The Keloid Treatment Market Size is valued at USD 3.54 Bn in 2022 and is predicted to reach USD 4.72 Bn by the year 2031 at a 3.4% CAGR during the forecast period for 2023-2031.
Keloid management often requires a combination of treatments and prevention strategies, such as minimizing skin trauma and using silicone products, which may also play a role in reducing keloid formation and recurrence. Keloids are thickened formations of fibrous tissue that can arise in response to trauma, injury, or surgical intervention. Frequently, these manifestations surpass the confines of the initial trauma and may provide cosmetic inconveniences, as well as potential discomfort or pruritus in certain instances. The primary objective of treatment modalities for keloids is to diminish their dimensions, alleviate associated symptoms, and enhance the aesthetic look of the affected region.
The rise in the number of road accidents and burn cases, as well as technological developments and rising knowledge of the availability of aesthetic surgery, have all contributed to the industry's growth over the years. The global increase in traffic accidents and burn incidence is expected to drive the hypertrophic and keloid scar treatment market. Increased awareness of keloid scars, their influence on appearance and quality of life, as well as the availability of various treatment alternatives, have resulted in an increase in demand for effective keloid treatment procedures.
However, Supply chain disruptions caused by lockdowns and travel restrictions may have impacted the availability of medical supplies, drugs, and treatment devices needed for keloid treatments. Moreover, the process is expected to rise significantly when COVID-19 cases are reduced, and constraints are lifted. Many industry companies are pursuing various methods to capture the post-pandemic market, such as geographic expansion, cooperation, and mergers and acquisitions.
Competitive Landscape
Some Major Key Players In The Keloid Treatment Market:
- Novartis AG
- Sensus Healthcare
- RXi Pharmaceuticals, Inc.
- Sonoma Pharmaceuticals, Inc.
- Perrigo Company plc.
- Bristol-Myers Squibb Company
- Pacific World Corporation
- Valeant Pharmaceuticals International, Inc.
- Revitol Corporation
- Avita Medical Limited
- Hoffmann-La Roche Ltd. (Switzerland),
- Mylan N.V. (U.S.),
- Pfizer Inc. (U.S.),
- GSK plc (U.K.),
- Novartis AG (Switzerland),
- AstraZeneca (U.K.),
- Sun Pharmaceutical Industries Ltd. (India),
- Merck & Co., Inc. (U.S.),
- Lilly (U.S.),
- Renovo Group plc (U.K.),
Market Segmentation:
The Keloid Treatment Market is segmented on the basis of treatment and end-user. As per the treatment, the market is segmented as occlusive dressing, compression therapy, cryosurgery, excision, radiation therapy, laser therapy, interferon therapy, intralesional corticosteroid injections, and others. The end-user segment includes hospitals, dermatology clinics, ambulatory surgical clinics (ASCs), and others.
Based On Treatment, The Intralesional Corticosteroid Injections Segment Is Accounted As A Major Contributor In The Keloid Treatment Market.
The intralesional corticosteroid injections category is expected to hold a major share in the global Keloid Treatment Market in 2022. Intralesional corticosteroid injections are a regular and commonly utilized keloid therapy method. Corticosteroid medicines are injected directly into the keloid lesion during these injections. Intralesional corticosteroid injections have been demonstrated to be beneficial in lowering keloid scar size, thickness, and redness. They can flatten the keloid and make it less noticeable, which improves the appearance and reduces discomfort.
The Hospital Segment Witnessed Rapid Growth.
The segment, hospital, is projected to grow at a rapid rate in the global Keloid Treatment Market. Dermatology and plastic surgery departments are available at hospitals for individuals to acquire consultations and diagnostics for their keloid scars. Dermatologists and plastic surgeons evaluate the keloid's size, nature, and location to decide the best therapeutic method. Hospitals strive to provide patient-centered care by providing personalized treatment regimens that consider factors such as the patient's medical history, keloid features, and preferences.
In The Region, The North American Keloid Treatment Market Holds A Significant Revenue Share.
The North American Keloid Treatment Market is expected to record the maximum market share in terms of revenue in the near future. This is due to an increase in the incidence of accidents in this area. Furthermore, a growth in skin-related illnesses is likely to drive the market scope in North America. During the foreseeable years, Asia Pacific is expected to increase significantly. This is due to a growth in the number of burn cases, as well as the presence of a large population suffering from skin problems like acne. Furthermore, an increase in aesthetic surgery in this region is expected to boost market expansion.
Keloid Treatment Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 3.54 Bn |
|
Revenue Forecast In 2031 |
USD 4.72 Bn |
|
Growth Rate CAGR |
CAGR of 3.4% from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Bn and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
By Treatment, End-User |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Novartis AG, Sensus Healthcare, RXi Pharmaceuticals, Inc., Sonoma Pharmaceuticals, Inc., Perrigo Company plc., Bristol-Myers Squibb Company, Pacific World Corporation, Valeant Pharmaceuticals International, Inc., Revitol Corporation, F. Hoffmann-La Roche Ltd. (Switzerland), Mylan N.V. (U.S.), Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), AstraZeneca (U.K.), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (U.S.), Lilly (U.S.), Renovo Group plc (U.K.), and Avita Medical Limited. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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