Scar Treatment Market – Analysis and Forecast To 2024 | Bausch Health, Merz Pharma GmbH & Co. KGaA.

The scar is a natural process of healing after an injury. There are different types of scars such as contracture scars, hypertrophic scars, acne scars, and keloid scars. The scar is treated with the help of over the counter drugs, injections, and surgical removal.

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The global scar treatment market is predicted to grow at 11.9% CAGR during the forecast period with the market size reaching USD 37.6 billion by 2024. Different types of products such as surface, laser, topical, and injectable are majorly contributing to the scar treatment market size. The market has witnessed significant demand for topical over the last few years due to cost effectiveness, easy application, easy availability, fewer side-effects, and to greater acceptance of creams and gels for healing scars, such as burns, acne, and surgical marks.

Owing to the mounting disposable income, the upsurge in personal care spending has resulted, which further increases the demand for treatment of scars. Some of the other key factors driving the growth of the industry are mounting awareness about the treatment of scars, mounting healthcare expenditure, an increasing number of road accidents, and escalating demand for organic products for the treatment of scars.

Key factors hindering the growth of the scar treatment market are the side effects of scare treatment products and therapies, and the high cost associated with scare treatment products.

Asia-Pacific is observed to witness significant growth in the scar treatment market during the forecast period, as the region comprises a large population. Moreover, mounting disposable income, mounting healthcare expenditure, improving healthcare infrastructure, expanding awareness regarding the treatment of scars, and escalating skin related problems are also facilitating the significant growth of Asia-Pacific scar treatment industry.

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Market players in the scar treatment industry are investing capital to develop technologically advanced systems. In April 2017, Sonoma Pharmaceuticals, Inc. received regulatory approvals for Epicyn Scar Hydrogel from the United Arab Emirates Ministry of Health & Prevention, for the management of scars. Hologic Inc., Sonoma Pharmaceuticals Inc., Avita Medical Limited, Smith & Nephew Plc, Scarguard Labs LLC, Mölnlycke Health Care AB., Bausch Health, Merz Pharma GmbH & Co. KGaA, and Johnson & Johnson are some of the key players offering solutions for scar treatment.

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