Global "Keloid Treatment Market" is expected to reach a high CAGR of 9% during the forecasting period (2021 -2028).
Keloids are a type of raised scar that is caused by an excess of a protein (collagen) in the skin during healing after an injury. Keloids are often lumpy or ridged but are not harmful and are usually self-diagnosable. Anything that can cause scarring can cause a keloid, and they can grow to be much larger than the original injury itself. This includes being burned, cut, or having severe acne. Keloids sometimes show up a few months after the skin was injured and continue to grow for years or can last for lifelong. The goal of keloid treatments is to soften, flatten, or shrink the keloid as they can be hard to get rid of entirely and have the tendency to return after treatment. Healthcare professionals typically prefer combination treatment to achieve high treatment efficacy rates.
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The global market for the Keloid Treatment Market is primarily driven by the rising technological advancements in skincare and scar removal, increasing awareness regarding products and treatment options for keloids among patients, and the ever-rising focus on appearance. Moreover, the increasing number of traumas surgeries and burn cases and the rise in expenditure on personal care products significantly contribute towards the development of the keloid treatment market. For instance, of the scar conditions identified 17% were reported as due to trauma, 14% to burns, and the remaining 69% to operations or other and unspecified causes. Keloids can appear anywhere on the body and affect an estimated 10-15% of all wounds. Out of 6.2 million reconstructive procedures performed on patients in a year, 250,000 surgeries are related to scar revisions. According to the National Institute of Health, keloid scars are most commonly found in people of Asian, African American, or Hispanic descent.
However, the high cost of laser-based treatment may hinder the market progress.
By Treatment Type, the Global Keloid Treatment Market is segmented into Occlusive Dressing, Compression Therapy, Cryosurgery, Excision, Radiation Therapy, Laser Therapy, Interferon Therapy, Intralesional Corticosteroid Injection, and others. Intralesional Corticosteroid Injection holds a significant market share as they are considered the standard treatment option and are favored among physicians and patients as they reduce the recurrence rate of keloids. Intralesional Corticosteroid Injection has proved to be rapid and cost-effective alternative for Keloid Treatment compared to other treatment options, and they offer a long-lasting effect on scar visibility. Occlusive Dressing accounts for a substantial market share owing Silicone-based products are currently trending and are recommended as the first-line option to preventing and treating excessive scarring after surgery or trauma. Moreover, the products are readily available to consumers as Over-the-Counter (OTC) products, which is increasing its adoption rate, thereby its demand. Radiation Therapy and Laser Therapy segments are fast growing as they have minimized healing time and lesser adverse effects and are relatively painless. Moreover, technological advancements and new product launches are expected to boost market share growth. For instance, In August 2018, Sensus Healthcare received 510k clearance from the U.S. FDA for the non-invasive treatment of non-melanoma skin cancers and keloids with SRT-100+, an Image-Guided Superficial Radiation Therapy (IGSRT).
North America holds the largest market share and is expected to show steady development owing to the high prevalence of skin-related disorders and trauma coupled with the relatively high and easy availability as well as the adoption of new products, technologies, and treatment alternatives. For instance, there are about 93 million people in the United States suffering from scars, out of which about 169 million scars can be characterized as hypertrophic and keloid scars. Annually, 1.1 million burn injuries require medical attention in the US. Moreover, the high disposable income of people in this region, increasing awareness of treatments by the consumer, and favorable reimbursement scenarios for skin treatment are responsible for the rapid growth of the North American keloid treatment market. For instance, in the US, the Scar treatment for burn injuries is covered under government reimbursement policies.
The Asia Pacific is expected to witness the fastest market growth for keloid treatment owing to the increased focus on the appearance and presence of a large number of manufacturers. Moreover, the availability of technologically advanced products such as laser instruments, at lower prices is expected to boost their adoption, coupled with a significant presence of target population in the region is propelling market expansion. For instance, there are more than 10 million cases per year in India alone. According to the World Health Organization (WHO), in India, over 1,000,000 people are moderately or severely burnt every year. Other divers encouraging the market growth for keloid treatment are the increasing disposable incomes and improving healthcare facilities in the region.
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Key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product drugs and increasing R&D are other ways the leading players improve their market presence. For instance –
In April 2019, Xstrahl Medical, one of the key companies in superficial radiotherapy devices to treat non-melanoma skin cancer and dermatological conditions, launched its latest superficial radiotherapy treatment system. The new Xstrahl 150 system will be the company's most comprehensive superficial system, offering clinicians the ability to treat superficial lesions– from basal cell carcinoma and squamous cell carcinoma to keloid scars and dermatological conditions such as psoriasis- and the full range of non-melanoma skin cancer cases with optimum dose control.
In February 2019, Soliton, Inc., a medical technology company that has developed a new acoustic shockwave device, announced that it has built a second-generation device that is potentially capable of delivering treatment for cellulite reduction, tattoo removal, and other fibrotic disorders, such as keloid scarring. The device will be used in clinical trials and will require premarket clearance by the FDA prior to commercialization.
In October 2018, Sonoma Pharmaceuticals, Inc. announced newly published results from a study into the use of the company’s proprietary Performance Stabilized HOClTM (hypochlorous acid) for the management of scars. The primary objective of the scar study was to compare the results of treating hypertrophic and keloid scars with Sonoma’s proprietary Performance Stabilized HOCl with silicone gel versus ordinary silicone gel.
In October 2018, Scarless Laboratories Inc., an early-stage biotechnology company based at UCLA, received federal clearance by the U.S. Food and Drug Administration for a phase I and phase II trial to study a peptide to promote wound healing and improve scar appearance.
In August 2018, Sensus Healthcare, Inc., a medical device company specializing in the non-invasive treatment of non-melanoma skin cancers (NMSC) and keloids with Image-Guided Superficial Radiation Therapy (IGSRT), announced that it received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to market its new SRT-100+, the next-generation Superficial Radiation Therapy solution.
The global market for the Keloid Treatment Market is primarily driven by the rising technological advancements in skincare and scar removal, increasing awareness regarding products and treatment options for keloids among patients and the ever-rising focus on appearance.
Intralesional Corticosteroid Injection holds a significant market share as they are considered the standard treatment option and are favored among physicians and patients as they reduce the recurrence rate of keloids
North America holds the largest market share and is expected to show steady development owing to the high prevalence of skin-related disorders and trauma coupled with the relatively high and easy availability as well as the adoption of new products, technologies, and treatment alternatives.
New product drug and increasing R&D are other ways the leading players improve their market presence. For instance, in October 2018, Scarless Laboratories Inc. received federal clearance by the U.S. Food and Drug Administration for a phase I and phase II trial to study a peptide to promote wound healing and improve scar appearance.
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