Press release -
Hypertrophic & Keloid Scar Treatment Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026
The global hypertrophic & keloid scar treatment market size is anticipated to climb to around USD 3.7 billion by 2026. This market is anticipated to grow with 10.0% CAGR during the forecast time period. Rise in awareness about esthetic appeal has led to the market growth.
More than 40,000 hospitalizations resulted from burn injuries, the statistics as per American Burn Association, in 2016. This indicates an increase in the number of burn injuries worldwide. These injuries cause visible hypertrophic scars, a common complication associated with them. Though, road accidents, leading to surgeries, can result in the growth of surgical marks.
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Increase in burn injury cases has also led to augmented need for hypertrophic and keloid scar treatments. Plastic surgeries or resurfacing laser therapies are usually performed to eliminate these marks. Hypertrophic burn marks can affect a victim’s appearance and are related with other conditions, for instance, contractures and pruritis.
The global hypertrophic & keloid scar treatment market is segmented into product, end-user, and region. On the basis of product, the global hypertrophic & keloid scar treatment market is segmented into topical products, laser products, injectable, and others. The topical products sub-segment is further bifurcated into silicone sheets, creams, gels, and others. The laser product sub-segment is further bifurcated into pulse-dyed, co2 and others. On the basis of end-user, the global hypertrophic & keloid scar treatment market is segmented into hospitals, clinics, and retail pharmacies/e-commerce. On the basis of scar type, the market is bifurcated into Hypertrophic and Keloid. On the basis of region, the global Hypertrophic & Keloid Scar Treatment market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
On the basis of end user, hospitals sub-segment generated the maximum revenue in 2018 owing to the accessibility of an extensive range of cure options for scar removal. In case of emergencies, such as major accidents, hospitals are chosen for treatment as they deliver care during the recovery period as well.
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The clinics segment is anticipated to capture noteworthy market share in 2018 as they deliver specific treatment. In the greater part of the cases, patients visit hospitals for essential consideration and treatment and later follow up at strength centers. What's more, facilities frequently utilize mechanically propelled items. Every one of these elements are likewise added to the segment development. The retail pharmacies/e-commerce anticipated to show a noteworthy development over the forecast period as websites provide a wider variety of products.
Keloid segment held the largest market share in 2018 and is expected to record the fastest CAGR over the forecast timeframe. Unlike hypertrophic scars, surgical removal of keloid marks facilitates their regrowth. Therefore, they are treated with topical methods, for instance, silicone gel sheets and laser therapies. Cryotherapy, skin needling and pressure therapy are also some of the approaches used to decrease the size of the scar.
The hypertrophic sub-segment is expected to display a slow-moving growth over the forecast timeframe due to lower acceptance of treatments for the removal of these marks. The treatment usually involves non-invasive approaches, for instance, gels, silicone sheets, and creams, in case of slight injuries and laser therapies in case of adverse injuries. Though, in most cases, a mixture of two or more therapies is used for their treatment.
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Market companies are concentrating on implementing new strategies, for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. And also, growing R&D investments paired with technical advancements to commercialize highly efficient products are expected to offer huge growth opportunities for industry participants. Some of the main businesses present in the Hypertrophic & Keloid Scar Treatment market are Sonoma Pharmaceuticals, Inc., Lumenis Ltd., Suneva Medical, Inc., Smith & Nephew PLC, Mölnlycke Health Care AB, Cynosure, Inc., and Enaltus, LLC. Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, acquisitions.
Major producers have commenced strategic initiatives, for instance, product growth, mergers and acquisitions, and regional growth, to increase their business. Such as, in April 2017, Merz North America, Inc. declared the launch of Mederma Quick Dry Oil and Mederma Spezial for scar treatment.
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