Increasing Incidence of Burn Injuries to Propel the Growth of for Burn Treatment Market at 6% CAGR through 2033 | FMI Study
The global Burns Treatment Market is expected to garner a market value of US$ 1.2 Billion in 2023 and is expected to accumulate a market value of US$ 2.59 Billion by registering a CAGR of8% in the forecast period 2023 to 2033. The market for Burns Treatment registered a CAGR of 5% in the historical period 2018 to 2022.
According to the National Center for Biotechnology Information, Approximately 486,000 patients require treatment for burns, and 40,000 require hospitalization within the United States each year. Nationally, 70% of patients who are burned receive burns that comprise less than 10% total body surface area (%TBSA), and 88% of all patients receive a less than 20% TBSA burn
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The growth of the is driven by increased awareness, significant growth in healthcare spending, and a rising incidence of burns. Asia Pacific is a growing market due to a shift towards point-of-care healthcare. The increasing number of hospitals in India and China presents a promising market opportunity globally.
North America is anticipated to acquire a market share of about 25% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. Furthermore, government initiatives and increase in the number of research partnerships are boosting the market growth across North America.
Key Takeaways from the Market Study
- From 2018 to 2022, the burn treatment market grew at a CAGR of 5%.
- The global burn treatment market is expected to grow with a 8% CAGR during 2023 to 2033.
- As of 2033, the burn treatment Market is expected to reach US$ 2.59 Billion
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 25% market share for the burn treatment market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
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“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering burn treatment.” says an FMI analyst
Key players in the Burns Treatment Market are Smith & Nephew, ConvaTec Group, B. Braun Melsungen AG, Molnlycke Health Care, Integra LifeSciences, Coloplast A/S, Paul Hartmann AG, 3M, Acelity L.P. Inc., and Medtronic among other global players.
- In June 2022, the British Columbia Children’s Hospital, Canada, received about USD 1 million from the BC Professional Fire Fighters Burn Fund to support specialized care for kids with burn injuries.
- In June 2021, the United States Food and Drug Administration (FDA) approved Avita Medical’s expanded use of the RECELL System in combination with meshed autografting for treating all sizes of acute full-thickness thermal burn wounds for both pediatric and adult patients.
More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global burns treatment ointment market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights on the basis of treatment type, degree of burn, & region.
Key Segments Profiled in the Burns Treatment Industry Survey
- Wound Care Dressings
- Antimicrobial Dressings
- Hydrocolloid Dressings
- Hydrogel Dressings
- Film Dressings
- Foam Dressings
- Alginate Dressings
- Wound Care Therapy
- Thermal Burn Therapy
- Negative Pressure Wound Therapy
- Ultrasound Therapy
- Hyperbaric Oxygen Therapy
- Burn Creams & Ointments
- Anti-infective Drugs
- Painkillers & Anti-anxiety Medications
- IV-Fluids & Therapeutic Peptide
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Degree of Burn
- First-degree Burns
- Second-degree Burns
- Third-degree Burns
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