Topical Scar Products Account for Nearly 9 in 10 Sales in Global OTC Scar Treatment Market: Persistence Market Research Study
Published On : Sep 08, 2022
The OTC scar treatment market was worth US$ 8.4 Bn in 2021 and is expected to expand at a CAGR of 3.8% over the forecast period (2022-2032), as per the latest industry report by Persistence Market Research.
Skin scarring caused by burns, surgeries, and injuries places a significant strain on the healthcare system. Major scarring causes functional and psychological issues for patients, especially children. The evolutionary process by which scars arise is countered by scar therapy treatment.
To prevent infection, it is speculated that wound healing has been optimized for speed rather than quality under far less sanitary conditions. With the medical and consumer industries placing an ever-increasing emphasis on skin that is aesthetically functional and attractive, this speed optimization is no longer necessary. Through a variety of documented mechanisms, silicone gel sheeting treatment addresses the physiological processes related to this speed optimization.
A permanent scar can form during the healing of damaged skin tissue, whether due to an acute injury or a more long-term disease process. Some scars, especially those resulting from serious injuries such as burns, might physically limit a patient because of the extensive skin contracture. These contractures make the skin tenser and less flexible.
Plastic surgeons and patients alike have continued to show an increased interest in therapies that stop the production of scars and minimize their appearance. Finding new and better methods for scar reduction has been aided by the rising popularity of cosmetic surgery. Current non-invasive methods for scar reduction include topical scar products such as gels, oils, sheets, and creams or ointments.
Key Takeaways from Market Study
- Topical scar products held 88.1% market share by product in 2021 in the global OTC scar treatment market.
- Atrophic scars held 38.7% market share at the end of 2021, by application.
- By distribution channel, retail pharmacies accounted for a market share of 42.3% in 2021.
- Around 35% of the global market share, by region, was accounted for by North America in 2021.
“Growing product penetration as well as improving efficacy of topical products for scar reduction and management are factors set to influence positive growth of the global OTC scar treatment market,” says an analyst of Persistence Market Research.
Leading manufacturers of OTC scar treatment products are introducing improved product revisions into the market to improve product accessibility and adoption, and thereby increase their product penetration into the global market. Key players are entering into acquisitions and mergers to gain a dominant position in the global market.
The market for OTC scar treatment products is fragmented and there is a high level of competition between existing and emerging players.
A few instances of key developments within the market are:
- A statement issued in December 2019 by Ortho Dermatologics and Bausch Health Companies Inc., in the U.S., said that for the topical treatment of acne vulgaris in patients nine years of age and older, the FDA has authorized the ARAZLOTM (tazarotene) Lotion, 0.045%, New Drug Application (NDA).
- In April 2019, Merz and Laboratoire HRA Pharma SAS announced that they had signed an asset purchase agreement, as a result of which, HRA Pharma will obtain the global rights to the Mederma® brand and its range of scar care, stretch mark treatment, and skin care products.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the OTC scar treatment market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032.
The research study is based on the product (topical scar products [gels, creams/ointments, oils, and sheets], and others), application (atrophic scars, hypertrophic scars and keloids, contractures, burns, and stretch marks), and distribution channel (hospitals pharmacies, retail pharmacies, and e-Commerce), across seven key regions of the world.
For additional insights on how the growth of the OTC scar treatment market will unfold over the decade, write to the analyst at firstname.lastname@example.org
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Otc Scar Treatment Market
Market Study on OTC Scar Treatment: North America Leads With Over One-third Market Share
Market Study on OTC Scar Treatment: North America Leads With Over One-third Market ShareRequest TOC