Scar treatment products are designed to diminish the appearance of post-procedure or post-injury scars by reducing discoloration, puffiness and texture abnormalities. Some key scar treatments include creams, gels, silicone gel sheets, laser therapy and microneedling that work to improve scar texture, fading of scars over time. The need for scar treatments is growing owing to rising number of surgeries, burns, accidents and trauma cases globally. The global Scar Treatment Market is estimated to be valued at US$ 12,020.05 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: One of the major trends propelling the growth of the scar treatment market is the increasing awareness regarding scar reduction treatment options. As non-invasive scar treatments such as scar creams, patches and serums are convenient to use at home, their adoption has been rising. Increased marketing and promotions by scar treatment product manufacturers have played a pivotal role in educating consumers about various scar treatment options available. Moreover, the abundance of information available online from healthcare blogs and review websites has augmented consumers’ knowledge about scar treatments. This has significantly driven the demand for scar treatment products and will continue to support the market growth over the forecast period.
SWOT Analysis
Strength: Scar treatment market has various treatment options available including topical scar treatments, laser treatment, surgical treatment and injectable treatment which helps in improved scar appearance.
Weakness: High cost of laser treatment and surgical scar treatment options acts as a restraint. Recurrence of scarring is also a major challenge.
Opportunity: Rising awareness about scar treatments especially in developing regions presents an opportunity for market growth. Growing medical tourism in countries like India and Thailand also boosts the market.
Threats: Presence of alternative treatments like natural and home remedies poses a threat to commercial scar treatment products. Lack of reimbursement policies in many countries further restricts market growth.
Key Takeaways
The global scar treatment market is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2024 is projected to reach US$ 12,020.05 Mn registering a CAGR of 4.4%.
Regional analysis: North America currently dominates the scar treatment market owing to advanced healthcare infrastructure and higher adoption of new technologies. However, Asia Pacific is expected to grow at the fastest pace due to rising medical tourism and improving access to healthcare in countries like India and China.
Key players operating in the scar treatment market are Bausch Health Companies Inc., Candela Medical, Perrigo Company plc, Sonoma Pharmaceuticals Inc., Hologic Inc., Johnson & Johnson Services Inc., Quantum Health, CCA Industries Inc., AVITA Medical, Revitol Corp, Scarguard labs, Smith+Nephew, Lumenis Be Ltd, Merz Therapeutics, Cynosure, HRA Pharma, GC Aesthetics, Sientra Inc., SkinCeuticals, Cimeosil.com, Honeydew Products, 3V Sigma USA Inc., Syneron Medical Ltd. These players are focusing on new product launches and expansion in emerging markets through collaborations.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it