Global Keloid Treatment Market, By Product Type (Elastic Wraps, Sprays, Ointment, Creams, Oils, Topical Gels & Gel Sheets, Others), Treatment Type (Radiation Therapy, Surgical Intervention, Steroid Injections, Others), Route of Administration (Oral, Parenteral), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, online Pharmacies and Others) – Industry Trends and Forecast to 2029.
Keloid Treatment Market Analysis and Size
The global keloid treatment market is expected to witness significant growth during the forecast period. Keloid scarring affects people of all age groups, even though dark-skinned people are more vulnerable, with 6% to 16% of African populations suffering from keloid skin disorders. Clinics and hospitals adopt many modern therapy alternatives as the demand for keloid treatment develops. Sudden outbreak of the COVID-19 pandemic imposed stringent lockdown regulations globally, causing interruptions in import and export activities of global keloid treatment market.
Data Bridge Market Research analyses a growth rate in the global keloid treatment market in the forecast period 2022-2029. The expected CAGR of global keloid treatment market is tend to be around 3.50% in the mentioned forecast period. The market was valued at USD 3.50 billion in 2021, and it would grow upto USD 4.61 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Keloid is also known as keloidal scar, defined as the firm, rubbery lesions or shiny, dense fibrous nodules scars that appear anywhere on the body. It is caused by the large production of protein in the skin during healing. These are unevenly shaped scars that appear on the skin and grow in size over time. This disease prevalence is rising and important diagnostic procedures and treatments will boost the growth of the market.
Keloid Treatment Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Elastic Wraps, Sprays, Ointment, Creams, Oils, Topical Gels & Gel Sheets, Others), Treatment Type (Radiation Therapy, Surgical Intervention, Steroid Injections, Others), Route of Administration (Oral, Parenteral), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, online Pharmacies and Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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F. Hoffmann-La Roche Ltd. (Switzerland), Mylan N.V. (U.S.), Pfizer Inc. (U.S.), GSK plc (U.K.), Novartis AG (Switzerland), AstraZeneca (U.K.), Sun Pharmaceutical Industries Ltd. (India), Merck & Co., Inc. (U.S.), Bristol-Myers Squibb Company (U.S.), Lilly (U.S.), Revitol (U.S.), Renovo Group plc (U.K.), AVITA Medical (U.S.)
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Market Opportunities
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Global Keloid Treatment Market Dynamics
Drivers
- Increased burn Injuries
As per the records of WHO, around 180,000 deaths because of burn incidence are recorded annually, wherein the majority of incidents are recorded in low- and middle-income countries. For instance, according to the National Health Portal of India, about 7 million people yearly suffer from burn injuries. Thus, the global keloid treatment market is estimated to boost with increasing burn cases during the forecast period.
- Technological Advancements
There has been technological advancement in this market that boost the business margin. The launch of laser therapies for treatment and elimination of scars is extensively being adopted. Furthermore, numerous companies are introducing new laser therapy products in this regard. For instance, Cynosure launched a new generation MedLite C6, a Q-switched laser therapy device used to treat skin diseases.
Opportunities
- Higher Rate of Fire Incidences
According to the study conducted by Value in Health journal, about 12,946 people in Germany were reported with complex burn injuries. Likewise, as per the report from National Fire Protection Association, local fire departments responded to around 1.4 million fire incidences in the U.S. Furthermore, as per American Burn Association, home fires were reported each year and more than 450,000 serious burn injuries are recorded in the U.S. alone. All these factors are also contributing in the growth of the market.
- Growing Awareness About Aesthetic Surgery
The increasing awareness associated with the availability of aesthetic surgery is predicted to impel the market growth. For instance, the American Society of Plastic Surgeons (ASPS) has witnessed that around 18 million people had a surgical invasive cosmetic procedure in the U.S. in 2018. Likewise, according to the report published by Aesthetic Plastic Surgery National Databank, in 2020, the revenue of all aesthetic procedures was estimated to be USD 9.30 billion.
Restraints/Challenges
- Lack of skilled professionals
The lack of qualified personnel who are unable to perform these treatments could curb the growth of the global keloid treatment market over a forecast period.
- Unavailability of Appropriate Treatments
To treat conditions which are rare, many a times all treatments are not available, especially in under-developed countries. The severe patients needs to be treated with advanced techniques but at times, these are not available in the hospitals and clinics. Thus, it hampers the market growth.
This global keloid treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global keloid treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Keloid Treatment Market
The COVID-19 pandemic was expected to lower the use of keloid treatment products to a certain extent. Although, as the COVID-19 cases are reduced, and restrictions withdrew, the market is anticipated to witness significant growth. In the post-pandemic era, numerous industry players are adopting several strategies such as partnership, mergers & acquisitions. For instance, in December 2020, Molnlycke Health AB announced the introduction of their new U.K. distribution center. This strengthened the company’s supply chain in the U.K. during the post-COVID-19. Thus, such strategies started by several other companies are expected to boost the keloid treatment market post-COVID-19 pandemic.
Global Keloid Treatment Market Scope
The global keloid treatment market is segmented on the basis of treatment type, route of administration, end-user, distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Elastic Wraps
- Sprays
- Ointment
- Creams
- Oils,
- Topical Gels & Gel Sheets
- Others
Treatment Type
- Radiation Therapy
- Surgical Intervention
- Steroid Injections
- Others
Route of Administration
- Oral
- Parenteral
End-Users
- Hospitals
- Homecare
- Specialty Clinics
- Others
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacies
- Others
Keloid Treatment Market Regional Analysis/Insights
The global keloid treatment market is analysed and market size insights and trends are provided by treatment type, route of administration,end-user, distribution channel as referenced above.
The major countries covered in the global keloid treatment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is dominating the market due to the high disposable income and advanced healthcare facilities.
Asia-Pacific is considered to have the most lucrative period due to the increase’s cases of cardiovascular diseases and rapidly aging population
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Keloid Treatment Market Share Analysis
The global keloid treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global keloid treatment market.
Key players operating in the global keloid treatment market include:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Pfizer Inc. (U.S.)
- GSK plc (U.K.)
- Novartis AG (Switzerland)
- AstraZeneca (U.K.)
- Sun Pharmaceutical Industries Ltd. (India)
- Merck & Co., Inc. (U.S.)
- Bristol-Myers Squibb Company (U.S.)
- Lilly (U.S.)
- Revitol (U.S.)
- Renovo Group plc (U.K.)
- AVITA Medical (U.S.)
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