Market Introduction
The North American hypertrophic and keloid scar treatment market is segmented into countries, including the US, Canada, and Mexico. The US held the largest share of the North American hypertrophic and keloid scar treatment market in 2019. The growth of the market in the region is attributed to the increasing developments of the hypertrophic and keloid scar treatment products, rising research and developments to understand the hypertrophic and keloid scar, rising incidences of these scars among younger people, and growing aesthetic industry. The US is expected to be the largest market for hypertrophic and keloid scar treatment. The growth is attributed to the companies' various developments, growing incidences of hypertrophic and keloid scar, burning incidences, and growing awareness about laser therapy and topical products. Companies are continuously delivering innovative products with the positive clinical trial results of their products. For instance, in January 2020, Soliton, Inc. announced its Rapid Acoustic Pulse (RAP) Device's positive results. The device is intended for the treatment of fibrotic keloid and hypertrophic scars. Such developments in the market are likely to foster the growth of the market during the forecast period. Similarly, the demand for over the counter topical products is increasing. As the products are available without a prescription, the demand for the products is increasing. On the other hand, the incidences of a keloid scar are seen among young people between the ages of 10–30years. The majority of keloid scars are developed by the people undergoing piercing. Moreover, the prevalence of keloid scars is among the Hispanic and African-American populations. According to a research paper, 'Triamcinolone acetonide intralesional injection for the treatment of keloid scars: patient selection and perspectives,' published in May 2018, the prevalence rate is 5–16% among the Hispanic and African-American populations. Also, the country's growing population is expected to increase the incidences of keloid and hypertrophic scars. Thus, it is likely to foster the growth of the market during the forecast period.
North America is witnessing a growing number of COVID-19 cases; for instance, the number of cases increased to 400,549 with 12,857 deaths reported in the US. Additionally, Mexico and Canada cases are also growing. The global impacts of COVID-19 have affected several markets, including the hypertrophic and keloid scar treatment market. Although the healthcare sector has witnessed H1N1, SARS, and additional outbreaks in the last few years, the COVID-19 virus has made the situation more difficult due to its transmission mode. Since the outbreak of COVID-19, North America has been witnessing a growing number of COVID-19 cases. Several measures are being taken to restrain the disease and prevent transmission; nevertheless, the excessive number of COVID-19 cases has resulted in the cancellation of doctor's appointment and decreased demand for elective hypertrophic and keloid scar treatment to the long period of lockdown. In the US, due to the growing number of contaminated patients, healthcare practitioners and leading organizations are distracting the flow of health services from research and development to primary care, which slows down the process of innovation.
Market Overview and Dynamics
The hypertrophic and keloid scar treatment market in North America is expected to grow from US$ 1,972.60 million in 2020 to US$ 4,053.90 million by 2027; it is estimated to grow at a CAGR of 10.8% from 2020 to 2027. Emerging treatments modalities; at present, there are various treatments available to treat hypertrophic and keloid scars. The emerging treatments are based on stem cell therapy, verapamil, mitomycin C (MMC), interferons, bleomycin, ACE inhibitors, and botulinum toxin type A. Most of these treatments have shown promising results. On the other hand, the topical products are being used to reduce the thickness of scars and lighten them as they are esthetically unpleasing. However, laser treatment and radiotherapy are associated with side effects, and they do not heal the scars completely. Therefore, researchers are continuously studying these treatments and are yet to derive a standard treatment for hypertrophic and keloid scars. Likewise, manufacturers are also engaged in developing products such as extracellular matrix that control the proliferation of collagen, thereby preventing the excess deposition of the same. Keloid scars can also be related to genetic factors; hence, they are considered major clinical challenges. Therefore, the ongoing research and developments are likely to provide preventive measures and extraordinary treatments for hypertrophic and keloid scars treatment during the forecast period. This is bolstering the growth of the hypertrophic and keloid scar treatment market.
Key Market Segments
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.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the hypertrophic and keloid scar treatment market in North America 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, Mölnlycke Health Care AB., Smith & Nephew, Newmedical Technology Inc., Rejûvaskin, Sonoma Pharmaceuticals, Inc, Suneva Medical, HRA Pharma and Perrigo Company plc among others.
Reasons to buy report
NORTH AMERICA HYPERTROPHIC AND KELOID SCAR TREATMENT MARKET SEGMENTATION
By Scar Type
By Product Type
By End User
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 1,972.60 Million |
| Market Size by 2027 | US$ 4,053.90 Million |
| CAGR (2020 - 2027) | 10.8% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Scar Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Hypertrophic and Keloid Scar Treatment Market is valued at US$ 1,972.60 Million in 2020, it is projected to reach US$ 4,053.90 Million by 2027.
As per our report North America Hypertrophic and Keloid Scar Treatment Market, the market size is valued at US$ 1,972.60 Million in 2020, projecting it to reach US$ 4,053.90 Million by 2027. This translates to a CAGR of approximately 10.8% during the forecast period.
The North America Hypertrophic and Keloid Scar Treatment Market report typically cover these key segments-
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The North America 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:
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Essentially, anyone involved in or considering involvement in the North America Hypertrophic and Keloid Scar Treatment Market value chain can benefit from the information contained in a comprehensive market report.
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