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Scar treatment products such as creams, gels, silicone sheets, laser treatment and surgery play a vital role in improving appearance and removing scars from the skin caused due to injuries, accidents, acne, and surgery. Scars can significantly hamper self-esteem and confidence. Scar treatment products minimize scarring, reduce inflammation, and help smooth the skin texture. Creams are extensively used as they contain moisturizing ingredients and antioxidants that help hydrate and condition the skin. Silicone gel sheets are also widely adopted as they help flatten scars by continuous application. The global Scar Treatment Market is estimated to be valued at US$ 12,020.05 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.
Market key trends: One of the emerging trends in the scar treatment market is the growing popularity of lasers. Laser therapies help improve the appearance of scarred skin by reducing scar width, thickness, and color. Advancements in laser technology such as fractional laser resurfacing allow for more targeted treatment of scars with minimal damage to surrounding healthy tissue. This has increased the adoption of laser treatments for scar reduction. Another key trend is the rise of scar treatment products containing stem cell and growth factors. These help stimulate collagen production and regeneration of scarred areas. For instance, Revitol’s Cellular Rejuvenation Scar Cream contains stem cells that expedite repair of collagen fibers, resulting in smoother and softer skin. The availability of such innovative products is fueling market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the scar treatment market is moderate. The capital investments required to set up treatment facilities and to gain brand recognition is moderately high. New entrants also have to compete with established players to gain market share.
Bargaining power of buyers: The bargaining power of buyers is moderate. There exists a wide range of scar treatment products and services offered by various companies. Buyers can choose treatment products based on pricing and effectiveness.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. There exist numerous suppliers providing raw materials and components required for scar treatment products. The suppliers also do not have control over the distribution channels or retail prices.
Competitive rivalry: The competitive rivalry in the scar treatment market is high. The presence of numerous established as well as new players offering a variety of treatment options intensifies the competition. Players compete based on product innovation, pricing, promotional activities, and brand recognition.
Key Takeaways
The global scar treatment market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional analysis: North America dominates the scar treatment market owing to the rising number of cosmetic procedures and trauma injuries in the region. The Asia Pacific region is expected to register the fastest growth in the market attributed to growing medical tourism industry and increasing aesthetic consciousness among consumers.
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. The companies compete based on product differentiation, new product launches, and expansion of geographical footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
