Acne Scar Treatment Market: Introduction
According to the report, the global acne scar treatment market was valued at US$ 6 Bn in 2020 and is projected to expand at a moderate CAGR from 2021 to 2031. Scars, especially those on exposed parts of the body, can adversely affect appearance, thereby affecting self-confidence of an individual. Increase in the number of dermatology treatments in clinics can be attributed to surge in disposable income, improvements in appearance, and prevent early onset of aging. According to the U.S.-based National Institute of Aging and American Academy of Plastic Surgeons, a significant percentage of the population of the U.S., primarily aged between 18 and 30, avails advanced skin, scar, and dermatology services. This creates opportunities for product manufacturers.
North America dominated the global acne scar treatment market in 2020, followed by Europe and Asia Pacific. Well-established healthcare and life science industries, early adoption of technologically advanced products, and increase in the geriatric population, which has led to rise in the number of patients visiting hospitals & clinics are the major factors attributed to North America’s large market share in 2020.
Surge in Adoption of eCommerce as Branding and Marketing Platform to Drive Global Market
Distributors of scar treatment products are reducing prices to gain a competitive edge in the market. Pricing strategies are often combined with inexpensive means of product distribution with greater visibility. This makes online media an effective advertising medium. Various social media platforms, blogs, and social discussion websites act as suitable medium for posting opinionated reviews of products and rating their popularity measures. This leads to an increase in penetration of Internet and eCommerce in the globally.
Importance of Appearance to Fuel Market Growth
Social expectations and the importance of appearance among men and women play a significant role in creating a culture wherein unblemished skin is highly valued, regardless of gender. According to a study conducted by the International Journal of Women's Dermatology, psychological consequences that participants felt first due to acne scars included reduced self-esteem, poor self-image, self-consciousness, and embarrassment. The study also stated that 97% of patients were bothered about facial involvement of acne vulgaris. Clinical severity was equal in men and women. Perceived transmissibility was a concern for many, and led to taunting and teasing due to acne scars. Patients are more satisfied with results after medical versus non-medical treatment. According to the Indian Journal of Dermatology, acne vulgaris is a common skin disease in India, with prevalence reaching up to 80% during adolescence.
Prominent Regions in Acne Scar Treatment Market
In terms of region, the global acne scar treatment market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global acne scar treatment market in 2020, followed by Europe and Asia Pacific. Increase in the geriatric population has led to a rise in the number of patients visiting hospitals & clinics. Moreover, advanced technologies and consumption of topical medications are likely to drive the market in North America during the forecast period. The acne scar treatment market in Europe is projected to expand at a considerable CAGR from 2021 to 2031. The market in the region is anticipated to be driven by early onset of aging and increase in propensity to afford aesthetic correction services. Moreover, the market in Europe is propelled by available reimbursement for prescription treatment deemed medically necessary and state-controlled drug pricing system.
Global Acne Scar Treatment Market: Segmentation
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