The global keloid treatment market is projected to grow steadily, reaching a valuation of USD 5.6 billion by 2033 from USD 3.8 billion in 2023, with a compound annual growth rate (CAGR) of 3.8% over the forecast period. The increasing prevalence of keloids worldwide is driving the demand for advanced and effective treatment options.
The intralesional corticosteroid injections segment has emerged as the dominant treatment type, capturing 28.3% of the market share in 2021. This trend is expected to persist through 2033, driven by the efficacy of corticosteroid injections in reducing inflammation, minimizing scar tissue, and preventing further keloid growth.
The market growth is further supported by advancements in therapeutic technologies and heightened awareness of aesthetic and medical management options for keloid scars. Dermatological clinics and hospitals are witnessing an uptick in patient visits, underscoring the need for innovative solutions to address this growing concern.
A Full Report Overview – https://www.futuremarketinsights.com/reports/keloid-treatment-market
Key Takeaways:
- Market Growth: Valuation to increase from $3.8 billion in 2023 to $5.6 billion by 2033 at a 3.8% CAGR.
- Leading Segment: Intralesional corticosteroid injections held 28.3% of the market share in 2021, a trend expected to continue.
- Driving Factors: Rising global prevalence of keloids and increasing adoption of advanced treatment solutions.
- Future Trends: Ongoing innovations in therapeutic technologies to further enhance market growth.
This growth reflects the rising demand for effective keloid treatments, offering hope for improved patient outcomes and advancements in scar management globally.
Growth Drivers
- Rising Prevalence of Keloids: The increasing incidence of keloids globally is a primary factor driving demand for effective treatment options. Keloids, which are abnormal growths of scar tissue, can occur due to various skin injuries and are becoming a widespread concern.
- Awareness and Education Campaigns: Government initiatives and awareness programs, especially on occasions like World Cancer Day, are enhancing public knowledge about keloids and available treatment options, leading to increased patient engagement.
- Advancements in Treatment Modalities: Continuous improvements in treatment technologies, including innovations in intralesional corticosteroid injections, laser therapy, and surgical techniques, are enhancing the effectiveness of keloid treatments.
- Increased Focus on Aesthetic Outcomes: As patients become more conscious of their appearance, the demand for effective scar management solutions is growing, further propelling the market.
Treatment Segmentation
- The intralesional corticosteroid injections segment dominated the market with a share of approximately 28.3% in 2021, and this trend is expected to continue during the forecast period due to its effectiveness in reducing keloid size and discomfort.
Regional Insights
- The United States is anticipated to hold a significant share of the market due to advanced healthcare infrastructure and high rates of dermatological consultations.
- Other regions, particularly in Europe and Asia-Pacific, are also expected to contribute to market growth as awareness and access to treatment options increase.
Competitive Landscape
The global market is highly fragmented due to numerous rivals in this space. Leading businesses employ mergers and acquisitions, alliances and collaborations, and new product releases to satisfy consumer demand and increase their client base.
Some recent developments in the global market are:
- Two Singapore approvals of Sonoma Pharmaceuticals’ Microcyn (hypochlorous acid) for treating atopic dermatitis and hypertrophic / keloid scars were announced in June 2017.
- The RECELL System for treating acute burns was covered by insurance in Japan, according to an announcement made by AVITA Medical, Inc. in September 2022 by COSMOTEC, an M3 Group Company.
- In February 2022, Avita Medical Inc. received approval from Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) in Japan to market the RECELL System in Japan.
- In April 2021, Sensus Healthcare announced the installation of its 500th SRT unit.
Key Companies Profiled
Novartis AG; Sensus Healthcare; RXi Pharmaceuticals, Inc.; Sonoma Pharmaceuticals, Inc.; Perrigo Company plc.; Bristol-Myers Squibb Company; Pacific World Corporation; Valeant Pharmaceuticals International, Inc.; Revitol Corporation; Avita Medical Limited
Keloid Treatment Market by Segmentation
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 Centers (ASCs)
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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