Global Burn Care Market Is Expected To Reach US$ 2.87 Bn In Terms Of Value By 2025
According to the latest market report published by Credence Research, Inc. “Burn care Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global Burn care market was valued at US$ 1.64 Bn in 2016, and is expected to reach US$ 2.87 Bn by 2025, expanding at a CAGR of 6.4% from 2017 to 2025.
Browse the full report Burn care Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025 report at https://www.credenceresearch.com/report/burn-care-market
According to world health organization (WHO), an estimated of 265,000 deaths are caused by burns every year, frequently happening in low and middle income countries. Availability of advance treatment, increasing cases of burn, favorable government initiatives and growing number of emergency centers are key parameters driving the growth of global burn care market. The global burn care market is categorized in terms of severity of burn, product type, and geography. Bsed on product type, the market is segmented into traditional burn care products, biologic skin grafts and advanced burn care products. In 2016, advanced burn care products dominated the market due to factors such as it lower the risk of infection in the wound, simple to apply, offers minimize irritation, more effective, require minimal maintenance and patient comfort. Based on severity of burn, the global burn care market is segmented into full-thickness burns, partial-thickness burns, and minor burns. In 2016, third-degree burns or full-thickness burns held largest market share as third-degree burns usually demand long-term treatment due to the high impact on layers of skin. Furthermore, the treatment may need surgical therapies and IV antibiotics to prevent the growth of infections.
In 2016, North America dominated the global burn care market due to higher preference for advance burn care treatment, satisfactory reimbursement policies by the government, more concern for aesthetic appearance, higher treatment cost and technological advancement.
Market Competition Assessment:
The global burn care market is highly competitive due to presence of numerous major and regional vendors. However, the market was dominated by key players including Coloplast A/S, Acelity L.P., Inc., 3M Company, ConvaTec, Inc., Medtronic Plc, Derma Sciences, Inc., Molnlycke Health Care, Hollister, Inc., and Smith & Nephew Plc.
Key Market Movements:
- Parameters such as rise in cases of burn, increasing number of burn and emergency centers units, growing awareness about treatment opportunities, increased healthcare expenditure and advancement in treatments options are contributing to the growth of the market globally.
- Owing to the vast unmet needs, players in the global market are concentrating on technological advances and innovation in treatment that positively affects surge of the market.
- However, stringent regulatory requirements, high price of advance surgery and treatment, and absence of reimbursement in few countries negatively affects the market.
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