Keloid Treatment Market Size, Share, Industry, Forecast and outlook (2023-2030)

Keloid Treatment Market is segmented By Treatment Type (Occlusive Dressing, Compression Therapy, Cryosurgery, Excision, Radiation Therapy, Laser Therapy, Interferon Therapy, Intralesional Corticosteroid Injection, Others), By Distribution Channel (Hospitals, Dermatology Clinics, Ambulatory Surgical Centers, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

Keloid Treatment Market Overview

Keloid Treatment Market is expected to reach at a CAGR of 9.9% during the forecast period (2023-2030). Keloids are a type of raised scar caused by an excess of a protein (collagen) in the skin during healing after an injury. Keloids are often lumpy or ridged but are not harmful and are usually self-diagnosable. Anything that can cause scarring can cause a keloid, which can grow much larger than the original injury itself. The goal of keloid treatments is to soften, flatten, or shrink the keloid as they can be hard to eliminate and tend to return after treatment. Healthcare professionals typically prefer combination treatment to achieve high treatment efficacy rates.

Keloid treatment market study analysis offers an in-depth outlook on the market containing quantitative and qualitative data. It gives an outlook and forecast of the global market based on market segmentation. It also provides global keloid treatment market size, and growth, along with the latest trends, opportunities, and forecast till 2029 for the global market with esteem to major countries such as the United States, Canada, Brazil, Germany, Italy, Spain, United Kingdom, Russia, European countries, United Arab Emirates, Saudi Arabia, South Africa, Japan, China, India, South Korea, Australia, and rest of the countries over the globe.

Among all regions, the North American keloid treatment market is expected to hold the largest share of the global market over the forecast period. Whereas the European keloid treatment market is projected to continue its presence globally during the period of 2023- 2030.

Keloid Treatment Market Summary and Scope

Keloid Treatment Market Dynamics and Trends

Factors such as rising technological advancements in skincare and scar removal, increasing awareness regarding products and treatment options for keloids among patients, and the ever-rising focus on appearance are driving the global market for keloid treatment. Moreover, the increasing number of traumatic surgeries and burn cases and the increased expenditure on personal care products significantly contribute to developing the market for keloid treatment.

Innovation in drug discovery for keloid treatment is expected to drive market growth.

There are conventional treatment options available, and advances in understanding the molecular mechanisms underlying keloids and hypertrophic scars have resulted in a new generation of drug discovery and the development of novel, emerging anti-pathologic scar treatments. For instance, Verapamil, an antihypertensive medication, works on keloids and hypertrophic scars by lowering calcium levels within the cells. Autologous fat grafting (also known as lipotransfer) of adipose tissue-derived stem cells (ADSCs) has improved scar texture, pliability volume, and elasticity in patients with keloids. Furthermore, Mesenchymal stem cells (MSCs) have demonstrated a strong ability to accelerate wound healing and regeneration by secreting differentiation and growth factors that promote migration, angiogenesis, and up-regulate epithelialization and collagen remodeling. Thus, from the above-mentioned factors, the market is expected to drive in the forecast period.

The high cost of the keloid treatment is expected to hamper the market growth in the forecast period.

Keloid removal is regarded as a cosmetic procedure and is rarely covered by health insurance. Depending on the basis of type and duration of treatment, the cost of keloid removal can range from $75 to $2,000 or more. Bigger and more severe keloids will cost more to treat. For instance, due to the high recurrence rate of keloids, surgery is frequently the last resort or reserved for severe cases. The surgery costs around $500 for a small keloid to $2,500 for a complex keloid (hard to reach, larger). Thus, from the above-mentioned factors, the market is expected to get hampered in the forecast period.

Keloid Treatment Market Segmentation Analysis

Steroid Injections segment is expected to hold the largest market share in keloid treatment

The steroid injections segment is accounted for the largest share in 2021 among other segments. The segment benefits because, in hospitals, steroid injections are commonly used to remove scars. Also, many patients have used this treatment method over the years, which can help reduce the appearance of abnormal and unsightly scars. Aside from that, steroid injection has proven to be a quick and cost-effective alternative for keloid treatment, with a long-lasting effect compared to other treatment options. For instance, Kenalog-10 Injection is indicated for the treatment of discoid lupus erythematosus, keloids, alopecia areata, localized hypertrophic, infiltrated, inflammatory lesions of granuloma annulare, lichen simplex chronicus (neurodermatitis), lichen planus, and psoriatic plaques, and necrobiosis lipoidica diabeticorum. Kenalog-10 Injection may also be useful in cystic aponeurosis or tendon tumors (ganglia). Thus, from the above-mentioned factor, the market segment accounted for the largest market share in the forecast period.

Keloid Treatment Market Geographical Share

North America region holds the largest market share in the global keloid treatment  

North America region accounted for the largest market share in 2021. Owing to the high prevalence of burn injuries and skin-related disorders and trauma, coupled with the relatively high and easy availability and the adoption of new products, technologies, treatment alternatives, product launches, and collaboration by the key market players in the region are the factors to drive the market in the forecast period. For instance, according to the American Burn Association Report 2022, Burn Injuries directly affect more than 500,000 people annually in the United States. Moreover, the high disposable income of people in this region, increasing awareness of treatments by the consumer, and favorable reimbursement scenarios for skin treatment are responsible for the rapid growth of the North American market for keloid treatment. For instance, Cigna is an American multinational managed healthcare and insurance company that covers treatment for keloid sternotomy scars.

Additionally, on August 09, 2022, Sensus Healthcare, Inc. announced the introduction of a new state-of-the-art solid-state High-Frequency Ultrasound to its full-featured SRT-100 Vision system. The system includes a newly designed ergonomic probe for improved handling and ease of use. The SRT-100 Vision system assesses basal and squamous cell carcinomas and keloid tissue and provides targeted and precise treatment. Furthermore, the LesionCam records each session, allowing doctors to closely monitor any changes in the lesion and tailor treatment accordingly. Thus, from the above-mentioned factors, the North America region is accounted for the largest market share in the forecast period.

Keloid Treatment Market Companies and Competative Landscape

Major key players in the market are Bristol-Myers Squibb Company, Valeant Pharmaceuticals International Inc., Renovo Group Plc, Galena Biopharma Inc., Pacific World Corporation, Novartis AG, GlaxoSmithKline Plc., RXi Pharmaceuticals Inc., Revitol Corporation and Avita Medical Limited.

In February 2022, Avita Medical Inc. was approved by Japan's Pharmaceuticals and Medical Devices Agency (PMDA) to market the RECELL System in Japan.

Bristol-Myers Squibb Company:

Overview:

Bristol Myers Squibb is one of the global biopharmaceutical company that discovers, develops and delivers innovative medicines that help patients prevail over serious diseases. The company has advancements in oncology, hematology, immunology and cardiovascular disease. It is dedicated to helping patients prevail over serious diseases through its diverse and promising pipelines and new scientific platforms. Bristol Myers Squibb is at the forefront of oncology with an extensive portfolio of investigational compounds and approved medicines.

­Product Portfolio:

Kenalog-10 Injection (triamcinolone acetonide injectable suspension, USP): Kenalog-10 Injection is indicated for the treatment of keloids, localized hypertrophic, infiltrated, inflammatory lesions of granuloma annulare, lichen planus, alopecia areata, discoid lupus erythematosus, lichen simplex chronicus (neurodermatitis), and psoriatic plaques, and necrobiosis lipoidica diabeticorum. Kenalog-10 Injection may also be useful for cystic aponeurosis or tendon tumors (ganglia).

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