The global burn care market size is expected to reach USD 3.19 billion by 2026
NEW YORK, April 30, 2019 /PRNewswire/ --
Burn Care Market Analysis Report By Product (Advanced Dressing, Biologics, Traditional), By Depth of Burn (Minor, Partial, Full), By Cause (Thermal, Electrical), By End Use, And Segment Forecasts, 2019 - 2026
Read the full report: https://www.reportlinker.com/p05741292/?utm_source=PRN
The global burn care market size is expected to reach USD 3.19 billion by 2026. It is projected to expand at a CAGR of 6.8% during the forecast period. Increasing incidences of burn injuries are anticipated to fuel the demand for cost-effective treatment. According to the World Health Organization (WHO), in 2017, 96.0% of fatal burns related to fire occurred in low- to middle-income countries. It further stated that on an average, burns resulting from fires every year caused 265,000 deaths. Majority of these deaths occur in low- to middle-income countries and approximately two-thirds occur in countries in Southeast Asia. Moreover, introduction of advanced treatment options such as reconstructive surgery and skin graft or bio membrane are expected to further upsurge the demand.
Favorable government initiatives such as reimbursement policies by the U.S. government that covers almost 70% to 100% of the treatment cost is anticipated to upsurge the adoption of advanced wound care products during the forecast period. In addition, government organizations including the WHO and nonprofit organizations like the American Burn Association (ABA) are contributing to raising consumer awareness, which is anticipated to contribute to the growth of the burn care market. For instance, the WHO's collaborative agreement with the International Society for Burn Injuries for improving care and prevention of incidence at a global level.
Further Key Findings from the Study Suggest:
• Advanced dressing was the leading product segment in 2018 due to high adoption by consumers
• Biologics treatment option is expected to exhibit high CAGR during the forecast period due to the usage benefits associated with this option, such as accelerated wound healing
• Partial-thickness wound segment is anticipated to showcase the highest growth owing to the rising number of injuries caused by fire damaging more than 15.0% of body
• Thermal burns held a major market share in 2018, attributed to increasing incidence of burns due to fire and flames
• Outpatient care unit segment is anticipated to register the fastest CAGR in the forthcoming years as the minor and partial-thickness wounds do not require any hospital admissions
• Asia Pacific is projected to witness the fastest growth due to rising cases of burns coupled with growing awareness pertaining to the available cure. For instance, a March 2017 HWO study estimated that on an average 173,000 Bangladeshi children suffer from moderate to severe burns every year
• The burn care market is facing strong competition as the major players focus on the development of technologically efficient treatment options. They also focus on strategies such as distribution channel enhancement and product portfolio expansion to gain a competitive edge.
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