Burn Ointment Market size was estimated at $ 756 million in 2019, projected to grow at a CAGR of 5.8% during the forecast period 2020-2025. Burn Ointment are the products used to treat burn injuries based on the depth of the burn. Burn is a form of physical damage caused by heat contact that can be thermal, electrical, chemical and electromagnetic. There are three forms of burns namely, first degree, second degree, and third-degree burns. The degree of the burn injury depends on the size and the intensity of the burn. Hot liquids and gases causes scalding, often due to hot bathing water, boiling water, steam, hot drinks and cooking oil. Children, on the other hand suffer from accidental burns. Treatment of these burn conditions is focused on the degree of damage. The increase in the occurrence of the burn wounds has resulted in an increase in the demand for the various treatment option, thus the total cost of the burn wounds is rising. Various treatments for burn wounds include biologics, standard products for burn wound care and dressings. Burns ointments are commonly and preferable first aid in the hospitals as well as in the home.
Factors such as increase in burn accidents, rise in the awareness among people about the availability of the different treatment methods is expected to contribute to the growth of the Burn Ointment Market. Over the past few years, there has been rise in burn injuries, which in turn is expected to boost the demand for the Burn Ointments for the next few years. Patients focusing on buying specific products and opt for various treatment methods for the burn wounds for rapid healing and reduce the scarring hinder the Burn Ointment Market. Some chemicals present in the ointments can give allergic reactions which hinder the Burn Ointment Market.
Burn Ointment Market Segment Analysis - By Product Type
The Product type segment of Burn Ointment Market has Silver-based, Iodine-based, Topical Antibiotics and others. Out of which, the Topical Antibiotics segment is expected to grow at 5.5% CAGR due to their wide use in treating the burns and is projected to see substantial growth over the forecast period. The growth of the segment is primarily driven by the high use of this product in the home and increasing occurrence of flaming wounds worldwide. The various topical antibiotics available in the market are Mafenide acetate, Neosprin, Bacitracin, Polymyxin B, Nystatin, Mupirocin and Nitrofurazone. The Silver-based Ointment segment is predicted to see the highest growth in the forecast period. This ointment is used in treating the second and third degree burn wound infections. It is used to destroy the bacteria on the wounds and to prevent their growth. Such Siliverbased ointments include, Silver sulfadiazine, Silver nitrate, Acticoat 7, Flammacerium, Silver cel, Silver amniotic membrane and Aquacel-Ag.
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Burn Ointment Market Segment Analysis - By Geography
Based on Geography the global Burn Ointment Market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America dominated the market share with 38% in the year 2019 owing to the increase in the treatments of burns that are based on Burn Ointment. The increase in occurrence of burns and increase in the awareness of the different treatment options for burn wounds are expected to fuel the demand for the burn wounds ointments in this region. Besides, the presence of major market players in the region, focusing on the competitive strategies such as the developments of new products, mergers and acquisitions, is expected to generate lucrative growth opportunities in the region. On the other hand Asia-pacific Burn Ointment Market is predicted to witness the fastest growth in forecast period. According to WHO, the rate of burn wounds requiring the emergency medical treatment in the Western Pacific region is nearly 20 times greater than in the Americas. The rise in the occurrence of burn wounds is a key factor in boosting the demand in this region. The existence of supportive government initiatives such as the Asia Pacific Burn Congress and high untapped potential are among the main factors projected to fuel business growth in the area over forecast period.
Burn Ointment Market Drivers
Rise in the Burn accidents:
Burn injuries are among the most devastating of all injuries and are a significant global public health issue. Burns are the fourth most prevalent form of trauma in the world, following road accidents, falls and interpersonal abuse. Approximately 90% of the burns occur in the low-and-middle-income countries, regions that typically lack the facilities required to reduce the occurrence and severity of burns. In many high-income countries, burn rates have been falling and the incidence of infant burn-related deaths is actually more than 7 times higher in low-and middle-income countries than in high-income countries. Non-fatal burns are the leading cause of morbidity, including extended hospitalization, disfigurement and disability, frequency resulting in stigma and rejection.
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Burn Ointment Market Challenges
Side Effects:
Some of the burn ointments causes mild to severe side effects like allergies. For an instance Silver sulfadiazine is an ointment used in treating the patients with extreme burns. It acts by preventing the growth of bacteria that can invade an open wound. It is class of medications known as sulfa antibiotics. But this ointment can cause allergies like itching, pin, burning and discoloration of skin.
Scarring:
The major challenge that is constraining the growth of the Burn Ointment Market is the scaring. Though there are many advancements in the products used in treating the burns most of them doesn’t seem to work on complete eradication of the scare formed due to the burn. This factor is hindering the growth of the Burn Ointment Market.
Advanced treatments:
Most of the Burn Ointment don’t work effectively on scarring after healing the wounds. This is making most of people to go with the alternative treatment options for the scarring and as the Burn Ointment treatment is a long process of healing the scars and sometimes it doesn’t remove the scar.
Burn Ointment Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Burn Ointment Market. In 2019, Burn Ointment Market share is fragmented by the top ten players present in the market. Burn Ointment Market top 10 companies are, Dr. Morepen; Smith & Nephew; Johnson & Johnson; ConvaTec Inc; Sun Pharmaceutical Industries Ltd; 3M; Integra LifeSciences Corporation; Medtronic; Hill Rom; Acelity.
Acquisition/Product Launches:
In December 2016, Smith and Nephew successfully completed their Wound Care Academy in the kingdom of Saudi Arabia to develop the skills of the medical practitioners in the arear of wound care.
Key Takeaways
Geographically, North America the Surgical Sealants and Adhesive Market accounted for the 38% revenue share in 2019 and it is predicted to dominate during the forecast period 2020-2025 owing to the high demand for Surgical Sealants and Adhesives in this region.
Increased demand for R&D made by the key players in a different region of the world are driving the market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Surgical Sealants and Adhesives market.
Related Reports :
A. Burn Care Market
https://www.industryarc.com/Report/16796/burn-care-market.html
B. Wound Debridement Market
https://www.industryarc.com/Research/Wound-Debridement-Market-Research-501308
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