ID: MRFR/Pharma/5340-HCR | February 2023 | Region: Global | 90 Pages
Keloid Treatment Market is expected to register a CAGR of 3.30% and was valued at USD 1,172.1 Million.
$1,172.1 Million
3.30%
North America
2022-2030
Keloid Treatment Market Overview The keloid treatment market is expected to reach USD 1,172.1 Million by 2030 and is expected to increase at a CAGR of 3.30% during the forecast period 2022-2030. A keloid is a thickened scar that rises over the surrounding skin. It is usually pink or purple. Keloids are unevenly shaped scars that appear on the skin and grow in size over time. Keloids, unlike other scars, do not fade over time. According to the National Library of Medicine in the United States, keloid scarring affects people of all ages, although dark-skinned persons are more susceptible, with between 6% to 16% of African populations suffering from keloid skin disorders. Due to significant advancements in technology skincare products, the keloid treatment industry is likely to increase. The market is also rising as individuals become more aware of the various treatment methods and other items available to cure keloid. Additionally, increased spending on skincare products and services, as well as changing lifestyles, have all contributed to the Keloid Treatment Market's growth. However, the market is being driven by increasing awareness among patients, particularly females, about their looks. Clinics and hospitals are focused on the adoption of modern therapy alternatives as the demand for keloid treatment grows. Sensus Healthcare recently developed a superficial radiation therapy device to give better treatment with fewer side effects.
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.Â
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. Â
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
Market of Keloid Treatment, by Treatment
Market of Keloid Treatment, by End User
Market of Keloid Treatment, by Region
Recent Development
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | USD 1,172.1 Million |
CAGR | 3.80% |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2020 |
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 |
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The global keloid market is expected to reach a valuation of USD 1,172.1 Million by 2030.
The market is expected to exhibit a strong 3.30% CAGR over the forecast period from 2022-2030.
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.