Adoption of E-Commerce for Branding and Marketing
Due to the increasing competition, distributors of scar treatment products are reducing the price of their products to remain competitive in the market. Pricing strategies are often combined with cheaper means of product distribution, but with greater visibility. This factor has been responsible for promoting scar treatment products through online media as an effective advertisement vehicle.
Various social media platforms, blogs, and social discussion websites act as a suitable medium for posting opinionated reviews of scar treatment products as well as for rating their popularity quotient. Increasing penetration of Internet and E-commerce across the globe is largely contributing to the patient’s uptake of scar treatment products.
For example, companies such as Merz Inc., Occulus Innovative Science, Inc., and CCA Industries, Inc. are adopting various E-commerce marketing techniques to sell their topical scar treatment products. Under this technique, E-commerce companies provide their topical scar treatment products at a discounted rate either through a coupon method or through product bundling options. This strategy has been acting as a major driving factor for increasing and consistent usage, and purchase of scar treatment products by end users, in turn helping companies expand their market footprints worldwide.
Preference for Organic and Natural Products – The Recent Trend Influencing Market Growth
Increasing number of customers are shifting towards using natural and organic products to treat various skin problems. Hence, organic and natural oils and creams are gaining popularity. The demand for minimum or no side-effect natural products such as gels, oils, creams has increased globally. Companies developing topical scar treatment products have also started using natural ingredients in their products to attract more customers.
Scar treatment products containing essential oils such as aloe vera, and tea tree oil are witnessing growing demand from customers. Customers in developed countries are also opting for OTC (over the counter) products containing natural oils due to their ability to restore skin, which will ultimately upsurge the revenue growth of the scar treatment market.
New Treatment Options Foraying in Market for Atrophic Scars
Atrophic scars are also known as sunken scars that occur when the body starts losing skin tissues and is not able to generate it. There are various types of atrophic scars such as ice pick scar, box scar, rolling acne, and scars caused by trauma and surgery. Acne being the most common problem, increasing number of people are suffering from atrophic scars.
However, new atrophic scar treatments are being introduced specifically for acne scars. It has also been found that laser for scar treatment is more effective on atrophic scars as compared to dermabrasion. However, chemical peels are also being used widely to remove the layer of damaged skin during the scar treatment.
Manufacturers of Topical Products Targeting Female Patients
Most major manufacturers of topical scar treatment products targeting female population through the television medium. Celebrity endorsements and attractive advertisement taglines delivering psychologically-powerful messages (‘there is nothing to be ashamed about scars’) are the key means of product sales through local pharmacies, which sometimes even offer them without prescriptions. This phenomenon is largely observed in countries such as Indonesia, Malaysia, Philippines, Vietnam, and India. Competitive margin pricing is a key feature for these scar treatment products.
A comprehensive view of the scar treatment market has led our analysts to conclude that, the North America market is expected to dominate the global scar treatment market in terms of revenue share, owing to the high availability of advanced products and associated therapies. After that Europe and Asia Pacific will follow the global scar treatment market owing to increasing incidences of acne and rising demand for innovative, minimally invasive, and value-based technologies.
Increase in peer-review and publication of innovative combination approaches in journals of repute are factors expected to contribute to increasing awareness and adoption of scar treatment regimes. Increase in number of reported hospitalization cases for burns, trauma, and injury are expected to contribute significantly to increased demand for scar treatment products and services. Increasing awareness about personal appearance and the desire to remain youthful are some other factors expected to drive demand for aesthetic scar management services over the forecast period.
Topical scar products are expected to account for substantial market revenue shares in the global scar treatment market, owing to wider availability and lower cost of products. Furthermore, over the counter distribution and high level of e-Commerce adoption are factors expected to fuel adoption of topical scar treatment products among all sections of the patient population. Whereas, combination treatment regime involving antibiotics and retinoids, or, antibiotics followed by fractional CO2 lasers are gaining wide adoption in Asia Pacific and Middle East for scar treatment.
Persistence Market Research (PMR) recently published a market study on the global market for scar treatment. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the scar treatment market structure. The market study presents exclusive information about how the scar treatment market will grow during the forecast period 2019-2029.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, and compounded annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the scar treatment market during the forecast period.
The study is relevant for stakeholders in the scar treatment market, including scar treatment products manufactures, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the scar treatment market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to macroeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the scar treatment market. Furthermore, small businesses and new entrants in the scar treatment market too can make use of the information presented in this study, based on, which they can make appropriate business decisions in order to gain momentum in the scar treatment market.
Key Segments of Scar Treatment Market
PMR’s study on the scar treatment market offers information divided into four important segments—product type, application, end user, and region. This report offers comprehensive data and information about the important market dynamics, and growth parameters associated with these categories.
Key Questions Answered in PMR’s Scar Treatment Market Report
Scar Treatment Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the scar treatment market, and reach conclusions on future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to analysts during the production of the scar treatment market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the scar treatment market, and makes PMR’s projection on the growth prospects of the scar treatment market more accurate and reliable.