Burn Care Market to Garner $3.13 Bn, Globally, by 2027 at 5.6% CAGR: Allied Market Research

Burn Care Market to Garner $3.13 Bn, Globally, by 2027 at 5.6% CAGR: Allied Market Research

PR Newswire

PORTLAND, Oregon, May 11, 2020

- Increase in incidence of burn injuries, rise in government expenditure on healthcare, and advancements in burn care products have boosted the growth of the global burn care market

PORTLAND, Oregon, May 11, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "Burn Care Market by Product (Advanced Burn Care, Biologics, Traditional Burn Care, and Others), Depth of Burn (Minor Burns, Partial-thickness Burns, and Full-thickness Burns), and End User (Hospitals, Physician Offices, Home Care, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global burn care industry was pegged at $1.99 billion in 2019, and is expected to reach $3.13 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027.

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Major determinants for the market growth

Increase in incidence of burn injuries, rise in government expenditure on healthcare, and advancements in burn care products have boosted the growth of the global burn care market. However, high cost of advanced burn care products hampers the market growth. On the contrary, untapped markets and high growth potential in developing economies are expected to create lucrative opportunities for the market players in the coming years.

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COVID-19 scenario: The outbreak of COVID-19 has hugely affected the global burn care industry.

The advanced burn care segment held largest share

The advanced burn care segment dominated the market, accounting for nearly half of the market. Moreover, the segment is expected to register the highest CAGR of 6.4% during the forecast period. This is owing to advancements in burn care products, rise in awareness programs for advanced burn care treatment & management, surge in healthcare expenditure, and increase in incidence of burn cases around the globe.

Partial-thickness burns segment to manifest the fastest CAGR through 2027

The partial-thickness burns segment is projected to portray the highest CAGR of 6.1% during the study period. Moreover, the segment held the largest share in 2019, accounting for more than two-fifths of the market. This is due torise in incidence of burns & burn-related injuries, rise in usage of advanced dressings & biologics such as skin grafts & substitutes, advancements in burn care products, and increase in awareness toward the usage of advanced burn care products.

North America dominated the market

The market across North America held the largest share in 2019, contributing to nearly two-fifths of the market. This is due to development of technological advanced burn care products, upsurge in adoption of burn care products for the treatment of burns & burn-related injuries, change in preferences from traditional burn care products to advanced burn care products.However, the market across Asia-Pacific is expected to register the highest CAGR of 7.5% during the forecast period. This is due to rise in demand for advanced burn care products, improvement in health awareness, development in healthcare infrastructure, rise in number of laboratories with advanced medical facilities, surge in healthcare reforms, and increase in number of target population suffering from burns & burn-related injuries in emerging economies.

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