The North America Burn Care Market was worth $ 0.63 Billion in 2016 and estimated to reach $ 0.816 Billion by the end of 2021 with a growing potential of 6.5%.
Most companies focuses on expanding its existence in the burn care product market by investing strategically in research and development activities, which enables them to launch new products in the market to have a competitive advantage. The main strategies followed by most companies in the burn care market are new product launches, Collaborations, acquisitions, and expansions. The strategy of new product launches accounted for the largest share of the overall growth strategies mapped from 2016 to 2021.
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The Major factors that influence the growth of the Market is rise in the incidence of burns i.e. over 1 million burn injuries were noticed annually in U.S, growing Healthcare expenditure results in increasing usage of skin grafts and advanced dressings, favourable government initiatives, increasing awareness in treatment options owing to increasing number emergency burn clinics. However, high cost of burn care treatments and developing of new products are the major factors that are challenging the growth of the market.
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The North America specific Burn Care Market is majorly categorized into Products (Advanced dressings, Biologics, Traditional). Among these advanced dressings is predicted to have the largest share in the market while the biologics is predicted to witness the highest CAGR during the forecast period. Increasing demand for Biologics in U.S are driving the growth in North America. Extent of damage (Minor, Partial Thickness, deep thickness burn). The partial thickness burns is expected to witness the highest share of market due to increasing usage of biologics in U.S. End users (Hospitals, Clinics and Home care). Among these Hospitals usage is projected to witness highest CAGR over the forecast period, owing to increasing awareness in treatment options. The North America burn market is analyzed under various regions namely U.S, Canada.
Some of the major companies influencing the burn care market in North America, by their products and services include Smith & Nephew plc (U.K.), Acelity L.P (U.S.), 3M Company (U.S.), Molnlycke Health Care (Sweden), Derma Sciences Inc.(U.S.), Medtronic (Ireland), Coloplast A/S (Denmark), Convatec Inc (U.K.).
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