Global Stretch Marks Treatment Market Highlights Over 2022 - 2031
The global stretch marks treatment market is estimated to garner a large amount of revenue by growing at a CAGR of ~7% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed primarily to the growing consumption of calorie-laden fast food by a large population, which is one of the major causes of rising prevalence of stretch markets among people. According to the World Health Organization, in 2019, 38.2 million children under the age of 5 years were overweight or obese. Almost half of the children under 5 who were overweight that year lived in Asia. Along with these, changing lifestyle of people around the world, and upsurge in disposable income worldwide are also expected to drive market growth in the forthcoming years. Furthermore, increasing cosmetic concerns among pregnant women, and escalating number of online suppliers for the treatment are projected to offer ample growth opportunities to the market in the near future.
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The market is segmented by type into topical products, laser, microdermabrasion, and others, out of which, the topical products segment is anticipated to hold the largest share in the global stretch marks treatment market. This can be accounted to the high usage of corticosteroid medications for treating stretch marks caused due to pale skin, pregnancy and sudden weight gain or loss. Apart from these, rising efforts by manufacturers for the sale of stretch marks creams is also predicted to boost the growth of the market segment in the future. Additionally, the laser segment is assessed to observe robust growth during the forecast period owing to the high effectiveness of this technique in treating stretch marks as compared to other methods as it enhances skin tone and improves texture.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Stretch Marks Treatment Market Regional Synopsis
Regionally, the global stretch marks treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rapidly changing lifestyles of consumers, and emergence of online shopping portals for medical products in the region. Moreover, the market in North America is expected to occupy the largest share by the end of 2030, which can be credited to the high healthcare spending, and availability of advanced treatment options in the region. As per the Centers for Medicare and Medicaid Services, the healthcare spending in the U.S. grew 9.7 percent in 2020, reaching a value of USD 4.1 trillion or USD 12,530 per person. In addition, rising consciousness for cosmetic procedures and fashion is also anticipated to propel the market growth in the region in the coming years.
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The global stretch marks treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global stretch marks treatment market includes the following segments:
By End User
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing consumption of calorie-laden fast food by a large population, and changing lifestyle of people around the world.
The market is anticipated to attain a CAGR of ~7% over the forecast period, i.e., 2022-2031.
Asia Pacific will provide more business opportunities for market growth owing to the rapidly changing lifestyles of consumers, and emergence of shopping portals for medicines in the region.
The major players in the market are Helix BioMedix Inc., Cynosure, Inc., Merz North America, Inc, Syneron Medical Ltd, E.T. Browne Drug Co., Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, end user, and by region.
The topical products segment is anticipated to hold largest market size and is estimated grow at a notable CAGR over the forecast period and display significant growth opportunities.
High cost of stretch marks treatment is estimated to hamper the market growth.
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