The global burn care market size is expected to reach USD 4.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.1% from 2022 to 2030. Increasing incidences of burn injuries are anticipated to fuel the demand for cost-effective treatment over the forecast period. As per the WHO, 96.0% of fatal fire-related burns occur in low to middle-income countries. According to the data published by the WHO, on average, 265,000 deaths are caused by burns every year. The majority of these deaths occur in low to middle-income countries and half of them occur in South East Asia. Moreover, around 1,000,000 people in India are moderately or severely burnt and around 173,000 children in Bangladesh are burnt each year.
Burn Care Market Report Highlights
- The moist wound dressing segment dominated the market in 2021 due to the rising technological advancements and increasing demand for advanced treatment options
- The partial thickness burn segment is anticipated to witness the fastest growth over the forecast period. The growth of the segment is attributable to the favorable reimbursement policies in the developed countries
- The hospitals segment accounted for the largest revenue share of the market in 2021 owing to the increasing incidence of burn injuries and hospitalizations each year
- The thermal burns segment held the largest revenue share of the market in 2021 owing to a high incidence of fire-related burn injuries
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It also reported that in the U.S., approximately 4,500 burn victims die annually and 10,000 die due to burn-related infections. Owing to this substantial increase in the number of burn incidences, the patient population for burn care and treatment has increased. This, in turn, is expected to drive market growth over the forecast period. Furthermore, due to the rising incidences of burns, the demand for treatment options is increasing and as a result, the overall healthcare expenditure on burn care is increasing. Treatment options for burn care include advanced dressings, biologics, traditional burn care products, and others. The foam dressings developed from semipermeable polyurethane are waterproof and can be used on heavily exuding wounds. As a result of which they are preferred over normal dressings which are not waterproof and need to be changed regularly.
Burn Care Market Insights By Demographics
North America dominated the burn care market and accounted for the largest revenue share of around 52.1%, owing to the increasing incidence of burns. the presence of key market players in this region, focusing on strategic initiatives such as the launch of new products and mergers and acquisitions, is expected to create lucrative growth opportunities in the region. In Asia Pacific, the market is anticipated to witness the fastest CAGR over the forecast period. According to the WHO, the incidence of burn injuries that require immediate medical attention is approximately 20 times higher in the Western Pacific Region in comparison with the Americas. In addition, increasing R&D activities by key market players for the introduction of innovative products is expected to fuel the market growth over the forecast period.
Industry Share Analysis By Major Players
Key players are adopting various strategies such as mergers and acquisitions, product launches, partnerships, and geographical expansions to strengthen their foothold in the market. Some of the prominent players in the burn care market include:
- 3M
- Hollister Incorporated
- Cardinal Health
- Integra LifeSciences Corporation
- Coloplast Corp.
- DeRoyal Industries, Inc.
- Smith & Nephew
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Burn Care Market Segmentation
Grand View Research has segmented the global burn care market on the basis of the product, depth of wound, cause, end-use, and region:
- Burn Care Product Outlook (Revenue, USD Million, 2018 – 2030)
- Burn Care Depth of Wound Outlook (Revenue, USD Million, 2018 – 2030)
- Burn Care Cause Outlook (Revenue, USD Million, 2018 – 2030)
- Burn Care End-use Outlook (Revenue, USD Million, 2018 – 2030)
- Burn Care Regional Outlook (Revenue, USD Million, 2018 – 2030)
- List of Key Players of Burn Care Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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