Burn is a type of injury to skin or other tissues cause by extreme heat, cold, electricity, chemicals, radiation, or friction. In most cases, burns are caused due to hot liquid, solid or fire. The rates of burn injuries is similar in both males and females though the underlying causes are different.
Global Burn care market has witnessed various technological advancements and emerged as a standard solution for the treatment in all degrees of burns. Traditional methods of burn care management new advanced products have been introduced that are more effective and offer faster healing. Burn treatment includes intervention therapies and use of products such as conventional and advanced care dressings. Unhealed burns do not only diminish quality of life but also increase the risk of infections and complications. Therefore, burn care is an important part of healing process. Moreover, some serious burns may require immediate medical care to prevent further complications and death of patient.
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The global burn care market size was valued at US$ 2,219.0 million in 2018, and is expected to witness a CAGR of 6.1% over the forecast period (2019–2026).
Market Dynamics- Drivers
Increasing burn injuries around the world is expected to drive growth of the global burn care market during the forecast period. For instance, according to the World Health Organization (WHO), March 2018, it is estimated that 180,000 deaths are caused by burns, annually, worldwide. Moreover, a vast majority of these deaths occur in low- and middle-income countries.
Furthermore, growing awareness related to burn care is expected to boost the global burn care market growth in the near future. For instance, in February 2019, the American Burn Association organized National Burn Awareness Week in the first full week of the month, which served as an opportunity for burn care organizations, burn survivor support groups, public safety professionals, and injury prevention activists to increase awareness among the population about the frequency and causes of burn injuries in the U.S.
Global Burn Care Market- Restraints
The high cost associated with burn care treatment is expected to hamper the burn care market growth. Majorly, the second and third degree burn cases require prolonged hospital stays, which leads to high costs. For instance, according to the American Burn Association, 2017, in the U.S., for a survivor with 40-60% body burn, the average duration of hospital stay is 54 days and the average cost of the stay is US$ 780,000 per patient, annually. With more severe injuries, these costs can be even higher.
Global Burn Care Market- Regional Insights
On the basis of region, the global burn care market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Among regions, North America is expected to hold dominant position in the global burn care market during the forecast period. This is owing to high presence of key market players in the U.S. such as Acelity LP, 3M, Coloplast A/S, and Integra LifeSciences Corporation.
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Asia Pacific is expected to register the fastest growth in the global burn care market, during the forecast period. This growth is attributed to increasing proactive government initiatives for burn treatment. For instance, in 2016, Government of India, introduced National Program for Prevention, Management, and Rehabilitation of Burn Injuries (NPPMRBI) in India. This program was implemented through state government medical colleges and district hospitals with the objective to reduce the incidence, morbidity, mortality, and disability due to burn injuries.
Global Burn Care Market- Competitive Landscape
Key players operating in the global burn care market include, Smith & Nephew Plc. Molnlycke, ConvaTec Inc., Integra LifeSciences Corporation, 3M, Coloplast A/S, Cardinal Health, Inc., DeRoyal Industries, Inc., Acelity LP, and Svenska Cellulosa Aktiebolaget (SCA).
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