The global keloid treatment market, valued at USD 3.8 billion in 2023, is projected to grow significantly, reaching an estimated USD 5.6 billion by 2033. This growth reflects a compound annual growth rate (CAGR) of 3.8% from 2023 to 2033, driven by the rising global prevalence of keloid scars and increasing awareness of available treatment options.
Among the various treatment types, the intralesional corticosteroid injections segment led the market, accounting for approximately 28.3% of the global share in 2021. This treatment modality is expected to maintain its dominant position throughout the forecast period, owing to its effectiveness and widespread use in managing keloid scars. With continuous advancements in treatment technologies and growing demand for aesthetic procedures, the keloid treatment market is poised for steady expansion in the coming years.
Key Market Insights
- Market Growth: The keloid treatment market is expanding due to the increasing prevalence of keloids, which are abnormal growths of scar tissue that can occur after skin injuries. The rising awareness of keloid treatments and advancements in medical technologies are also contributing to market growth.
- Dominant Treatment Segment: Among various treatment options, the intralesional corticosteroid injections segment held a significant share of approximately 28.3% in 2021 and is expected to maintain its dominance throughout the forecast period. This treatment is considered a gold standard for managing keloids due to its effectiveness in reducing scar size and discomfort.
Driving Factors
- Rising Incidence of Keloids: The increasing number of individuals affected by keloids is driving demand for effective treatment solutions. Factors such as genetics, skin type, and the frequency of skin injuries contribute to the prevalence of keloids.
- Government Awareness Programs: Initiatives aimed at raising awareness about cancer and skin disorders are enhancing public knowledge regarding available treatment options, further boosting market demand.
- Advancements in Treatment Technologies: Continuous improvements in treatment methodologies, including laser therapy, cryotherapy, and surgical excision techniques, are expanding the range of effective options for patients.
Regional Dynamics
- North America: This region is expected to dominate the keloid treatment market due to a high prevalence of skin-related issues and advanced healthcare infrastructure. The U.S. market is particularly strong, supported by increased access to dermatological care and innovative treatment options.
- Asia-Pacific: Anticipated to witness significant growth, driven by rising healthcare investments and an increasing number of individuals seeking aesthetic treatments.
Competitive Landscape
The global market is highly fragmented due to numerous rivals in this space. Leading businesses employ mergers and acquisitions, alliances and collaborations, and new product releases to satisfy consumer demand and increase their client base.
Some recent developments in the global market are:
- Two Singapore approvals of Sonoma Pharmaceuticals’ Microcyn (hypochlorous acid) for treating atopic dermatitis and hypertrophic / keloid scars were announced in June 2017.
- The RECELL System for treating acute burns was covered by insurance in Japan, according to an announcement made by AVITA Medical, Inc. in September 2022 by COSMOTEC, an M3 Group Company.
- In February 2022, Avita Medical Inc. received approval from Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) in Japan to market the RECELL System in Japan.
- In April 2021, Sensus Healthcare announced the installation of its 500th SRT unit.
A Detailed Full Report
Keloid Treatment Market by Segmentation
By Treatment:
- Occlusive Dressing
- Compression Therapy
- Cryosurgery
- Excision
- Radiation Therapy
- Laser Therapy
- Interferon Therapy
- Intralesional Corticosteroid Injections
- Others
By End User:
- Hospitals
- Dermatology Clinics
- Ambulatory Surgical Centers (ASCs)
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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