July 20, 2024

The North America Scar Treatment Market Is Driven By The Rise In Demand For Scar-Reducing Therapies

The North America scar treatment market has witnessed significant growth in the recent years on account of considerable increase in the prevalence of scars caused by accidents, burns, and post-surgical wounds. Scar treatment products aim to minimize the appearance and texture of scars by speeding up the natural healing process. They include gels, creams, patches, silicone sheets and gel sheets, laser treatment, and injectable fillers. Laser therapy utilizes high-intensity light energy to remove or reduce the appearance of scars by heating up collagen fibers beneath the skin surface. Similarly, injectable fillers like corticosteroids work by reducing inflammation and thickening of scar tissue.

The global North America scar treatment market is estimated to be valued at US$ 4,348.7 million in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Micro needling, also known as collagen induction therapy, is a minimally invasive cosmetic procedure that uses fine needles to puncture the skin and trigger the body’s wound healing response. This response leads to the production of new collagen and elastin that helps improve the appearance of scars. Moreover, micro needling is found to be more effective than other scar treatments as it stimulates both collagen production and revascularization which aids scar reduction. The therapy also has less risk of side effects like pigment changes and scarring. Owing to its effectiveness and low risks, micro needling is gaining significant popularity as a scar treatment method.

Porter’s Analysis
Threat of new entrants: The North America scar treatment market has moderate threat of new entrants due to high capital requirements and established presence of existing key players.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternatives and price sensitivity in the market.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to presence of many suppliers and buyers in the market.

Threat of new substitutes: Threat of substitutes is low due to lack of substitutes for scar treatment products and services.

Competitive rivalry: The North America scar treatment market witnesses high competitive rivalry due to presence of established key players.

Key Takeaways

The Global North America Scar Treatment Market Size is estimated to be valued at US$ 4,348.7 million in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023-2030.

The North America region dominates the scar treatment market owing to increasing awareness regarding treatments and rising disposable income in countries like US and Canada.

Key players
Key players operating in the North America scar treatment market are ScarAway, Thrive Aesthetics MN, HRA Pharma, MARLO WHITNEY, Smith & Nephew Inc, Merz Therapeutics, Enaltus LLC, Oculus Innovative Sciences, Inc, CCA Industries, Bausch Health Companies Inc., Candela Medical, Perrigo Company plc, Sonoma Pharmaceuticals, Inc., Hologic, Inc., Johnson & Johnson Surface Treatment, Inc., Quantum Health, AVITA Medical, Revitol Corp, Scarguard labs, Lumenis Be Ltd, Cynosure, GC Aesthetics, Sientra, Inc, SkinCeuticals, Cimeosil.com, Honeydew Products, 3V Sigma USA Inc., Syneron Medical Ltd. These leading players are focusing on new product launches and agreements to gain a competitive edge in the market.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it