July 21, 2024

 The North America Scar Treatment Market Is Driven By Increasing Road Traffic Accidents

Scar treatment involves reducing the appearance of existing scars and preventing formation of new scars. Scars can occur due to minor injuries, burns, acne, chickenpox, and other skin conditions. They are also commonly caused by road traffic accidents and surgeries. In North America, rising road accidents have increased the demand for scar treatment products. Various scar treatment cream, gels, laser therapy, chemical peels, injectables and surgery are used to minimize scarring. Laser therapy helps reduce scars by breaking down scar tissues. Chemical peels aid in the exfoliation and regrowth of new skin cells to diminish the appearance of scars. Scar treatment creams containing silicone, onion extract and vitamin E hydrates the scarred skin and promote healing.

The global North America Scar Treatment Market is estimated to be valued at Us$ 4348.7 Mn in 2023 and is expected to exhibit a CAGR Of 7.4% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Over the years, increasing availability of advanced scar treatment options has been a major trend in the North America scar treatment market. For instance, fractional laser resurfacing uses a low-intensity laser on scars to induce microscopic wounds, stimulating collagen production and resulting in smoother skin texture. Fractional lasers are minimally invasive and provide great improvement for acne scars. Similarly, laser scar revision is a targeted treatment that works by heating and shrinking the scar tissue using precise laser beams. With technological advancements, laser scar treatment procedures have become more effective with minimal side effects and faster healing time. Another key trend is growing demand for scar treatment products based on organic and natural ingredients. Consumer preference for chemical-free solutions is driving innovations in herbal and Ayurvedic scar reducing gels and creams.

Porter’s Analysis

Threat of new entrants: The North America scar treatment market requires high capital investment for R&D activities and regulatory approvals, which acts as a barrier for new entrants.

Bargaining power of buyers: The presence of many established players in the market increases bargaining power of buyers. Buyers can negotiate on prices and demand innovative products.

Bargaining power of suppliers: Established suppliers have significant influence over buyers due to proprietary technologies used in scar treatment processes and products.

Threat of new substitutes: Introduction of new advanced treatment options acts as substitutes and increase competition in the market.

Competitive rivalry: The North America scar treatment market witnesses strong competition due to large number of regional and international players.

Key Takeaways

The Global North America Scar Treatment Market Demand is expected to witness high growth. The market is projected to reach US$ 6293.1 Mn by 2030 from US$ 4348.7 Mn in 2023, expanding at a CAGR of 7.4% during the forecast period.

Regional analysis

 

The United States is expected to hold the largest share of the North America scar treatment market during the forecast period. High healthcare expenditure, presence of major players, and advanced healthcare infrastructure are some key factors supporting market growth in the region.

Key players

Key players operating in the North America scar treatment market are DPR Construction, Inc., Turner Construction Co., Holder Construction Company, Hensel Phelps Construction Co, Balfour Beatty US, Helix Electric, Sudlows, Kraus Anderson Construction, The Beck Group, PCL Construction Enterprises, The Walsh Group, Hill International, and Engineered Structures, Inc. (ESI). DPR Construction, Inc. holds the leading position in the market and offers a wide range of scar treatment products and services.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it