July 13, 2024

Scar Treatment Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2030

Market Overview:

The scar treatment market deals with products used for the treatment and management of scars. Scars occur due to injury, burns, or surgical procedures. Various scar treatment products such as topical agents, laser treatment devices, surface treatment devices, and injectable are used to diminish the appearance of scars. Laser treatment devices utilize technologies such as fractional laser, picosecond laser, and LED for scar reduction. Topical agents include silicone gel sheets, creams, gels and oils containing ingredients like panthenol and vitamin E that nourish the skin and promote collagen production.

The global Scar Treatment Market is estimated to be valued at US$ 12,020.5 Mn in 2023 and is expected to exhibit a CAGR of 4.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/scar-treatment-market-1993

Market key trends:

Rising demand for non-invasive aesthetic procedures is a major trend in the scar treatment market. Laser treatments are gaining popularity for scar reduction due to advantages like minimal side effects and potential for scar removal with minimal sessions. Technological advancement in lasers allowing precise treatment with reduced treatment duration and enhanced efficacy is boosting their adoption. For instance, fractional laser with picosecond and femtosecond pulses enables effective collagen remodeling with reduced risk of adverse effects. Furthermore, availability of at-home scar treatment products is witnessing high demand. Self-care products for scar management provide discreet treatment option and convenience of use.

Porter’s Analysis

Threat of new entrants: Low capital requirements and less regulations in the scar treatment market attract new players. However, the presence of major established players makes it difficult for new entrants to gain significant market share.
Bargaining power of buyers: Buyers have high bargaining power due to availability of alternative treatment options. Buyers can bargain for prices with different providers.
Bargaining power of suppliers: The scar treatment market has significant number of raw material suppliers which ensures low bargaining power of suppliers.
Threat of new substitutes: Emergence of alternative non-invasive scar treatment techniques like laser treatment poses threat. However, scars demand treatment which offers substitutes limited threat currently.
Competitive rivalry: The scar treatment market comprises large number of global as well as local players. Intense competition exists among players to gain higher market share through product innovation.

Key Takeaways

The global scar treatment market is expected to witness high growth, exhibiting CAGR of 4.4% over the forecast period, due to increasing prevalence of accidents and chronic skin disorders.
North America dominates the scar treatment market owing to rising awareness about scar treatment options and availability of advanced treatment procedures in the region. However, Asia Pacific is expected to exhibit fastest growth during the forecast period supported by growing medical tourism industry and rising disposable income.

Key players operating in the scar treatment market are Bausch Health Companies Inc., Candela Medical, Perrigo Company plc, Sonoma Pharmaceuticals Inc., Hologic Inc., Johnson & Johnson Services Inc., Quantum Health, CCA Industries Inc., AVITA Medical, Revitol Corp, Scarguard labs, Smith+Nephew, Lumenis Be Ltd, Merz Therapeutics, Cynosure, HRA Pharma, GC Aesthetics, Sientra Inc., SkinCeuticals, Cimeosil.com, Honeydew Products, 3V Sigma USA Inc., Syneron Medical Ltd. Bausch Health Companies Inc. dominates the scar treatment market followed by Smith + Nephew owing to their diverse product portfolio and strong geographic presence across the globe.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it