In its latest report, Future Market Insights (FMI) projects a revenue of US$ 1.80 billion for the burn care market in 2023. The market is poised to potentially exceed a valuation of US$ 4.05 billion by 2033. With the rising prevalence of burn injuries, market players can anticipate a CAGR of 8.4% during the forecast period.
The demand for skin grafts and other surgeries has surged amid an increasing consumer focus on aesthetic appearance. In addition, the availability of a wide range of biologics for treating burn wounds that offer advantages is projected to accelerate market growth. The benefits of treatments include faster wound healing, reduced costs, and shorter hospital stays.
A notable trend in the burn care market is the rising demand for user-friendly products that individuals can self-administer. Various over-the-counter solutions, such as burn healing gels and creams, have emerged to address minor burn injuries effectively within the comfort of one’s home.
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Such alternatives to treating and managing burns are now well known among common people. This is the effect of government and regulatory bodies, as well as online information efforts. In particular, during the forecast period major investments in healthcare infrastructure will be made in emerging countries, which should provide a boost to the market.
Technological developments in burn treatment products are likely to create attractive market prospects. In addition, the widespread availability of conventional burn care products and people’s growing willingness to spend more money on advanced burn care solutions could accelerate the burn care market growth in the coming years.
The principal factor fueling this market’s expansion is the increase in burn accidents. In addition, the market expansion is also expected with increased need for skin grafts and their substitutes.
Given the substantial incidence of burn injuries, growing public awareness of treatment options, and the existence of a strong health service, the North American region is predicted to account for a sizeable portion of the market. The United States is anticipated to have a significant market share in the North American region due to the country’s greater accessibility to burn care products, the new product launches, and the overall awareness of wound management.
Key Takeaways
- The market in the United States accounted for 81.1% share in North America.
- In 2022, Japan held a 33.6% market share in Asia Pacific.
- India seized 34.7% of the Asia Pacific gemstone market.
- China held 45.0% of the market in Asia Pacific
- Germany accounted for 25.8% of the Europe gemstone market in 2022.
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Competitive Landscape
Key players in the burn care market are
- Smith & Nephew,
- Coloplast A/S,
- Mölnlycke Health Care,
- Areza Medical,
- Safe n Simple, LLC,
- Acelity LP,
- De Royal Industries, Inc.,
- Cardinal Health, Inc.,
- Medline Industries,
- Derma Sciences Inc. and
- others.
These market players are creating advanced and innovative solutions to enhance patient outcomes. They are investing in research and development to provide enhanced skin replacements, topical treatments, and wound dressings that hasten healing and lessen pain. In order to guarantee that their products are being utilized properly and to educate healthcare professionals on standard practices for burn treatment, they are also closely collaborating with them.
Recent Developments
- In January 2023, Convatec made accessible their line of advanced foam dressings known as ConvaFoam™ in the United States. This development aimed to meet the demands of healthcare professionals and their patients.
- In January 2021, Smith+Nephew and Movemedical successfully launched their new field sales operations and inventory automation system in the United States.
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Global Burn Care Market by Category
By Product Type:
- Burn Wound Dressings
- Topical Burn Medications
By End Use:
- Household
- Hospitals
- Clinics
- Others
By Severity:
- First Degree Burns
- Second Degree Burns
- Third Degree Burns
By Sales Channel:
- Online Channel
- Offline Channel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
Author
Sneha Varghese (Senior Consultant, Consumer Products & Goods) has 6+ years of experience in the market research and consulting industry. She has worked on 200+ research assignments pertaining to Consumer Retail Goods.
Her work is primarily focused on facilitating strategic decisions, planning and managing cross-functional business operations, technology projects, and driving successful implementations. She has helped create insightful, relevant analysis of Food & Beverage market reports and studies that include consumer market, retail, and manufacturer research perspective. She has also been involved in several bulletins in food magazines and journals.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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