Hospitals Segment to Dominate South and Central America Hypertrophic and Keloid Scar Treatment Market during 2018–2027

According to a new market research study on “South and Central America Hypertrophic and Keloid Scar Treatment Market to 2027 – COVID-19 Impact and Analysis and Forecast by Scar Type, Product Type, and End User,” is expected to reach US$ 477.69 million by 2027 from US$ 248.42 million in 2020. The market is estimated to grow at a CAGR of 9.8% from 2020 to 2027. The report provides trends prevailing in the South and Central America hypertrophic and keloid scar treatment market along with the drivers and restraints pertaining to the market growth. Emerging treatments modalities is the major factor driving the growth of the South and Central America hypertrophic and keloid scar treatment market. However, unavailability of universal treatment due to high costs, side effects, and scanty awareness may hinder the growth of South and Central America hypertrophic and keloid scar treatment market.     

South and Central America has witnessed a growing number of cases of COVID-19 since its outbreak. For example, according to the Worldometer, the number of cases reached 13,382,026, with 366,256 recorded deaths in South America as of January 2021. In Brazil, the first case of COVID-19 was confirmed on February 26, 2020, and now, the cases have reached 7,754,560, with 196,591 deaths. Argentina and Colombia reached 1,648,940 and 1,686,131 cases of COVID-19 as of January 2021. COVID-19 is predicted to result in the region's worst recession, causing the region's GDP to contract by 9.1% in 2020. This is projected to increase the number of poor by 45 million and the highly poor by 28 million. The COVID?19 pandemic is a vital test for the still overburdened and underfunded public health systems of South and Central America. Moreover, it will decrease imports due to disruptions in global trade, further increasing the scarcity of medical supplies and other goods, resulting in a significant price increase.

The market for hypertrophic and keloid scar treatment market is segmented into scar type, product type, end user, and country. Based on scar type, the hypertrophic and keloid scar treatment market is segmented into hypertrophic and keloid. The hypertrophic segment held the largest share of the market in 2019. Based on product type, the hypertrophic and keloid scar treatment market is segmented into laser products, topical products, injectables, and other products. The injectables segment held the largest share of the market in 2019. Based on topical products market is segmented into gels, silicone sheets, creams, other. Based on laser market is segmented into CO2, pulse-dyed, other. Based on end user, the hypertrophic and keloid scar treatment market is segmented into hospitals, clinics, and homecare. The hospitals segment held the largest share of the market in 2019. Based on country, the market is segmented into the Brazil, Argentina, and rest of South and Central America. Brazil held the largest share of the market in 2019.

Alliance Pharma PLC, Mölnlycke Health Care AB., Smith & Nephew, Newmedical Technology Inc., Sonoma Pharmaceuticals, Inc, Suneva Medical, HRA Pharma and Perrigo Company plc are among the leading companies in the South and Central America hypertrophic and keloid scar treatment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2018, Sonoma Pharmaceuticals, Inc. has revealed recently published findings from a report on the use of patented Performance Stabilized HOClTM (hypochlorous acid) for scar management.

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