Global Scar Treatment Market, by Product Type (Topical Scar Product (Gels, Creams, Oils, Sheets), Laser (CO2 Laser, Excimer Laser, Pulsed Dye Laser), Surface Treatment, Injectable), by Scar Type (Atrophic scars (Acne, Trauma and Surgery), Hypertrophic Scars and Keloids, Contractures, Stretch Marks), by End User (Hospitals, Clinics, Pharmacies and Drug Stores, E-Commerce), by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 12,020.5 Million in 2023 and is expected to exhibit a CAGR of 4.48% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The key players in the market are focusing on the adoption of inorganic growth strategies, such as partnerships and collaborations, in order to strengthen their market presence in the global scar treatment market, which is expected to drive the market growth over the forecast period. For instance, in March 2022, Alliance Pharma PLC, a leading international healthcare business, had bought a brand ScarAway from Perrigo Company plc, a registered manufacturer of private label over-the-counter pharmaceuticals, which will accelerate Alliance's strategy in the U.S.
Global Scar Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the global economies, social behaviors, and healthcare of every country in the world.
The COVID-19 pandemic affected the global economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regards to the transportation of drugs from one place to another.
The COVID-19 had a negative impact on the global scar treatment market, owing to the decreased number of surgical operations carried out in the COVID-19-pandemic. For instance, in August 2022, a study by Massachusetts General Hospital, which is a healthcare provider, has found that reductions in many types of surgical procedures precipitated by SARS-CoV-2 have not fully recovered to their pre-pandemic levels, resulting in severe backlogs and deferred surgeries that could have serious health care and cost implications for the future. Due to reduced number of surgeries, there is a decrease in the number of scar treatments.
Global Scar Treatment Market: Key Developments
In December 2022, Perrigo Company plc, a manufacturer of private label over-the-counter pharmaceuticals announced that it is ready to acquire HRA Pharma, a fast-growing consumer healthcare company. HRA is a star asset that will bring Perrigo a portfolio of market-leading over the counter self-care brands in growing categories, including blister care, women’s health and scar treatment.
In April 2022, GSK plc., one of the world's largest research-based pharmaceutical company, announced the acquisition of Sierra Oncology, Inc., a late-stage biopharmaceutical company, which will help to address the critical unmet medical needs of myelofibrosis patients with anemia.
In June 2022, Crown, a fully integrated specialty pharmaceutical company, finalized an agreement with Eclipse, a medical technology company, to acquire its global aesthetics-focused assets. Crown will integrate the Eclipse products into its Aesthetics business unit to complement its SkinPen Precision and other brands.
In April 2022, ARCHIMED, a global investment firm focused on driving the sustainable development of healthcare industries, announced the acquisition of Natus Medical Incorporated, a leading provider of healthcare products, which will grant ARCHIMED a wide range of medical devices and software systems spanning neurological, newborn and hearing care.
Browse 35 Market Data Tables and 32 Figures spread through 180 Pages and in-depth TOC on “Global Scar Treatment Market”- Forecast to 2030 by Product Type (Topical Scar Product (Gels, Creams, Oils, Sheets), Laser (CO2 Laser, Excimer Laser, Pulsed Dye Laser), Surface Treatment, Injectable), by Scar Type (Atrophic scars (Acne, Trauma and Surgery), Hypertrophic Scars and Keloids, Contractures, Stretch Marks), by End User (Hospitals, Clinics, Pharmacies and Drug Stores, E-Commerce), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/scar-treatment-market-1993
Key Takeaways of the Global Scar Treatment Market:
- The global scar treatment market is expected to exhibit a CAGR of 4.48% during the forecast period. Increasing adoption of inorganic growth strategies, such as acquisitions by key players in the market to expand product portfolio, is expected to drive the segment growth over the forecast period. For instance, in July 2022, Sinclair, a global medical aesthetics company, announces its acquisition of Viora, a leading aesthetic solutions brand, boosting its energy-based devices (EBD) portfolio and gaining direct commercial base in the U.S.
- Among product type, topical scar product segment is estimated to hold a dominant position in the global scar treatment market over the forecast period, owing to increasing product approvals by regulatory authorities. For instance, in July 2021, Sol-Gel Technologies Ltd., a clinical-stage specialty pharmaceutical company, announced the U.S. FDA Approval of its new product TWYNEO, which is the first FDA-approved fixed-dose combination of tretinoin and benzoyl peroxide
- Among region, North America is expected to be the dominant region in the global scar treatment market, owing to increasing product approvals by regulatory authorities which is expected to drive the segment growth over the forecast period. For instance, in July 2022, ILOODA, manufacturer of medical devices, announced that its product Secret Duo, has received U.S. FDA approval for its efficacious device for treating scarring.
- Major players operating in the global scar treatment market include 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.
