Burn Care Market Gross Margin, Attractiveness, Competitive Landscape and Key Players - Hollister Incorporated, Cardinal Health, Coloplast Corp.

Burn Care Market:

Burning is a form of physical injury induced by exposure to heat that may be caused due to electrical, chemical, radioactive, or thermal. The extent of a burn injury depends on the burn size and depth, which include first-grade burns, second-grade burns, and third-grade burns. Burn care products are used to prevent complications associated with burn injuries, such as pain control, reduce the risk of scarring, remove dead tissue, and prevent infection and recover functioning.

Increasing the occurrence of such accidents, surging demand for skin grafting, rising awareness regarding treatment options, and technological advancements drive the market growth. For instance, as per the World Health Organization (WHO), around 180,000 deaths are caused by burns each year across the globe, and the majority of these fatalities occur in low-and-middle-income countries. The market is also gaining traction due to increasing willingness among people to spend more on better healthcare and opt for new advanced burn care products. There are various treatment and care options available in the market for burn injuries, which include advanced dressings, traditional care products, and biologics.  
Favorable government initiatives, such as reimbursement policies that cover nearly 70–100% of the treatment cost, have enabled patients to opt for advanced burn care treatment. Apart from this, the presence of government organizations such as the World Health Organization (WHO) and non-profit organizations such as the American Burn Association (ABA) provides an impetus to the market growth.

The high cost of burn care hampers the burn care market. The cases of second and third-degree burns involve extended hospital stays, resulting in high costs. As per the American Burn Association, in the U.S., the average length of hospital stay is 54 days for a survivor with 40–60 % body burn, and the estimated cost of the stay is USD 780,000 per patient per year.

North America leads the burn care market on account of rising incidences of burns and high demand for skin grafts and substitutes. As per the American Burn Association, in the U.S., more than 60% of the acute hospitalizations are related to burn injury. In line with this, several organizations are actively working to create awareness and raise demand for burn care products.  

The burn care market was valued at USD 2024 million in 2019 and is projected to grow with a CAGR of 5.9%.

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The Major Prominent Players Covered in this Report:
Hollister Incorporated
Cardinal Health
Coloplast Corp.
Acelity L.P. Inc.
Smith & Nephew
Johnson & Johnson
ConvaTec Inc.
Mölnlycke Health Care AB
3M Company
DeRoyal Industries
Integra LifeSciences Corporation

Burn Care Market Segmentation-
By Product- Advanced Burn Care, Biologics, Traditional Burn Care,
By Depth of Burn- Minor Burns, Partial-Thickness Burns, Full-Thickness Burns

NOTE: Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post the COVID-19 crisis. The report aims to provide an additional illustration of the latest scenario, economic slowdown, and COVID-19 impact on the overall industry.

The analysis of the Burn Care Market by lays out the market size information and knowledge about the market trends along side factors and parameters influencing it in both short- and long-term. The research provides a comprehensive 360° view and insights, outlining the main outcomes of the industry. These essential insights assist the decision-makers in formulating better business plans and make informed decisions for improved profitability. Moreover, the analysis helps venture capitalists in understanding the businesses with a far better perspective and make aware decisions.

Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth rate of Steerable Medical Devices in these regions, from 2019 to 2029, covering:
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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Impact of COVID-19 -
COVID-19 pandemic has created havoc across the globe, with healthcare systems struggling to prepare adequately for other critical care services, such as burn injuries. In many places, the sudden rise in demand for critical care units has created scarcity, which is expected to impact the capacity of healthcare systems to provide critical care for burn injuries. This has obligated each burn care center to prepare under severe stress conditions, further hampering the market growth. 

Key Burn Care Market Trends:
- The report identifies, determines, and forecasts the Global Burn Care Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Burn Care Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is Expected to Drive the Growth
- Rising Adoption of Market Segments in this Growth
- North American, Europe is Expected to Witness Higher Growth Rate over the Forecast Period
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Burn Care Market.

Key Questions Answered in The Report:
What will the Burn Care market growth rate?
What are the key factors driving the global Burn Care market?
Who are the key manufacturers in the Burn Care market space?
What are the market opportunities, market risk, and market overview of the Burn Care market?
What are sales, revenue, and price analysis of top manufacturers of the Burn Care market?
Who are the distributors, traders, and dealers of the Burn Care market?
What are the market opportunities and threats faced by the vendors in the global Steerable Medical Devices Industry?
What are sales, revenue, and price analysis by types and applications of the Burn Care Industry?
What are sales, revenue, and price analysis by regions of Burn Care industry?
What are the driving factors contributing to market growth during the short, medium, and long term?

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This release was published on openPR.