by The North America scar treatment market consists of topical scar treatment products such as creams, gels, silicone sheeting, bandages that help reduce the appearance of scars including acne scars, surgical scars, and injury related scars. Scar treatment products work by gradually fading the color of scars to make them less noticeable. They also help soften scar tissue and prevent excessive hardening and thickening of scars.
The Global North America Scar Treatment Market is estimated to be valued at US$ 5009.71 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the North America scar treatment are Liber & Co., MONIN, The Simple Syrup Co, Bristol Syrup Company, Toschi Vignola s.r.l, Giffard, Teisseire, Taylerson€TMs Syrups, ODK Orsadrinks, 1883 Maison Routin, and The Syrup Company. Rising awareness about scar treatment products and increasing adoption of advanced scar treatment options like fractional laser therapy and microwave technology are expected to drive the market growth over the forecast period. North American companies are expanding their operations in other regions like Europe and Asia Pacific to tap new market opportunities.
Market key trends
The rising promotional and marketing activities by key players focusing on educating consumers about benefits of scar treatment is expected to be a major trend in The North America Scar Treatment Market. Growing preference for minimally invasive procedures for scar treatment is another key trend witnessed in the market. Wide availability of scar treatment products online is also promoting growth of e-commerce platforms in the market.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the scar treatment is fragmented market with the presence of small to medium size companies. However, the companies need to invest heavily in R&D to develop innovative products which create entry barriers.
Bargaining power of buyers: The bargaining power of buyers is moderate to high as there are many options available for buyers in terms of products and price. Buyers can easily switch to other products if any company increases the price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as scar treatment requires raw materials which are commodity in nature and available with many suppliers. However, suppliers may bargain for higher prices if demand increases substantially.
Threat of new substitutes: The threat of new substitutes is low as there are limited options available to treat scars. Some substitutes include cosmetic scar treatments but they do not completely remove scars.
Competitive rivalry: The competitive rivalry is high due to presence of many small and large players. Companies compete based on product quality, innovation, price and branding.
The North America region accounts for the largest share in terms of value driven by high awareness among consumers regarding scar treatment options and availability of advanced products. The United States dominates the North America scar treatment market due to high spending on personal care and developed healthcare infrastructure.
The Asia Pacific region is expected to witness fastest growth during the forecast period owing to rising medical tourism, increasing disposable income, growing beauty consciousness and escalating demand for non-invasive scar treatment procedures. countries like China, India and South Korea are likely to offer huge opportunities for players operating in the scar treatment market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
