Global Keloid Treatment Market is estimated to be valued at US$ XX Mn in 2019 and is projected to be value at US$ XX Mn by 2028, and register CAGR of X.X% over the forecast period. The global keloid treatment market report has been segmented on the basis of treatment type, end user, and region.
Keloid is an overgrown scar that rises above the skin level as it is growth of extra scar tissue on the healed skin area post-surgery, burn, or an injury. Keloids mostly form on hands, legs, neck, however they can form anywhere else as well. Although the reason for formation of keloids is not well known, various factors can play important role in determining the reasons for its formation including age, gender, blood group, type of wound, anatomical site, number of sites injured, family history. In addition, other reasons that could be responsible for keloid and in predicting behavior of the keloid while diagnosis or treatment include delayed healing of the wound, and hypertension.
According to NCBI, darker skinned population such as Africans, Hispanic and Asians have possibly higher tendency of developing keloid as compared to population of Caucasian race. Incidence rate in the dark pigmented individuals ranges from 4.5% to 16%.
Currently, there are various treatment available such as laser treatment, surgery, steroids, cryotherapy, etc. Moreover, individual who do not want to go for surgeries or laser treatment can easily avail silicone gel sheets, Vitamin E creams, etc. to reduce the scar visibility to a certain extent.
Market Drivers and Challenges
Growing awareness regarding esthetic appeal, especially among female population, is expected to drive growth of the keloid treatment market. In addition, rising number of accidents, burns, injuries, coupled with rising number of individuals with keloids disorder is another key factor expected to drive growth of the market. Increasing spending capacity of the individuals, especially in emerging countries is supporting growth of the target market to a significant extent. Moreover, easy availability of products such as silicone gel sheets, oils etc. is expected to support growth of the market.
However, high cost associated with keloid treatment is a major factor that could restraint growth of the target market to a certain extent.
Among the treatment type segments, the intralesional corticosteroid injection and laser therapy segments are expected to account for higher shares in terms of revenue, owing to painless and reliable treatment options with better results compared to other treatment options.
By End User:
Among the end user segments, the hospital segment is expected to account for significant revenue share in terms of revenue in the target market, owing to high patient footfalls in the hospitals for any treatment as hospitals are highly preferred over other treatment centers.
The market in North America is expected to dominate in the global market in terms of revenue over the forecast period, owing to high prevalence of keloid patients and high adoption of keloid treatment and related products, coupled with consciousness regarding appearance among population in countries in the region. The market in Asia Pacific is expected to register significant growth rate in terms of revenue in the global market, owing to rising awareness regarding esthetic appeal and increasing spending capacity for personal grooming. Moreover, rapidly growing medical tourism industry in countries such as China, japan, and India in the region is another key factor supporting growth of the keloid treatment market in the region. The market is Europe is projected to follow the Asia Pacific market in terms of growth.
Company Analysis and News
Various major companies have been taking strategic steps such as mergers, acquisitions, expansion of business units, product development, and expansion of product portfolio in order to make their brand visible and increase their customer base.
In 2017 for instance, Merz North America, Inc. had announced launch of its new line of products for treatment of scars – Mederma Quick Dry Oil, and Mederma Spezial.
Global Keloid Treatment Market Segmentation:
Segmentation by Treatment Type:
- Occlusive dressing
- Compression therapy
- Radiation therapy
- Laser therapy
- Interferon therapy
- Intralesional corticosteroid injection
- Others (dermal fillers, topical creams, 5-fluorouracil, retinoic acid and imiquimod)
Segmentation by End User:
- Dermatology clinics
- Ambulatory surgical centers
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Novartis AG
- Sensus Healthcare
- RXi Pharmaceuticals, Inc.
- Sonoma Pharmaceuticals, Inc.
- Perrigo Company plc
- Bristol-Myers Squibb Company
- Pacific World Corporation
- Valeant Pharmaceuticals International, Inc.
- Revitol Corporation
- Avita Medical Limited
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