Burn Care Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI1857
Burn Care Market is expected to gain consistent traction in the coming years, generating substantial revenue by 2027. Some of the major upcoming trends in the market will be influenced by the growing number of burn injuries due to fires and other accidents. In the U.S. alone, more than 60% of acute hospitals admissions are related to burn injury, according to the American Burn Association (ABA). These factors along with the demand for minimally invasive solutions for treating burns will propel the market growth.
With constant efforts by government and regulatory organizations, as well as information available on the internet, there has been increased public awareness regarding the different options available for treatment and management of burns, both at home and in healthcare institutions. Robust expenditure in healthcare infrastructure, especially in developing regions, will positively impact the market during the forecast timeline.
Globally, increasing consumer focus on aesthetic appearance is being observed, leading to an increased demand for skin grafts and other procedures. The availability of a wide variety of biologics for burn wound treatment providing benefits such as faster wound healing, cost efficiency, and shorter hospital stay will augment the market expansion.
Considering the product landscape, the advanced dressings segment is likely to capture a fair share of the market through 2027. The segment includes hydrogel dressings, collagen dressing, alginate dressings, hydrocolloid dressings, foam dressings, film dressings, wound contact layers, and others. These products provide various advantages such as ease of use, cost efficiency, and shorter recovery time. Among these, hydrogel dressings are poised to witness robust demand. These dressings are generally used for treating blistering wounds. Hydrogel dressings consist of a layer of hydrating polymer that alleviates pain and provides moisture to accelerate healing.
Geographically, North America burn care market is slated to record notable gains during the forecast timeframe. The American Burn Association (ABA) reports that more than 450,000 severe burn injuries occur in the U.S. each year requiring specialized medical treatment. To raise awareness regarding treatment and management of burns, the ABA had declared the first week of February 2020 as the National Burn Awareness Week. Similar campaigns by other health and public safety organizations will certainly foster the regional growth.
3M Company, Smith & Nephew, Medtronic, Derma Sciences (Integra LifeSciences Holdings Corporation), Coloplast, Convatec, Mölnlycke Health Care, and Acelity (3M Company) are some of the established names in the market. Mergers, acquisitions, and partnerships are among the key strategies adopted by the players to expand their operations and gain a competitive advantage. For example, 3M company had completed the acquisition of Acelity Inc. and its global subsidiaries in October 2019.
Regulatory approvals play a critical role in bringing safe, reliable, and innovative burn care products to the market. Manufacturers are prioritizing R&D to create efficient and low-cost products that comply with the latest industry standards. Citing an instance, in November 2020, Advanced Medical Solutions (AMS) had received CE market for its novel silicone PHMB foam dressing, helping strengthen the company’s advanced wound care portfolio in Europe.
Summarizing key challenges for burn care market amid COVID-19 pandemic
Government restrictions including lockdown measures in many parts of the world to contain the spread of the coronavirus outbreak may have resulted in lower hospital admissions related to minor burn injuries as well as a decline in the number of burn care surgeries performed. Also, with a majority of people working from home and shutdown of numerous industrial facilities, the number of fire accidents dropped significantly, leading to fewer burn injuries. Numerous burn care products showcased a fluctuating demand throughout the pandemic.
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