The North America scar treatment market comprises products such as topical products, laser products, injectable products, and other scar treatment products. These products are used for the treatment of scars such as surgical scars, acne scars, keloid scars, contracture scars, and hypertrophic scars. Topical scar products include gels, creams, and ointments containing active ingredients such as silicone, retinoids, antioxidants, and vitamin E that help in minimizing the appearance of scars. Laser products utilize laser energy to vaporize water in scar tissue, breaking down scar tissue. Injectable products are administered directly into the scar to break down and soften scar tissue. Some injections contain corticosteroids, 5-fluorouracil, or collagenase.
The North America Scar Treatment market is estimated to be valued at US$ 4348.7 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing healthcare spending is one of the major drivers providing opportunity for growth of the North America scar treatment market. According to the Centers for Medicare and Medicaid Services, healthcare spending is expected to reach $6.19 trillion in 2028, up from $3.8 trillion in 2018, growing annually at a rate of 5.5%. Increase in medical tourism to North America will drive the demand for scar treatment procedures in the region. Also, presence of leading manufacturers focusing on continuous innovation through extensive research and development to develop affordable and effective treatment options will support market growth during the forecast period. However, lack of reimbursement policies for scar treatment procedures is a major challenge for market growth.
Segment Analysis
The North America Scar Treatment Market can be segmented based on product type, application, end user and distribution channel. Based on product type, the market is segmented into Topical Products, Laser Products, Injectable Products, and Others. The Topical Products segment currently dominates the market due to ease of application and availability of over-the-counter topical products. Based on application, the market is segmented into Atrophic Scars, Hypertrophic & Keloid Scars, Contracture Scars and Stretch Marks. The Hypertrophic & Keloid Scars segment holds the largest share as these scars can be visible for long durations requiring repeated treatment cycles.
PEST Analysis
Political: Healthcare reforms and regulations supporting new product approvals are supporting market growth. Some policies however restrict the marketing of new innovative scar treatments.
Economic: Rising income levels and healthcare spending in the US and Canada are fueling market expansion. High treatment costs of laser therapies currently limits widespread adoption.
Social: Increasing awareness about availability of various scar treatments and rising social stigma against visible scars are key drivers. Changing beauty standards are also propelling the demand.
Technological: Advancements in laser and light-based technologies, injectable fillers and topical product formulations are expanding treatment options. Digital health tools enable remote scar management.
Key Takeaways
The North America Scar Treatment Market Size is expected to witness high growth due to increasing procedural volumes for scar removal. The United States holds the major share due to presence of key market players and availability of advanced treatment options. The topical products segment dominates currently while injectable and laser therapies are growing at a rapid pace. The North America Scar Treatment market is estimated to be valued at US$ 4348.7 Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030.
Regional analysis
The United States accounts for over 80% market share due to large patient population seeking scar removal procedures. Canada is growing at a faster rate supported by increasing medical tourism and availability of advanced laser therapies. Reimbursement coverage for scar treatments in both countries positively impacts the regional market.
Key players
Key players operating in the North America Scar Treatment Market are Liber & Co., MONIN, The Simple Syrup Co, Bristol Syrup Company, Toschi Vignola s.r.l, Giffard, Teisseire, Taylerson€TMs Syrups, ODK Orsadrinks, 1883 Maison Routin, and The Syrup Company. Liber & Co. leads the market owing to its diversified portfolio of topical scar gels and creams. MONIN has a significant share in the injectable products segment.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
