Topical Scar Treatment Market To Generate ,451.1 Million Revenue by 2030

Posted by Pramod Arya on May 9th, 2022

A number of factors such as the increasing incidence of burns, growing disposable income, burgeoning geriatric population, rising cases of road accidents, and growing prevalence of skin diseases will help the topical scar treatment market exhibit a CAGR of 7.7% during 2021–2030.

The rising prevalence of burn injuries is one of the primary growth drivers of the market, as scars are often formed due to skin damage caused owing to burns. According to the WHO, approximately 180,000 burn-related deaths are caused every year, globally. Nearly two-thirds of these deaths are recorded in the African and SEA regions. As per an article published in the Experimental and Therapeutic Science Journal in April 2019, over 10 million people in China suffer from burns every year.

The atrophic and acne scar category, within the scar type segment, generated the highest revenue in the topical scar treatment industry in 2020. The dominance of this category is ascribed to the growing prevalence of atrophic and acne scars among adolescents, owing to their unhealthy eating habits and ongoing hormonal changes in their bodies. The IHME states that 4.96 million people around the world were affected by acne vulgaris in 2019. Owing to these factors, the market in this category is also expected to showcase the fastest growth in the coming years.

Geographically, China accounted for the largest share in the topical scar treatment market in 2020, and the country market will also demonstrate the fastest growth in this decade. This can be attributed to the growing geriatric population, surging cases of skin diseases, and mounting disposable income of people in the country. Moreover, the rapid economic growth in the country will also facilitate the demand for technologically advanced scar treatment products. For instance, the GDP of China surged from .895 trillion in 2018 to .28 trillion in 2019, as per the World Bank.