New York, NY, March 20, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Scar Treatment Market by Product Type (Topical Products, Laser Treatment, Surface Treatment and Injectables), by Scar Type (Atrophic Scars, Hypertrophic and Keloid Scars, Contracture Scars, Stretch Marks) and by End Users for Hospitals, ASC’s, Clinics and Others: Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023”. According to the report, global scar treatment market was valued at approximately USD 6.27 billion in 2017 and is expected to generate revenue of around USD 11.41 billion by end of 2023, growing at a CAGR of around 9.50% between 2017 and 2023.
Due to increasing prevalence of skin diseases such as psoriasis, eczema, vitiligo, and photoaging of skin, which is increasing due to excessive exposure to pollution and ultraviolet radiation the global scar treatment market is likely to grow significantly in the forecast period. The affirmed causes further results in sunburns, reduced skin elasticity, and hair loss. 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 can also lead to scar formation.
Browse through 90 Tables & 24 Figures spread over 110 Pages and in-depth TOC on "Global Scar Treatment Market Size, Share, Trends and Industry Forecast 2016 – 2022”.
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Growth in revenue generated from the sales of scar treatment products and services is directly attributed to the increasing economic growth and rising personal disposable income levels globally. While treatment of burn scars and keloids is considered to be medically necessary by regulatory bodies, treatment of spot correction, mild-to-medium acne is not deemed as a medical necessity. The rise in affluent population has also been responsible for further fuelling demand for aesthetic corrective procedures such as volume restoration, dermal filling, laser treatments, and wrinkle reduction. Hyaluronic acid-based dermal fillers and botulinum type-A injections are prime examples of the same. Markets across the world are also witnessing growth in demand for combination therapeutics in scar treatments, with a view to increase the effectiveness of the procedure and shorten treatment duration.
The scar treatment market is segmented on the basis of product type into topical products, laser treatment, surface treatment, and injectables. Topical product segment is expected to grow at fastest rate in the global market over the forecast period due to its cost-effectiveness, easy application, and easy availability. Also though the laser treatment is a bit expensive, but the faster and effective laser treatment provides better results with very less recovery time.
Browse the full "Scar Treatment Market by Product Type (Topical Products, Laser Treatment, Surface Treatment and Injectables), by Scar Type (Atrophic Scars, Hypertrophic and Keloid Scars, Contracture Scars, Stretch Marks) and by End Users for Hospitals, ASC’s, Clinics and Others: Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 - 2023?" report at https://www.zionmarketresearch.com/report/scar-treatment-market
North America dominates the scar treatment market due to increasing disposable income of consumers and rising economic growth. The rise in the affluence of the population has been fuelling the demand for aesthetic corrective procedures such as dermal filling, wrinkle reduction, volume restoration, and laser treatment in this region. The scar treatment market is also significantly gaining traction from the increasing demand for combination therapeutics in scar treatment to enhance the effectiveness of procedures and shorten the time taken for treatment.
Europe is the second largest regional market and is expected to show significant growth in the years to come since there is an upsurge in disposable income in the western European region, rise in appearance consciousness and awareness regarding scar treatments and awareness about scar treatment is increasing gradually which is propelling the growth of the market in this region.
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The Asia-Pacific and Latin America market are projected to have the highest CAGR during the forecast period. Indian scar treatment market is poised to exhibit profitable growth owing to the presence of large population base with unmet needs. Growing awareness regarding scar treatment will boost growth. Increasing number of burn incidences and per capita expenditure coupled with improving healthcare infrastructure will aid industry expansion. Brazil scar treatment market is growing at robust rate owing to increasing desire among the population to look beautiful and high per capita expenditure on cosmetic procedures. Increasing medical tourism for undergoing various cosmetic procedures is further aiding to industry expansion.
The Middle East and Africa hold the least growth in comparison to another region. Thus, all the aforementioned parameters are expected to propel the market growth globally.
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Some of the key players in scar treatment market include Smith & Nephew Plc, Merz, Inc., Enaltus LLC, Oculus Innovative Sciences, Inc., CCA Industries Inc., Cynosure Inc., Avita Medical Limited, Lumeins, Syneron Medical Ltd., Pacific World Corporation and others. Major players are frequently engaged in mergers & acquisitions to retain their market share and diversify their product portfolio. Also, key parameters affecting competition are rapid adoption of advanced options and rising need for optimum capital utilization.
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This report segments the global scar treatment market as follows:
Global Scar Treatment Market: Product Type Segment Analysis
- Topical Products
- Laser Treatment
- Surface Treatment
- Injectables
Global Scar Treatment Market: Scar Type Segment Analysis
- Atrophic Scars
- Hypertrophic And Keloid Scars
- Contracture Scars
- Stretch Marks
Global Scar Treatment Market: End-User Segment Analysis
- Hospitals
- Ambulatory Surgical Centers (ASC’s)
- Clinics
- Others
Global Scar Treatment Market: Regional Segment Analysis
- North America
- The U.S.
- Canada
- Rest of North America
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Mexico
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- Rest of the Middle East and Africa
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