by Scar treatment products such as gels, creams, liquids, tapes and sheets help relieve discomfort caused by scars and also improve appearance by reducing visibility of scars. The rising number of traumatic wounds, burns and surgical procedures have increased demand for scar treatment products. Furthermore, increasing awareness regarding advanced scar treatment procedures such as laser treatment, injectable and topical therapies is also fueling market growth.
The 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 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major market trends propelling the North America scar treatment market growth is rising awareness regarding advanced scar treatment procedures. These procedures utilize methods such as laser treatment, topical gels, creams and injection therapies to reduce scarring. For instance, laser therapy utilizes specific wavelengths of light to remove scarred tissue and stimulate collagen production in treated areas. Simultaneously, injectable therapies deploy corticosteroids and other dermal fillers below scarred skin to promote healing and flatten scars. Furthermore, topical therapies containing Silicone, hyaluronic acid and vitamins promote scar healing and reduction of visibility. Growing accessibility to these advanced treatments and increasing awareness regarding their effectiveness is contributing significantly to market growth during the forecast period.
SWOT Analysis
Strength: The advanced treatment options and surgical procedures available in the North American countries can effectively treat scars. High spending on healthcare and awareness about scar removal therapies are the key strengths.
Weakness: High cost of advanced scar removal treatments can limit their adoption in some sections of the population. Lack of health insurance coverage for expensive aesthetic procedures pose challenges.
Opportunity: Rising demand for cosmetic procedures to improve physical appearance present lucrative opportunities. Growing medical tourism from other regions can boost the scar treatments market.
Threats: Competition from alternative treatments using natural & herbal remedies can affect market revenue. Side effects and complications associated with surgical and laser procedures also threaten future growth.
Key Takeaways
The North America Scar Treatment Market Size is expected to witness high growth. The increasing focus on physical appearance and aesthetics is driving significant growth. The region accounts for the largest market share due to the availability of advanced treatment options and greater affordability compared to other regions. The 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 4.8% over the forecast period 2023 to 2030.
Regional analysis: The United States holds the major share of over 80% within the North America scar treatment market due to high consumer spending power, strong presence of key market players offering advanced treatment solutions, and increasing focus on physical appearance in the country. Canada is emerging as a lucrative market with rising medical tourism from other countries.
Key players: Key players operating in the North America Scar Treatment market are Liber & Co., MONIN, The Simple Syrup Co, Bristol Syrup Company, Toschi Vignola s.r.l, Giffard, Teisseire, Taylerson’s Syrups, ODK Orsadrinks, 1883 Maison Routin, and The Syrup Company. These players are focused on introducing innovative and minimally invasive treatment options to gain higher market share. Strategic acquisitions and collaborations are on the rise for geographic and product portfolio expansions.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
