The "Global Keloid Treatment Market 2020-2025 by Product, Type, End user, Geography and Impact of Covid-19 with Ansoff's Analysis" report has been added to ResearchAndMarkets.com's offering.
The global keloid treatment market is expected to reach USD 4.3 billion by 2025 and is expected to increase at a CAGR of 3.9 % during the forecast period from 2020 to 2025.
The global keloid treatment market is expected to grow due to the rapid development made in technological skincare products. Also, growing awareness among people regarding the availability of treatment options and other products available to cure keloid is a key factor in helping the keloid treatment market growth. The introduction of technologically advanced products, such as laser therapies, will also support market growth. These products help to reduce scars caused due to burns, trauma injuries, and surgery. These factors, coupled with a subsequent increase in the number of cosmetic procedures, has accelerated the demand for topical products.
Based on product type, the global keloid treatment market is segmented into Elastic Wraps, Sprays, Ointment, Creams, Oils, Topical Gels & Gel Sheets. In 2020, elastic wraps are expected to bear the fastest growth over the forecast period owing to its increase in demand and general use. Elastic wraps are widely used as a stretchable bandage to create localized pressure by segments of end-user of the keloid treatment market.
Based on treatment, the global keloid treatment market is segmented into ligature, radiation therapy, surgical treatment, laser treatment, steroid injections, corticosteroid injections (intralesional steroids), Silicone gel or sheeting, interferon. In 2020, the laser instruments segment is expected to exhibit the fastest growth over the forecast period as laser treatments are painless. Besides, they have numerous other benefits, such as minimized healing time and lesser adverse effects. Injectable held a significant share of the market in 2017, as they proved to be rapid and cost-effective alternatives.
Based on end-users, the global keloid treatment market is segmented into dermatology clinics, hospitals, ambulatory surgical centers. Hospitals generated the maximum revenue in 2020 due to the availability of a wide range of treatment options for scar removal. In case of emergencies, such as major accidents, hospitals are preferred for treatment as they provide care during the recovery period as well.
North America held the largest market share in the global keloid treatment market and is likely to witness steady development in the coming years. The high prevalence of burn injuries, skin-related disorders, and trauma are among the major factors responsible for market expansion. Moreover, the availability and adoption of advanced treatment options, such as laser treatments are estimated to support the growth.
Market Dynamics
Drivers
- Increase in the demand for aesthetics
- Growth in the number of road accidents and burn cases
- Increase in the availability of technologically advanced products
Restraints
- The high cost of laser-based products
Opportunities
- Emerging economies provide a pool of opportunities to market players
- Growing awareness among people regarding the availability of treatment options
- General preference for plastic surgeries due to technical advancement in treatment procedures.
Segments Covered
Keloid Treatment Market, By Product
- Elastic Wraps
- Sprays
- Ointment
- Creams
- Oils
- Topical Gels & Gel Sheets
Keloid Treatment Market, By Type
- Ligature
- Radiation Therapy
- Cry Therapy
- Surgical Treatment
- Laser Treatment
- Steroid Injections
- Corticosteroid injections (intralesional steroids)
- Silicone gel or sheeting
- Interferon
Keloid Treatment Market, by End User
- Dermatology clinics
- Hospitals
- Ambulatory surgical centers
- Others
Companies Mentioned
- Valeant
- RXi Pharamaceuticals
- Novartis
- Pacific World Corporation
- Smith & Nephew
- Enaltus
- Merz
- Lumenis
- Sonoma Pharmaceuticals
- Cynosure
- Scar Heal
- Molnlycke Health Care AB
- Perrigo Company plc
- NewMedical Technology
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View source version on businesswire.com: https://www.businesswire.com/news/home/20201028005803/en/
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