North America Hypertrophic and Keloid Scar Treatment Market
The North American hypertrophic and keloid scar treatment market is segmented into countries, including the US, Canada, and Mexico. The US held the largest share of the North American hypertrophic and keloid scar treatment market in 2019. The growth of the market in the region is attributed to the increasing developments of the hypertrophic and keloid scar treatment products, rising research and developments to understand the hypertrophic and keloid scar, rising incidences of these scars among younger people, and growing aesthetic industry. The US is expected to be the largest market for hypertrophic and keloid scar treatment. The growth is attributed to the companies' various developments, growing incidences of hypertrophic and keloid scar, burning incidences, and growing awareness about laser therapy and topical products. Companies are continuously delivering innovative products with the positive clinical trial results of their products. For instance, in January 2020, Soliton, Inc. announced its Rapid Acoustic Pulse (RAP) Device's positive results. The device is intended for the treatment of fibrotic keloid and hypertrophic scars. Such developments in the market are likely to foster the growth of the market during the forecast period. Similarly, the demand for over the counter topical products is increasing. As the products are available without a prescription, the demand for the products is increasing. On the other hand, the incidences of a keloid scar are seen among young people between the ages of 10–30years. The majority of keloid scars are developed by the people undergoing piercing. Moreover, the prevalence of keloid scars is among the Hispanic and African-American populations. According to a research paper, 'Triamcinolone acetonide intralesional injection for the treatment of keloid scars: patient selection and perspectives,' published in May 2018, the prevalence rate is 5–16% among the Hispanic and African-American populations. Also, the country's growing population is expected to increase the incidences of keloid and hypertrophic scars. Thus, it is likely to foster the growth of the market during the forecast period.
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.
Strategic insights for the North America Hypertrophic and Keloid Scar Treatment provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 1,972.60 Million |
| Market Size by 2027 | US$ 4,053.90 Million |
| Global CAGR (2020 - 2027) | 10.8% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Scar Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The geographic scope of the North America Hypertrophic and Keloid Scar Treatment refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The hypertrophic and keloid scar treatment market in North America is expected to grow from US$ 1,972.60 million in 2020 to US$ 4,053.90 million by 2027; it is estimated to grow at a CAGR of 10.8% from 2020 to 2027. Emerging treatments modalities; at present, there are various treatments available to treat hypertrophic and keloid scars. The emerging treatments are based on stem cell therapy, verapamil, mitomycin C (MMC), interferons, bleomycin, ACE inhibitors, and botulinum toxin type A. Most of these treatments have shown promising results. On the other hand, the topical products are being used to reduce the thickness of scars and lighten them as they are esthetically unpleasing. However, laser treatment and radiotherapy are associated with side effects, and they do not heal the scars completely. Therefore, researchers are continuously studying these treatments and are yet to derive a standard treatment for hypertrophic and keloid scars. Likewise, manufacturers are also engaged in developing products such as extracellular matrix that control the proliferation of collagen, thereby preventing the excess deposition of the same. Keloid scars can also be related to genetic factors; hence, they are considered major clinical challenges. Therefore, the ongoing research and developments are likely to provide preventive measures and extraordinary treatments for hypertrophic and keloid scars treatment during the forecast period. This is bolstering the growth of the hypertrophic and keloid scar treatment market.
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 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.
A few major primary and secondary sources referred to for preparing this report on the hypertrophic and keloid scar treatment market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Alliance Pharma PLC
The North America Hypertrophic and Keloid Scar Treatment Market is valued at US$ 1,972.60 Million in 2020, it is projected to reach US$ 4,053.90 Million by 2027.
As per our report North America Hypertrophic and Keloid Scar Treatment Market, the market size is valued at US$ 1,972.60 Million in 2020, projecting it to reach US$ 4,053.90 Million by 2027. This translates to a CAGR of approximately 10.8% during the forecast period.
The North America Hypertrophic and Keloid Scar Treatment Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Hypertrophic and Keloid Scar Treatment Market report:
The North America Hypertrophic and Keloid Scar Treatment Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Hypertrophic and Keloid Scar Treatment Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Hypertrophic and Keloid Scar Treatment Market value chain can benefit from the information contained in a comprehensive market report.
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