The hypertrophic and keloid scar treatment market size in 2021 stood at US$ 5.32 billion and is projected to reach US$ 15.18 billion by 2031. The market is expected to register a CAGR of 11.4% in 2023–2031. Advances in stem cell and tissue engineering are likely to remain key hypertrophic and keloid scar treatment market trends.
Hypertrophic and Keloid Scar Treatment Market Analysis
Factors such as an increase in road accidents and burn cases, a rise in skin disorders such as acne formation, advancements in keloid treatment approaches, and the rising popularity of aesthetic surgeries are anticipated to propel treatment use. The introduction of new technologies in the market increases the demand for treatment devices used for hypertrophic and keloid scar, due to improved efficiency and outcomes, which also play crucial roles in accelerating the growth of the market. All these factors are anticipated to benefit the hypertrophic and keloid scar treatment market during the forecast period.
Hypertrophic and Keloid Scar Treatment Market Overview
A hypertrophic scar is a thickened, wide, often raised scar due to an injury. A hypertrophic scar usually is an effect of an abnormal response to a trauma or injury. Keloids are reddish nodules that are raised in appearance and develop at the site of an injury. Keloids may occur on any body part; the upper chest, shoulders, and upper back are mostly prone to keloid formation. The presence of well-established institutes for aesthetic surgery that treat scar treatments favors the market's growth. For instance, in 2006, the Department of Plastic, Reconstructive, and Aesthetic Surgery at Nippon Medical School (NMS) was established in Tokyo, Japan. Till 2020, the NMS treated ~2000 new cases of keloid and hypertrophic patients yearly. Additionally, the Chinese Herb Medicine published a research article in December 2020 for anti-hypertrophic scar ointment. It is expected to improve the blood circulation condition of hypertrophic scar tissues. Thus, it is likely to be a promising treatment for hypertrophic and keloid scar treatment.
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Hypertrophic and Keloid Scar Treatment Market: Strategic Insights
Market Size Value in US$ 4,498.99 Million in 2019 Market Size Value by US$ 9,972.69 Million by 2027 Growth rate CAGR of 10.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Hypertrophic and Keloid Scar Treatment Market: Strategic Insights
| Market Size Value in | US$ 4,498.99 Million in 2019 |
| Market Size Value by | US$ 9,972.69 Million by 2027 |
| Growth rate | CAGR of 10.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Hypertrophic and Keloid Scar Treatment Market Drivers and Opportunities
An Increase in the Number of Road Accidents & Burn Incidence Drives Market Growth
Injuries and their deepening into the dermis are the major causes of hypertrophic and keloid scars. Injuries can be scratches, burns, cuts, sutures, surgical incisions, and more. According to the World Health Organization (WHO) data published in December 2023, road accident-led injuries are the primary cause of death among young adults aged 5–29. ~1.19 million people die yearly due to road traffic crashes. Between 20-50 million people suffer non-fatal injuries. In addition, as per the report by the National Fire Protection Association, local fire departments responded to approximately 1.5 million fires in the US in 2022. Therefore, the increasing number of accidents and burn incidents is boosting the rising demand for hypertrophic and keloid scar treatments, thereby driving market growth.
Advances in Treatment to Favor Market Growth
Hypertrophic scars and keloids can have significant detrimental effects on patients both psychosocially and functionally. Careful identification of patient risk factors and a comprehensive management plan are necessary to optimize outcomes. Numerous treatments, including topical and injectable corticosteroids, 5-fluorouracil, radiotherapy, lasers, and surgical excision, have been demonstrated to be effective in treating keloids. In order to lower recurrence rates, treatment should be customized based on each patient's unique risk factors with the use of combination medicines. Nonetheless, there are many different approaches to treating keloid and hypertrophic scars, and new therapeutic techniques offer options for recurrent lesions. Novel topical therapeutics, skin priming, and laser-assisted drug delivery could offer different approaches for managing keloids and hypertrophic scars, thereby fueling the market's growth during the forecast period.
Hypertrophic and Keloid Scar Treatment Market Report Segmentation Analysis
Key segments that contributed to the derivation of the hypertrophic and keloid scar treatment market analysis are scar type, product type, and end user.
- Based on scar type, the hypertrophic and keloid scar treatment market is divided into hypertrophic, keloid. The hypertrophic segment held the largest market share in 2023 and is anticipated to register the highest CAGR during the forecast period.
- By product type, the market is segmented into laser products, topical products, injectables, other products. The injectables segment held the largest share of the market in 2023 and is projected to register the highest CAGR during the forecast period.
- In terms of end user, the market is categorized into hospitals, clinics, homecare. The hospitals segment held the largest market share in 2023 and is anticipated to register the highest CAGR during the forecast period.
Hypertrophic and Keloid Scar Treatment Market Share Analysis by Geography
The geographic scope of the hypertrophic and keloid scar treatment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the hypertrophic and keloid scar treatment market. North America market is expanding due to several factors, including the rising incidence rate of accidents, growing developments of hypertrophic and keloid scars treatment products, and an increase in skin-related disorders. For instance, in January 2020, Soliton, Inc. announced its Rapid Acoustic Pulse Device's positive results. The device is intended for the treatment of fibrotic keloid and hypertrophic scars.
In addition, the demand for over-the-counter topical products is increasing. As the products are available without a prescription, the demand for the products is growing. Various clinics and hospitals are offering treatments for keloid and hypertrophic scars, which is also responsible for augmenting the market's growth in the region. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
Hypertrophic and Keloid Scar Treatment Market Report Scope
Hypertrophic and Keloid Scar Treatment Market News and Recent Developments
The hypertrophic and keloid scar treatment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for hypertrophic and keloid scar treatment and strategies:
- AVITA Medical, Inc. received approval from Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) to market the RECELL System in the country. The RECELL System is used to prepare Spray-On Skin Cells using a small amount of a patient’s own skin, to treat severe burns, while significantly reducing the amount of donor skin required. The system is designed to be used at the point of care alone or in combination with autografts, depending on the depth of the burn injury. (Source: AVITA Medical Inc., Press Release, 2022)
- OliX Pharmaceuticals, Inc. completed patient enrollment in the Phase 2a clinical trial of OLX101A, an investigational therapeutic program for treating hypertrophic scar. In October 2020, the Company received FDA clearance to advance the investigation of OLX10010 (compound name of OLX101A) and began enrolling patients for the Phase 2a clinical trial across five sites in the US. The study is conducted to evaluate the effectiveness of OLX10010 in reducing the recurrence of hypertrophic scars after scar revision surgery. (Source: OliX Pharmaceuticals, Inc., Press Release, 2022)
Hypertrophic and Keloid Scar Treatment Market Report Coverage and Deliverables
The “Hypertrophic and Keloid Scar Treatment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Scar Type , Product Type , and End User , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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