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Keloid Treatment Market Deep Research Report with Forecast to 2031
According to the latest research by InsightAce Analytic, the Global Keloid Treatment Market is valued at US$ 3.54 Bn in 2022, and it is expected to reach US$ 4.72 Bn by 2031, with a CAGR of 3.4% during a forecast period of 2023-2031.
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A keloid is an elevated, thickened scar that extends beyond the boundaries of the original wound, often appearing in pink or purple hues. These irregularly shaped scars tend to enlarge progressively over time. The increasing incidence of road traffic accidents and burn injuries is anticipated to be a key factor driving growth in the hypertrophic and keloid scar treatment market.
Road accidents-defined as incidents occurring on public roadways involving at least one vehicle and resulting in human injury-continue to rise globally, thereby contributing to the growing demand for effective scar management solutions. Additionally, ongoing technological advancements are expected to enhance corporate profit margins through the development of more efficient treatment methods.
List of Prominent Players in the Keloid Treatment Market:
• Novartis AG
• Sensus Healthcare
• RXi Pharmaceuticals, Inc.
• Sonoma Pharmaceuticals, Inc.
• Perrigo Company plc.
• Bristol-Myers Squibb Company
• Pacific World Corporation
• Valeant Pharmaceuticals International, Inc.
• Revitol Corporation
• Avita Medical Limited.
• F. Hoffmann-La Roche Ltd. (Switzerland),
• Mylan N.V. (U.S.),
• Pfizer Inc. (U.S.),
• GSK plc (U.K.),
• Novartis AG (Switzerland),
• AstraZeneca (U.K.),
• Sun Pharmaceutical Industries Ltd. (India),
• Merck & Co., Inc. (U.S.),
• Lilly (U.S.),
• Renovo Group plc (U.K.),
•
Market Dynamics:
Drivers-
The growing incidence of keloid formation-often resulting from surgical procedures, trauma, or genetic predisposition-has led to a substantial increase in the number of individuals seeking treatment. This rising patient population is a key factor driving the expansion of the keloid treatment market. Furthermore, ongoing technological innovations have significantly improved the effectiveness of treatment options. Advanced modalities such as laser therapy, cryotherapy devices, and other state-of-the-art technologies offer more precise and efficient management of keloid scars, contributing to the market's upward trajectory.
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Challenges:
Despite market growth, the keloid treatment sector faces several challenges that could hinder the adoption and success of available therapies. Certain treatment options, including surgical excision and radiation therapy, may carry risks and adverse effects, necessitating a careful evaluation of benefits versus potential complications in clinical decision-making. Additionally, the regulatory process for approving new therapies is often complex and time-consuming, which can delay the introduction of innovative treatment solutions to the market.
Regional Trends:
North America is anticipated to hold a leading share in the global keloid treatment market, supported by high healthcare spending, rapid adoption of advanced treatment technologies, and strong demand for aesthetic procedures. The presence of technologically advanced clinics and a population with substantial disposable income further supports market growth in this region.
Meanwhile, the Asia-Pacific region is expected to experience significant growth over the forecast period. Factors such as a rising prevalence of skin-related conditions, increased emphasis on personal appearance, growing population, rising disposable income, and expanding healthcare infrastructure are collectively driving the demand for effective keloid treatment solutions across emerging economies in the region.
Recent Developments:
• In Oct 2022, Sensus Healthcare, Inc. made an announcement on the publishing of a retrospective study. The study demonstrates that the combination of keloidectomy followed by superficial radiation therapy (SRT) results in a recurrence rate of approximately 10%. This is in stark contrast to the anticipated recurrence rate of over 80% when surgical excision is performed as a standalone treatment.
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Segmentation of Keloid Treatment Market-
By Treatment-
• Occlusive Dressing
• Compression Therapy
• Cryosurgery
• Excision
• Radiation Therapy
• Laser Therapy
• Interferon Therapy
• Intralesional Corticosteroid Injections
• Others
By End-User-
• Hospitals
• Dermatology Clinics
• Ambulatory Surgical Clinics (ASCs)
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain a competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets, and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.https://www.insightaceanalytic.com/images_data/148861653.JPG
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