The global burn care is market size is anticipated to around USD 3.0 billion by 2026, this market is anticipated to grow with 7.0% CAGR during the forecast time period. Growing occurrence of burn-related injuries is expected to boost the development. Increasing need for slightly invasive and cosmetic processes to restore appearance of patients suffering from burns is a main backing factor for the development.
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Furthermore, increasing concerns about aesthetic appearance among patients are among major factors backing to increase in need for burn care products. Also, benefits related with usage of biologics, for instance,cost efficiency, accelerated wound healing, and shorter hospital stay are anticipated to boost the industry in near future.
Increasing need for skin grafts is also a major development contributor to this industry. Skin grafts are majorly used on partial and full thickness burns and plays a significant role in the cure of burn injuries. Skin grafts agree excellent epithelialization owing to the occurrence of basement membrane and show larger control over scaffold composition. They also have benefits over other dressing materials, as they do not require frequent varying. Owing to the above-mentioned benefits, there is high need for skin grafts, which, in turn, is anticipated to bolster the development of the industry.
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Growing consciousness among people about availability of numerouscure options related to burn care management is expected to bolster industry development. Increasing disposable income in emerging economies and willingness to opt for new and progressive wound care products, particularly in case of patients affected with severe burns are boosting the need.
The global burn care market is segmented into product, depth of wound, cause, end-user and region.
On the basis of product the global burn care market is segmented into advanced dressing, biologics, traditional products, and others. The advanced dressing segment is further bifurcated into alginate dressing, collagen dressing, hydrogel dressing, hydrocolloid dressing, wound contact layers, film dressing, and foam dressing. On the basis of depth of woundthe global burn care market is segmented into minor, partial thickness, and full thickness. On the basis of the cause the global burn care market is segmented into thermal, electrical, radiation, chemical, and others. On the basis of the end-user the global burn care market is segmented into hospitals, clinics, and others. The hospital sub-segment is further bifurcated into inpatient and outpatient. On the basis of region the global burn care market is segmented into Latin America, Europe, Asia Pacific, North America, and Middle East & Africa.
North America captures the largest market share in the market in 2018 credited to the shift from traditional cure products to the progressive wound dressing products. This is owing to the increasing concern toward aesthetic appearance and need for minimally invasive cosmetic surgeries in this region.
Such as, statistics published by the American Society of Plastic Surgeons indicate that in 2017, approximately 17.5 million minimally invasive and surgical cosmetic processes were performed in U.S. The numeral is anticipated to surge over the forecast time frame. Thus, high need of cosmetic processes is considered to be one of the main contributing factors for the increasing need of biologics to treat wounds, which, in turn, is anticipated to boost the regional industry.
The occurrence of well-established healthcare facilities, favourable reimbursement policies, and progressive therapies are some of the main contributing factors for industry development in emerging economies for instance,China, India, and Brazil. Also, acceptance of technically progressive surgeries for instance reconstructive burn surgery is also expected to push regional market development.
Asia Pacific is expected to spectator lucrative CAGR in the forthcoming years. Developing economies for instance, China, and India have been experiencing strong economic development. Growing standard of living in these nations has encouraged the need for progressive products and procedures. Increasing disposable income is anticipated to trigger the regional need for cosmetic procedures in near future.
Market companies are concentrating on implementing new strategies for instance regional expansion, partnerships, mergers and acquisitions, new product launches, and distribution agreements to surge their revenue share. And also, growing R&D investments paired with technical advancements to commercialize highly efficient products are expected to offer huge growth opportunities for industry participants. Some of the main businesses present in the burn care market are Mölnlycke Health Care AB, Johnson & Johnson, Smith & Nephew, ConvaTec Inc., and Acelity L.P. Inc.Significant strategic initiatives undertaken by global businesses include partnerships, new product launch, acquisitions.
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