Keloid Treatment Market

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Keloid Treatment Market

An Incisive, In-depth Analysis on the Keloid Treatment Market

This study offers a comprehensive, 360 degree analysis on the Keloid Treatment market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Keloid Treatment market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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Market introduction and factors influencing market revenue growth

Keloid is an overgrowth of the scar tissues that develop from a wound. Keloid development usually happens after the wound has healed. Keloids grow beyond the border of a scar and develop into a lump. The cause of keloid development cannot be determined but it can develop after surgery, burn injury, piercing, trauma, acne, vaccination and other wounds or cuts. According to the National Institute of Health, keloid scars are commonly seen in people in the age group 10 to 30 years of age. Keloid scars are also more commonly found in people of African American, Asian, or Hispanic descent. Increasing consciousness among people for their looks and appearance (keloids on the exposed part of the body give an ugly look and need treatment to remove or reduce the keloid size) is expected to drive the market for keloid treatment. The demand for keloid treatment is expected to surge owing to the increasing incidence of the scars, the shift from monotherapy to combination therapy and increasing adoption of advanced cryosurgery and radiation therapy devices.

A growing focus on reimbursement of various advanced keloid therapies is also expected to drive revenue growth of the global market. There is a noticeable increase in the adoption of advanced treatment options that can reduce the rate of recurrence of keloid scars and remove such scars completely. Also, combinations therapies are also used to improve the effectiveness of treatment and restrict the recurrence rate. However, complications pertaining to keloid treatment and higher recurrence rate post treatment are some of the factors expected to restrain revenue growth of the global keloid treatment market.

Intralesional corticosteroid injections to remain most favoured treatment type for keloid scars

Of the various treatment types currently administered in the global keloid treatment market, intralesional corticosteroid injections followed by excisions are likely to remain a favourite among physicians and patients. Intralesional corticosteroid injections are considered the standard treatment option and is given in combination with other therapies to reduce the recurrence rate of keloid scars. Intralesional corticosteroid injections is the largest segment by treatment type in the global keloid treatment market, which is estimated to represent US$ 906.0 Mn, or 28.8% share of the total market in 2017 and is projected to reach a market valuation of US$ 1,200.1 Mn, or 27.2% share of the total market by the end of the forecast period in 2027, expanding at a CAGR of 2.9% in terms of value. Excision treatment type segment is anticipated to reach a market value of US$ 1,172.1 Mn by 2027 end, expanding at a CAGR of 3.4% during the forecast period. Radiation therapy keloid treatment type segment is estimated to represent a market attractiveness index of 1.8 during the forecast period.

The global keloid treatment market offers several opportunities to key players

Development of innovative therapies: Prevention and treatment of keloids is a challenge for the medical field. Management of keloid and hypotrophic scars has transitioned from invasive therapies, including surgical excision to topical and intralesional therapies. There is no standard treatment available for the management of keloid scars and usually, a combination of therapies is performed. There is limited evidence data available for the proper management of keloid and hypotrophic scars. However, continuous research on keloid treatment has made it possible to develop innovative therapy options for treatment. Superficial radiation therapy provides non-invasive treatment for keloid and hypotrophic scars.

The global keloid treatment market is highly underpenetrated: Keloids affect a large portion of the population, especially those having undergone surgery, trauma, burn injuries and other such conditions. There is limited impact of keloid scars on patient health and only a small portion of the patient population undertakes treatment options in keloid cases. Also, there is limited reimbursement for keloid treatment and the available treatment options are not effective for complete removal or treatment of keloid. Owning to these factors, the global keloid treatment market is highly underpenetrated. Effective treatment therapies with limited side effects and lowered risk of keloid recurrence can provide a very lucrative opportunity for companies operating in the global keloid treatment market.

Report introduction and structure

This Future Market Insights (FMI) report examines the global keloid treatment market for the period 2017–2027. The primary objective of the report is to offer insights into developments in the keloid treatment market that are impacting global businesses and enterprises. This report covers the global keloid treatment market performance in terms of revenue contribution from various segments. The report also includes FMI analysis of key trends, drivers, restraints and opportunities that are influencing growth of the global keloid treatment market. Impact analysis of key growth drivers and restraints are included in this report to better equip clients with crystal clear decision-making insights.

The global keloid treatment market is segmented as follows:

Keloid treatment market, by treatment type
Keloid treatment market, by end user
Keloid treatment market, by region

The keloid treatment market report begins with an overview of keloid treatment and key market definitions. This section also underlines factors influencing revenue growth of the global keloid treatment market along with a detailing of the key trends, drivers, restraints, and opportunities. The next section of the report analyses the market based on treatment type and presents the forecast in terms of value for the next 10 years. Treatment types covered in the report include:

Occlusive Dressing
Compression Therapy
Cryosurgery
Excision
Radiation Therapy
Laser Therapy
Interferon Therapy
Intralesional Corticosteroid Injection
Others

The subsequent section covers the market analysis based on end user and presents the forecast in terms of value for the next 10 years. End users considered in the report include:

Hospitals
Dermatology Clinics
Ambulatory Surgical Centres
Others

The next section of the report highlights the growth trends of the keloid treatment market across various regions, providing a market outlook for 2017–2027 and setting the forecast within the context of the keloid treatment market. The study discusses key regional trends contributing to the growth of the keloid treatment market worldwide, as well as analyses the extent to which drivers are influencing this market in each region. Key regions assessed in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East & Africa.

Research methodology adopted to forecast key market numbers

We have taken into consideration the year-on-year growth to understand the predictability of the market and to identify the right growth opportunities in the global keloid treatment market. An important feature of this report is the analysis of key segments in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical for assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global market.

Competition analysis featuring top players in the global keloid treatment market

In the final section of the report, a competitive landscape is included to provide report audiences with a dashboard view, to access the key differentiators among the various competitor firms operating in the global keloid treatment market. Detailed company profiles include company-specific long-term and short-term strategies, key market offerings and recent developments in the global keloid treatment market.