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Burn Care Centers Global Market to Witness Exponential Growth from 2023 to 2033: Mayo Clinic, Cleveland Clinic, NewYork-Presbyterian Hospital, The Johns Hopkins Medicine, Stanford Health Care
Burn Care Centers Global Market
According to The Business Research Company's, the burn care centers market size has grown strongly in recent years. It will grow from $20.03 billion in 2023 to $21.19 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to the rising prevalence of burn injuries, government support and funding, advancements in burn treatment protocols, awareness campaigns, improved medical infrastructure, an increased number of specialized burn units, military conflicts, and natural disasters.
The burn care centers market size is expected to see strong growth in the next few years. It will grow to $26.69 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increased investment in healthcare, rising awareness of advanced burn care, global health initiatives, an aging population, urbanization and industrialization, telemedicine, and remote care. Major trends in the forecast period include AI and machine learning, 3D printing technology, regenerative medicine, wearable technology, telehealth integration, virtual reality for pain management, and nanotechnology in burn care.
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Market Drivers and Trends:
The growing risk of fire-related industrial accidents is expected to propel the growth of the burn care center market going forward. Fire-related industrial accidents involve fires in industrial settings due to electrical faults, chemical reactions, machinery malfunctions, human error, or inadequate safety measures, causing injuries and property damage. The increase in fire-related industrial accidents is often due to inadequate safety protocols and the use of more complex machinery and materials. Burn care centers play a crucial role in treating injuries from fire-related industrial accidents by providing specialized medical care, rehabilitation, and recovery support for severe burn victims. For instance, in November 2023, according to a report by the American Burn Association, a US-based organization focused on burn-related research, rehabilitation, and prevention, there were 30,135 burn cases in 2022, contributing to 152,312 cases over five years. Moreover, flame or flash incidents accounted for 40% of all cases, with over 90% of these being accidental, a significant rise compared to the previous year. Therefore, the growing risk of fire-related industrial accidents will drive the burn care center market.
Major companies operating in the burn care centers market are advancing burn care telehealth technologies to enhance access to specialized care for burn patients. Telehealth technology facilitates remote consultations and assessments between burn specialists and healthcare providers at different locations and enables quicker decision-making regarding treatment plans. For instance, in June 2023, Staten Island University Hospital, a US-based non-profit hospital, introduced Northwell Health's teleburn service, an innovative telehealth technology to enhance burn care accessibility and efficiency across its hospital network. The teleburn service uses cutting-edge video teleconferencing to provide remote assessment of burn patients shortly after injury, allowing quick choices on whether patients may be treated locally or need to be transferred to a specialized burn hospital via ambulance or helicopter. This effort seeks to improve patient outcomes by ensuring quick access to expert care and appropriate treatment, employing the real-time evaluation capabilities provided by telehealth technology.
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Major Key Players of the Market:
Mayo Clinic, Cleveland Clinic, NewYork-Presbyterian Hospital, The Johns Hopkins Medicine, Stanford Health Care, University of Washington Medical Center, Duke University Hospital, University Of Rochester Medical Center, Massachusetts General Hospital, Brigham and Women's Hospital, University of Chicago Hospital, Cedars-Sinai Medical Center, Parkland Memorial Hospital Regional Burn Center, Temple University Hospital Adult Burn Center, UMC Lions Burn Center, Ronald Reagan UCLA Medical Center, Lehigh Valley Health Network Regional Burn Center, Medstar Washington Hospital Center, Chelsea And Westminster Hospital, Burn And Reconstructive Centers of America, Lac+Usc Medical Burn Center, National Burns Center, Vanderbilt Burn Center, St. Barnabas Burn Center, The Grossman Burn Center
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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