Worldwide Keloid Treatment Industry to 2026 - Growing Awareness Among People Regarding the Availability of Treatment Options Presents Opportunities - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Keloid Treatment Market (2021-2026) by Product, Type, End user, Geography and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.

A keloid is a tough heaped-up scar that rises above the rest of the skin, generally pink or purple. Keloids have irregularly shaped scar that develops on the skin and enlarges progressively. According to the American Burn Association, in 2016, more than 40,000 hospitalizations resulted from burn injuries. This leads to increased demand for hypertrophic and keloid scar treatments.

The global keloid treatment market is expected to grow due to the rapid development made by the technologically upgraded skincare products. Also, growing awareness amongst the people regarding the availability of treatment options and other products available to cure keloid is a key factor in helping the keloid treatment market growth. The introduction of technologically advanced products, such as laser therapies, will also support market growth. These products help to reduce scars caused due to burns, trauma injuries, and surgery. These factors, coupled with a subsequent increase in the number of cosmetic procedures, has accelerated the demand for topical products.

Segments Covered

Based on product type, the global keloid treatment market is segmented into Elastic Wraps, Sprays, Ointment, Creams, Oils, Topical Gels & Gel Sheets. In 2020, elastic wraps are expected to bear the fastest growth over the forecast period owing to its increase in demand and general use. Elastic wraps are widely used as a stretchable bandage to create localized pressure by segments of end-user of the keloid treatment market.

Based on treatment, the global keloid treatment market is segmented into ligature, radiation therapy, surgical treatment, laser treatment, steroid injections, corticosteroid injections (intralesional steroids), Silicone gel or sheeting, interferon. In 2020, the laser instruments segment is expected to exhibit the fastest growth over the forecasted period as laser treatments are comparatively painless. Besides, they have numerous other benefits, such as minimized healing time and lesser adverse effects. Injectable held a significant share of the market in 2017, as they proved to be rapid and cost-effective alternatives.

Based on end-users, the global keloid treatment market is segmented into dermatology clinics, hospitals, ambulatory surgical centers. Hospitals generated the maximum revenue in 2020 due to the availability of a wide range of treatment options for scar removal. In case of emergencies, such as major accidents, hospitals are the preferred choice of treatment as they provide care during the recovery period as well.

North America held the largest market share in the global keloid treatment market and is likely to witness steady development in the coming years. The high prevalence of burn injuries, skin-related disorders, and trauma are among the major factors responsible for market expansion. Moreover, the availability and adoption of advanced treatment options, such as laser treatments are estimated to support the growth.

Company Profiles

Some key players operating in the hypertrophic and keloid scar treatment market include Valeant, RXi Pharmaceuticals, Novartis, and Pacific World Corporation, Smith & Nephew PLC, Enaltus, LLC, Merz, Inc, Lumenis, Sonoma Pharmaceuticals, Cynosure, Inc, Scar Heal, Inc., Molnlycke Health Care AB, and Perrigo Company plc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Keloid Treatment Market.
• The report includes in-depth qualitative analysis, verifiable data from authentic sources and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys and observation of renowned personnel in the industry.
• The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
• The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market

Market Dynamics

Drivers

• Increase in the demand for aesthetics
• Growth in the number of road accidents and burn cases
• Increase in the availability of technologically advanced products

Restraints

• The high cost of laser-based products

Opportunities

• Emerging economies provide a pool of opportunities to market players
• Growing awareness among people regarding the availability of treatment options
• General preference for plastic surgeries due to technical advancement in treatment procedures.

Companies Mentioned

• Valeant
• RXi Pharamaceuticals
• Novartis
• Pacific World Corporation
• Smith & Nephew
• Enaltus
• Merz
• Lumenis
• Sonoma Pharmaceuticals
• Cynosure
• Scar Heal
• Molnlycke Health Care AB
• Perrigo Company plc
• NewMedical Technology

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