Burn Care Market Foreseen Projected to Exceed US$ 3,539.5 Million Threshold by 2026 | CAGR: 6.1%: Coherent Market Insights
Impact Analysis of Covid-19
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The global burn care market, which was assessed at US$ 2,219 million in 2018, is now projected to expand significantly over the forecast period (2019-2026), with an impressive 6.1% CAGR.
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Increasing product approvals and technological advancements in the treatments of moderate-to-severe burns are likely to foster the global burn care market growth over the projected period. In September 2018, Avita Medical Americas LLC received the Premarket Approval (PMA) application by the U.S. Food and Drug Administration (FDA) for its RECELL Autologous Cell Harvesting Device (RECELL System) intended for the treatment of severe thermal burns of patients, aged 18 years and above. Other innovative techniques, such as the electrospinning technology, are also being widely adopted across the globe. For instance, the portable electrospinning technology enhances the inherent characteristics of electrospun nanofibers, mimicking the structure of the body tissue. It offers an excellent medium for tissue integration and regeneration, while significantly facilitating the healing process.
Key Takeaways of the Global Burn Care Market:
- Among the various product types, the advanced burn care segment is expected to acquire a major revenue share in the global burn care market in 2026.
- The major 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).
- The key market players are deeply focused on formulating new skin graft technologies. For instance, in April 2019, Mallinckrodt Plc. announced that Stratatech, a Mallinckrodt company, completed patient enrollment in its ongoing pivotal Phase 3 clinical trial of StrataGraft, which is an investigational regenerative skin tissue. The multicenter study assessed the efficacy and safety of StrataGraft in the promotion of autologous skin regeneration of complex skin defects. Furthermore, in March 2018, Ireland-based research center Curam brought forward a multidisciplinary healthcare approach, known as the NanoGrowSkin Project, in a bid to develop novel therapies and technologies in skin regeneration for the treatment of burns and chronic wounds.
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