Scar Treatment Market is Expected to Reach US$ 12,607.1 Mn by 2024

According to the latest market report published by Persistence Market Research, titled “Global Scar Treatment Market is Expected to Reach US$ 12,607.1 Mn by 2024, Driven by Increasing Awareness and Adoption of Combination Therapies", revenue from the global scar treatment market is expected to expand at a CAGR of 3.8% during the forecast period 2016 - 2024.

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 7,318.7 Mn by the end of 2024, registering a moderate CAGR over the forecast period.

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The prime drivers for the market include the 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 evidence 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 aren’t life-changing in nature.

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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 a maximum revenue share of the overall market by the end of 2015. By 2024 end, North America and Europe markets are expected to account for over three-fifth market value share of the global scar treatment market. Markets in Latin America and APAC region are estimated to expand at the most moderate CAGR over the forecast period.

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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., Shanghai Fosun Pharmaceuticals Ltd. (AC. Alma Lasers), and Beijing Toplaser Technology Company Limited. 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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