Scar treatment involves various products and procedures aimed at reducing the visibility and appearance of scars. Some of the common scarring results from acne, burns, cuts or abrasions, and post-surgical scars. Key scar treatment products include creams, gels, sheets, laser therapy devices, injectables and other medical procedures. The growing cosmetic industry has fueled demand for scar treatment as conscious about their physical appearance. Furthermore, rising incidence of accidents and trauma cases leading to scarring has also propelled the use of scar treatments. The need to reduce marks and make scars fade quicker has been an important factor for consumers.
The global North America Scar Treatment Market is estimated to be valued at US$ 4348.7 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Advancements in laser and light therapy have expanded scar treatment options. Low-level laser therapy and intense pulsed light devices can reduce erythema and pigmentation caused by scarring. Newer ablative laser devices provide better collagen remodeling for acne and surgical scars. Intense pulsed light therapy is also effective for pigmented and pink scars. Product innovations include scar gels and sheets containing silicones, vitamins and peptides that nourish the skin and reduce scarring appearance. Combined treatment regimens using laser, injections and creams deliver optimal outcomes. Rising popularity of medical tourism in countries like Mexico and Costa Rica for affordable scar treatments is another trend.
Porter's Analysis
Threat of new entrants: The North America scar treatment market is competitive as there are many established players. However, the requirement of large investments and expertise poses barriers for new players to enter the market.
Bargaining power of buyers: The bargaining power of buyers in moderate as there are several treatment options available for scar treatment. Buyers can compare products and prices.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw material suppliers have established relationships with manufacturers. However, changing suppliers also does not require high switching costs.
Threat of new substitutes: The threat of new substitutes is low as scar treatment products are specialized and there are limited treatment alternative available for scar treatment in the market.
Competitive rivalry: The competitive rivalry in the market is high owing to presence of major pharmacy chains, clinics and dermatology practices offering scar treatment products and therapies.
Key Takeaways
The North America Scar Treatment Market Demand is expected to witness high growth. The global North America Scar Treatment Market is estimated to be valued at US$ 4348.7 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030.
Regional analysis: The North America region dominates the scar treatment market due to growing awareness towards aesthetic appearance, rising disposable income as well as availability of advanced scar treatment therapies and products. The US accounts for the major share in the region due to well established healthcare infrastructure and favorable reimbursement policies.
Key players related content comprises: Key players operating in the North America scar treatment market are DPR Construction, Inc., Turner Construction Co., Holder Construction Company, Hensel Phelps Construction Co, Balfour Beatty US, Helix Electric, Sudlows, Kraus Anderson Construction, The Beck Group, PCL Construction Enterprises, The Walsh Group, Hill International, and Engineered Structures, Inc. (ESI).
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https://www.marketwebjournal.com/north-america-scar-treatment-market-trends-size-and-share-analysis/
