According to the latest market report published by Persistence Market Research, titled “Global Market Study on Agriculture Micronutrients: Established Players Are Focusing to Strengthen Partnerships along the Value Chain to Gain Better Market Access over the Forecast Period 2016 – 2024, revenue from the global scar treatment market is expected to expand at a CAGR of 3.8% during the forecast period 2016 – 2024.
In the report, the global scar treatment market is analyzed based on product type, scar type, end-user (distribution channel), and region. Based on product type, the overall market has been segmented into topical products, laser products, surface treatment products, and injectable products. The topical product segment is further segmented into creams, gels, oils, and silicone gel sheets. The laser segment has been sub-segmented into CO2, excimer, and pulse-dyed lasers. Based on scar type, the market has been sub-segmented into atrophic scars, hypertrophic scars and keloids, contractures, and stretch marks. The distribution channels or end-users in the market include hospitals, private clinics, pharmacies and retail drug stores, and e-commerce. The market has been analyzed in terms of value. In the overall market, topical products and atrophic scars are the prime segments driving revenue growth currently. Accordingly, the topical product type segment is expected to reach a value of 7,318.7 Mn by the end of 2024, registering a moderate CAGR over the forecast period.
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The prime drivers for the market include the availability of attractive reimbursement facilities in developed markets and rising incidences of atrophic scars (primarily acne) in developing markets, primarily due to rapidly changing food habits and lifestyles. Furthermore, growing adoption of combination therapeutics is another factor expected to drive demand for various combinations of scar treatment product and treatments over the forecast period. Currently, there are no formalized guidelines for treatment of scars. All treatments are done on a best-effort basis, guided mostly through word-of-mouth by expert clinicians and surgeons. However, efforts are underway to formalize treatment guidelines at least for common scars. In this regard, under the U.K. government’s cosmetic intervention guidelines, patient and patient parties need access to independent and evidence-based information to form their decisions. Many of these scar treatment and aesthetic beautification procedures are considered similar to ‘consumer goods’ by both the purchaser and provider. A change in this perspective could help boost manufacturers and service provider’s potential revenue base.
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