Global Scar Treatment Market Overview:
The scar treatment market is anticipated to grow by about 9.8% over the forecast period from 2018 to 2023. Any burn injury or other trauma, including surgery, can cause a scar. The appearance and treatment of scar after injury depends on multiple factors that reduce scars but don’t remove them completely. Its market is motivated mainly by road accidents, burn injuries, technological development, and aesthetics. Based on geographical analysis, North America is anticipated to maintain dominance due to a strong demand for aesthetics, early implementation of sophisticated techniques, and social awareness.
Increased road accidents and burn injuries drive primarily Scar Treatment Market:
Road accidents lead to some of the most common injuries like burns and lacerations, often leading to a scar. The scar creates long-term inflexibility and harsh painful times. According to the Safe International Road Travel Association, about 3,290 fatalities happen every day, worldwide, from road accidents. About 20-50 million patients between 15-44 years get wounded or handicapped with the age group. Additionally, road accidents in low-and middle-income nations cost about $65 billion annually. In the US, road accidents are a single significant cause of healthy citizen’s death. In developing economies like India with an enormous population, drunken driving is one of the major causes of road accidents. Higher hospital admission rates due to road accidents and burns are among the main causes of the scar therapy market growth. Other driving factors include technological advances in skincare and growing aesthetic concerns, especially in developed markets.
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Laser-based products high cost acts as a major barrier for the Scar Treatment Market:
Laser scar treatment does not make a scar disappear but is intended to make it look less noticed around by others. Developed countries like the US and UK suffer mostly from expansive laser-based treatments. This often causes families to migrate across Western European countries for medical tourism choices or emerging Asian markets. Thus, countries suffer from technical expertise, technological failures or delays in advanced products to be available in hospitals/clinics in that region with affordability and demand. Treatment costs about USD 500 to USD 5000 depending on the treatment and physician. Additionally, laser treatment-related complications such as wave lasers can cause significant collateral heat harm and necrosis, post-inflammatory hyperpigmentation, among others. Thus, it is one of the main barriers to scar therapy market growth.
North America is expected to Retain Dominance in Scar Treatment Market:
North America is the main scar therapy market region for the 2018-2023 forecast period. Increasing demand for esthetic processes elevated disposable income of general people on personal care products and increasing investment by biopharmaceutical businesses on innovative esthetic processes drive this market mainly in North America. Moreover, North America’s population is highly stressed with inappropriate food habits including fast foods and excessive stress along with hormonal imbalances that strongly influence the development of scar therapy in this region.
Global Scar Treatment Market Key market developments:
Aug 2018: Pliant Therapeutics lead candidate PLN-74809, a US Food and Drug Administration US FDA orphan drug status for possible treatment of idiopathic pulmonary fibrosis IPF.
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Global Scar Treatment Market Key Players:
Alliance Pharma plc, Avita Medical, Mölnlycke Health Care, Sonoma Pharmaceuticals, Smith & Nephew, among others.
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