Burn Care Market On Position to Cross $3,134 Million by 2027
Pune, Maharashtra, India, December 3 2020 (Wiredrelease) Allied Analytics –:According to a new report published by Allied Market Research, titled, “Burn care Market by Product, Depth of Burn, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the global burn care market size was valued at $1,992 million in 2019, and is projected to reach $3,134 million by 2027, growing at a CAGR of 5.6% from 2020 to 2027.
Burns are injuries characterized by severe skin damage, resulting in death of tissue or skin cells. Burn care involves treatment and management of burns that can be prevented only if few precautions are followed, for instance, minor burns can be treated by simple pain medicines, whereas major burns require continuous treatment in hospitals and specialized burn care centers. The severity of burn injuries depends upon the size and depth of the burn. The burns are classified into three types such as first-degree burns, second-degree burns, and third-degree burns. Burn care products include alginate dressings, collagen dressings, hydrogel dressings, hydrocolloid dressings, wound contact layers, film dressings, foam dressings, tapes, and biologics,.
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The major factors that boost the growth of the global burn care market are increase in incidence of burn cases, rise in demand for minimally invasive procedures, surge in awareness among persons regarding the availability of several treatment options for burn care management, developments in advanced burn care products, and rise in healthcare expenditure in developing economies coupled with inclination toward advanced burn care products. In addition, rise in demand for skin grafts & its substitutes and associated advantages of biologics to treat burn, such as accelerated burn healing, shorter length of hospital stay, and cost efficiency are anticipated to drive the growth of the market. However, high cost associated with advanced burn care products is expected to hinder the growth of the burn care market care market.
Depending on product, the market is categorized into advanced burn care, biologics, traditional burn care, and others. Presently, the advanced burn care segment dominates the global burn care market care market, and is anticipated to continue this trend during the forecast period. The key factors such as developments in advanced burn care products, rise in healthcare expenditure, increase in awareness programs for advanced burn care treatment & management, rise in demand for advanced burn care products, surge in healthcare expenditure, and increase in incidence of burn cases around the globe drive the burn care market care market growth of this segment.
On the basis of depth of burn, the market is classified into minor burns, partial-thickness burns, and full-thickness burns. At present, the partial-thickness burns segment accounts for the majority of burn care market care market share, owing to rise in demand of advanced dressings and biologics such as skin grafts & substitutes, rise in incidence of burns & burn-related injuries, advancements in burn care products, increase in awareness toward the usage of advanced burn care products, and surge in adoption of minimally invasive surgeries drive the growth of this segment.
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Key Findings Of The Study
• Depending on product, the advanced burn care segment held more than 48.26% share in the global market in 2019.
• By depth of burn, the partial-thickness burns segment accounted for the largest market share in 2019, and is expected to remain dominant throughout the forecast period.
• On the basis of end user, the hospitals segment held 42.25% share in the global market in 2019.
• Region wise, Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 7.5% during the forecast period.
North America accounted for approximately 39.40% of the global burn care market share in 2019, and is expected to remain dominant throughout the forecast period.
This was attributed to increase in demand for burn care products, availability of well-developed infrastructure, presence of majority of key players, rise in incidence of burn injuries, and availability of trained medical professionals. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, due to improvement in healthcare infrastructure, rise in number of hospitals equipped with advanced medical facilities, development of the R&D sector, rise in healthcare reforms, and technological advancements in the field of healthcare.
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