Overview and Scope
Keloids refer to raised, thickened scars that extend beyond the original boundaries of a wound or injury. These scars result from an overgrowth of collagen during the healing process, leading to a firm, often discolored and sometimes uncomfortable or itchy area on the skin. Keloids can be treated using various medical interventions and approaches tailored to the individual’s condition and the severity of the keloid.
Sizing and Forecast
The keloids treatment market size has grown strongly in recent years. It will grow from $3.91 billion in 2023 to $4.14 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. The growth in the historic period can be attributed to high prevalence of keloids, growing awareness keloid treatments, increasing incidence of wound and injury-related cases, rise in aesthetic surgeries.
The keloids treatment market size is expected to see steady growth in the next few years. It will grow to $4.93 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to increasing expenditure on personal care products, government initiatives, increasing emphasis on scar prevention strategies, investments on keloids treatments. Major trends in the forecast period include advancements in treatment modalities, innovation in medical technologies, adanced minimally invasive procedures on keloids treatment, combination therapies, laser technology, scar management products.
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Segmentation & Regional Insights
The keloids treatment market covered in this report is segmented –
1) By Treatment: Radiation Therapy; Cryo Therapy; Surgical Treatment; Laser Treatment; Steroid Injections; Interferon; Other Treatments
2) By Product Type: Elastic Wraps; Sprays; Ointment; Creams; Oils; Topical Gels And Gel Sheets; Other Products
3) By Route Of Administration: Oral; Parenteral
4) By End User: Hospitals; Homecare; Dermatology Clinics; Other End Users
North America was the largest region in the keloids treatment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in keloids treatment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rising incidence of wound and injury cases is expected to propel the growth of the keloid treatment market going forward. A wound is a physical injury or damage to the body’s tissues, typically involving a break in the skin, resulting from various causes such as accidents, surgical procedures, burns, or other traumatic events. The rise in experienced wounds leads to keloid formation, increasing demand for effective treatment options, fostering greater awareness about keloid complications, encouraging research advancements and promoting collaboration among medical professionals. For instance, in November 2022, according to the U.S. Bureau of Labor Statistics, a US-based government agency, there was a 6.3% rise in the total reported injury cases, reaching 2.2 million cases in 2021, compared to 2.1 million cases in 2020. Moreover, the injury rate increased as private industry employers reported 2.3 cases per 100 full-time equivalent (FTE) workers in 2021, up from 2.2 cases in 2020. Therefore, the rising incidence of wound and injury cases will drive the growth of the keloid treatment market.
Key Industry Players
Major players in the keloids treatment market are Pfizer Inc., F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Novartis AG, Bristol-Myers Squibb Company, AstraZeneca PLC, GlaxoSmithKline plc., Eli Lilly and Company, Mylan N.V., Galderma S.A., Sun Pharmaceutical Industries Ltd., Molnlycke Health Care AB, Cynosure Inc., Cutera Inc., Alliance Pharma PLC, Revance Therapeutics Inc., Sensus Healthcare, Strata Skin Sciences, Avita Medical Limited, Pacific World Corporation, Mederma, Stratpharma AG, Sonoma Pharmaceuticals Inc., RXi Pharmaceuticals Inc., Biodermis, Novoxel Ltd., Scar Heal Inc., Galena Biopharma Inc.
The keloids treatment market report table of contents includes:
1. Executive Summary
2.Keloids Treatment Market Characteristics
3.Keloids Treatment Market Trends And Strategies
4.Keloids Treatment Market analysis
5.Keloids Treatment Market Size And Growth
6.Keloids Treatment Segmentation
7.Keloids Treatment Regional And Country Analysis
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27.Keloids Treatment Competitive Landscape And Company Profiles
28.Keloids Treatment Key Mergers And Acquisitions
29.Keloids Treatment Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Pfizer Inc.
- F. Hoffmann-La Roche Ltd.
- Merck & Co. Inc.
- Novartis AG
- Bristol-Myers Squibb Company
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