Burn Care Market Size, Share & Trends Analysis Report By Depth of Burn, By Product, By Cause, By End Use And Segment Forecasts, 2020 - 2027
NEW YORK, Feb. 27, 2020 /PRNewswire/ --
Burn Care Market Size, Share & Trends Analysis Report By Depth of Burn, By Product (Advanced Dressings, Biologics, Traditional Products), By Cause (Thermal, Electrical, Chemical), By End Use, And Segment Forecasts, 2020 - 2027
Read the full report: https://www.reportlinker.com/p05867074/?utm_source=PRN
The global burn care market size is expected to reach USD 3.4 billion by 2027., registering a 6.9% CAGR over the forecast period. Increasing incidences of burn injuries are anticipated to fuel the demand for cost-effective treatment and care over the forecast period. As per WHO, on an average, 265,000 deaths are caused by fire every year, with majority of these occurring in low-to-middle income countries and half of them occurring in Southeast Asia. The organization states that 96.0% of fatal fire-related injuries occur mainly in low-to-middle income countries.
Moreover, around 1,000,000 people in India suffer from moderate or severe burns each year and around 173,000 children in Bangladesh report similar injuries each year. In the U.S., approximately 4,500 burn victims die annually and 10,000 die due to burn-related infections. Owing to this substantial increase in the number of burn incidences, patient population for such injuries and their treatment and care has increased.
Apart from this, the overall healthcare expenditure on burn care is increasing.Treatment options for such injuries include advanced dressings, biologics, and traditional care products.
Foam dressings developed from semipermeable polyurethane are waterproof and can be used on heavily exuding wounds. As a result of this, they are preferred over normal dressings, which are not waterproof and need to be changed regularly.
By type of treatment and care product, biologics are anticipated to witness rapid growth over the course of the forecast period.Introduction of new products and extensive R&D in this field will continue to drive this method of treatment and care.
Biologics involve the application of active biological agents and molecules. Biologic dressings also include skin grafts and tissue-engineered products designed to replace the affected skin.
North America is the dominant regional market and is fueled by increasing incidence of such injuries and high demand for skin grafts and substitutes.Widespread presence of leading market players in this region is also a major driving factor.
These players focus on numerous strategic initiatives such as launch of new products and mergers and acquisitions to gain a competitive edge.
Further key findings from the study suggest:
• The advanced dressings segment dominated the market based on product in 2019 due to rising technological advancements and increasing demand for advanced treatment and care options
• On the basis of depth of wound, the partial thickness segment is anticipated to witness the fastest growth over the forecast period, which can be attributed to favorable reimbursement policies in developed countries
• By end use, the hospitals segment accounted for the largest share in the market owing to increasing incidence of burn injuries and hospitalizations each year
• Based on cause, thermal injuries held the leading share in the market in 2019 owing to high incidence of fire-related injuries
• Some of the key players operating in the burn care market are 3M; Hollister Incorporated; Cardinal Health; Integra LifeSciences Corporation; KCI Licensing, Inc. (Acelity L.P. Inc.); Coloplast Corp.; DeRoyal Industries, Inc.; Smith & Nephew; and ConvaTec Inc.
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