with well-planned hospital infrastructure boosts business expansion.
Furthermore, the region's increased appearance consciousness has resulted in an increase in the usage of innovative scar therapy services and goods. Also, the rising prevalence of skin illnesses and burning cases in this region is driving up demand for scar therapy solutions.
The market for scar treatment in the UK is projected to reach a valuation of USD 2.6 Billion by 2032. Growing at a CAGR of 15.6% from 2022 to 2032, the market is expected to gross an absolute dollar opportunity of USD 2 Billion.
In Japan, the market is expected to surge at a CAGR of 14.8% during the forecast period to reach a valuation of USD 2.9 Billion by 2032. From 2022 to 2032, the market in the country is likely to garner an absolute dollar opportunity of USD 2.2 Billion.
The market in South Korea is expected to reach a valuation of USD 1.5 Billion by 2032. With a CAGR of 15.3% during the forecast period, the market in the country is likely to register an absolute dollar opportunity of USD 1.1 Billion.
The topical products segment is forecasted to grow at a CAGR of over 14% from 2022 to 2032. This is because creams reduce, smoothen, flatten, and diminish both old and new scars, as well as prevent the creation of new scars, which leads to a larger acceptability of creams and gels for healing scars such as burns, acne, and surgical scars in the market. It is also widely available, inexpensive, has fewer adverse effects, and is simple to use.
Hospitals commanded the largest revenue as well as CAGR of nearly 15.2% during the forecast period. The great majority of scar therapy is accessible in hospitals, giving patients a variety of choices for reducing or removing the scar. In the majority of situations, hospitals give first emergency care to patients, typically treating severe burn injuries, cuts, and wounds, as well as other serious ailments.
Some of the key players in the scar treatment market include Smith & Nephew PLC, Lumenis, Merz Pharmaceuticals LLC, Sonoma Pharmaceuticals Inc, Cynosure, Avita Medical Limited, HRA Pharma, Beijing Toplaser Technology Company Limited, and Pacific World Corporation.
Some of the recent developments of key Scar treatment service providers are as follows:
Similarly, recent developments related to companies Scar Treatment Market have been tracked by the team at Future Market Insights, which are available in the full report.
At present, the scar treatment market is valued at around USD 13 billion.
The value of the Scar Treatment Market is projected to increase at a CAGR of around 13.6% from 2022 to 2032.
The value of the Scar Treatment Market increased at a CAGR of around 11.9% from 2017 to 2021.
The rising incidence rate of skin-related diseases, burn cases, and road accidents, as well as rising consumer awareness of numerous wound treatment options, are the primary factors shaping the market growth.
The market for Scar Treatment Market in China is projected to expand at a CAGR of around 16.3% from 2022 to 2032.
While the market in South Korea is expected to grow at nearly 15.3%, the market in Japan is projected to register a CAGR of 14.8% from 2022 to 2032.
1. Executive Summary | Scar Treatment Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type 5.1. Topical Products 5.1.1. Creams 5.1.2. Gels 5.1.3. Silicon Sheets 5.1.4. Other Topical Products 5.2. Laser Products 5.2.1. CO2 Laser 5.2.2. Pulse-dyed Laser 5.2.3. Other Laser Products 5.3. Injectables 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Scar Type 6.1. Atrophic Scars 6.2. Hypertrophic and Keloid Scars 6.3. Contracture Scars 6.4. Stretch Marks 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End-use 7.1. Hospitals 7.2. Clinics 7.3. Retail Pharmacies/ E-commerce 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia 8.6. Oceania 8.7. Middle East & Africa (MEA) 9. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 15. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Smith & Nephew PLC 18.2. Lumenis 18.3. Merz Pharmaceuticals LLC 18.4. Sonoma Pharmaceuticals Inc 18.5. Cynosure 18.6. Avita Medical Limited 18.7. HRA Pharma 18.8. Beijing Toplaser Technology Company Limited 18.9. Pacific World Corporation 19. Assumptions & Acronyms Used 20. Research Methodology
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Scar Treatment Market
