Scar Treatment Market is Anticipated to Grow US$ 473.8 Mn by the end of 2025
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Market Research (PMR) delivers key insights and presents a revised
forecast of the global scar treatment market for an eight year period
from 2017 to 2025 in the report titled “Scar Treatment Market: Global
Industry Analysis 2012–2016 and Forecast 2017–2025.” The revision in the
market size and forecasts have been carried out taking into account the
impact of various macroeconomic indicators and other industry-based
demand-driving factors, as well as the recent developments of key market
participants. The global scar treatment market is projected to expand
at a healthy CAGR of 3.9 % in terms of value during the forecast period,
revised from the previous CAGR of 3.8%, due to factors regarding which
PMR offers useful insights in detail in this report.
Report overview @ https://www.persistencemarketresearch.com/market-research/global-scar-treatment-market-102017.asp
Key Market Dynamics
The
prime drivers for the market include 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.
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Barriers
to the market include fragmented documented clinical evidences 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 are not life-changing in nature.
Market Segmentation & Forecast
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 US$ 473.8 Mn by the end of 2025,
registering a moderate CAGR over the forecast period.
Regional Forecast
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
maximum revenue share of the overall market by the end of 2015. Markets
in Latin America and APAC region are estimated to expand at the most
significant CAGR over the forecast period.
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Vendor Landscape
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. and Shanghai Fosun
Pharmaceuticals Ltd. (AC. Alma Lasers). 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.
About Us
Persistence
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intelligence for organizations of all sizes.
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