Burn Care Market - Forecast (2023 - 2028)
Burn Care Market size is $2.6Bn in 2019, growing at a CAGR of 7.3% during the forecast period 2020-2025. Burn is a kind of injury to the tissue or skin, which is caused owing to radiation, heat, chemicals, and electricity. Fire and hot liquids cause most of the burn cases or smoking, alcoholism, violence among people which also cause burn cases. Burn treatment includes relieving pain, preventing infection and maintaining body fluids, electrolytes and calorie intake during the healing process. Treatment for chemical and electrical burns differs from treatment of thermal burns, ultrasound mist therapy is a treatment for chronic wounds. The burn care products are used to prevent complications such as prevent infection, control pain (morphine), reduce scarring risk, remove dead tissue, and regain function. Bacitracin and silver sulfadiazine is a medicine used to prevent skin infections and bacteria formed on the open burn wound.
Key Takeaways
Increasing awareness amongst people for early treatment is set to propel the growth of the market.
Rising healthcare expenditure is the driving factors for the growth of Burn Care market.
Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025
By Source - Segment Analysis
In 2019, Chemical Burns segment dominated the Burn Care Market in terms of revenue is estimated to grow at a CAGR of 6.4%. A Chemical burn are also known as caustic burns occur in the home, at work, or at school, an accident or an assault and chemical factories. It is formed when skin or eyes meet an irritant, such as an acid or a base. Chemical burn symptoms include itching, bleaching, or darkening of skin, burning sensations, trouble breathing, coughing blood and tissue necrosis. Silverex Ionic Gel is used for minor chemical burns abetting towards the market’s growth.
Geography - Segment Analysis
In 2019, the North America region dominated Burn Care Market in terms of revenue with a market share of 36%% owing towards changing preferences from traditional products to advanced burn care treatments and products and favorable government policies for reimbursement in countries in the region in the region. This growth can be attributed towards the increasing research & development initiatives and government support for the improvement of the healthcare sector. According to the American Burn Association, in US, over 60% of the acute hospitalizations related to burn injury which further propels the growth of the market. The increasing awareness about the health and availability of new treatment methods drives the market in this region is key factors in the growth of the Burn Care market. Asia Pacific is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Burn Care Market
Increasing in The Prevalence Of Cancer
Increasing awareness level among people regarding the availability of various treatment options for burn care management is anticipated to impel the demand. Rising healthcare expenditure in developing economies coupled with inclination towards opting advanced wound care products is anticipated to boost market growth. National program on prevention and management of burn injuries by Government is the other major factor driving growth.
Challenges – Burn Care Market
Cost and Time Associated with Development
High cost is associated with the treatment of advanced burn care wounds is hampering the market’s growth. Lack of immediate emergency care in case of serious burns to avoid complications or even death and infectious complications in grafting treatment is restraining factors for the Burn Care Market.
Burn Care Industry Outlook
Product Launches was the key strategy of the players in the Burn Care Industry. Burn Care top 10 companies include 3M Company, B Braun Melsungen AG, Coloplast A/S, ConvaTec Group Plc, BSN Medical Gmbh, Integra Lifesciences (Derma Sciences), Investor AB, Medline Industries, Inc., Medtronic Plc. and Smith & Nephew Plc.
Acquisitions/Product Launches
In October 2017, Integra Lifesciences acquired Johnson & Johnson Codman Neurosurgery business and wound care products for approximately $1.045 billion less customary adjustments, enhancing Integra's position as a leading global provider of products.
Key Takeaways
Increasing awareness amongst people for early treatment is set to propel the growth of the market.
Rising healthcare expenditure is the driving factors for the growth of Burn Care market.
Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025
By Source - Segment Analysis
In 2019, Chemical Burns segment dominated the Burn Care Market in terms of revenue is estimated to grow at a CAGR of 6.4%. A Chemical burn are also known as caustic burns occur in the home, at work, or at school, an accident or an assault and chemical factories. It is formed when skin or eyes meet an irritant, such as an acid or a base. Chemical burn symptoms include itching, bleaching, or darkening of skin, burning sensations, trouble breathing, coughing blood and tissue necrosis. Silverex Ionic Gel is used for minor chemical burns abetting towards the market’s growth.
Geography - Segment Analysis
In 2019, the North America region dominated Burn Care Market in terms of revenue with a market share of 36%% owing towards changing preferences from traditional products to advanced burn care treatments and products and favorable government policies for reimbursement in countries in the region in the region. This growth can be attributed towards the increasing research & development initiatives and government support for the improvement of the healthcare sector. According to the American Burn Association, in US, over 60% of the acute hospitalizations related to burn injury which further propels the growth of the market. The increasing awareness about the health and availability of new treatment methods drives the market in this region is key factors in the growth of the Burn Care market. Asia Pacific is estimated to record the fastest growth rate during the forecast period 2020-2025.
Drivers – Burn Care Market
Increasing in The Prevalence Of Cancer
Increasing awareness level among people regarding the availability of various treatment options for burn care management is anticipated to impel the demand. Rising healthcare expenditure in developing economies coupled with inclination towards opting advanced wound care products is anticipated to boost market growth. National program on prevention and management of burn injuries by Government is the other major factor driving growth.
Challenges – Burn Care Market
Cost and Time Associated with Development
High cost is associated with the treatment of advanced burn care wounds is hampering the market’s growth. Lack of immediate emergency care in case of serious burns to avoid complications or even death and infectious complications in grafting treatment is restraining factors for the Burn Care Market.
Burn Care Industry Outlook
Product Launches was the key strategy of the players in the Burn Care Industry. Burn Care top 10 companies include 3M Company, B Braun Melsungen AG, Coloplast A/S, ConvaTec Group Plc, BSN Medical Gmbh, Integra Lifesciences (Derma Sciences), Investor AB, Medline Industries, Inc., Medtronic Plc. and Smith & Nephew Plc.
Acquisitions/Product Launches
In October 2017, Integra Lifesciences acquired Johnson & Johnson Codman Neurosurgery business and wound care products for approximately $1.045 billion less customary adjustments, enhancing Integra's position as a leading global provider of products.
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