The US$ 4.65 Bn global atrophic scar treatment market is presumed to exhibit 1.3x growth by the end of 2025. Over the forecast period 2017-2025, the global market for atrophic scar treatment will reportedly grow at a CAGR of 4.6%. The overall outlook remains moderate yet positive.
Despite the economic and political uncertainty in the recent past, the global healthcare industry has been receiving positive nudges from reformative and technological disruptions in medical devices, pharmaceuticals and biotech, in-vitro diagnostics, and medical imaging. Key markets across the world are facing a massive rise in demand for critical care services that are pushing global healthcare spending levels to unimaginable limits.
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Persistence Market Researchs report on the global atrophic scar treatment market in its first part throws light on the key factors impacting the performance of the market. Favorable regulatory standards, increasing healthcare expenditure, growing inclination towards high-quality personal care, soaring demand for age-defying treatment therapies, and increasing prevalence of dermatological ailments are only a few to mention.
Persistence Market Research utilizes a triangulation methodology that is primarily based on experimental techniques such as patient-level data, to obtain precise market estimations and insights. Bottom-up approach is always used to obtain insightful data for the specific country/regions. The country specific data is again analyzed to derive data at a global level. This methodology ensures high quality and accuracy of information. Secondary research is used at the initial phase to identify the age specific disease epidemiology, diagnosis rate, and treatment pattern, as per disease indications. Each piece of information is eventually analyzed during the entire research project which builds a strong base for the primary research information. Primary research participants include demand-side users such as key opinion leaders, physicians, surgeons, nursing managers, clinical specialists who provide valuable insights on trends and clinical application of drugs, key treatment patterns, adoption rate, and compliance rate.
Quantitative and qualitative assessment of basic factors driving demand, economic factors/cycles and growth rates and strategies utilized by key players in the market is analyzed in detail while forecasting, in order to project Year-on-Year growth rates. These Y-o-Y growth projections are checked and aligned as per industry/product lifecycle and further utilized to develop market numbers at a holistic level. On the other hand, we also analyze various companies annual reports, investor presentations, SEC filings, 10k reports and press releases operating in this market segment to fetch substantial reliable information about the market size, trends, opportunity, drivers, restraints, and in the end, to analyze key players, their operating strategies, and respective market shares. Key companies are segmented at tier level based on their revenues, product portfolio, and global market presence.
Please note that these are the partial steps that are being followed while developing the market size. Besides this, forecasting will be done based on our internal proprietary model which also uses different macro-economic factors such as per capita healthcare expenditure, disposable income, industry based demand driving factors impacting the market and its forecast trends apart from disease related factors.
Among the various regional markets, North America is foreseen to remain dominant, possibly reaching revenue beyond US$ 2.6 Bn by 2025 end. APAC is identified to be the second largest regional market for atrophic scar treatment, closely trailed by Europe. China, India, and Japan will be the key regions within the Asian Pacific rim. While MEA seems to be a stably growing market, Latin America is expected to witness the fastest growth over the forecast period. According to Persistence Market Research, the market in Latin America will be most lucrative for leading players, led by Brazil due to growing popularity of cosmetic interventions.
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Key Players to Focus on Direct Feedback Analysis to Incorporate “Voice of Customer”
Among the key players operating in the global landscape of atrophic scar treatment, maximum companies are identified to concentrate more on the direct feedback analysis strategy in a bid to incorporate the “voice of customer”. Others are focusing on enhancing their core competencies and gaining an expanded market share by launching new products in the marketplace. Some of the leading companies include Smith & Nephew Inc., Merz inc., CCA Industries Inc., Avita Medical Limited, Occulus Innovative Sciences, Inc., Pacific World Corp., Valeant Inc., Enaltus LLC, Molnlycke Health Care, Cynosure, Inc., Sonoma Pharmaceuticals, Inc., Shanghai Fosun Pharmaceuticals (Alma Lasers), and LUMENIS.
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