Press release
Advanced Scar Treatment Techniques Redefining Dermatology
According to The Business Research Company's, The hypertrophic and keloid scar treatment market size has grown rapidly in recent years. It will grow from $6.91 billion in 2023 to $7.67 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to risen incidence of hypertrophic and keloid scars, advancements in scar assessment, widespread adoption of topical treatments, surgical and invasive procedures, patient demand for scar improvement.
The hypertrophic and keloid scar treatment market size is expected to see strong growth in the next few years. It will grow to $11.14 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to emerging minimally invasive interventions, advancements in scar revision techniques, growing interest in combination therapies, increasing awareness and early intervention, global aesthetic trends. Major trends in the forecast period include emerging injectable therapies, combination therapies for synergistic effects, patient-centric approaches, scar assessment technologies, telemedicine for follow-up and consultations.
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Market Drivers and Trends:
An increase in the number of road accidents and burn cases is expected to propel the growth of the hypertrophic and keloid scar treatment market going forward. Road accidents refer to an accident that occurs on the road and involves at least one vehicle and people. Road accidents and burn cases require attention and appropriate measures to prevent them and provide effective treatment. Hypertrophic and keloid scar treatments are used to treat people who are injured in road accidents by lowering the scar's height and tightness. An increase in road accidents and burn cases contributes to the growth of the hypertrophic and keloid scar treatment market. For instance, in August 2022, according to the National Highway Traffic Safety Administration, a US-based agency of the federal government, part of the Department of Transportation, in the first three months of 2022, around 9,560 persons died in motor vehicle traffic accidents, an increase of nearly 7% compared to the 8,935 fatalities for the same period in 2021. Further, the mortality rate rose from the predicted rate of 1.25 fatalities per 100 million vehicle miles in the first quarter of 2021 to 1.27 fatalities per 100 million vehicle miles in the first quarter of 2022. Therefore, the increase in the number of road accidents and burn cases will drive the hypertrophic and keloid scar treatment market.
Major companies in the hypertrophic and keloid scar treatment market are focusing on developing clinically proven solutions made from silicon, such as medical-grade silicone strips, to maximize their profits in the market. Medical-grade silicone strips are therapeutic products made from high-quality silicone material, specifically formulated to promote scar healing and reduction. For instance, in April 2023, Scar Erase, a UK-based company that provides silicone-based scar reduction therapy, launched Scar Erase silicone strips, a clinically tested and affordable solution for scar healing. Made from 3mm of medical-grade silicone, the strips aid in the treatment of various scar types, including hypertrophic, keloid, post-surgery, and stretch marks. This silicone technology encapsulates the scar location, promoting hydration and an optimal healing environment, leading to significant reductions in scar texture, color, and height. It is designed for comfort and discretion, providing an accessible at-home scar treatment solution.
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Major Key Players of the Market:
Smith & Nephew plc; Merz Pharmaceutical LLC; Lumenis Ltd.; Enaltus LLC; Sonoma Pharmaceuticals Inc.; Molnlycke Health Care AB; Suneva Medical Inc.; Pacific World Corporation; Perrigo Company plc; Cynosure Inc.; Alliance Pharma plc; Newmedical Technology Inc.; HRA Pharma; Scar Heal Inc.; McKesson Medical Surgical Inc.; Johnson & Johnson Private Limited; Medtronic plc; 3M Company; Sinclair Pharma plc; Avita Medical; Mylan N.V.; Stratpharma AG; Revitol Corporation Inc.; Quantum Health; Scarfade; Biodermis; Renovo Group plc; Mederma; Silagen
Hypertrophic And Keloid Scar Treatment Market 2024 Key Insights:
• The hypertrophic and keloid scar treatment market will grow to $11.14 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.
• Rising Road Accidents And Burn Cases Fuel Growth In Hypertrophic And Keloid Scar Treatment Market
• Clinically Proven Solution To Maximize Their Profits In The Market
• North America was the largest region in the hypertrophic and keloid scar treatment market in 2023
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