Hypertrophic Segment to Dominate North America Hypertrophic and Keloid Scar Treatment Market during 2018–2027

According to a new market research study on “North America Hypertrophic and Keloid Scar Treatment Market to 2027 – COVID-19 Impact and Analysis and Forecast by Scar Type, Product Type, and End User,” is expected to reach US$ 4,053.90 million by 2027 from US$ 1,972.60 million in 2020. The market is estimated to grow at a CAGR of 10.8% from 2020 to 2027. The report provides trends prevailing in the North America hypertrophic and keloid scar treatment market along with the drivers and restraints pertaining to the market growth. Advantages of laser treatment is the major factor driving the growth of the North America hypertrophic and keloid scar treatment market. However, unavailability of universal treatment due to high costs, side effects, and scanty awareness may hinder the growth of North America hypertrophic and keloid scar treatment market.     

North America is witnessing a growing number of COVID-19 cases; for instance, the number of cases increased to 400,549 with 12,857 deaths reported in the US. Additionally, Mexico and Canada cases are also growing. The global impacts of COVID-19 have affected several markets, including the hypertrophic and keloid scar treatment market. Although the healthcare sector has witnessed H1N1, SARS, and additional outbreaks in the last few years, the COVID-19 virus has made the situation more difficult due to its transmission mode. Since the outbreak of COVID-19, North America has been witnessing a growing number of COVID-19 cases. Several measures are being taken to restrain the disease and prevent transmission; nevertheless, the excessive number of COVID-19 cases has resulted in the cancellation of doctor's appointment and decreased demand for elective hypertrophic and keloid scar treatment to the long period of lockdown. In the US, due to the growing number of contaminated patients, healthcare practitioners and leading organizations are distracting the flow of health services from research and development to primary care, which slows down the process of innovation.

The market for hypertrophic and keloid scar treatment market is segmented into scar type, product type, end user, and country. Based on scar type, the hypertrophic and keloid scar treatment market is segmented into hypertrophic and keloid. The hypertrophic segment held the largest share of the market in 2019. Based on product type, the hypertrophic and keloid scar treatment market is segmented into laser products, topical products, injectables, and other products. The injectables segment held the largest share of the market in 2019. Based on topical products, the market is segmented into gels, silicone sheets, creams, other. Based on laser, the market is segmented into CO2, pulse-dyed, other. Based on end user, the hypertrophic and keloid scar treatment market is segmented into hospitals, clinics, and homecare. The hospitals segment held the largest share of the market in 2019. Based on country, the market is segmented into the US, Canada, and Mexico. US held the largest share of the market in 2019.

Alliance Pharma PLC, Mölnlycke Health Care AB., Smith & Nephew, Newmedical Technology Inc., Rejûvaskin, Sonoma Pharmaceuticals, Inc, Suneva Medical, HRA Pharma and Perrigo Company plc are among the leading companies in the North America hypertrophic and keloid scar treatment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Sonoma Pharmaceuticals, Inc. announced it has commenced a review to explore and assess strategic options for its U.S. Food and Drug Administration (FDA) orphan drug designation for BOTOX. The National Dermatology Society has engaged Maxim Group LLC as its financial advisor. There is no timeframe for such a transaction and there is no guarantee about whether a transaction will be announced or consummated.

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