Scar treatment has been a fast-developing industry with developing technology and focus on physical appearance in the last few years, into 2022, and beyond!
Scar treatment methods have evolved over the years and it’s proven very profitable to manufacturers, with profits expected to reach 15 billion dollars by the end of 2022. From acne scars to burns and cuts, advances in the biomedical field mean that surgery isn’t always the defining treatment for scars, making treatment for self-esteem and mobility hindering blemishes and marks more accessible to the general public. Companies like Oleeva by Bio Med Sciences have developed gels, silicone sheets, bandages, and other topical devices to lessen the need for excisions, laser treatments, and surgeries for skin grafts.
North America is expected to lead the world in scar treatment, with an increase from $2.8 million in 2015 to $2.6 million in 2022, cowering a compound annual growth rate (CAGR) of 3.8%. Previously, most customers of hypertrophic scar treatments have been hospitals and clinics, however, companies like Oleeva are making it easier to make scar treatment bandages more accessible to individual clients in need of scar relief. Presently, any individual can purchase scar shape patches that cover a large category of mainstream surgeries from breast to pregnancy and other surgeries from cosmetic to emergency procedures.
Despite the high demand for chemicals and materials during the COVID pandemic leading to shortages in raw materials and high prices, companies continued to add capacity to cater to the short-term COVID demand while providing products to customers of emergency surgery that were not rescheduled due to hospital capacity challenges. While research identifies that previous forecasts have to be adjusted due to pandemic conditions, there is extensive research into identifying the key challenges of the period and understanding the new market landscape for a full recovery and a strong future.