Appearance is one of the biggest focus areas of people these days, which is why the demand for personal care and cosmetic products and skin treatments is growing around the world. One of the biggest degraders of appearance is scars, which can be caused by a number of diseases and physical injuries due to accidents, burns, chemical contact, violence, wounds, and surgeries. For instance, as per the American Academy of Dermatology (AAD), 50 million people in the U.S. have acne.
Browse report overview and detailed TOC at Scar Treatment Market Demand Forecast
As a result, P&S Intelligence expects the scar treatment market value to increase to $63.4 billion by 2030 from $19.6 billion in 2019, at an 11.5% CAGR between 2020 and 2030. This is because the triggers of acne and other skin diseases, such as psoriasis, vitiligo, eczema, and photoaging, are fairly common. These include ultraviolet (UV) exposure, age and the accompanying hormonal changes, pollution, tobacco and alcohol abuse, bacterial and fungal infections, and genetics. Thus, with the increasing prevalence of such diseases, the scar incidence is rising too, which is propelling the demand for treatments.
This clearly reflects a vast unmet demand for topical, laser, surface, injectable, and surgical scar treatment products, among which topicals remain the most popular. This is because topical products include oils, gels, creams, gel sheets, ointments, lotions, and foams, which are easily available over the counter (OTC) and on prescriptions at pharmacies and retail stores and are easy to apply by patients themselves. Additionally, these are some of the cheapest scar treatments available, which is a key reason behind their high popularity among the masses.
In the years to come, the demand for such products will burgeon in Asia-Pacific (APAC), which is majorly home to LMICs. The vast unmet need for skin treatments, combined with the efforts of several public and private firms to make people aware of the issue, will contribute to the increasing product sales. Further, the improving financial status of the populace, rising cases of burns and accidents, and bettering healthcare infrastructure will create a high demand for such treatments here.
Hence, with the rising prevalence of skin issues and appearance consciousness, especially in emerging economies, scar treatment products will witness an escalating requirement.
