|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The burn ointment market was valued at USD 831.59 million in 2020, and it is expected to reach USD 1176.71 million by 2026, registering a CAGR of 5.95% during the forecast period, 2021-2026.
The current COVID-19 outbreak has negatively affected the growth of the market. The outbreak has led to a decline in the number of patients seeking medical help for burns. In addition, the industry players have also reduced their overall expenditure on the research and development of new products in this market. The supply chain has also been disrupted, as various countries are only allowing the import and export of essential medications. It is expected that market players, in order to resume their growth in the market, will come up with a new solution to address the current scenario.
The major factors driving the growth of the market include rising incidences of burn and increasing awareness regarding treatment options. According to the data published by the World Health Organization (WHO) in 2018, globally, 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 Southeast Asia.
Furthermore, the increasing awareness among people regarding various treatment options related to burns is also a key factor driving the market over the forecast period. Owing to the increased awareness, the overall healthcare expenditure on burn care is also increasing. The market is also growing due to the increasing willingness among people to spend more and opt for new advanced blaze wound care products, especially in the case of patients affected with burns. Apart from this, public and private organizations are also running training and awareness programs to further advance the treatment options. For instance, in September 2019, Integra LifeSciences Corporation, in collaboration with the European Burn Association, initiated a training program. The training program was organized for surgeons to inculcate the best practices and training for the treatment of burns. The aim of the training program was to provide adequate knowledge to surgeons regarding the benefit of advanced burn care and increase patient compliance during the treatment.
Thus, the above-mentioned factors are expected to drive the market growth over the forecast period. However, the side effects associated with burnt ointments, such as skin necrosis, itchy skin, redness, etc., are expected to be the major restraining factor for the market.
Scope of the Report
As per the scope of the report, burn ointments are specially formulated ointments that are used to heal burn wounds. Burn ointments are topical applications effective against minor and major burns. These ointments help prevent infection and prepare the wound to close. The burn ointment market is segmented by product type (topical antibiotics, silver, and iodine), depth of burn (minor burns, partial thickness burns, and full thickness burns), end user (hospitals and clinics and other end users), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across the major regions globally. The report offers the value (USD million) for all the above segments.
|By Product Type|
|By Depth of Burn|
|Partial Thickness Burns|
|Full Thickness Burns|
|By End User|
|Hospitals and Clinics|
|Other End Users|
Key Market Trends
The Topical Antibiotics Segment is Expected to Hold a Significant Market Share Over the Forecast Period
In terms of product type, the market is segmented into topical antibiotics, silver, and iodine. The topical antibiotics segment is expected to hold a significant market share during the forecast period. The major factors propelling the growth of this segment include the high acceptance of burn ointment products in home-care settings and the rising incidence of burns across the globe. Mafenide acetate, Bacitracin, Mupirocin, Neosporin, Polymyxin B, Nitrofurazone, and Nystatin are the widely accepted topical antibiotics burn ointments. As per the Royal Australian College of General Practitioners 2017 report, stated burn injuries are common and costly. Each year, there are more than 200,000 cases, costing the Australian community USD 150 million. The management of initial burns with an ointment is usually considered effective and is preferred even with dressing or other treatments. Thus, the above-mentioned factors are expected to drive the market growth over the forecast period.
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The North American Region is Expected to Hold a Major Market Share Over the Forecast Period
In the North American region, the United States is expected to hold a major market share due to well-established healthcare infrastructure and the rising incidence of burns. For instance, as per the American Burn Association 2018 report, in the United States, over 300 children are seen in emergency rooms each day, and about two children die from burn injuries. Children aged 16 years and below represent approximately 26% of all admissions to burn center hospitals in the United States. Also, according to the report published by the National Center for Biotechnology Information (NCBI), approximately 486,000 people suffer from blaze wounds every year. A high incidence of burns is likely to drive the demand for burn ointments. In addition, the presence of key players in this region that are focusing on planned initiatives like the launch of new products and mergers and acquisitions is helping the market grow. Thus, owing to the above-mentioned factors, the burn ointment market in the United States is expected to be one of the largest markets and grow in the future.
Asia-Pacific also presents lucrative opportunities in the current scenario for the key players operating in the burn ointment market due to increased patient awareness toward burn care treatment and management, increase in the number of hospitals, development of the R&D sector, rise in healthcare reforms, and increase in the target population in emerging economies.
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The burn ointment market is moderately competitive. The market players are committed to developing innovative healing solutions for customers and patients across the care continuum, generating proven clinical outcomes. The companies are also showing continuous growth and are developing new and differentiated products, which address the evolving healthcare needs among patients. Some of the market players include Johnson & Johnson, Mankind Pharma, Pfizer Inc., Dr.Morepen, Smith & Nephew PLC, and others.
In January 2021, Integra LifeSciences Holdings Corporation completed the previously disclosed acquisition of ACell Inc. to expand more comprehensive complex wound management solutions.
In May 2020, Smith+Nephew entered a strategic partnership with National Medical Billing Services to provide revenue cycle management (RCM) solutions to ambulatory surgery centers (ASCs) across the United States.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidences of Burn
4.2.2 Increasing Awareness Regarding Treatment Options
4.3 Market Restraints
4.3.1 Side Effects Associated with Burn Ointment
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Topical Antibiotics
5.2 By Depth of Burn
5.2.1 Minor Burns
5.2.2 Partial Thickness Burns
5.2.3 Full Thickness Burns
5.3 By End User
5.3.1 Hospitals and Clinics
5.3.2 Other End Users
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.4.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Cardinal Health
6.1.3 Cipla Limited
6.1.4 ConvaTec Group PLC
6.1.5 DeRoyal Industries Inc.
6.1.7 GlaxoSmithKline PLC
6.1.8 Intergra LifeSciences
6.1.9 Johnson & Johnson
6.1.10 Mankind Pharma
6.1.11 Perrigo Company PLC
6.1.12 Pfizer Inc.
6.1.13 Smith & Nephew PLC
6.1.14 Sun Pharmaceutical Industries Ltd (Ranbaxy Laboratories Limited)
6.1.15 Trio Lifescience Pvt. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Burn Ointment Market market is studied from 2018 - 2026.
What is the growth rate of Burn Ointment Market?
The Burn Ointment Market is growing at a CAGR of 5.95% over the next 5 years.
What is Burn Ointment Market size in 2018?
The Burn Ointment Market is valued at 831 Million USD in 2018.
What is Burn Ointment Market size in 2026?
The Burn Ointment Market is valued at 1176 Million USD in 2026.
Which region has highest growth rate in Burn Ointment Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Burn Ointment Market?
North America holds highest share in 2020.
Who are the key players in Burn Ointment Market?
Johnson & Johnson, Mankind Pharma, Pfizer Inc, Dr.Morepen, Smith & Nephew Plc are the major companies operating in Burn Ointment Market.