The global keloid treatment market is experiencing significant growth, driven by increasing prevalence of keloid formation and the development of innovative treatment methods. According to a new report by InsightAce Analytic, the market is valued at £2.8 billion in 2022 and is expected to reach £3.7 billion by 2031, with a compound annual growth rate (CAGR) of 3.4%.
Keloids, which are raised, thickened scars that can extend beyond the original wound site, are often caused by injuries, surgeries, or a genetic predisposition. The rise in road accidents and burn cases is further fuelling demand for effective scar management solutions.
Laser Therapy: A Key Driver in Keloid Treatment
The report highlights the increasing popularity of laser therapy for scar treatment and removal. This non-invasive technique is becoming a preferred option due to its effectiveness in reducing the appearance and size of keloids. The growth in burn cases has also increased demand for keloid treatments, as plastic surgery and resurfacing laser therapies are often used to address these challenging scars.
Leading Players in the Keloid Treatment Market
Several companies are leading the way in developing and commercialising effective keloid treatments. Key players include:
Novartis AG
Sensus Healthcare
RXi Pharmaceuticals
Sonoma Pharmaceuticals
Perrigo Company plc
Bristol-Myers Squibb
Pacific World Corporation
Valeant Pharmaceuticals
Revitol Corporation
Avita Medical Limited
Challenges and Opportunities
While the keloid treatment market is expanding, it faces challenges such as the complexity of some treatments, potential side effects, and the lengthy regulatory approval process for new therapies. However, advancements in technology are creating innovative and less invasive solutions, offering greater patient comfort and improved outcomes.
Regional Trends
North America is expected to dominate the market, fuelled by the adoption of cutting-edge technologies and a high disposable income among the population. The Asia-Pacific region is projected to experience rapid growth due to rising awareness of aesthetics, increasing healthcare expenditure, and a growing population.
Recent Developments
In October 2022, Sensus Healthcare announced a retrospective study demonstrating that combining keloidectomy (surgical removal) with superficial radiation therapy (SRT) significantly reduces the recurrence rate to approximately 10%. This is a significant improvement compared to the conventional surgical approach, which often results in over 80% recurrence rates.
Key Market Segments
The report further segments the keloid treatment market by treatment type and end-user:
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 Clinics (ASCs)
Others
Conclusion
The keloid treatment market is poised for continued growth in the coming years, driven by increasing awareness, technological advancements, and a rising demand for effective and minimally invasive scar management solutions. As research and development continue to progress, patients can expect even more innovative and effective treatment options in the future, leading to improved outcomes and a better quality of life.