The global keloid treatment market is expected to reach US 3.9 billion dollars by 2023 and is expected to increase at a CAGR of 3.5 % during the forecast period from 2018 to 2023.
Keloid Treatment Market Outlook:
The Keloid Treatment Market has rising expenditure on skin care product, services and changing lifestyle have also significantly contributed to the expansion of keloid treatment market. However growing consciousness among patients particularly females regarding their appearance is also driving the market. As there is an increasing demand for keloid treatment, clinics and hospitals are focusing on adoption of advanced therapy options. Recently Sensus Healthcare has come up with a superficial radiation therapy device to provide better treatment with limited adverse reactions.
A keloid is a tough heaped-up scar that rises above the rest of the skin. It usually has a pink or purple color. Keloids have irregularly shaped scar that develops on the skin and enlarges progressively. Unlike other scars, keloids do not revert over time. According to the US national library of medicine, keloid formation is seen in individuals of all ages but dark-skinned people are more susceptible to keloid scar and about 6% to 16% in African populations is suffering from keloid skin problems.
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However, this market is being hindered by the possible side effects of keloid treatment, the high cost of various treatment options, and the risk of pain and barriers during treatment.
Keloid Treatment Market Key players:
Some of the key players in the global keloid treatment market are,
- Novartis AG
- RXi Pharmaceuticals Inc.
- Sonoma Pharmaceuticals Inc.
- Bristol-Myers Squibb Company
- Pacific World Corporation
- Valeant Pharmaceuticals International Inc.
- Revitol Corporation
- Avita Medical Limited
- Sensus Healthcare
- Perrigo Company plc.
Keloid Treatment Market Segmentation:
The global keloid treatment market is segmented into product type, treatment, and end-users.
Based on product type the market is segmented into elastic wraps, spray, ointment, creams, oils, topical gels & gel sheets.
Based on treatment market for keloid has been segmented into ligature, radiation therapy, cry therapy, surgical treatment, laser treatment, steroid injections, corticosteroid injections (intralesional steroids), silicone gel or sheeting, occlusive dressing, compression therapy, and interferon. Corticosteroid injections treatment segments lead the global keloid treatment market as this treatment is used in combination with other therapies. Intralesional steroids injection is considered to be the second largest segment of treatment type that drives market.
On the basis of end-users, the keloid treatment market is segmented into dermatology clinics, hospitals, ambulatory surgical centers. Hospital is expected to hold the largest share in the segment market of end-users as most doctors prefer radiation therapy which has reported safe and effective use of radiation to treat keloid.
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Keloid Treatment Market Regional Analysis:
The market in the Americas is expected to dominate the keloid treatment market during the forecast period owing to the rising demand for keloid treatment, increasing cosmetics expenditure, and rising popularity of keloid skin problems among the people. Additionally, clinics in North America are adopting advanced treatment that can reduce the risk of occurrence of the keloid. The European market is expected to be the second-largest due to government funding and support of the healthcare sector coupled with the growing incidence of keloid skin problems, whereas the keloid treatment market in Europe is expected to increase due to rising awareness and favorable reimbursement for skin treatment.
Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the assessment period owing to increasing population explosion of keloid skin problems and favorable government initiatives for healthcare facilities. The market in the Middle East & Africa is likely to account for the smallest share of the global keloid treatment market. The market growth in this region can be attributed to increasing healthcare expenditure and developing healthcare infrastructure.
TABLE OF CONTENTS:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.2 Scope Of The Study
2.2.1 Research Objective
Chapter 3. Research Methodology
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
The Global “Keloid Treatment Market” is dominated by many market players. The key players in the market are engaged in developing new technological advancement in keloid treatment to shift from monotherapy to combination therapy to maintain its market position.
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