Scar Treatment Market Size is Forecasted to Cross
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NEW YORK, May 23, 2018 (GLOBE NEWSWIRE) -- According to the market research report published by P&S Market Research, global scar treatment market size is expected to reach $34.9 billion by 2023, the market is mainly driven by rising prevalence of skin diseases, technological advancements in dermatological devices, rise in the number of road accidents, increasing number of surgical procedures performed, increasing awareness among people about various scar treatments, and surge in disposable income of general population leading to rise in spending on personal care.
Topical, surface, laser, injectable, and invasive surgical are the types of treatment available for removal or reduction of scars. Among these, the demand for topical products is expected to witness the highest growth, at a CAGR of 10.9%, during the forecast period. The growth in topical scar treatment market is mainly due to the various advantages of these products such as ease of application, low cost and less severe side effects of these products, compared to laser and other treatment options.
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Scar can be formed due to different causes and each cause can lead to a different type of scar. Based on the type of scar, the scar treatment market is categorized into post-surgical scar, acne scar, keloid and hypertrophic scar, contracture scar, and stretch mark. The market is expected to witness fastest growth in the keloid and hypertrophic scar type category, with a CAGR of 11.8%, during the forecast period, mainly driven by the growing number of burns cases, globally.
Globally, North America accounted for the largest share of the scar treatment market, with 38.5% share in 2017. This is attributable to high disposable income of general population in the region, which further increases spending on personal care products. Moreover, the increasing appearance consciousness among the North American population has also led to rise in the adoption of technologically advanced products.
Additionally, the growing prevalence of skin diseases and burn incidences is further fueling the demand for the scar treatment products in the region. According to the American Academy of Dermatology (AAD), approximately 85% of the population in the U.S. suffers from acne, every year. The growing awareness about various products, which can enhance physical appearance of an individual is driving the demand for these products in the U.S.
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The key players operating in the scar treatment industry are launching various topical products, especially gel based, in order to strengthen their position in the topical scar treatment market. For instance, in October 2017, Sonoma Pharmaceutical Inc. received Brazilian Ministério da Saúde approval, for the marketing of multiple hypochlorous acid-based dermatology products such as Lasercyn, Gramaderm, Epicyn and Pediacyn. Among these products Epicyn is specially used for scar treatment.
Some of the other key players operating in the scar treatment market are Syneron Medical Ltd., Merz Pharma GmbH & Co. KGaA, Hologic Inc., Beijing Toplaser Technology Company Limited, Avita Medical Limited, Mölnlycke Health Care ABFosun Pharmaceutical (Group) Co., Ltd., Smith & Nephew Plc, CCA Industries Inc., Scarguard Labs LLC, Quantum Health, Valeant Pharmaceuticals International Inc., and Pacific World Corporation.
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