Burn Ointment Market size was valued at US$ 971.87 Mn. in 2022 and the total revenue is expected to grow at a CAGR of 6.1% through 2023 to 2029, reaching nearly US$ 1471.01 Mn.
Burn Ointment Market Overview:
The goal of this research is to provide an overview of the Burn Ointment market as well as detailed market segmentation based on connection type, end-use, and geography. The study contains critical information on the market positions of the leading Burn Ointment players, as well as noteworthy industry trends and opportunities.
The analysis also focuses on the Global Burn Ointment market's key top industry players, providing information such as company biographies, product pictures and specifications, capacity, production, price, cost, revenue, and contact information. This study examines the Burn Ointment Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This report analyses the entire Burn Ointment Market Size from a global perspective by analyzing historical data and prospects.
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Market Scope:
The report also focuses on the leading industry players in the Global Burn Ointment market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
Dynamics:
The industry is progressing because burns are getting more prevalent and because individuals are becoming more informed about their treatment options. The World Health Organisation (WHO) reported that on average, burns result in 265,000 fatalities worldwide each year. The majority of these fatalities take place in low- to middle-income nations, with Southeast Asia being the region where 50% of all fatalities take place. Additionally, 173,000 children in Bangladesh and around 1,000,000 people in India suffer moderate to severe burns annually. It went on to say that every year in the United States, there are around 10,000 flame wound victims and 4,500 burn casualties.
Drivers:
Drivers are factors that contribute to the growth and development of a market. In the context of the burn ointment market, several drivers can be identified that influence its expansion and demand. Please note that these drivers are based on information available up to September 2021, and there may have been developments since that time.
Increasing Incidence of Burns: The primary driver for the burn ointment market is the rising incidence of burns, which can result from accidents, household mishaps, industrial incidents, and natural disasters. As urbanization and industrialization continue, the potential for burn injuries also grows, thereby boosting the demand for burn ointments.
Growing Awareness and Healthcare Infrastructure: Improving healthcare infrastructure and increasing awareness about burn care and wound management are driving the demand for effective burn ointments. As people become more conscious of the importance of immediate and proper burn care, the market for specialized ointments is expanding.
Segmentation:
The market is divided into Topical Antibiotics, Silver, Iodine, and Others based on the product. By 2029, the Topical Antibiotics segment is anticipated to have the largest market shares. Growth in this market is being driven by the substantial use of this product in home-care settings and the increased incidence of burn wounds globally. Among the topical antibiotics on the market are Mafenide acetate, Bacitracin, Mupirocin, Neosporin, Polymyxin B, Nitrofurazone, and Nystatin. During the forecast period of 2023–2029, these are the elements that are anticipated to propel the expansion of the Topical Antibiotics segment in the Burn Ointment market.
1 Global Burn Ointment Market, by Product (2022-2029)
Topical Antibiotics
Silver
Iodine
Others
2 Global Burn Ointment Market, by Depth of Burn (2022-2029)
Minor Burns
Partial Thickness Burns
Full Thickness Burns
3 Global Burn Ointment Market, by End-Use (2022-2029)
Hospital
Clinics
Others
Key Players:
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Burn Ointment market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Burn Ointment industry.
1. Johnson & Johnson
2. Sun Pharmaceutical Industries Ltd.
3. Dr.Morepen
4. Smith & Nephew
5. ConvaTec Inc.
6. GlaxoSmithKline PLC (GSK)
7. Pfizer, Inc.
8. Perrigo Company PLC
9. Sun Pharmaceutical Industries Ltd.
10. Cipla Limited
11. Mankind Pharma Ltd.
12. Kinetic Concepts, Inc.
13. Anika Therapeutics
14. B. Braun Melsungen AG
15. Cardinal Health
16. Integra LifeSciences Corporation
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Regional Analysis:
After analysing the political, economic, social, and technological factors affecting the market for aircraft lighting systems in each of the five regions—North America, Europe, Asia Pacific, the Middle East and Africa, and South America—the research also includes an extensive PESTLE analysis for each of the five regions.
COVID-19 Impact Analysis on Burn Ointment Market:
The COVID-19 pandemic has had a profound impact on consumer behaviour across all spheres of society. On the other hand, industries will need to modify their plans to take account of changing market supplies. This study will assist you in developing your company in accordance with the new industry standards by providing an overview of the COVID-19's effects on the market for aircraft lighting systems.
Key Questions Answered in the Burn Ointment Market Report are:
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Which segment emerged as the leading segment in the Burn Ointment market?
Which are the prominent players in the Burn Ointment market?
What will be the Burn Ointment market size by 2027?
Which company held the largest share in the Burn Ointment market?
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