The global burn care market size is estimated to be worth USD 2.98 Billion by 2027 from USD 2.14 billion in 2022, growing at a CAGR of 6.89% during the forecast period.
Burns is a global public health problem, accounting for an estimated 265 000 deaths annually. Most of these deaths occur in low- and middle-income countries, and almost half occur in the WHO South-East Asia Region. The burn severity depends on the size and injury depth. Burn care includes degrees such as first, second, and third-degree, and the management depends on the degree.
MARKET DRIVERS:
Rising incidence of burns, growing expenditure in Healthcare, favorable government initiatives, expanding awareness regarding treatment options are majorly driving the global burn care market growth.
Burns and emergency canters are significantly increasing throughout the globe. According to the US FDA, nearly 40,000 people are hospitalizing each year due to partial burns. Additionally, the growing demand for skin grafts and their substitutes, full accessibility of traditional burn care products, and the acquisition of advanced burn care products further fuel the burn care market.
In many developed countries, burn death rates have been declining. However, the rate of child deaths from burns is currently over seven times higher in developing and emerging countries than in developed countries. Burn injuries continue to cause sickness and mortality globally. Despite collaborations and preventative measures, there are still many cases reported in many countries. The treatment of these patients is often protracted and requires extensive resources. The adequate revival of these patients, coupled with scrupulous wound care, can significantly impact their outcome.
MARKET RESTRAINTS:
However, increasing the cost of burn care treatments and products are the major factors challenging the market's growth. In addition, poor government strategies for the effective management of burn care are another significant factor in hampering the market growth.
Impact of COVID-19 on the global burn care market:
The coronavirus pandemic has negatively impacted the burn care market in the recent past and created a slight decline in the market's growth rate. In the first half of 2020, all the treatment procedures other than COVID-19 were postponed or canceled to curb the spread of the transmission of the disease. The supply chain and manufacturing units had difficulties during this period, which is further enforced a negative impact on this market. However, the global burn care market has started recovering from the negative impact of COVID-19 and is expected to reach its normal position by the end of 2021.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 to 2027 |
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Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Segments Analysed |
By Product, Extent of damage, and Region |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
This research report on the global burn care market has been segmented and sub-segmented based on the product, extent of damage, and region.
Burn Care Market - By Product:
The advanced dressings segment is projected to account for the largest share in the market based on the product. At the same time, biologics are expected to witness the highest CAGR growth during the forecast period.
The Biologics segment is anticipated to perform well during the forecast period. New product launches and comprehensive R&D activities in this area are majorly fueling the segment.
Burn Care Market - By Extent of damage:
Based on the extent of damage, the minor segment is estimated to account for the largest share in the global market during the forecast period. Traditional products such as gauze, tapes, and bandages are sufficient for minor burns, which is the primary cause of this segment's domination.
Burn Care Market - By End-Users:
Based on end-users, the hospital segment accounts for the largest share in the market with the increasing incidence of burn injuries and advancements in burn care products and treatments.
The clinic's segment is expected to have a quick growth rate over the forecast period.
Burn Care Market - By Region:
Regionally, the global burn care market was dominated by North America, followed by Europe, Asia-Pacific in 2019. Increasing demand for Biologics in the U.S is driving the growth in North America.
The burn care market in North America accounted for the largest market share globally in 2019. Our analysis has noticed that North America will be continuing its dominance in the global burn care market throughout the forecast period. The growing occurrence rate of burns and high stipulation for skin grafts and leading companies are majorly attributing the market growth in this region. In addition, the U.S is likely to have the highest CAGR during the forecast period due to the increasing utilization of biologics in this country of this region.
The burn care market in Europe, followed by North America, is leading the global market and is expected to showcase prominent growth during the forecast period. In Europe, favorable government initiatives, awareness over treatment options, the growing occurrence rate of burns, and the increasing amount spent on healthcare favor the market. Germany is expected to lead the European market. In contrast, the UK is estimated to grow at the fastest growth rate due to the huge patient population being treated in outpatient clinics and depending on the severity of the patients' burns.
At the same time, the burn care market in Asia-Pacific is showcasing better CAGR than North America and Europe during the forecast period. Key players support the market in this region by increasing burn injuries and rising R&D for the launch of new products and devices. Japan is expected to have the highest share of the burn care market in this region.
The burn care market in Latin America is likely to have a steady growth rate during the forecast period. Growing accidental events in home surroundings, the rising incidence rate of burns boosts the Asia Pacific market. However, the lack of knowledge in children under 15 is one of the key factors restraining the market. Based on the region, Brazil is predicted to have the highest share in the burn care market and is estimated to have a high CAGR of growth.
The Burn care market in the Middle East & Africa is estimated to project sluggish growth during the forecast period. Favorable government policies and increasing healthcare expenditure are majorly propelling the burn care market in this region. Moreover, in sub-Saharan Africa, burns are widespread, considered one of the primary healthcare problems. Therefore, in Africa, the growth is due to government spending’s on burn care products and treatments in this region.
KEY MARKET PARTICIPANTS:
Some of the notable companies leading the global burn care market profiled in the report are 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) and Convatec Inc (U.K.).
RECENT MARKET DEVELOPMENTS:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product Type
5.1.1 Advanced
5.1.2 Biologics
5.1.3 Traditional
5.2 By Extent of damage
5.2.1 Minor
5.2.2 Superficial Partial Thickness Burn
5.2.3 Deep Thickness Burn
5.3 by End Users
5.3.1 Hospitals
5.3.2 Clinics
5.3.3 Home care
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Smith & Nephew plc
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Acelity L.P
8.3 3M Company
8.4 Molynlycke Health Care
8.5 Dema Sciences Inc.
8.6 Medtronic
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
11. Appendix
a) List of Tables
b) List of Figures
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