2022 was another year full of innovation, continued growth, and happy clients on their way to scar management success. As we look forward to 2023, we recap the past year while gearing up for the new year ahead.
In 2022, we explored scar treatment history and learned of ancient scar treatment options, jumped to the current era with advice for sunny summer-body confidence, evaluated the consumer base of hypertrophic scar treatments and evaluated the expanse from hospitals and clinics to individual clients, and recapped the market trends of 2022. Despite the high demand for chemicals and materials during the COVID pandemic leading to shortages in raw materials and high prices, we continued to add capacity to cater to customers of emergency surgery that were not rescheduled due to hospital capacity challenges. Thankfully, 2023 holds high expectations for the scar management industry.
The global Scar Treatment market size is projected to reach USD 1484.6 million by 2027, from USD 913.6 million in 2020, at a CAGR of 7.2% during 2023-2027. Following the effect of COVID-19 on the skin care and scar treatment market, these are great predictions following problems with supply and material shortages, medical complications, and more. Still, consumer preferences, a projected economic downturn, production concerns, and fluctuations in prices post-pandemic may give way to a turbulent growth. This growth may be influenced by an increasing prevalence of skin diseases such as psoriasis, eczema, vitiligo, and photoaging of skin as weather becomes more severe and diseases evolve.
Thank you to all of our clients who supported us through 2022. From the Oleeva and Bio Med Sciences teams, we’re fortunate for your business and excited for what the new year will bring for us. From helping our clients live happier, healthier lives with scar shapes, c-section scar bandages, and all of our other products in the Oleeva line, we’ll be there every step of the way.