At present, the global scar treatment market is characterized by greater use of silicon based products and the growing popularity of online retailing of scar treatment products. Technological developments in scar treatment, high incidence of skin problems leading to the formation of scars, and increasing expenditure on scar treatment are the key factors that propel the global scar treatment market.
Greater consciousness amongst the masses about appearance also plays a vital role in driving the demand for scar treatment products. Expanding at a 10.3% CAGR from 2015 to 2022, the global scar treatment market is projected to reach US$31904.8 million by 2022, from US$16048.7 million in the current year.
Acne, burns, surgery, infection, tissue inflammation, and injury are the key causes that lead to the formation of scars. Scars may have an adverse impact on a person’s physical and mental wellbeing that often results in depression, low self-esteem, and embarrassment. Shoulders, ear lobes, chest, and the back are the main areas of the body that are most prone to scarring.
High Incidence of Photoaging to stimulate Market Demand
The global scar treatment market is segmented on the basis of type of scar, product type, type of scar treatment, distribution channel, and geography. On the basis of type of scar, this market is segmented into hypertrophic scars, keloid scars, stretch marks, contracture scars, acne scars, and post-surgical scars. Based on the product type, the global scar treatment market is categorized into sprays, elastic wraps, gel sheets, gels, oils, and creams.
On the basis of type of scar treatment, the market is segmented into steroid injections, tissue fillers, cryosurgery, invasive surgical treatments, chemical peeling, laser treatment, and dermabrasion.
The various distribution channels in the scar treatment market are over-the-counter scar treatment products and prescription scar treatment products.
High incidence of photoaging caused by excessive and prolonged exposure to UV radiation and pollution, leads to decreased skin elasticity and sunburns. Such a condition if left untreated, leads to the formation of scars.
High Cost of Scar Treatment: A Glaring Challenge
Geographically, the global scar treatment market is segmented into Asia, North America, Latin America, Europe, and Rest of the World. Owing to high expenditure on personal care driven by high disposable incomes, North America holds the largest share of the global scar treatment market. However, with India and China being the two rapidly growing markets for scar treatment, it is the Asia Pacific market that will expand robustly in over the next five years. The emerging markets for scar treatment are mainly driven by factors such as better healthcare facilities, increased focus on personal wellbeing, rapidly growing population, high income levels, and high incidence of skin problems. However, the risk of side effects of scar treatment products and also the steep costs of scar treatment are likely to hamper the growth of the global scar treatment market.
The prominent companies operating in the global scar treatment market are CCA Industries Inc., Quantum Inc., Scarguard Labs LLC, Avita Medical Limited, Pacific World Corporation, Oculus Innovative Sciences, Merz Pharma GmbH & Co. KGaA, and Valeant Pharmaceuticals International Ltd. Surging demand for organic based scar treatment products is anticipated to drive the overall scar treatment market in the forecasting horizon.