The stretch marks treatment market is expected to witness healthy CAGR over the forecast period
The growth of the market is majorly due to the rising burden of obesity across the globe. The growing number of pregnancies because of which there is a rising concern of stretch marks in women.
As per the World Health Organization (WHO), since the year 1975, obesity has tripled worldwide. During the year 2016-2017, more than 1.9 billion adults were overweight among which over 650 million were obese. The WHO has also stated that most of the world’s population lives in countries where overweight and obesity kills more people than underweight. The above statements indicate that there is a high burden of obesity in the world. Which is augmenting the rise in the number of people having stretch marks. This is ultimately contributing to the growth of the market studied.
Furthermore, there is a high number of pregnancies seen in the developed as well as developing countries. It also augments the demand for stretch mark treatment products. For instance, in the United States, there were 3,855,500 births, as per the data published by the Center for Disease Control and Prevention.
Key Market Trends
Topical Treatment segment is expected to Dominate the Market
The stretch mark treatment market is dominated by topical treatment. This is majorly attributed to the high cost of other treatments such as laser and Microdermabrasion. Another factor propelling the growth of this segment is the availability and ease of use of these products. Most of the females take treatment for their stretch marks at home only for which they prefer creams, lotions, or oils. Also, the price of these products is comparatively less which makes it more affordable for low to middle-income people.
North America Holds the Largest Share of the Market
North America is expected to hold the largest share of the market studied. It is primarily due to the better treatment options and the large target population in this region. Companies are also focusing more on this developed economy as there is a large demand for stretch mark treatment in the United States. As per the recent Behavioral Risk Factor Surveillance System (BRFSS) data, the adult obesity rate has exceeded 35% in most of the states from the USA. This is augmenting the demand for stretch mark treatment in these states as obesity is the prime factor for the developing stretch marks.
The market for stretch marks treatment is moderately competitive. There are several local players that are holding the large chunk of market share. However, the market also witnesses the presence of glocal players such as Merz Pharma and Cynosure, Inc. With the rising demand for the stretch mark treatment, it is believed that more companies will be penetrating this market and hold a considerable share in the market.