Burn Care Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Products (Advanced Burn Care, Biologics, Traditional Burn Care, Other); Burn Depth (Minor Burns, Partial-thickness Burns, Full-thickness Burns); End User (Home Care, Hospitals, Physician Office, Others); and Region/Country
Global Burn Care Market is expected to grow at a significant rate of around 7% during the forecast period. Burn care solutions are used to prevent complications like infections, pain control (morphine), scarring risk, dead tissue removal, and functional recovery. In addition, with several technical developments, the market has become a standard for the treatment of burns of all intensities. Thus, modern products are quickly replacing traditional approaches to burn care management because they are more effective in treating burn injuries and promote faster healing. Moreover, with the increasing prevalence of burns, high demand for skin grafts, expanding public awareness of available treatment options, and rapid improvements in technology, there is a developing market for burn care goods. For instance, in June 2021, Mallinckrodt Pharmaceuticals received FDA approval for its engineered skin product, StrataGraft, for the treatment of serious thermal burns. Therefore, people are becoming more aware of the numerous burn care therapy which is driving the market for burn care.
3M, Hollister Incorporated, Cardinal Health Inc, Integra LifeSciences Corporation, Coloplast Corp., DeRoyal Industries Inc, Smith & Nephew plc, ConvaTec Group PLC, Mölnlycke Health Care AB., Johnson & Johnson are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product, Advanced burn care category to witness significant CAGR during the forecast period”
Based on product, the market is segmented into advanced burn care, biologics, traditional burn care, and others. The advanced burn care segment had significant revenue and CAGR growth in the analyzed period. The development of this segment is anticipated to be fueled by significant advancements in advanced care products, growing healthcare costs, and rising awareness of improved burn management & treatment programs. Healthcare devices have many advantages, including quick recovery times, usability, and cost-effectiveness.
“Amongst burn depth, the partial-thickness burns to hold a significant share in the market in 2020”
Based on burn depth, the market is segmented into minor burns, partial-thickness burns, and full-thickness burns. Among these, the partial-thickness burns to hold a significant share in the market in 2020. The rise in burns and burn-related injuries, rising demand for improved dressings and biologics such as skin grafts and substitutes, and technological developments in burn care products are all considered to be contributing factors. According to the U.S. FDA, approximately 40,000 people are hospitalized each year due to partial burns. Additionally, increasing public awareness of medical services and treatments for skin burns is anticipated to support the expansion of this market.
“North America to hold a significant share in the market”
North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as increasing spending on surgical and chronic wounds; and technological advancements in this region. In addition, the increasing incidence of burns and high demand for skin grafts and substitutes, and ongoing projects will boost the market in this region. For instance, according to the January 2020 report of the American Burn Association, about 450,000 serious burn injuries are recorded every year in the United States which require medical attention, and hence, the market is expected to grow in the country. Moreover, due to the greater availability of burn care products, the introduction of new products, and greater public knowledge of burn care treatment, the United States is anticipated to hold a significant market share in the North America region.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
- The report presents a quick review of overall industry performance at one glance.
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
The global burn care market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.
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|1.1. Market Definitions|
|1.2. Main Objective|
|2.1. Research Process of the Burn Care Market|
|2.2. Research Methodology of the Burn Care Market|
|2.3. Respondent Profile|
|3. MARKET SYNOPSIS|
|4. EXECUTIVE SUMMARY|
|5. IMPACT OF COVID-19 ON THE BURN CARE MARKET|
|6. BURN CARE MARKET REVENUE (USD BN), 2020-2028F|
|7.1. Advanced Burn Care|
|7.3. Traditional Burn Care|
|8.1. Minor Burns|
|8.2. Partial Thickness Burns|
|8.3. Full Thickness Burns|
|9.1. Home Care|
|9.3. Physician Office|
|10.1. North America|
|10.1.1. The U.S.|
|10.1.3. Rest of North America|
|10.2.2. The U.K.|
|10.2.6. Rest of Europe|
|10.3.4. Rest of Asia-Pacific|
|10.4. Rest of World|
|11.1. Market Drivers|
|11.2. Market Challenges|
|11.3. Impact Analysis|
|12. BURN CARE MARKET OPPORTUNITIES|
|13. BURN CARE MARKET TRENDS|
|14.1. Demand Side Analysis|
|14.2. Supply Side Analysis|
|15. VALUE CHAIN ANALYSIS|
|16.1. Competitive Landscape|
|16.1.1. Porters Five Forces Analysis|
|17.2. Hollister Incorporated|
|17.3. Cardinal Health Inc|
|17.4. Integra LifeSciences Corporation.|
|17.5. Coloplast Corp.|
|17.6. DeRoyal Industries Inc.|
|17.7. Smith & Nephew plc|
|17.8. ConvaTec Group PLC|
|17.9. Mölnlycke Health Care AB.|
|17.10. Johnson & Johnson|
Research Methodology for the Burn Care Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global burn care market were the three major steps undertaken to create and analyze the adoption of burn care in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global burn care market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the burn care market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the burn care market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product, burn depth, and end user. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the burn care market. Further, we conducted factor analysis using dependent and independent variables such as the increase in the incidence of burn injuries. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the burn care market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global burn care market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the burn care market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global burn care market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global burn care market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, burn depth, and end user in the global burn care market.
The main objective of the Global Burn Care Market Study
The current & future market trends of the global burn care market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the burn care market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of product, burn depth, and end user.
- Define and analysis of the regulatory framework for the burn care
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
- Analyze the current and forecast market size of the burn care market for the major region.
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the World.
- Company profiles of the burn care market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry
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