Scar treatment has been a rapid-growing industry, mainly due to increasing awareness regarding physical appearance. Rising occurrences of skin diseases, together with increasing awareness regarding different scar treatments, represent major factors boosting market growth.
Moreover, rise in the number of road accidents across the world is leading to increased number of surgeries, which later require scar treatment, where topical products are popular. Also, there has been a rise in cosmetic surgical treatments performed using laser devices for the treatment of serious marks caused due to road accidents. To get rid of post-burn marks plastic surgeries are relied upon.
Leading pharmaceutical companies are focusing on expanding their product scope across various distribution and countries around the world. To improve their industrial research activities, some companies are concentrating on collaborating directly with academic institutions.
According to a revised report published by Persistence Market Research, the global scar treatment market valued at US$ 16.7 Bn in 2020, and is predicted to expand at a CAGR of around 3.4% over the forecast period (2021–2031).
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Key Takeaways from Market Study
“Increasing number of burn injuries, rising spending on personal care products, increasing urbanization, and technologically advanced are is expected to drive market growth over the coming years,” says an analyst of Persistence Market Research.
Government Support Rising in Developed Countries
Market players are getting support from governments in developed countries, as the prevalence of chronic wounds such as diabetic foot ulcers and pressure ulcers is increasing from the past decade.
Governments are taking initiatives to make people aware of advanced wound care treatments rather than traditional methods to attain fast recovery from chronic wounds. This is being done through favourable reimbursement policies for wound care therapy.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the scar treatment market in its latest study, presenting a historical demand assessment of 2016 – 2020 and projections for 2021 – 2031. The research study is based on product (topical scar products, lasers, surface treatment, and injectable), application (atrophic scars, hypertrophic scars and keloids, contractures, and stretch marks), and end user (hospitals, clinics, pharmacies and drug stores, and e-Commerce), across seven key regions of the world.
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