Keloid Treatment Market Research Report - Global Forecast till 2027

Keloid Treatment Market Research Report: By Product (Elastic Wraps, Ointment), by Treatment (Radiation Therapy, Cry Therapy, Surgical Treatment, Laser Treatment, Laser Treatment, Interferon), by End-User (Hospitals and Others)—Forecast till 2027

ID: MRFR/Pharma/5340-HCR | February 2021 | Region: Global | 90 pages

Keloid Treatment Market

Keloid Treatment Market is expected to register a CAGR of 3.8 % and was valued at USD 1,172.1 Million.

Segmentation

By Product Elastic Wraps Ointment
By Treatment Radiation Therapy Cry Therapy Surgical Treatment Laser Treatment Laser Treatment Interferon
By End User Hospitals and Others

Key Players

  • Novartis AG
  • RXi Pharmaceuticals
  • Inc.
  • Sonoma Pharmaceuticals
  • Inc.
  • Bristol-Myers Squibb Company
  • Pacific World Corporation
  • Valeant Pharmaceuticals International
  • Inc.
  • Revitol Corporation
  • Avita Medical Limited
  • Sensus Healthcare
  • Perrigo Company plc.

Drivers

  • Rapid rise in the technological scenario behind skin care products
  • Treatment type - Intralesional steroids injection
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Keloid Treatment Market Scenario:


The keloid treatment market is expected to reach USD 3.9 billion by 2023 and is expected to increase at a CAGR of 3.5 % during the forecast period from 2018 to 2023. 


A keloid is a tough heaped-up scar that rises above the rest of the skin. It usually has a pink or purple color. Keloids have irregularly shaped scar that develops on the skin and enlarges progressively. Unlike other scars, keloids do not revert over time. According to the US national library of medicine, keloid formation is seen in individuals of all ages but dark-skinned people are more susceptible to keloid scar and about 6% to 16% in African populations is suffering from keloid skin problems.


The keloid treatment market is expected to grow due to rapid development made in technological skin care products. Also growing awareness among people regarding the availability of treatment options and other products available to cure keloid is growing the market. Additionally, rising expenditure on skin care product, services and changing lifestyle have also significantly contributed to the expansion of market. However growing consciousness among patients particularly females regarding their appearance is also driving the market. As there is an increasing demand for keloid treatment, clinics and hospitals are focusing on adoption of advanced therapy options. Recently Sensus Healthcare has come up with a superficial radiation therapy device to provide better treatment with limited adverse reactions.  


However, this market is being hindered by the possible side effects of keloid treatment, the high cost of various treatment options, and the risk of pain and barriers during treatment.


Key players:


Some of the key players in the keloid treatment market are Novartis AG, RXi Pharmaceuticals, Inc., Sonoma Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Pacific World Corporation, Valeant Pharmaceuticals International, Inc., Revitol Corporation, Avita Medical Limited, Sensus Healthcare, Perrigo Company plc.


Market Segmentation:


The keloid treatment market is segmented into product type, treatment, and end-users.


Based on product type the market is segmented into elastic wraps, spray, ointment, creams, oils, topical gels & gel sheets.


Based on treatment market for keloid has been segmented into ligature, radiation therapy, cry therapy, surgical treatment, laser treatment, steroid injections, corticosteroid injections (intralesional steroids), silicone gel or sheeting, occlusive dressing, compression therapy, and interferon. Corticosteroid injections treatment segments lead the keloid treatment market as this treatment is used in combination with other therapies. Intralesional steroids injection is considered to be the second largest segment of treatment type that drives market.


On the basis of end-users, the keloid treatment market is segmented into dermatology clinics, hospitals, ambulatory surgical centers. Hospital is expected to hold the largest share in the segment market of end-users as most doctors prefer radiation therapy which has reported safe and effective use of radiation to treat keloid.


The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.


The European keloid treatment market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. 


The market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market in the Middle East & Africa has been segmented into the Middle East and Africa.


Regional Market Summary


Geographically, North America dominates the keloid treatment market and is expected to continue to dominate the market throughout the forecast period. Clinics in North America are adopting advanced technologies for the treatment of keloid. Development of new technologies, product, alternative treatment and high disposable income of people in this region is responsible for the rapid growth of the keloid treatment market in this region.


Europe is the second largest market in the globe owing to the increasing awareness among people, favorable reimbursement scenario for skin treatment, increasing government expenditure for skin care product, the presence of disposable income and increasing demand for the cosmetic product.


Asia-Pacific is anticipated to be the fastest growing market owing to the growing prevalence of skin caries, increased focus on appearance and aesthetic in the developing countries, rising population, increasing disposable income, and growing healthcare expenditure are anticipated to increase the keloid treatment market in Asia-Pacific.   


The Middle East & Africa is expected to account for the lowest market share in the keloid treatment market due to low development, lack of technical knowledge, and poor medical facilities in developing economies in this region.


Global Keloid Treatment Market Share (%), by Region, 2017


Source: Food and Drug Administration (FDA), Centers for Disease Control and Prevention (CDC), American College of Prosthodontists


Market of Keloid Treatment, by Product Type



  • Elastic Wraps

  • Sprays

  • Ointment

  • Creams

  • Oils

  • Topical Gels & Gel Sheets


Market of Keloid Treatment, by Treatment



  • Ligature

  • Radiation Therapy

  • Cry Therapy

  • Surgical Treatment

  • Laser Treatment

  • Steroid Injections

  • Corticosteroid injections (intralesional steroids)

  • Silicone gel or sheeting

  • Interferon


Market of Keloid Treatment, by End User



  • Dermatology clinics

  • Hospitals

  • Ambulatory surgical centers

  • Others


Market of Keloid Treatment, by Region



  • Americas


    • North America


      • US

      • Canada


    • South America




  • Europe


    • Western Europe


      • Germany

      • France

      • Italy

      • Spain

      • UK

      • Rest of Western Europe


    • Eastern Europe




  • Asia Pacific


    • Japan

    • China

    • India

    • Australia

    • Republic of Korea

    • Rest of Asia Pacific




  • Middle East & Africa


    • Middle East

    • Africa



Intended Audience



  • Manufacturers and Suppliers

  • Dermatology Hospitals and Clinics

  • Dermatology laboratories and associations

  • Research and development centers



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 3.9 Billion
  CAGR   3.5 % (2018 to 2023)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Billion)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Product, Treatment, End-User
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Novartis AG, RXi Pharmaceuticals, Inc., Sonoma Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Pacific World Corporation, Valeant Pharmaceuticals International, Inc., Revitol Corporation, Avita Medical Limited, Sensus Healthcare, Perrigo Company plc.
  Key Market Opportunities   Increasing research & development investments by industry players
  Key Market Drivers

  • Rapid rise in the technological scenario behind skin care products
  • Treatment type - Intralesional steroids injection


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    Frequently Asked Questions (FAQ) :

    The global keloid market is expected to reach a valuation of USD 3.9 billion by 2023.

    The market is expected to exhibit a strong 3.5% CAGR over the forecast period from 2020-2027.

    The rapid rise in the technological scenario behind skin care products is the major driver for the global keloid treatment market.

    North America is the dominant regional market for keloid treatment.

    Leading players in the keloid treatment market include Valeant, RXi Pharmaceuticals, Novartis, and Pacific World Corporation, among others.