Global Burn Care Market Size & CAGR (2021 to 2026)
As per the report published by MarketDataForecast, during the forecast period, the size of the global burn care market is estimated to be growing at a CAGR of 6.89% and worth USD 2.98 billion by 2026 from USD 2.14 billion in 2021.
Impact of COVID-19 on the global burn care market:
SARS-CO V2, the new coronavirus causing the COVID-19 pandemic, is spreading fast around the world. Burn centers preparing for the pandemic must balance helping with the pandemic response while also providing safe and ethical burn care. Each center is situated at a different location on the pandemic curve and serves various patient populations within their healthcare systems. However, because of the risk of viral transmission, our primary goal should be to offer safe care to our patients while also ensuring the safety of the whole burn care team. Burn patients are frequently incapacitated and require an extended hospital stay and many operational procedures, putting them and everyone involved in their care in danger of coronavirus infection and transmission.
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KEY DRIVING FACTORS:
Y-O-Y growth in the wounds incidence & growing awareness among the public are majorly boosting the global burn care market growth.
The demand is expected to be fuelled by people becoming more aware of the various treatment options available for burn care management. Market growth is expected to be boosted by rising healthcare expenditure in developing nations and a preference for improved wound care products. Another key reason driving expansion is the government’s national burn injury prevention and management strategy. The key driver of the global burn care market is the rising number of burn patients. The market also benefits from people’s increasing willingness to pay on advanced care, particularly in the case of burn sufferers. The worldwide burn care industry will rise as governments take steps to raise public awareness about burn care.
RESTRAINING FACTORS:
High costs associated is one of the significant factors hampering the global burn care market’s growth rate.
The market’s growth is being stifled by reasons such as the high cost of burn treatment. In addition, the Burn Care Market is restrained by a lack of immediate emergency care in acute burns to avoid complications or even death and infectious issues in grafting treatment.
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KEY MARKET INSIGHTS:
- Based on the product, in 2020, the advanced dressing segment dominated the global burn care market, of total sales. The vast product range and diverse application in wound treatment are responsible for this rise. Collagen, alginate, hydrocolloid, hydrogel dressings, foam, film dressings, and other advanced dressing materials are examples of advanced wound dressings. In addition, the advent of novel products such as ConvaTec’s FoamLite foam dressing, which can be used for a variety of low to heavy exuding wounds, is driving the growth of this segment.
- Based on the extent of damage, in 2020, the minor burn sector dominated the global burn care market. Over the forecast period, the segment is expected to increase at a steady pace. Traditional burn care materials such as gauze, tapes, and bandages are used to treat small burns. Minor burns are rarely treated with advanced dressings.
- Based on the End-User, due to the growing incidence of burn injuries and hospitalizations each year, the hospital sector dominated the market and accounted for the most significant revenue share in 2020. Burn injuries are becoming more common, which is projected to drive market growth.
- Based on the region, due to the changing preferences from traditional products to advanced burn care treatments and products, and favorable government policies for reimbursement in nations in the area, North America dominated the global Burn Care Market in revenue. This expansion can be linked to increased research and development projects and government assistance for the healthcare sector’s advancement. In addition, the market in this region is driven by increased awareness about health and the availability of novel treatment options, which are significant factors in the growth of the global burn care market.
- To strengthen their position in the market, key companies are pursuing various strategies such as mergers and acquisitions, product launches, alliances, and regional expansion. ConvaTec Group Plc, BSN Medical Gmbh, Integra Lifesciences (Derma Sciences), B Braun Melsungen AG, Investor AB, Medline Industries, Inc., Medtronic Plc., and Smith & Nephew Plc. are among the leading firms.
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RECENT MARKET DEVELOPMENTS:
- Acelity L.P., Inc. acquired Crawford Healthcare in June 2018 to broaden its wound care product range. Such activities are expected to improve the company’s market share and customer base.
- The American Burn Association has declared National Burn Awareness Week, with topics ranging from electrical safety to zapping. From February 7th through February 13th, 2021, this project was active.
- Safeguard Medical, a well-known manufacturer of life-saving equipment, announced the acquisition of Water-Jel Technologies on May 7th, 2020. The entire globe of Jel’s is in New Jersey. They are the leading manufacturer of burn treatment products in the world.
- Derma Sciences purchased MEDIHONEY from Comvita Limited in New Zealand in January 2017 to expand its Advanced Wound Care product range, resulting in the availability of new products.
SEGMENTS COVERED IN THIS REPORT:
By Product:
- Advanced Dressings
- Biologics
- Traditional
By Extent of Damage:
- Minor
- Superficial Partial Thickness
- Deep Partial-Thickness Burn
By End-user:
- Hospitals
- Clinics
- Homecare
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
BROWSE REGIONAL REPORTS:
- North America Burn Care Market
- Europe Burn Care Market
- APAC Burn Care Market
- Latin America Burn Care Market
- MEA Burn Care Market
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