Burn Ointment Market Is Projected To Reach Around USD 1,500 Million In 2030 Exhibiting A CAGR Of 6.0% In The Forecasted Period

The global burn ointment market size was valued at USD 900 million in 2021 and is projected to reach around USD 1,500 million in 2030 exhibiting a CAGR of 6.0% in the forecasted period.

A burn is one kind of physical damage brought on by heat exposure. The heat may be caused by chemical, electrical, thermal, or electromagnetic energy. The size and depth of a burn indicate how severe the injury is. Burns come in three different degrees: first degree, second degree, and third degree. How burn injuries are treated depends on the severity of the damage. The items used in the treatment of burns include biologics, advanced burn care, and traditional burn care. Utilising burn care products is crucial for minimising negative effects including a lower risk of scarring, pain management, the elimination of dead tissue, function restoration, and infection prevention.

The rise in consumer awareness of various burn treatment options is one of the key factors affecting the market over the projection period. Healthcare spending on burn care is rising rapidly as a result of increased awareness. Another factor boosting the expansion of the global burn ointment market is consumers' greater readiness to spend more money on novel, enhanced burn wound care solutions for patients. Additionally, both public and commercial groups are launching awareness campaigns to broaden the selection of treatment options.

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COVID-19 Influences on the Market:

The ongoing COVID-19 epidemic has a detrimental effect on market expansion. As a result of the outbreak, fewer people are seeking medical treatment for burns. In addition, less money has been spent overall by the sector on the development of new products for this market. The supply chain has also been disrupted since certain nations only allow the import and export of essential drugs. In order to restore their position in the market, industry players must develop a novel solution to the current problem.

Key Companies Insights:

The market for burn ointment is moderately competitive. With the rising applications of burn ointment, new players are considering to enter the market. The companies are also involved in activities like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the Burn ointment market, ultimately boosting the market growth. Some of the key companies working in the global burn ointment market include:
• 3M
• Cardinal Health
• Cipla Limited
• ConvaTec Group PLC
• DeRoyal Industries Inc.
• Dr. Morepen
• GlaxoSmithKline PLC
• Intergra LifeSciences
• Johnson & Johnson
• Mankind Pharma
• Perrigo Company PLC
• Pfizer Inc.
• Smith & Nephew PLC
• Sun Pharmaceutical Industries Ltd (Ranbaxy Laboratories Limited)
• Trio Lifescience Pvt. Ltd
• Other players

Some of the Recent Developments:
• In May 2022, Molncyke Healthcare submitted the clinical evidence in Wound International 2022 on the use of Mediplex Ag for the management of partial thickness burns. The soft silicone wound contact layer in Mediplex intended to help minimise wound and peri-wound trauma and associated pain aided in the burn healing.
• In April 2022, the Hospices Civils de Lyon sponsored a clinical trial that examined the use of silver sulphadiazine as an ointment for giving second-degree fibrinous burns. The study was projected to be started by September 2022.

Segments:

By Product Type
• Topical Antibiotics
• Silver
• Iodine
By Depth of Burn
• Minor Burns
• Partial Thickness Burns
• Full Thickness Burns
By End User
• Hospitals and Clinics
• Other End Users
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt

Region Insights:

In the North American region, the United States is anticipated to hold a foremost market share due to well-established healthcare infrastructure and the rising incidence of burns. For instance, as per the Fire and Burn Prevention: 2021 Resource Guide published in May 2021, over 100,000 are admitted to a hospital or treated in an emergency department owing to fire or burn injuries each year. Also, fires and burns were the fifth leading cause of unintentional injury-related deaths to children ages 1-19 in the United States.

A high incidence of burns is expected to drive the demand for burn ointments. Moreover, the existence of key players in this region that are aiming 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.

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Market Dynamics:

The industry is progressing because burns are getting more prevalent and because individuals are becoming more informed about their treatment options. The World Health Organisation (WHO) reported that on average, burns result in 265,000 fatalities worldwide each year. The majority of these fatalities take place in low- to middle-income nations, with Southeast Asia being the region where 50% of all fatalities take place. Additionally, 173,000 children in Bangladesh and around 1,000,000 people in India suffer moderate to severe burns annually. It went on to say that every year in the United States, there are around 10,000 flame wound victims and 4,500 burn casualties.

The research offers a thorough analysis of the world market for burn ointment. Deployment models, operator case studies, opportunities, future roadmaps, value chains, ecosystem participant profiles, and strategies are all featured. This also includes enabling technologies, key trends, market drivers, challenges, competition, standardisation, regulatory landscape, and deployment models. A SWOT analysis and investment forecast for Burn Ointment are also included in the research.

The unpredictable COVID-19 epidemic has reduced global revenue in a number of businesses. The economy has been devastated, and there have been huge losses. As the world continues to fight the COVID-19 pandemic, policymakers, business leaders, and members of the Burn Ointment are attempting to stop the deadly pandemic of economic failure. The parties involved in the Burn Ointment made admirable actions by putting good ideas into action, acting quickly, and restructuring the entire market system. This has allowed them to continue operating their businesses.

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Frequently Asked Questions:

1] What segments are covered in Burn Ointment Market report?
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3] Who are the top key players in the Burn Ointment Market?
4] Which segment holds the largest market share in the Burn Ointment market by 2029?
5] What is the market size of the Burn Ointment market by 2029?
6] What was the market size of the Burn Ointment market in 2021?

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