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The rising cases of burns, surging number of road accidents, increasing cases of skin diseases, growing aging population, rising healthcare spending, and growing disposable income are expected to propel the growth of the topical scar treatment market in China, South Korea, Taiwan, Hong Kong, and Southeast Asia at a CAGR of 7.7% during the forecast period (2021u20132030). According to P&S Intelligence, the market size is expected to reach $1,451.1 million by 2030 from $701.6 million in 2020. Moreover, the market is observing a rising number of product launches.
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Rising Cases of Burn Injuries Boosting Topical Scar Treatment Market © P&S Intelligence. All rights reserved Page 1
The rising cases of burns, surging number of road accidents, increasing cases of skin diseases, growing aging population, rising healthcare spending, and growing disposable income are expected to propel the growth of the topical scar treatment market in China, South Korea, Taiwan, Hong Kong, and Southeast Asia at a CAGR of 7.7% during the forecast period (2021–2030). According to P&S Intelligence, the market size is expected to reach $1,451.1 million by 2030 from $701.6 million in 2020. Moreover, the market is observing a rising number of product launches. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market-analysis/topical- scar-treatment-market One of the major factors boosting the demand for topical scar treatment products is the surging cases of burn injuries. Scars often occur after skin damage during the healing of burns, which lead to discolored and thick skin. As per an article published in April 2019 in the journal Experimental and Therapeutic Science, over 10 million people in China suffer from burn injuries annually. Furthermore, according to an article published the same year in the journal Annals of Burns and Fire Disasters, in Vietnam, the burn incidence in elderly people was 4.2%. Make an Enquiry Before Purchase: https://www.psmarketresearch.com/market-analysis/topical-scar- treatment-market/report-sample The product type segment of the topical scar treatment market is classified into cream, oil, gel, and gel sheet. Among these, the cream category accounted for the largest market share in 2020, and it is also projected to dominate the market in the coming years. This is primarily ascribed to the fact that scar treatment creams have the ability to smoothen, flatten, reduce, and fade the appearance of old and new scars and stop the development of new scars. Geographically, the Chinese topical scar treatment market accounted for the largest share in 2020, and it is also projected to record the highest CAGR during the forecast period. This will be due to the increasing requirement for technologically advanced scar treatment products among the geriatric population, which is rising, in the country. Moreover, the surging disposable income, rising healthcare spending, and increasing prevalence of skin diseases are also driving the market growth in China. Thus, the surging incidence of burn injuries and the increasing healthcare spending are expected to drive the demand for topical scar treatment products in the coming years. © P&S Intelligence. All rights reserved Page 2
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