Asia-Pacific Hypertrophic and Keloid Scar Treatment Market
The Asia-Pacific includes countries, including China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. The region is the fastest-growing in the global hypertrophic and keloid scar treatment market. The market's growth is attributed to increasing hypertrophic and keloid scar treatment in countries such as China, Japan, and India. In comparison, countries such as Australia and South Korea are expected to offer vital growth opportunities due to increased research related to hypertrophic and keloid scars. The overall market's growth is driven by scar treatment developments, growing injuries, and development in the healthcare system that has adopted newer techniques to treat different types of scars. China is expected to be the fastest contributor to the growth of hypertrophic and keloid scar treatment. Chinese people serve great demand for scar treatment as burn, trauma, and plastic surgery are more. In January 2015, a consensus panel was established for treating the scars caused by burn/trauma, plastic surgery, and dermatological conditions. On the other hand, topical medicines are widely preferred in the country. The Chinese Herb Medicine published a research article in December 2020 for anti-hypertrophic scar ointment. The ointment is six-herb Chinese medicine composition (SCMC). It is expected to improve the blood circulation condition of hypertrophic scar tissues. Thus, it is likely to a promising treatment for the hypertrophic and keloid scar treatment. Therefore, owing to scar treatment and topical products, the market is expected to grow at a faster rate.
Asia-Pacific countries are expecting to witness a huge challenge due to the increasing prevalence of COVID-19. Due to the outbreak of disease, healthcare industries have been affected badly, considering the economic conditions in the current situation. Due to the increasing COVID-19 cases, the cost for many treatments has been lowered. Considering the economic operations and geographic condition, the outbreak of the disease has affected medical tourism, manufacturers of medical equipment, laser systems, accessories, and other problems posed by the shortage of healthcare infrastructure in Asia-Pacific low-income countries. After the first case in December 2019 in Wuhan, China, the COVID-19 has spread to at least 180 countries and regions. To prevent the spread of disease, restrictive measures have been taken in countries such as India, South Korea, Singapore, Malaysia, and the Philippines. According to the World Health Organization (WHO), due to the rapidly changing risk of COVID-19 affected countries and constantly controlling outbreak trends, any additional health measures are likely to interfere with international travel and trade significantly. Countries such as Japan and Australia are conducting virtual international conferences to anticipate the impact of COVID-19 on the cosmetic industry in the Asia Pacific. The ongoing COVID-19 pandemic has created a seismic shift in living and cosmetic habits in the region, and hypertrophic and keloid scar treatment has borne a significant brunt of this shopper shake-up. China is explicitly facing issues with the pandemic, leading to disruption of the supply chain and projected losses in revenue, marketing, and sales within all industries—especially the hypertrophic and keloid scar treatment—and the concerns of health within the production units and other public places.
Strategic insights for the Asia-Pacific Hypertrophic and Keloid Scar Treatment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 1,173.23 Million |
| Market Size by 2027 | US$ 2,455.28 Million |
| Global CAGR (2020 - 2027) | 11.1% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Scar Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia-Pacific Hypertrophic and Keloid Scar Treatment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The hypertrophic and keloid scar treatment market in Asia-Pacific is expected to grow from US$ 1,173.23 million in 2020 to US$ 2,455.28 million by 2027; it is estimated to grow at a CAGR of 11.1% from 2020 to 2027. Rising cases of injuries; injuries and their extension deep into the dermis are the major cause of hypertrophic and keloids scars. Injuries can be further classified as scratches, burns, cuts, gashes, sutures, surgical incisions, and so on. The prevalence rate of injuries ultimately converting to a keloid or hypertrophic scars is 5–15%. In addition, skin conditions such as acne and dark pigmentation also lead to hypertrophic and keloid scar development. The cases of different types of injuries are commonly seen among all age groups. Acne, sports injuries, and road accidents are more common among youngsters. Acne is also a common problem among middle-aged people, irrespective of their gender. The hormonal imbalance among people leads to acne, which might leave severe scars on skin. Acne is estimated to be affecting ~10% of the total global population. According to the WHO data published in February 2020, road accident-led injuries are the leading cause of death among young adults aged 5–29. ~1.35 million fatalities are registered per year due to road accidents. However, the rate of severe injuries by road accidents is also rising. Therefore, the increasing number of accidents is indirectly leading to the rising demand for hypertrophic and keloid scar treatments. This is bolstering the growth of the hypertrophic and keloid scar treatment market.
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 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.
A few major primary and secondary sources referred to for preparing this report on the hypertrophic and keloid scar treatment market in Asia-Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Alliance Pharma PLC
The Asia-Pacific Hypertrophic and Keloid Scar Treatment Market is valued at US$ 1,173.23 Million in 2020, it is projected to reach US$ 2,455.28 Million by 2027.
As per our report Asia-Pacific Hypertrophic and Keloid Scar Treatment Market, the market size is valued at US$ 1,173.23 Million in 2020, projecting it to reach US$ 2,455.28 Million by 2027. This translates to a CAGR of approximately 11.1% during the forecast period.
The Asia-Pacific Hypertrophic and Keloid Scar Treatment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Hypertrophic and Keloid Scar Treatment Market report:
The Asia-Pacific Hypertrophic and Keloid Scar Treatment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Hypertrophic and Keloid Scar Treatment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Hypertrophic and Keloid Scar Treatment Market value chain can benefit from the information contained in a comprehensive market report.
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