The Global Burns Treatment Industry is poised for significant growth, with a projected market value of US$ 1.2 Billion in 2023, surging to an impressive US$ 2.59 Billion by 2033. This anticipated growth reflects a robust Compound Annual Growth Rate (CAGR) of 8% during the forecast period from 2023 to 2033.
In the historical period from 2018 to 2022, the Burns Treatment Market demonstrated steady progress with a CAGR of 5%. However, the upcoming decade is expected to witness accelerated growth, driven by innovative treatments and increased awareness.
According to data from the National Center for Biotechnology Information, the demand for burns treatment is significant, with approximately 486,000 patients requiring treatment for burns annually in the United States alone. Among them, 40,000 patients necessitate hospitalization. Remarkably, 70% of patients experience burns constituting less than 10% of total body surface area (%TBSA), and 88% receive burns covering less than 20% TBSA.
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The growth of is driven by increased awareness, significant growth in healthcare spending, and a rising incidence of burns. Asia Pacific is a growing market due to a shift towards point-of-care healthcare. The increasing number of hospitals in India and China presents a promising market opportunity globally.
North America is anticipated to acquire a market share of about 25% in the forecast period. This growth is attributable to the rising prevalence of the condition in the region. Furthermore, government initiatives and an increase in the number of research partnerships are boosting market growth across North America.
Key Takeaways from the Global Burns Treatment Industry Study
- From 2018 to 2022, the burn treatment market grew at a CAGR of 5%.
- The global burn treatment market is expected to grow with a 8% CAGR during 2023 to 2033.
- As of 2033, the burn treatment Market is expected to reach US$ 2.59 Billion
- According to the FMI analysis, hospitals account for the largest market share.
- North America is expected to possess 25% market share for the burn treatment market.
- The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
Global Burns Treatment Industry Competition
Key players in the Burns Treatment Market are Smith & Nephew, ConvaTec Group, B. Braun Melsungen AG, Molnlycke Health Care, Integra LifeSciences, Coloplast A/S, Paul Hartmann AG, 3M, Acelity L.P. Inc., and Medtronic among other global players.
- In June 2022, the British Columbia Children’s Hospital, Canada, received about USD 1 million from the BC Professional Fire Fighters Burn Fund to support specialized care for kids with burn injuries.
- In June 2021, the United States Food and Drug Administration (FDA) approved Avita Medical’s expanded use of the RECELL System in combination with meshed autografting for treating all sizes of acute full-thickness thermal burn wounds for both pediatric and adult patients.
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More Insights Available
FMI, in its new offering, presents an unbiased analysis of the global Burns Treatment Ointment Market, presenting historical analysis from 2018 to 2022 and forecast statistics for the period of 2023 to 2033.
The study reveals essential insights based on treatment type, degree of burn, & region.
Key Segments Profiled in the Global Burns Treatment Industry Survey
Treatment Type:
- Wound Care Dressings
- Antimicrobial Dressings
- Hydrocolloid Dressings
- Hydrogel Dressings
- Film Dressings
- Foam Dressings
- Alginate Dressings
- Wound Care Therapy
- Thermal Burn Therapy
- Negative Pressure Wound Therapy
- Ultrasound Therapy
- Hyperbaric Oxygen Therapy
- Medications
- Burn Creams & Ointments
- Anti-infective Drugs
- Painkillers & Anti-anxiety Medications
- IV-Fluids & Therapeutic Peptide
Degree of Burn
- First-degree Burns
- Second-degree Burns
- Third-degree Burns
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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