The global burn care market is expected to reach USD 2.98 billion by 2025, according to a new report by Grand View Research, Inc. Increasing incidence of burn injuries is anticipated to fuel the demand for cost-effective treatment over the forecast period. The introduction of advanced treatment options such as reconstructive surgery and skin graft or bio membrane are expected to upsurge the demand for these products over the coming years.
Favorable government initiatives such as reimbursement policies that cover almost 70% to 100% of the treatment cost, upsurge the adoption of advanced wound care products during the forecast period. In addition, government organizations including the World Health Organization (WHO) and nonprofit organizations like the American Burn Association (ABA) are contributing toward raising awareness amongst consumers, which is anticipated to contribute to the growth of the market.
For instance, the WHO entered into a collaborative agreement with the International Society for Burn Injuries to develop the strategies for improving care & prevention of incidence at a global level. Furthermore, various nonprofit organizations undertake initiatives such as the British Burn Association offers knowledge on best cure and rehabilitation available and the Canadian Association of Burn Nurses provides assistance for the remedy of patients.
U.S. burn care market revenue by product, 2014 – 2025 (USD million)
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Further key findings from the report suggest:
- The advanced dressing segment dominates the overall product segment as of 2016 due to higher adoption by consumers
- Biologics treatment option is expected to exhibit higher growth during the forecast period due to the benefits offered with its usage such as accelerated wound healing
- Partial-thickness wound segment is anticipated to showcase the highest growth owing to the rising number of injury cases because of fire, which damage more than 15% of their body
- The outpatient care unit segment is anticipated to grow at the fastest CAGR in coming years as the minor and partial-thickness wounds do not require any hospital admissions
- The Asia Pacific market is projected to witness fastest growth due to rising incidence of burn cases coupled with growing awareness pertaining to the available cure
- The industry is facing strong competition as the major players are focusing on the development of technologically efficient treatment options
- Companies are focusing toward strategies such as the distribution channel enhancement and product portfolio expansion to gain competitive advantage over the forecast period
For more information: http://www.grandviewresearch.com