The keloid treatment market is expected to reach USD 1,172.1
Million by 2030 and is expected to increase at a CAGR of 3.30% during the forecast
period 2022-2030.
The global keloid treatment market is
growing continually, mainly due to the rising occurrences of these types of
scarring. Besides, factors such as the rapid development made in technological
skincare products increasing awareness among people regarding the availability
of treatment options drive the market growth exponentially. Also, rising
expenditure on skincare products, services, and lifestyle changes contribute
significantly to the expansion of keloid treatment market.
Encouraged by the increasing demand
for novel keloid treatments, clinics, and hospitals are focusing on the
adoption of advanced therapy options that have lesser adverse reactions, such
as superficial radiation therapy and others. Moreover, increasing R&D investments
accelerate market growth, giving a fresh outlook.
Undoubtedly, technological advances in
medical science & biotechnology have increased the market size, bringing
about betterments, which could then improve the outlook for keloid treatments.
Additionally, factors such as rising per capita healthcare expenditures,
increasing population, skin trauma cases, heredity reasons, and genetic
mutations positively impact market growth.
Furthermore, substantial investments
transpired in R&D are fostering market growth, improving keloid treatment
mechanisms. On the other hand, side effects and high costs associated with
various keloid treatment options are anticipated to be major growth restraints
for the market. Also, the unavailability of comprehensive treatments impedes
the market growth and presages the large scope for the development at the same
time.
Global Keloid Treatment Market –
Segments
The report is segmented into four
dynamics;
By Product Type
: Sprays, Elastic Wraps, Ointment, Oils, Creams,
Topical Gels & Gel Sheets, and others.
By Treatment : Radiation
Therapy, Ligature, Cry Therapy, Laser Treatment, Surgical Treatment, Steroid
Injections, Silicone Gel or sheeting, Corticosteroid Injections (intralesional
steroids), Interferon, and others.
By End User
: Hospitals, Dermatology Clinics, Ambulatory
Surgical Centers, and others.
By Regions
: Europe,
Americas, Asia Pacific, and Rest-of-the-World.
Global Keloid Treatment Market –
Geographical Analysis
North America leads the global keloid
treatment market. The largest market share attributes to the high adoption of
advanced technologies for the treatment of keloid. Besides, the presence of
well-equipped treatment centers and a large number of industry players in the
region drives the market growth phenomenally. Clinics in North America are
adopting new technologies, products, and alternative treatments to deal with
the condition.
Moreover, high healthcare expenditures
and advances in biotechnology in this region are the key factors responsible
for the rapid growth of the market. The US market largely supports the growth
of the regional market with its increasing keloid cases. The North American
keloid treatment market is expected to continue to dominate the global market
throughout the forecast period.
Europe stands second in the global
keloid treatment market. The increasing awareness among people about the
availability of treatments drives the market growth. Besides, favorable
reimbursement scenario for skin treatment and increasing government funding for
R&D required for the development of effective therapeutics & medicines
to treat keloid scars drive the regional market growth.
Additionally, increasing per capita
healthcare expenditures due to the improving economy in the region and high healthcare
penetration, boost the market growth. Furthermore, advanced treatment
facilities, alongside the availability of skilled medical professionals, propel
the market in the region. The European keloid treatment market is projected to
demonstrate promising growth over the assessment period.
The keloid treatment market in the
Asia Pacific region is emerging as a promising market. Factors such as
technological advances and well-spread awareness among people about the
condition and various treatments available in the market foster the regional
market growth. Moreover, the growing prevalence of skin caries increased focus
on appearance, and aesthetics in the developing countries substantiate the
growth of the regional market.
Also, factors such as the rising population,
increasing disposable income, and growing healthcare expenditure contribute to
the market growth in the region. The APAC keloid treatment market is
anticipated to be the fastest-growing market in the future.
Global Keloid Treatment Market – Competitive
Landscape
The global keloid treatment market
appears intensely competitive, with several notable players. To gain a larger
competitive share, strategic partnership, collaboration, acquisition,
expansion, and technology launch remain popular trends among industry players.
Significant investments are transpired in the field to bring innovations to the
therapy and clinical trials.
Major Players:
The keloid treatment market
Players include Greiner Bio-One International
GmbH, Ikonisys Inc., Thermo Fisher Scientific, STEMCELL Technologies, SRI
International, Miltenyi Biotec, QIAGEN Hannover (QIAGEN), Menarini Silicon
Biosystems, F. Hoffmann-La Roche Ltd, Fluxion Biosciences, Inc., NanoString
Technologies, Inc, GE Healthcare, Advanced Cell Diagnostics, Inc. (Bio-Techne
Corporation), ApoCell, Celltraffix Inc., and Epic Lifesciences.
Industry/ Innovation/Related News:
January 27, 2020 --- Soliton,
Inc. (US), a medical device announced positive proof-of-concept (POC) study
results of its Rapid Acoustic Pulse (RAP) Device in the fibrotic (keloid and
hypertrophic) scars treatment. Soliton has a novel and proprietary platform
technology licensed from The University of Texas on behalf of the MD Anderson
Cancer Center. Overall, the treatment of fibrotic scars using the RAP device proved
safe and tolerable with minimal pain, and most patients express satisfaction
with scar improvement.
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