Wednesday, 01 March 2023 10:00 AM
Company Update
NEWARK, DE / ACCESSWIRE / March 1, 2023 / According to newly released statistics from Future Market Insights (FMI), the burn care industry could generate US$ 1.80 billion in sales in 2023. By 2033, the market could also achieve a worth of US$ 4.05 billion. Furthermore, with the rising occurrence of burn injuries, market participants anticipated a CAGR of 8.4% over the forecast period.
The main reason propelling the expansion of this market is the rise in the frequency of burn injuries. In addition, the market expansion is also anticipated by increased demand for skin grafts and their alternatives.
Demand for minimally invasive procedures is increasing, and supportive government programs, including reimbursement policies, are anticipated to support this trend. Also, the rise in patient knowledge of burn care management and treatment supports the market growth throughout the forecast.
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Common people are now aware of the availability of alternatives for treating and managing burns at home and in healthcare facilities. This has been made possible by ongoing efforts by governmental and regulatory bodies and online information. During the forecast period, the market is likely to benefit from significant investments in healthcare infrastructure, particularly in emerging nations.
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 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.
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.
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.
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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.
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
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Table of Content
1. Executive Summary | Burn Care Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
Complete TOC with Report Preview: https://www.futuremarketinsights.com/reports/burn-care-market
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SOURCE: Future Market Insights, Inc.