Albany, NY — 12/19/2017 — A new report added to the repository of Market Research Reports Search Engine “Keloid Treatment Market: Excision Projected to be the Most Attractive Treatment Type during the Forecast Period: Global Industry Analysis (2012-2016) and Opportunity Assessment (2017-2027)” is a comprehensive repository of information, providing market share, size, and forecast.
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Market introduction and factors influencing market revenue growth
Keloid is an overgrowth of the scar tissues that develop from a wound. Keloid development usually happens after the wound has healed. Keloids grow beyond the border of a scar and develop into a lump. The cause of keloid development cannot be determined but it can develop after surgery, burn injury, piercing, trauma, acne, vaccination and other wounds or cuts. According to the National Institute of Health, keloid scars are commonly seen in people in the age group 10 to 30 years of age. Keloid scars are also more commonly found in people of African American, Asian, or Hispanic descent. Increasing consciousness among people for their looks and appearance (keloids on the exposed part of the body give an ugly look and need treatment to remove or reduce the keloid size) is expected to drive the market for keloid treatment. 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.
A growing focus on reimbursement of various advanced keloid therapies is also expected to drive revenue growth of the global market. There is a noticeable increase in the adoption of advanced treatment options that can reduce the rate of recurrence of keloid scars and remove such scars completely. Also, combinations therapies are also used to improve the effectiveness of treatment and restrict the recurrence rate. However, complications pertaining to keloid treatment and higher recurrence rate post treatment are some of the factors expected to restrain revenue growth of the global keloid treatment market.
Intralesional corticosteroid injections to remain most favoured treatment type for keloid scars
Of the various treatment types currently administered in the global keloid treatment market, intralesional corticosteroid injections followed by excisions are likely to remain a favourite among physicians and patients. Intralesional corticosteroid injections are considered the standard treatment option and is given in combination with other therapies to reduce the recurrence rate of keloid scars. Intralesional corticosteroid injections is the largest segment by treatment type in the global keloid treatment market, which is estimated to represent US$ 906.0 Mn, or 28.8% share of the total market in 2017 and is projected to reach a market valuation of US$ 1,200.1 Mn, or 27.2% share of the total market by the end of the forecast period in 2027, expanding at a CAGR of 2.9% in terms of value. Excision treatment type segment is anticipated to reach a market value of US$ 1,172.1 Mn by 2027 end, expanding at a CAGR of 3.4% during the forecast period. Radiation therapy keloid treatment type segment is estimated to represent a market attractiveness index of 1.8 during the forecast period.
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The global keloid treatment market offers several opportunities to key players
Development of innovative therapies: Prevention and treatment of keloids is a challenge for the medical field. Management of keloid and hypotrophic scars has transitioned from invasive therapies, including surgical excision to topical and intralesional therapies. There is no standard treatment available for the management of keloid scars and usually, a combination of therapies is performed. There is limited evidence data available for the proper management of keloid and hypotrophic scars. However, continuous research on keloid treatment has made it possible to develop innovative therapy options for treatment. Superficial radiation therapy provides non-invasive treatment for keloid and hypotrophic scars.
The global keloid treatment market is highly underpenetrated: Keloids affect a large portion of the population, especially those having undergone surgery, trauma, burn injuries and other such conditions. There is limited impact of keloid scars on patient health and only a small portion of the patient population undertakes treatment options in keloid cases. Also, there is limited reimbursement for keloid treatment and the available treatment options are not effective for complete removal or treatment of keloid. Owning to these factors, the global keloid treatment market is highly underpenetrated. Effective treatment therapies with limited side effects and lowered risk of keloid recurrence can provide a very lucrative opportunity for companies operating in the global keloid treatment market.
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