The global burns treatment market is poised for significant growth, with an expected market value of US$ 1.2 billion in 2023. Recent market analysis indicates that the sector is projected to accumulate a market value of US$ 2.59 billion by 2033, achieving a compound annual growth rate (CAGR) of 8% during the forecast period from 2023 to 2033.
This growth is driven by the increasing incidence of burn injuries and innovations in treatment options, enhancing patient outcomes and recovery rates.
Key Market Drivers:
- Growing Incidence of Burns: The prevalence of burn injuries continues to rise globally, creating a heightened demand for effective treatment solutions. Factors such as workplace accidents, household incidents, and rising cases of burn trauma are contributing to this trend.
- Innovations in Treatment Options: Ongoing advancements in burns treatment, including novel wound care products, skin grafts, and surgical techniques, are improving patient care and recovery times. These innovations are vital for addressing the diverse needs of burn patients.
- Historical Growth Trends: The burns treatment market registered a CAGR of 5% during the historical period from 2018 to 2022, reflecting a consistent demand for effective and innovative treatment solutions.
Regional Insights: North America is expected to lead the burns treatment market, supported by advanced healthcare infrastructure and significant investments in research and development. Europe is also projected to maintain a substantial share, while the Asia-Pacific region is anticipated to experience rapid growth due to increasing healthcare access and rising awareness of burn treatment options.
Market Outlook: As the demand for effective burns treatment solutions continues to grow, the market is well-positioned for robust expansion over the next decade. With a focus on innovation and improving patient outcomes, the burns treatment market is set to thrive through 2033.
The growth of the 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 increase in the number of research partnerships are boosting the market growth across North America.
Key Takeaways from the Market 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.
“A series of international level collaborations involving healthcare stakeholders across various institutional settings are fueling further clinical trials and research studies dedicated to discovering burn treatment.” says an FMI analyst
What are the Challenges Faced by the Burns Treatment Market?
Expensive Cost of Treatment to restrict Market Growth
The market is projected to get significantly affected by the challenging factors such as limited availability and high cost of advanced burn treatment products, lack of trained healthcare professionals in burn treatment, limited access to quality burn care facilities in developing countries, stringent government regulations for approval of burn treatment products, insufficient reimbursement for burn treatment procedures, competition from alternative treatments such as skin grafting and tissue engineering, risk of infections and other complications during burn wound treatment and so on.
Furthermore, lack of health remuneration policies, rise in cost, and side effects associated with certain treatments is expected to hinder the market growth.
Market 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.
Key Companies Profiled
- Smith & Nephew
- ConvaTec Group
- B. Braun Melsungen AG
- Molnlycke Health Care
- Integra LifeSciences
- Coloplast A/S
- Paul Hartmann AG
- 3M
- Acelity L.P. Inc.
- Medtronic
Key Segments Profiled in the 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
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa
- Oceania
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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