The global Scar treatment market was valued at $ 14,534.1 million in 2014, and it is expected to grow at a CAGR of 9.9% during the period 2015 – 2020. The global market is increasing, due to growing prevalence of skin problems leading to scarring, increasing appearance consciousness and increasing expenditure on personal care. In addition, the availability of technologically advanced scar treatment products and therapies is encouraging the growth of the global scar treatment market.
Among the various segments, the products segment is expected to witness the fastest growth during the forecast period. Among the various scar treatment therapies, the dermabrasion segment accounted for the largest share in the global market in 2014; and it is expected to witness growth at 8.5% CAGR during the 2015 – 2020.
The prevalence of skin problems is increasing, due to excessive exposure to pollution and UV radiation, which results in sunburns, reduced skin elasticity, and other skin diseases. These conditions, without proper treatment on time, can lead to the formation of scars. Various other skin problems, such as acne, burns, post-surgical marks, and stretch marks due to pregnancy or changes in body weight also lead to scar formation, which is boosting the demand of scar treatment products and therapies.
The increasing appearance consciousness among consumers, due to exposure to media is driving the demand for beauty products and cosmetic surgery. The online availability of scar treatment products, such as scar treating creams, sprays, oils, gels leads to increased accessibility of these products around the world. In addition, online retailing is time saving, provides instant access, offers discounted prices, and more convenient, which allows products to be purchased from any part of the world at any time. Furthermore, the technological advancements in scar treatment products and therapies help in the removal of scars easily. The availability of various products, such as creams, oils, gels, and sprays over the counter for treating scars leads to the growth of the global scar treatment market.
However, the high cost associated with the treatment of scars is a key restraint in the growth of the scar treatment market worldwide. Scar treatment products, such as gels, creams, sprays, and oils are costly. Scar removal therapies are capital intensive and require skilled practitioners, which add to the overall cost of treatment. In addition, the side effects of scar treatment products and therapies further restrain the growth of the market. The Asian market is expected to witness the fastest growth, with a CAGR of 11.4% during the period 2015 – 2020.
The key companies operating in the global scar treatment market include Pacific World Corporation, MerzPharma, Valeant Pharmaceuticals International Inc., Oculus Innovative Sciences Inc. Enaltus LLC, Avita Medical Limited, Revitol Corporation Inc., Scarguard Labs LLC, Quantum Health, and CCA Industries Inc.
News Courtesy: P&S Market Research