A market research report recently published by Persistence Market Research (PMR) projects healthy growth prospects for the global scar treatment market. The report, comprising a detailed analysis of the key elements, key factors impacting growth and development, popular trends of past and present, regulatory landscape, and competitive landscape of the market, states that the market will expand at a 10.3% CAGR between 2015 and 2022.Growing at this pace, the market, with a valuation of US$16,048.7 mn in 2015, is expected to rise to US$31,904.8 mn by 2022.
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The report is titled “Global Market Study on Scar Treatment: Asia to Witness Highest Growth by 2022” and is available at the company website for sale.
The report states that the global market for scar treatment is witnessing significant growth owing to the rising prevalence of a number of skin diseases across all age-groups and the rising expenditure on personal care. Technological advancements in the field of scar treatment, innovations in products, and the rising consciousness about one’s appearance among the global population are also some of the key factors driving the global scar treatment market. However, the market’s growth is inhibited to a certain level owing to the high costs of advanced scar treatments and side effects associated with a few treatment methods.
The report segments the global scar treatment market on the basis of four criteria: treatment type, product type, scar type, and geography.
On the basis of product type, the market is further segmented into oils, creams, gels, sprays, gel sheets, and elastic wraps. On the basis of treatment type, the market is segmented into cryosurgery, laser treatment, tissue fillers, invasive surgical treatment, steroid injections, and chemical peeling. On the basis of scar type, the market is segmented into post-surgical scars, keloid scars, contracture scars, hypertrophic scars, acne scars, and stretch marks. Regionally, the market is segmented into Europe, North America, Asia, and Rest of the World (RoW).
The high disposable income of people in North America is a chief factor behind the high spending on personal care in the region. In 2014, nearly 10 mn surgical and nonsurgical cosmetic surgeries were performed in the U.S.
The market for scar treatment in Europe benefits from the high disposable income of population in Western European countries, increasing incidence of injuries in the region, and rising awareness about scar treatment.
However, due to the presence of several emerging economies, Asia Pacific exhibits excellent growth prospects for the global scar treatment market. Factors such as rising geriatric population, rising disposable incomes, mounting population, and improving state of healthcare facilities are some factors propelling the scar treatment market in the region.
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The report includes a detailed discussion about the competitive landscape of the global scar treatment, wherein detailed company overview, details about products and services in the company’s portfolio, financial performance of the company, and key developments are discussed. Some of the key companies operating in the market are Merz Pharma GmbH & Co. KGaA, Valeant Pharmaceuticals International Inc., Pacific World Corporation, Oculus Innovative Sciences, Inc., Scarguard Labs LLC, Avita Medical Limited, CCA industries Inc., Enaltus, LLC, Quantum, Inc., and Revitol Corporation Inc.