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.
Albany, NY -- (SBWIRE) -- 01/19/2018 -- According to a research report added to the repository of Market Research Reports Search Engine (MRRSE), the global keloid treatment market is likely to grow at a CAGR of over 3% to reach a valuation of US$ 4.4 Bn by the end of 2027. According to the report titled "Keloid Treatment Market: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)", growing emphasis on keloid treatment and spurt in the reimbursement policies is likely to provide an impetus to the growth of the keloid treatment market.
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Growing awareness among patients about the techniques available for treatment of keloids is a key factor that is driving the growth of the keloid treatment market. Further, increase in the prevalence of multiple keloids is also driving the adoption of keloid treatment in clinics. However, the adoption of keloid treatment isn't as widespread in developing countries as it is developed countries. This is impeding the growth of the market in developing countries.
The report offers detailed segmentation to give users insights about the key treatment types available in the market. The key treatment types include occlusive dressing, laser therapy, compression therapy, interferon therapy, intralesional corticosteroid injection, and cryosurgery. Among these, the demand for intralesional corticosteroid injections are likely to remain the largest segment by treatment type. The segment was estimated to account for nearly 29% revenue share of the market in 2017.
By end-user, the key segments include hospitals, dermatology clinics, and ambulatory surgical centers. The report analyzes the market value of keloid treatment in each of these end-users has been analyzed in detail, with year by year forecasts offered for the forecast period 2017-2027. According to the report, hospitals are the largest end-users, and account for the largest market share on the basis of end-users.
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On the basis of regions, the report offers market forecast and analysis on North America, Western Europe, Eastern Europe, Japan, Asia Pacific excluding Japan (APEJ), and Middle East & Africa (MEA). According to the report, North America continues to be the leading market for keloid treatment globally. The market in North America is dominated by the US, with Canada accounting for a minority market share. The North America keloid treatment market is valued at over a US$ 1 billion, and it is projected to grow at a CAGR of 3.4% during the assessment period.
The report also profiles some of the leading players in the keloid treatment market. According to the report, Sensus Healthcare, Pacific World Corporation, Novartis AG, Valeant Pharmaceuticals International, Sonoma Pharmaceuticals, Inc.,RXi Pharmaceuticals, Inc., Perrigo Company plc, Revitol Corporation Bristol-Myers Squibb Company, Inc., and Avita Medical Limited.
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