The global burn ointment market is anticipated to grow at a significant CAGR during the forecast period (2024-2031). The primary factors attributable to the market growth include growing incidences of burn and rising awareness regarding its treatment options. According to the World Health Organization (WHO) in 2018, on average, 265,000 mortalities are caused by burns every year throughout the globe. Most of these mortalities take place in low- to middle-income countries, while nearly half of them take place in Southeast Asia. Adding to this, the rising awareness among the global population about various treatment alternatives for burns is another key factor augmenting the market growth during the forecast period. As a result of the improved awareness, the overall healthcare expenditure on burn care is also increasing, thereby augmenting the global burn ointment market growth.
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Along with all these factors, private as well as public organizations are also substantially contributing to the market growth by conducting various training and awareness programs. For instance, in September 2019, Integra LifeSciences Corp., in collaboration with the European Burn Association, initiated a training program. The training program was organized for surgeons to inculcate the best practices and training for the treatment of burns. The aim of the training program was to provide adequate knowledge to surgeons regarding the benefit of advanced burn care and increase patient compliance during the treatment. Thus, these factors are expected to drive market growth over the forecast period. However, the side effects associated with burnt ointments, such as skin necrosis, itchy skin, redness, etc., are expected to be the major restraining factor for the market.
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Market Coverage
Segment Covered-
- By Product
- By Depth of Burn
- By End-User
Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape: Johnson & Johnson Services, Inc., and Smith & Nephew plc, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Burn Ointment Market Report by Segment
By Product
- Topical Antibiotics
- Silver
- Iodine
By Depth of Burn
- Minor
- Partial Thickness Burn
- Full Thickness Burn
By End-User
- Hospitals
- Clinics
- Others
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