Press release
Advancements in Dermatology: Keloids Treatment Market Analysis & Forecast 2024-2033
Keloids Treatment Market Analysis
The keloids treatment market size is expected to see steady growth in the next few years. It will grow to $4.93 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to increasing expenditure on personal care products, government initiatives, increasing emphasis on scar prevention strategies, investments on keloids treatments. Major trends in the forecast period include advancements in treatment modalities, innovation in medical technologies, adanced minimally invasive procedures on keloids treatment, combination therapies, laser technology, scar management products.
Market Overview -
Keloids refer to raised, thickened scars that extend beyond the original boundaries of a wound or injury. These scars result from an overgrowth of collagen during the healing process, leading to a firm, often discolored and sometimes uncomfortable or itchy area on the skin. Keloids can be treated using various medical interventions and approaches tailored to the individual's condition and the severity of the keloid.
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Surge In Wound And Injury Cases Fuels Keloid Treatment Market Growth
The rising incidence of wound and injury cases is expected to propel the growth of the keloid treatment market going forward. A wound is a physical injury or damage to the body's tissues, typically involving a break in the skin, resulting from various causes such as accidents, surgical procedures, burns, or other traumatic events. The rise in experienced wounds leads to keloid formation, increasing demand for effective treatment options, fostering greater awareness about keloid complications, encouraging research advancements and promoting collaboration among medical professionals. For instance, in November 2022, according to the U.S. Bureau of Labor Statistics, a US-based government agency, there was a 6.3% rise in the total reported injury cases, reaching 2.2 million cases in 2021, compared to 2.1 million cases in 2020. Moreover, the injury rate increased as private industry employers reported 2.3 cases per 100 full-time equivalent (FTE) workers in 2021, up from 2.2 cases in 2020. Therefore, the rising incidence of wound and injury cases will drive the growth of the keloid treatment market.
Competitive Landscape -
Major players in the keloids treatment market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline plc., Eli Lilly and Company, Mylan N.V., Galderma S.A., Sun Pharmaceutical Industries Ltd., Molnlycke Health Care AB, Cynosure Inc., Cutera Inc., Alliance Pharma PLC, Revance Therapeutics Inc., Sensus Healthcare, Strata Skin Sciences, Avita Medical Limited, Pacific World Corporation, Mederma, Stratpharma AG, Sonoma Pharmaceuticals Inc., RXi Pharmaceuticals Inc., Biodermis, Novoxel Ltd., Scar Heal Inc., Galena Biopharma Inc.
Innovative Silicone Scar Treatment Solutions Redefines The Keloid Treatment
Major companies operating in the keloid treatment market are focused on developing innovative scar management technologies, such as scar-erase silicone strips, to gain competitive advantages in the market. For instance, in April 2023, Scar Erase, a UK-based scar treatment company, launched Scar Erase silicone strips as a solution for treating scars. These are made from 3 mm of medical-grade silicone and have been clinically proven to improve scar appearance and promote healing. These reusable, vegan and cruelty-free technology strips are designed to offer an affordable and convenient at-home scar treatment option suitable for various scar types, including hypertrophic, keloid, post-surgery and stretch marks. It also involves encapsulating the scar with silicone to hydrate it and create an optimal healing environment. This reduces collagen formation and improves scar texture, color and height, providing effectiveness and comfort.
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Key Segments -
The keloids treatment market covered in this report is segmented -
1) By Treatment: Radiation Therapy; Cryo Therapy; Surgical Treatment; Laser Treatment; Steroid Injections; Interferon; Other Treatments
2) By Product Type: Elastic Wraps; Sprays; Ointment; Creams; Oils; Topical Gels And Gel Sheets; Other Products
3) By Route Of Administration: Oral; Parenteral
4) By End User: Hospitals; Homecare; Dermatology Clinics; Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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