NEW YORK, July 19, 2017 (GLOBE NEWSWIRE) -- According to a new market research report “Global Scar Treatment Market Size, Share, Development, Growth and Demand Forecast to 2023 - Industry Insight by Type of Treatment (Injectable, Invasive Surgical) by Type of Scars (Post-surgical, Acne, Keloid & Hypertrophic, Contracture, Stretch Marks) and by End User (Hospital, Private Clinic, Pharmacy & Drug store and E-commerce)” published by P&S Market Research, the global scar treatment market is expected to grow at a CAGR of 10.0% during 2017 - 2023.
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According to the study, the global scar treatment market is likely to grow significantly during the forecast period, 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. This further results in sunburns, reduced skin elasticity, and hair loss. Skin diseases are also caused by various other factors, such as excessive alcohol consumption, environmental pollution, and consumption of tobacco. 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. However, side effects of scar treatment products and therapies and high cost associated with scar treatment are some of the key factors restraining the growth of global scar treatment market.
Geographically, North America was the largest market for scar treatment in 2016 and is expected to contribute 40.5% by 2023. This dominant position of the region is primarily attributable to high disposable income, which further increases spending on personal care products. Moreover, the increasing appearance consciousness among the population in the region has also led to a rise in the adoption of technologically advanced scar treatment products.
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According to the AAD, approximately 85% of the population in the U.S. suffers from acne, every year. The growing awareness about various technologies, which can enhance physical appearance of an individual is driving the demand for advanced scar treatment products in the U.S. The Asian scar treatment market is expected to grow at a faster rate as compared to the other regions, owing to growing focus on personal well-being, increasing disposable income and rising prevalence of skin related problems in the region.
Key players in the scar treatment market are collaborating and acquiring other players to offer more advanced solutions for scar treatment. In March 2017, Valeant Pharmaceutical International, Inc. announced the sale of its AcneFree, AMBI and CeraVe skincare brands to L’Oréal for $1.3 billion in cash. The transaction is expected to help the company to repay term loan debt under its senior credit facility.
Some of the other key players in the global scar treatment market are Smith & Nephew Plc, Syneron Medical Ltd., Mölnlycke Health Care AB, Shanghai Fosun Pharmaceutical (Group) Co. Ltd., Beijing Toplaser Technology Company Ltd., Merz GMBH & Co KGAA, Valeant Pharmaceuticals International Inc., Pacific World Corporation, Avita Medical Ltd. Enaltus LLC, Sonoma Pharmaceuticals Inc., CCA Industries Inc., Scarguard Labs LLC, Quantum Health, Hologic Inc.
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