Global Scar Treatment Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insight by Type of Treatment by Type of Scars and by End User
LONDON, Oct. 11, 2017 /PRNewswire/ -- Market Overview
Scar treatment in the study refers to the treatment of marks on the skin surface, that appear when the skin is damaged. It includes various products and therapies performed by various dermatologists, cosmetologists and other skin specialists for fading away or completely removing the scars. Based on the type of scar, the global scar treatment market is segmented into topical, surface, laser, injectable and invasive surgical. The global scar treatment market is expected to witness considerable growth during the period 2017 - 2023.
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Topical scar treatment type held the largest share of the global scar treatment market in 2016, and is expected to witness highest growth during the period 2017 - 2023. Topical scar treatment products are non-invasive, painless and are convenient to use for scar treatment and offer various advantage over other types of treatment solutions, this has led to an increase in the sales of the topical scar treatment products leading to the growth of the scar treatment market.
Scar Treatment Market
Among different type of scars, post-surgical scar is expected to be the largest segment in the global scar treatment market in the forecast period. This dominant position is primarily attributable to the rising number of surgical procedures and increasing healthcare spending, globally. According to the World Health Organization (WHO), around 234.2 million major surgical procedures are performed every year, worldwide. The high number of surgical procedures is likely to increase the demand for fast and effective scar treatment products in future which is further expected to spur the growth of scar treatment market. Based on end user, hospital is expected to hold the largest share of the global scar treatment market during the forecast period. Hospital utilize multidisciplinary approaches and offer improved healthcare infrastructure, thereby providing better scar treatment solutions to the patients. The increasing healthcare expenditure by regulators allows them to opt for latest instruments, such as lasers, thereby offering their services to a large number of patients for scar treatment. This in turn leads to the growth of scar treatment market.
Market Dynamics
The global scar treatment market is expected to witness a CAGR of 10.0% during the period 2017 - 2023, and is estimated to reach $34.7billion by 2023. Increasing prevalence of skin diseases, rising appearance consciousness among consumers, technological advancements in scar treatment products, increasing awareness among people for scar treatment, and increase in disposable income leading to rise in spending on personal care, are some of the major factors driving the growth of the global scar treatment market. High cost associated with scar treatment and side effects of scar treatment products and therapies are key challenges in the global scar treatment market.
Trends
Silicon-based products, such as gels and gel sheets, are effective for reducing scars and are recommended by cosmetic surgeons and doctors, globally. These products provide effective results and help in fading away of the scars completely. They are very effective and are used widely for treating all type of scars, including stretch marks, hypertrophic, keloid, acne and post-surgical scars. These products also help in reduction of the size and darkness of the scars. Some of the silicone-based scar removal products available in market include Avosil Scar Care Ointment, Kelo-Cote, Xeragel, Kelo-cote spray, Avogel, Cimeosil, Oleeva, and ScarAway. Since these silicon based products are more efficient in treating scars and offer advantages over conventional scar treatment products, this is expected to further accelerate the demand of silicon-based scar treatment products.
Growth Drivers
The prevalence of skin diseases, such as psoriasis, eczema, vitiligo and photoaging of skin is increasing due to excessive exposure to pollution and ultraviolet radiation, resulting in sunburns, reduced skin elasticity, and hair loss. Skin diseases are also caused by various other factors, such as excessive alcohol consumption, environmental pollution, and consumption of tobacco. These conditions without proper treatment on time, can lead to the formation of scars. Various other skin problems such as, acne, burns, post-surgical marks, and stretch marks due to pregnancy or changes in body weight can also lead to scar formation.
Acne is the most common dermatological condition that is caused by clogging of hair follicles by sebum, dirt, and dead skin cells. Acne affects majority of the world population and can eventually leads to scaring. According to the American Academy of Dermatology (AAD), approximately 85% of Americans suffer from acne at some phase in their lives. In order to treat these skin diseases and overcome the harmful effects of ultraviolet radiation, scar treatment products are used.
Burns are another major reason for scar formation. According to the American Burn Association (ABA), in 2011, approximately 486,000 burn injuries were reported in the U.S. According to the World Health Organization (WHO), nearly 1 million people suffer from moderate to severe burns every year in India. The increasing prevalence of these skin problems has led to the increasing demand for scar treatment products, thus driving the global scar treatment market.
Competitive Landscape
Some of the other key players in the global scar treatment market are Smith & Nephew Plc, Syneron Medical Ltd., Mölnlycke Health Care AB, Shanghai Fosun Pharmaceutical (Group) Co. Ltd., Beijing Toplaser Technology Company Ltd., Merz GMBH & Co KGAA, Valeant Pharmaceuticals International Inc., Pacific World Corporation, Avita Medical Ltd. Enaltus LLC, Sonoma Pharmaceuticals Inc., CCA Industries Inc., Scarguard Labs LLC, Quantum Health, Hologic Inc.
The global scar treatment market has been experiencing a number of acquisitions and collaborations. In March 2017, Hologic Inc., announced the acquisition of Cynosure Inc., to expands its business in medical aesthetic market. Hologic Inc., acquired all outstanding shares of Cynosure Inc share for $66.0 per share in cash, which corresponds to an enterprise value of $1.4 billion, net of cash. Cynosure Inc., is a medical aesthetic and technology company, that develops and manufactures aesthetic treatment systems.
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