The global keloid treatment market is expected to reach USD 3.9 billion by 2023 and is expected to increase at a CAGR of 3.5 % during the forecast period from 2018 to 2023.
A keloid is a tough heaped-up scar that rises above the rest of the skin. It usually has a pink or purple color. Keloids have irregularly shaped scar that develops on the skin and enlarges progressively. Unlike other scars, keloids do not revert over time. According to the US national library of medicine, keloid formation is seen in individuals of all ages but dark-skinned people are more susceptible to keloid scar and about 6% to 16% in African populations is suffering from keloid skin problems.
The global keloid treatment market is expected to grow due to rapid development made in technological skin care products. Also growing awareness among people regarding the availability of treatment options and other products available to cure keloid is growing the keloid treatment market. Additionally, rising expenditure on skin care product, services and changing lifestyle have also significantly contributed to the expansion of keloid treatment market. However growing consciousness among patients particularly females regarding their appearance is also driving the market. As there is an increasing demand for keloid treatment, clinics and hospitals are focusing on adoption of advanced therapy options. Recently Sensus Healthcare has come up with a superficial radiation therapy device to provide better treatment with limited adverse reactions.
However, this market is being hindered by the possible side effects of keloid treatment, the high cost of various treatment options, and the risk of pain and barriers during treatment.
Key players:
Some of the key players in the global keloid treatment market are Novartis AG, RXi Pharmaceuticals, Inc., Sonoma Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Pacific World Corporation, Valeant Pharmaceuticals International, Inc., Revitol Corporation, Avita Medical Limited, Sensus Healthcare, Perrigo Company plc.
Market Segmentation:
The global keloid treatment market is segmented into product type, treatment, and end-users.
Based on product type the market is segmented into elastic wraps, spray, ointment, creams, oils, topical gels & gel sheets.
Based on treatment market for keloid has been segmented into ligature, radiation therapy, cry therapy, surgical treatment, laser treatment, steroid injections, corticosteroid injections (intralesional steroids), silicone gel or sheeting, occlusive dressing, compression therapy, and interferon. Corticosteroid injections treatment segments lead the global keloid treatment market as this treatment is used in combination with other therapies. Intralesional steroids injection is considered to be the second largest segment of treatment type that drives market.
On the basis of end-users, the keloid treatment market is segmented into dermatology clinics, hospitals, ambulatory surgical centers. Hospital is expected to hold the largest share in the segment market of end-users as most doctors prefer radiation therapy which has reported safe and effective use of radiation to treat keloid.
Global Keloid Treatment Market, by Product Type
- Elastic Wraps
- Sprays
- Ointment
- Creams
- Oils
- Topical Gels & Gel Sheets
Global Keloid Treatment Market, by Treatment
- Ligature
- Radiation Therapy
- Cry Therapy
- Surgical Treatment
- Laser Treatment
- Steroid Injections
- Corticosteroid injections (intralesional steroids)
- Silicone gel or sheeting
- Interferon
Global Keloid Treatment Market, by End User
- Dermatology clinics
- Hospitals
- Ambulatory surgical centers
- Others
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