Global Scar Treatment Market Booming: Projected to Grow at a CAGR of 10.1% by 2027
Published | 22 September 2021
The global scar treatment market is growing at a high CAGR because of factors such as the increasing prevalence of acne, especially among teens and young adults, diseases that leave stubborn scars such as chickenpox or smallpox, or an increasing number of road accidents…
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global scar treatment market was worth USD 22.2 billion in the year 2020. The data generated by the report reveals that the market is estimated to grow at a CAGR of 10.1%, earning revenue of around USD 43.4 billion by the end of 2027. The global scar treatment market is gaining significant traction because of driving factors such as the increasing prevalence of acne, especially among teens and young adults, diseases causing stubborn scars such as chickenpox to smallpox, or a rising number of road accidents. Additionally, the market is also driven by the increasing disposable income of people, resulting in an increase in demand for scar treatment procedures such as laser treatment, injectable injections, and surgical scar removal. However, the high cost of laser treatment and other surgical procedures may act as a major restraining factor for the global scar treatment market growth.
Increasing Demand for Invasive Surgical Procedures Is Propelling the Growth of the Global Scar Treatment Market
The WHO estimates that around 242.4 million major surgical procedures are performed worldwide each year. The surgeries are carried out for various purposes, such as treating chronic diseases, aesthetic procedures, etc. Invasive procedures almost always leave scarring on the body. Thus, the demand for laser procedures, injectables, and topical scar treatment methods increases with the global growth rate of surgical procedures. Furthermore, advancements in medical technology and improving healthcare infrastructure make surgical procedures more accessible, which is likely to drive the market growth in the forecast period.
Growing Number of Road Accidents Is Boosting the Demand for Scar Treatments
The increasing number of skin injuries caused by road accidents is significantly driving the demand for scar treatment. According to the WHO, around 20 to 50 million people suffer from non-fatal injuries, and many suffer serious injuries as a result of serious accidents every year. Scars from non-fatal injuries and major injuries after surgery often remain stubborn, especially if the scar is on the face. Therefore, many people resort to scar treatment, which is driving the growth of the global scar treatment market.
Global Scar Treatment Market - By Distribution Channel
Based on distribution channels, the global scar treatment market is segmented into hospitals, private clinics, pharmacies & drug stores, and e-commerce. The pharmacy & drug store segment accounts for the largest market share because of the easy availability of a wide range of dermatology products and the presence of a large number of pharmacies & drug stores in local and regional areas. However, the e-commerce segment is also projected to see the highest CAGR during the forecast period due to the availability of scar treatment products at competitive prices and discounts.
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Global Scar Treatment Market - Regional Insights
Geographically, the global scar treatment market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, North America accounts for the largest market share and is likely to maintain its supremacy even during the forecast period.
On the other hand, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. With the growing number of surgical procedures performed in countries like South Korea, Japan, India, China, etc., scar treatment methods and procedures are on the rise in this region. Additionally, the growing medical tourism industry also favors the growth of the scar treatment market in the Asia Pacific. Furthermore, the rapid surge in the number of road accidents, especially in India, also influences the growth of the global scar treatment market.
Impact of COVID-19 on Global Scar Treatment Market
The global scar treatment market has been adversely affected by the sudden outbreak of Coronavirus disease (COVID-19). The manufacturing of scar treatment remedies such as creams and gels was completely restricted due to lockdown and halted distribution channels. Due to this, the demand and supply of the scar treatment were significantly affected, incurring losses to the market. COVID-19's impact on healthcare facilities was also severe due to the overwhelming number of patients affected. Therefore, all scar treatment procedures, such as laser, injectable, and invasive surgical scar treatment, were immediately postponed or canceled, negatively impacting the global scar treatment market.
Global Scar Treatment Market - Competitive Landscape
The leading players in the global scar treatment market are Smith & Nephew Plc, Cynosure, Inc., Lumenis Ltd., Syneron Medical Ltd, Mölnlycke Health Care AB, Shanghai Fosun Pharmaceutical (Group) Co., Ltd, Beijing Toplaser Technology Company Limited, Merz GMBH & CO. KGAA, Valeant Pharmaceuticals International Inc, Pacific World Corporation, Avita Medical Limited, Enaltus LLC, Oculus Innovative Sciences, Inc, CCA Industries Inc, Revitol Corporation Inc, Scarguard Labs LLC, Quantum Health, Scar Heal Inc., Suneva Medical Inc., and other prominent players.
The market is highly fragmented, with a wide range of scar treatment methods and cosmetic surgeries for various types of scars. The industry players significantly focus on product launches and, for this, invest heavily in R&D activities. They also spend on advertising and marketing their brands to create consumer awareness and increase their product penetration. Furthermore, the adoption of competitive strategies like mergers, acquisitions, partnerships, and collaborations are also very prominent in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global scar treatment market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global scar treatment market and industry insights to help decision-makers make sound strategic decisions. Furthermore, it also analyses the growth drivers, challenges, and competitive dynamics of the market.
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- Global Scar Treatment Market, By Type of Treatment (Topical Scar Treatment, Surface Scar Treatment, Laser Scar Treatment, Injectable Scar Treatment, Invasive Surgical Scar Treatment), By Type of Scar (Post-Surgical Scar, Acne Scar, Contracture Scar, Stretch Marks Scar, Keloid, and Hypertrophic Scar), By Distribution Channel (Hospital, Private Clinic, Pharmacy & Drug Store, E-Commerce), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027
Publish Date: September 2021
The factors driving the growth of global scar treatment market are increasing consciousness of customers towards their appearance and the growing prevalence of skin problems, such as inflammation, hyperpigmentation, etc., which causes scars.
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