Scar Treatment Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1856
Scar Treatment Market is expected to be one of the fastest growing verticals within the healthcare and medical devices domain, garnering substantial revenue over2021-2027. Growth of the market can be attributed to factors including technological advances in skincare, growing concerns about aesthetic appearance, and a notable uptick in the disposable income of consumers.
The increased rate of hospital admissions due to road accidents and burns is also a major factor propelling the demand for scar treatment. Road accidents lead to injuries such as lacerations and burns which often cause scarring. Increased spending on medical and aesthetic procedures to cover these scars will spur the market trends forward.
Acne is major skin condition which usually affects teenagers and young adults but can also occur in adults. Globally, the occurrence of acne has increased tenfold over the years. According to the American Academy of Dermatology (AAD), acne is among the most common skin conditions in the U.S., affecting more than 50 million individuals each year. These trends indicate that acne scar treatment products, solutions, and procedures will be in demand in the years to come. Acne market is set to experience consistent growth during the forecast timeframe.
North America market will record appreciable gains during the forecast timeline, led by the widespread occurrence of road accidents, injuries, and skin conditions such as acne. The respective governments have introduced supportive reimbursement policies for the treatment of skin conditions and scars. Governments and regulators are also undertaking various initiatives and funding manufacturers to accelerate the development of scar treatment products.
Smith and Nephew, Sonoma Pharmaceuticals, Merz Pharma GmbH & Co. KGaA, Hologic, and Lumenis are among the notable names in the global market. A variety of scar products and solutions are currently available in the market and these companies are constantly focusing on introducing new more advanced solutions. For instance, in February 2021, Lumenis had launched the latest skin rejuvenation technology ResurFX aimed to treat mild scarring along with other skin problems such as wrinkles, fine lines, and coarse skin.
How has COVID-19 impacted scar treatment market trends?
The coronavirus pandemic has impacted the industry forecast in numerous ways. Firstly, owing to lockdown measures and social restrictions, the number of invasive as well as non-invasive procedures for scar treatment such as laser treatment and injectable procedures witnessed a slight decline. Additionally, topical scar treatment products such as creams and gels witnessed fluctuating demand during a major part of 2020. Logistics and supply chain disruption also led to raw material shortages in many regions, affecting production.
However, as the pandemic progresses, the demand for topical products will witness an uptick, as many individuals are focused on treating scars and skin conditions at home amid lockdown restrictions. Also, since the outbreak of COVID-19, wearing face masks has become the new normal. Even after the COVID-19 pandemic, majority of individuals will continue to wear face masks in public places such as grocery stores, restaurants, malls, movie halls, and others. Maskne, or mask acne, has emerged as a common side effect of wearing masks regularly which can lead to redness, bumpiness, pimples, irritation, and potentially scars. This, in turn, could open up new opportunities for the market.
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