Topical Scar Treatment Products on the Verge of Losing Popularity Despite Dominance in Global Atrophic Scar Treatment Market
According to a recently conducted research by Persistence Market Research titled “Atrophic Scar Treatment Market: Global Industry Analysis 2012 – 2016 and Forecast 2017 – 2025,” the global atrophic scar treatment market is expected to witness moderate growth during an eight-year forecast period 2017-2025. Over the assessment period, the market is likely to thrive at a CAGR of 4.6%.
In 2017, global sales of atrophic scar treatments registered revenue worth a value of US$ 4.65 Bn in 2017, which is anticipated to reach beyond US$ 6.5 Bn by the end of 2025.
“Popularity of lasers and injectables will surge over the years, compared to other product types such as topical scar products and surface treatment.
Although topical scar products will retain dominance during 2017-2025 with more than 50% market value share, a gradual decline can be observed with time. While laser therapy is foreseen to emerge popular among wealthy consumers, injectable products will also witness a positive market outlook.
Higher treatment costs will persist as a major adoption challenge though”, reports a healthcare market research analyst at Persistence Market Research.
When it comes to end-user analysis, hospitals are expected to remain dominant with over 35% market value share in 2025. Clinics and pharmacies and drug stores are anticipated to witness stable growth, whereas E-Commerce is likely to emerge popular owing to increasingly growing adoption of online technologies by consumers worldwide.
In addition to growing demand for atrophic scar treatment, the market will experience a major thrust from the changing regulatory landscape in both developed and developing countries. Growing prevalence of skin disorders, increasing demand for sophisticated treatments, persistent product innovations, higher preference for personal care, and surging demand for age-defying treatments are also identified to predominantly fuel revenue growth of the global atrophic scar treatment market.
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The regional assessment of global atrophic scar treatment market indicates continued dominance of the North America regional market, followed by Asia Pacific and Europe. By the end of 2025, the North America market for atrophic scar treatment is foreseen to exceed a value of US$ 2.6 Bn.
APAC will be led by China, India, and Japan, whereas the Latin America market will be spearheaded by Brazil. Latin America is expected to emerge as the fastest growing regional market for atrophic scar treatment in the coming years.
Key Players to Focus on Direct Feedback Analysis to Incorporate “Voice of Customer”
Among the key players operating in the global landscape of atrophic scar treatment, maximum companies are identified to concentrate more on the direct feedback analysis strategy in a bid to incorporate the “voice of customer”. Others are focusing on enhancing their core competencies and gaining an expanded market share by launching new products in the marketplace.
Some of the leading companies include Smith & Nephew Inc., Merz inc., CCA Industries Inc., Avita Medical Limited, Occulus Innovative Sciences, Inc., Pacific World Corp., Valeant Inc., Enaltus LLC, Molnlycke Health Care, Cynosure, Inc., Sonoma Pharmaceuticals, Inc., Shanghai Fosun Pharmaceuticals (Alma Lasers), and LUMENIS.
The global market value for atrophic scar treatment is expected to register 1.3x growth during 2017-2025
Topical scar treatment products may lose popularity gradually, owing to growing consumer preference for laser therapies and injectable products
North America’s dominance is expected to prevail; however, Latin America will witness the fastest growth
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