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Global Burn Ointment Market (2022 to 2027) – Growth, Trends, COVID-19 Impact and Forecasts – ResearchAndMarkets.com

May 19, 2022 Off By BusinessWire

DUBLIN–(BUSINESS WIRE)–The “Burn Ointment Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.

The burn ointment market was valued at USD 831.59 million in 2020, and it is expected to reach USD 1176.71 million by 2026, registering a CAGR of 5.95% during the forecast period, 2021-2026.

Companies Mentioned

  • 3M
  • Cardinal Health
  • Cipla Limited
  • ConvaTec Group PLC
  • DeRoyal Industries Inc.
  • Dr.Morepen
  • GlaxoSmithKline PLC
  • Intergra LifeSciences
  • Johnson & Johnson
  • Mankind Pharma
  • Perrigo Company PLC
  • Pfizer Inc.
  • Smith & Nephew PLC
  • Sun Pharmaceutical Industries Ltd (Ranbaxy Laboratories Limited)
  • Trio Lifescience Pvt. Ltd

Key Market Trends

The Topical Antibiotics Segment is Expected to Hold a Significant Market Share Over the Forecast Period

In terms of product type, the market is segmented into topical antibiotics, silver, and iodine. The topical antibiotics segment is expected to hold a significant market share during the forecast period. The major factors propelling the growth of this segment include the high acceptance of burn ointment products in home-care settings and the rising incidence of burns across the globe. Mafenide acetate, Bacitracin, Mupirocin, Neosporin, Polymyxin B, Nitrofurazone, and Nystatin are the widely accepted topical antibiotics burn ointments.

As per the Royal Australian College of General Practitioners 2017 report, stated burn injuries are common and costly. Each year, there are more than 200,000 cases, costing the Australian community USD 150 million. The management of initial burns with an ointment is usually considered effective and is preferred even with dressing or other treatments. Thus, the above-mentioned factors are expected to drive the market growth over the forecast period.

The North American Region is Expected to Hold a Major Market Share Over the Forecast Period

In the North American region, the United States is expected to hold a major market share due to well-established healthcare infrastructure and the rising incidence of burns. For instance, as per the American Burn Association 2018 report, in the United States, over 300 children are seen in emergency rooms each day, and about two children die from burn injuries. Children aged 16 years and below represent approximately 26% of all admissions to burn center hospitals in the United States.

Also, according to the report published by the National Center for Biotechnology Information (NCBI), approximately 486,000 people suffer from blaze wounds every year. A high incidence of burns is likely to drive the demand for burn ointments. In addition, the presence of key players in this region that are focusing on planned initiatives like the launch of new products and mergers and acquisitions is helping the market grow. Thus, owing to the above-mentioned factors, the burn ointment market in the United States is expected to be one of the largest markets and grow in the future.

Asia-Pacific also presents lucrative opportunities in the current scenario for the key players operating in the burn ointment market due to increased patient awareness toward burn care treatment and management, increase in the number of hospitals, development of the R&D sector, rise in healthcare reforms, and increase in the target population in emerging economies.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Overview

4.2 Market Drivers

4.2.1 Rising Incidences of Burn

4.2.2 Increasing Awareness Regarding Treatment Options

4.3 Market Restraints

4.3.1 Side Effects Associated with Burn Ointment

4.4 Porter’s Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By Product Type

5.1.1 Topical Antibiotics

5.1.2 Silver

5.1.3 Iodine

5.2 By Depth of Burn

5.2.1 Minor Burns

5.2.2 Partial Thickness Burns

5.2.3 Full Thickness Burns

5.3 By End User

5.3.1 Hospitals and Clinics

5.3.2 Other End Users

5.4 Geography

6 COMPETITIVE LANDSCAPE

6.1 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

8 IMPACT OF COVID-19 ON THE MARKET

For more information about this report visit https://www.researchandmarkets.com/r/ch7zkf

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