Burn Ointment Market Analysis Report By Product, By Depth Of Burn, By End Use, By Region And Segment Forecasts From 2020 To 2027

Industry Insights

The global burn ointment market size was worth USD 813.7 million in 2019. It is estimated to register a CAGR of 6.1% over the forecast years, 2020 to 2027. Factors such as increasing incidents of burn, technological advancements, and reimbursement policies are driving the growth of the market. In addition, increasing awareness about the availability of multiple treatment methods is further driving market growth. Over the past few years, there has been a rise in the blaze wounds, which in turn, is expected to drive the demand for economical burn ointments over the next few years. As per the World Health Organization, death due to burn is 265,000 each year on average. Most of these deaths are from middle-income nations with half of them is from South East Asia. In addition, nearly 1,000,000 people suffer from moderate to severe burns in India each year while nearly 173,000 children encounter burn each year in Bangladesh. On the other hand, there are nearly 4,500 people die of burn and 10,000 blaze wounds victims die each year in the United States.

Thus, owing to the rapid rise in blaze accidents, the demand for treatment and wound care has increased significantly, which, in turn, is proliferating the market growth. As per the American Burn Association (ABA), on average, blaze wounds account for 43.0% of overall burn admissions in burn centers. Hot gases and liquids cause scalding, which mostly happens from exposure to the hot cooking water, hot bathing water, hot drinks, steam, and cooking oil. Children, on the other hand, suffer accidental burns.

An increase in the incidents of blaze wounds has resulted in increasing demand for different treatment options; therefore, the overall expenditure on blaze wounds is rising. Various treatments for blaze wounds include biologics, traditional products for blaze wound care, and dressings. Burn ointments are mostly used as first aid in the home as well as in hospitals.

Growing awareness among people about the availability of various treatment methods is also estimated to contribute to the growth of the burn ointment market. Consumer spending on better care for blaze accidents has increased considerably. Patients are focusing on buying advanced products to treat bounds caused by burning. Different burn ointments available in the market are silver, iodine-based and topical antibiotics.

Product Insights

By-products, topical antibiotics accounted for 34.7% share in the market in 2019. Further, the market is likely to register considerable growth from 2020 to 2027. The increasing number of blaze wounds incidents and rising use of in-home care are driving the growth of the segment. Different topical antibiotics present in the market are Bacitracin¸ Nitrofurazone, Polymyxin B, Nystatin, Mafenide acetate, Mupirocin, Neosporin, and Bacitracin among others.

On the other hand, the silver ointment is likely to register the maximum growth from 2020 to 2027. It is used while treating second and third-degree burn-caused infections. By killing wound bacteria, it prevents the growth of the wound. Various silver ointments available in the market are Flammacerium, Aquacel-Ag, Silver amniotic membrane, Silver foams, Silver nitrate, Acticoat 7, and Silver sulfadiazine among others.

End-use Insights

Depending on the end-users, the burn ointment market is classified into hospitals, clinics, and others. Among them, in 2019, the hospitals accounted for the highest share in the market with 41.8%. The rise in the incidents of blaze wounds has led to increasing in hospitalizations, which in turn, has contributed to the growth of the segment. As per the National Center for Biotechnology Information (NCBI) of the United States, around 486,000 people suffer from blaze wounds each year. Further, as per the Centers for Disease Control and Prevention (CDC), more than 40,000 people with burn incidents are hospitalized every year in the United States.

Hospitals offer advanced blaze products for blaze wounds, which, in turn, proliferate the growth of the segment. In addition, hospitals also provide various treatments for laze wounds. Further, for burn accidents, the Medicare program ensures quick reimbursement. Easy reimbursements encourage consumers to opt for advanced care of blaze wounds, which, in turn, supplement the market growth.

Depth of Burn Insights

Based on the depth of burn, the market is segmented into minor burns, partial-thickness burns, and full-thickness burns. In 2019, the minor burn category held the highest share in the market with 42.0%. This kind of burn affects the outermost skin layer. Any burn with less than 10.0% of the Total Body Surface Area (TBSA) is called a minor burn. The minor burn in the United States affects nearly 1.2 million alone each year. Therefore, the increasing number of minor burn incidents is likely to drive the segment growth from 2020 to 2027.

On the other hand, the partial burn category is estimated to register the highest growth from 2020 to 2027. Such burns are between 10-30% of the total body surface area. This burn affects the dermis as well as epidermis layers of skin. These types of burns are serious in nature and require special attention from a healthcare professional. Partial burns result in the hospitalization of nearly 40,000 patients each year according to the U.S FDA.

Regional Insights

In 2019, North America held the largest share in the burn ointment market with a 42.0% share. Further, it is estimated to register a 6.0% CAGR from 2020 to 2027. The rise in the incidents of burns and growing awareness about the availability of various treatment options are driving regional growth. In addition, key players present in the region are emphasizing the various strategic initiatives such as mergers & acquisitions and new product launches, which in turn, are projected to drive the regional growth over the next few years.

The Asia Pacific is predicted to register the highest growth over the forecast duration. As per the World Health Organization, blaze incidents require quick medical attention in the Western Pacific region almost 20th times higher than in the Americas. Increasing blaze wounds incidents is the key factor supplementing the market growth in the region. In addition, favorable government initiatives such as Asia Pacific Burn Congress along with poor healthcare infrastructure in the region offer a lucrative opportunity for the market players.

Impact of COVID-19

COVID-19 outbreak has adversely affected the growth of the market. The outbreak has led to a decline in the number of patients in hospitals. In addition, the industry players have reduced their expenditure on the development of new products, thereby, negatively affecting the market growth. However, low patient turnouts have resulted in the rise of telehealth services. Telehealth helps medical professionals to provide an efficient solution over the phone. Market players are estimated to come up with a new solution to address the increasing blaze burn issues.

Burn Ointment Market Share Insights

Market participants are emphasizing on research & development to introduce technically advanced products to gain a competitive edge in the market. Various strategic initiatives taken by key players include merger & acquisition, partnerships, strengthening product portfolio, and others. In addition, market players are undertaking various initiatives to raise awareness about wound care. Key players operating in the market are Dr.Morepen, Johnson & Johnson, ConvaTec Inc., and Smith & Nephew among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global burn ointment market report based on product, depth of burn, end-use, and region:

• Product Outlook (Revenue, USD Million, 2016 - 2027)
    • Topical Antibiotics
    • Silver
    • Iodine
    • Others

• Depth of Burn Outlook (Revenue, USD Million, 2016 - 2027)
    • Minor Burns
    • Partial Thickness Burns
    • Full Thickness Burns

• End-use Outlook (Revenue, USD Million, 2016 - 2027)
    • Hospital
    • Clinics
    • Others

• Regional Outlook (Revenue, USD Million, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
    • Europe
        • Germany
        • The U.K.
    • The Asia Pacific
        • Japan
        • China
    • Latin America
        • Brazil
        • Mexico
    • Middle East & Africa
        • South Africa
        • Saudi Arabia