Burn Ointment - Market Insights, Competitive Landscape, and Market Forecast - 2030

Burn Ointment Market By Product Type (Topical Antibiotics, Silver-Based, Iodine-Based, And Others), By Degree (First Degree, Second Degree, And Third Degree), By End-User (Hospital And Clinics, Speciality Burn Centres, And Others), by geography is estimated to register growth at a steady CAGR during forecast period of 2024-2030 owing to rise in prevalence of burn cases and significant advances in the field of burn care

The global burn ointment market will grow at a CAGR of 5.4% during the forecast period from 2024 to 2030. The burn ointment market is estimated to witness prosperity owing to the reason that there is a rising prevalence of burn-related injuries and significant advances being made in the area of burn care. Furthermore, with favorable reimbursement policies, the burn ointment market is expected to grow at an appreciable revenue growth during the forecast period (2024-2030).

Burn Ointment Market Dynamics:

Burn ointments are essentially the first step in aiding any burn injuries. Burn could be of various degrees arising from sources such as fire, electricity, and chemical. Burn ointments are applied to the area of the burn to give patients instant relief. Thus, being one of the first steps in the treatment algorithm, there are many different ointments present in the market. The burn ointment market is slated to witness growth in the forecast period of 2024-2030 owing to the rise in burn injuries.

The rising prevalence of burn injuries is expected to grow the burn ointment market. As per WHO 2018 statistics, an estimated 180,000 deaths are caused by burns every year globally, and the vast majority occur in low and middle-income countries. Notably, worldwide, 70% of all burns occur in low and middle-income countries. Furthermore, over two-thirds of all burns occur in African and South-East Asian regions.

Apart from the rising prevalence of burn rate, the advancement in technology, research, and development in the burn ointment arena has led to the growth of the market. For example, Molnlycke's Mepilex AG is reviewed at Wounds International 2022 for its usage in the management of partial thickness burns.

With the advancement in technology, new products are being launched in the global market. For instance, in April 2020, Wisconsin Pharmacal Company announced the launch of a novel cooling burn spray under its MG217 first aid skincare brand. The new MG217 cooling burn spray combined maximum strength Lidocaine with aloe vera to provide fast and soothing topical pain relief from minor burns. Furthermore, rising awareness around wound care management with blaze injuries by governmental and private institutions is creating a positive impact on the growth of the burn ointment market. In December 2018, China launched a program in Egypt for burns treatment under the UN initiative.

Another factor that is contributing to the growing market of burn ointment is the favorable reimbursement policies. In many developed nations, such as the US, Medicaid reimbursement for burn injuries is high.

Therefore, owing to the above-mentioned factors the market for burn ointment is expected to grow during the forecast period from 2024-2030.

The COVID-19 pandemic has adversely affected the growth of the burn ointment market as the outbreak has led to a decline in the number of patients visiting burn care centers. Additionally, major players thus, have reduced their overall expenditure on the research and development of new products in the burn ointment market. The logistics and supply chain have also been hit due to the COVID-19 outbreak. It is expected that market players, to resume their growth in the market, will come up with a new solution to address the current scenario of the burn ointment market.

Nevertheless, there are a few market restraints too which will impact the market growth during the forecast period from 2024-2030. Barriers like side effects associated with burn ointments and usage of natural or home remedies to treat burn casualties are expected to hinder the growth of the burn ointment market during the forecast period from 2024-2030.

Burn Ointment Market Segment Analysis:

Burn Ointment Market by Product Type (Topical Antibiotics, Silver-Based, Iodine-Based, and Others), by Degree (First Degree, Second Degree, and Third Degree), by End User (Hospital and Clinics, Specialty Burn Centers, and Others), Geography (North America, Europe, Asia-Pacific, and Rest of the World)

Based on the degree type segment of the burn ointment market, the first degree is expected to account for the largest market share in the base year 2022. This can be ascribed to more patients with first-degree burns when compared to other degrees.

First-degree burns affect only the top layer of the skin due to reasons like touching a hot stove, hot water injury, and even sunburn. Often kids are most affected by first-degree burns. As per WHO 2018 data, the rate of child deaths from burns is currently over 7 times higher in low and middle-income countries than in high-income countries.

As per a research study, 72% of all burn cases in the US happen as a result of exposure to fire or hot liquid accounting for the first degree of burns. Often these first-degree burns are easily cured by burn ointment markets at home. Therefore, the market consumption of burn ointments is high for first-degree burns.

Thus as per the factors mentioned above, first-degree burns are the major shareholding sector in the burn ointment market.

North America is expected to dominate the overall Burn Ointment Market:

Among all the regions, North America is expected to lead in revenue generation in the global burn ointment market. This can be ascribed to the increasing prevalence of burn cases in the region, well-established healthcare infrastructure, and aware masses of burn treatment. Moreover, the majority of key players in the burn ointment market are present in the North American region thus making the region dominate the market share.

One of the key factors supporting the growth of the North American burn ointment market is the high prevalence rate of burn cases across the region. According to the American Burn Association 2020, every year over 450,000 serious burn injuries occur in the US that requires medical treatment. The National Burn Repository 2019 of the US states that flame burns continue to be the most common type of injury in the US with 41% cases while chemical burn injuries and electrical burn injuries are less common.

Furthermore, over 45,000 burn injuries occur in Canada each year, with about 2000 patients requiring hospitalization.

However, as per ABA, the vast majority of these injuries were preventable. Therefore, there is various awareness program being run in the region for educating the masses. Educating people on proper burn care leads to growth in the burn ointment market as people tend to purchase more and keep burn ointments in their first aid kits.

Furthermore, another factor that is contributing to the dominant market share is the presence of many key players in the region.

Burn Ointment Market Key Players:

Some of the key market players operating in the burn ointment market include Johnson & Johnson, Mankind Pharma, Perrigo Company PLC, Pfizer Inc., Smith & Nephew PLC, Sun Pharmaceutical Industries Ltd, Trio Lifescience Pvt. Ltd, 3M, Cardinal Health, Cipla Limited, ConvaTec Group PLC, DeRoyal Industries Inc., Dr.Morepen, GlaxoSmithKline PLC, Integra LifeSciences, Wisconsin Pharmacal Company, and others.

Recent Developmental Activities in the Burn Ointment Market:

In April 2022, the Hospices Civils de Lyon sponsored a clinical trial that examined the use of silver sulphadiazine as an ointment for treating second-degree burns.

In April 2020, Wisconsin Pharmacal Company announced the launch of a novel cooling burn spray under its MG217 first aid skincare brand. The new MG217 cooling burn spray combined maximum strength Lidocaine with aloe vera to provide fast and soothing topical pain relief from minor burns.

Key Takeaways from the Burn Ointment Market Report Study

• Market size analysis for current burn ointment market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the burn ointment market.
• Top key product developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global burn ointment market.
• Various opportunities were available for the other competitor in the burn ointment market space.
• What are the top-performing segments in 2023? How these segments will perform in 2027?
• Which are the top-performing regions and countries in the current burn ointment market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for burn ointment market growth in the coming future?

Target Audience who can be benefited from this Burn Ointment Market Report Study

• Burn ointment products providers
• Research organizations and consulting companies
• Burn ointment-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Burn ointment
• Various distribution channels to know more about the burn ointment market and the latest product innovations in the burn ointment market.

Frequently Asked Questions for the Burn Ointment Market:

1. What is Burn Ointment?

Burn creams or ointments are used to treat injuries caused by burns such as chemical, electric, or sunburn. Burns can cause minor medical issues as well as life-threatening emergencies. Burn ointment is a topical medication that is applied to the burnt area of the body.

2. What is the market for global Burn Ointment?

The global burn ointment market will grow at a CAGR of 5.4% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Burn Ointment market?

The burn ointment market is estimated to witness prosperity owing to the reason that there is a rising prevalence of burn-related injuries and significant advances being made in the area of burn care. Furthermore, with favorable reimbursement policies, the burn ointment market is expected to grow at an appreciable revenue growth during the forecast period (2024-2030).

4. Who are the key players operating in the global Burn Ointment market?

Some of the key market players operating in the burn ointment market include Johnson & Johnson, Mankind Pharma, Perrigo Company PLC, Pfizer Inc., Smith & Nephew PLC, Sun Pharmaceutical Industries Ltd, Trio Lifescience Pvt. Ltd, 3M, Cardinal Health, Cipla Limited, ConvaTec Group PLC, DeRoyal Industries Inc., Dr.Morepen, GlaxoSmithKline PLC, Integra LifeSciences, Wisconsin Pharmacal Company, and others.

5. Which region has the highest share in the Burn Ointment market?

Among all the regions, North America is expected to lead in revenue generation in the global burn ointment market. This can be ascribed to the increasing prevalence of burn cases in the region, well-established healthcare infrastructure, and aware masses of burn treatment. Moreover, the majority of key players in the burn ointment market are present in the North American region thus making the region dominate the market share.