Press release
Growth in revenue generated from the sales of scar treatment products and services is directly attributed to the increasing economic growth
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Key Market Dynamics
The prime drivers for the market include availability of attractive reimbursement facilities in developed markets and rising incidences of atrophic scars (primarily acne) in developing markets, primarily due to rapidly changing food habits and lifestyles. Furthermore, growing adoption of combination therapeutics is another factor expected to drive demand for various combinations of scar treatment product and treatments over the forecast period. Currently, there are no formalized guidelines for treatment of scars. All treatments are done on a best-effort basis, guided mostly through word-of-mouth by expert clinicians and surgeons. However, efforts are underway to formalize treatment guidelines at least for common scars. In this regard, under the U.K. government’s cosmetic intervention guidelines, patient and patient parties need access to independent and evidence-based information to form their decisions. Many of these scar treatment and aesthetic beautification procedures are considered similar to ‘consumer goods’ by both the purchaser and provider. A change in this perspective could help boost manufacturers and service provider’s potential revenue base.
Barriers to the market include fragmented documented clinical evidences for popular topical products such as onion extract gels (containing silicone). This hampers the product uptake by the educated section of the patient base in both developed and developing countries. Other barriers include psychological issues such as fear of side-effects and consideration of scar treatment as a non-necessary expenditure item in the overall consumption basket. Even some of the well-known regulatory agencies do not accept scar treatments as medically necessary as they mostly are not life-changing in nature.
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Market Segmentation & Forecast
In the report, the global scar treatment market is analyzed based on product-type, scar type, end-user (distribution channel), and region. Based on product type, the overall market has been segmented into topical products, laser products, surface treatment products, and injectable products. The topical product segment is further segmented into creams, gels, oils, and silicone gel sheets. The laser segment has been sub-segmented into CO2, excimer, and pulse-dyed lasers. Based on scar type, the market has been sub-segmented into atrophic scars, hypertrophic scars and keloids, contractures, and stretch marks. The distribution channels or end-users in the market include hospitals, private clinics, pharmacies and retail drug stores, and e-commerce. The market has been analyzed in terms of value. In the overall market, topical products and atrophic scars are the prime segments driving revenue growth currently. Accordingly, the topical product type segment is expected to reach a value of US$ 473.8 Mn by the end of 2025, registering a moderate CAGR over the forecast period.
Regional Forecast
Based on region, the market has been divided into North America, Latin America, Europe, Asia Pacific, and the MEA. Developed pharmaceutical markets such as the U.S. and EU are expected to emerge as the main markets for scar treatment products over the forecast period, while markets in Brazil and Central Asia are expected to witness growing adoption of laser treatments due to booming medical tourism and aesthetic corrective procedures in these regions. Increasing involvement of patients in treatment formulation processes is an important attribute being adopted by reputed physicians as it could lead to a marked improvement in adherence levels of prescribed treatments and increase treatment effectiveness. This report assesses the market trends, by product, scar type, end user and region, to offer analytical insights about the potential emerging demand for particular scar treatments in specific regions. North America is estimated to dominate the scar treatment market over the forecast period, accounting for maximum revenue share of the overall market by the end of 2015. Markets in Latin America and APAC region are estimated to expand at the most significant CAGR over the forecast period.
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Vendor Landscape
Key companies covered in this report include Smith & Nephew PLC, Merz Inc., Enaltus LLC, Occulus Innovative Sciences Inc., CCA Industries Inc., Cynosure Inc, Avita Medical Limited, Lumenis, Syneron Medical Ltd., Nutramarks Inc., Mölnlycke Health Care, Pacific World Corporation, Valeant Pharmaceuticals International Inc. and Shanghai Fosun Pharmaceuticals Ltd. (AC. Alma Lasers). These companies are primarily focused on enhancing their product portfolio through research and development and on the introduction of innovative and cost-effective advanced manufacturing procedures in order to gain higher market share and to strengthen their respective positions in the global market.
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