High Incidence of Photo-aging to Create Opportunities for the Global Scar Treatment Market Through 2020, Reports Technavio

LONDON--()--Technavio analysts forecast the global scar treatment market 2016-2020 to grow at a CAGR of more than 10% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global scar treatment market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the five prominent vendors operating in the market.

Technavio chemicals and materials analysts highlight the following four factors that are contributing to the growth of the global scar treatment market:

  • Growth in emphasis on physical appearance
  • High incidence of photo-aging
  • Approval of dermal filler treatment
  • Increased emphasis on R&D

Growth in emphasis on physical appearance

The growing importance of personal grooming and beauty is one of the prime drivers for market growth. Nowadays, individuals are becoming increasingly aware of their personal appearance and aesthetic appeal. Changes in lifestyle, improved standards of living, and increased per capita income in emerging economies are compelling consumers to opt for scar treatment products and services.

Growing consumer awareness, especially in emerging economies, regarding the effectiveness of OTC scar treatment products is further fueling demand. “In addition, an increase in demand for multi-feature products such as moisturizing creams and sun protection with ingredients that offer anti-aging or anti-wrinkle properties are most likely to drive the market during the forecast period,” says Chandrakumar Badala Jaganathan, a lead analyst at Technavio for specialty chemicals research.

High incidence of photo-aging

The outermost layer of the skin is called the epidermis. The cells in this layer are supported by proteins called collagen, elastin, and other fibers. These proteins maintain the texture and appearance of the skin.

Chronic exposure of skin to ultraviolet (UV) light and pollution can lead to premature aging of the skin known as photo-aging and other skin-related problems. The characteristics of this condition are wrinkled, discolored skin, precancerous lesions, actinic keratosis, decreased skin elasticity, and sunburns. Increased levels of pollution and exposure to UV light owing to the depletion of the ozone layer have increased the incidence of these conditions.

Such skin problems if not treated properly lead to scar formation, thereby resulting in increased demand for scar treatment products. Increased consciousness among consumers worldwide about their appearance has led to the innovation of technologically advanced scar treatment. However, the high cost of scar treatment and risk of side effects associated with the same hinder market growth.

Approval of dermal filler treatment

The approval of dermal fillers by the FDA for the treatment of scars is another major driver for the market growth. Bellafill by Suneva Medical has been approved for use in the treatment of acne scars and has provided opportunities for market expansion.

Bellafill is currently the only approved filler for treating disfiguring skin conditions. The filler adds skin volume and aids treatment of atrophic scars and distensible acne scars. “Bellafill can be administered in a short duration of time and can be performed as an in-office process. These factors are likely to significantly benefit the adoption of the product,” says Chandrakumar.

Increased emphasis on R&D

There has been a significant increase in R&D expenditure by global vendors to develop new products. These players are undertaking these measures to reduce the cost of these products and ensure that they are affordable for consumers in the lucrative but price-sensitive markets in emerging economies. Companies are also focusing on the development of products that provide early results.

For instance, Fraxel, an advanced fractional resurfacing laser, does not ablate the skin surface. Conventional CO2 lasers provide uniform wavelengths of energy to all the areas along with the scarred area. However, the Fraxel laser has hundreds of microscopic pulsers that deliver pulses of varying wavelengths to produce controlled zones of damage to the skin. These pulses trigger the zones into producing new skin to replace it at a faster rate than the conventional laser systems. Further, the large exposure area of the skin in conventional systems increases the risk of infections, which is of negligible concern with the Fraxel laser.

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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global scar treatment market 2016-2020 to grow at a CAGR of more than 10% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com