According to the World Health Organization (WHO), approximately 180,000 deaths are caused due to burns every year. The WHO states that almost two-thirds of these deaths are recorded in the African and Southeast Asian regions. Furthermore, Development Asia, an initiative of the Asian Development Bank (ADB), estimates that 217,148 road accidents were recorded in South Korea in 2018. Similarly, the Transport Department of the Government of the Hong Kong Special Administrative Region states that 15,298 road accidents occurred in Hong Kong in 2020.
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Thus, the increasing prevalence of burns and road accidents in East and Southeast Asia will help the topical scar treatment market advance at a CAGR of 7.7% during 2021–2030. Moreover, the booming aging population and mounting disposable income of the people in the region will aid the revenue from the sale of such products in growing from $701.6 million in 2020 to $1,451.1 million by 2030. For instance, the WHO estimates that around 20.3% of the Southeast Asian population will be 60 years or above by 2050.
Topical products, such as creams, gels, oils, and gel sheets, are used to treat keloid and hypertrophic scars, stretch marks, atrophic and acne scars, and contracture scars. In the recent past, creams were preferred over other products because they fade, flatten, smoothen, and reduce old and new scars. Additionally, the usage of creams prevents the formation of scars. In recent years, people suffering from atrophic and acne scars, which are caused due to hormonal changes and unhealthy eating habits, have emerged as the largest user of creams and related products.
According to P&S Intelligence, China dominated the topical scar treatment market in the recent past, and it is also expected to adopt these products at the highest rate in the foreseeable future. This can be credited to the booming geriatric population and flourishing economy of the country. Additionally, the rising disposable income of people and increasing incidence of skin diseases will fuel the adoption of such products here.
Thus, the growing prevalence of road accidents and burns and the surging geriatric population will create a huge requirement for topical scar treatment products in East and Southeast Asia.
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