Portland, OR, May 13, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Burn Care Market generated $1.99 billion in 2019, and is estimated to reach $3.13 billion by 2027, registering a CAGR of 5.6% from 2020 to 2027. The report offers an extensive analysis of the changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Growing demand for skin grafts & its substitutes, technological advancements in burn care products, surge in incidences of burn injuries, and increase in awareness among patients toward burn care treatment & management drive the growth of the global burn care market. However, higher cost of advanced burn care products hinders the market growth. On the other hand, technological advancements in burn care products create new opportunities in the coming years.
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Covid-19 scenario:
- Due to lockdown in several countries, the supply of raw materials required to manufacture burn care products is likely to get hampered. Therefore, it would affect the production and demand for burn care products during the forecast period.
- The revenue generated from hospital segment is likely to experience a steep decline, as doctors involved in the treatment of burn injuries are now being redeployed for treating COVID-19 patients.
- The COVID-19 pandemic is receding slowly in countries such as China and India and governments are now lifting the lockdown to start industrial productions. This is likely to be a good opportunity for several advanced burn care products manufacturers to get back to their business.
The report offers a detailed segmentation of the global burn care market based on product, depth of burn, end-user and region.
Based on product, the advanced burn care segment contributed to the largest share in 2019, accounting for more than two-fifth of the total share, and is estimated to maintain its dominant position during the forecast period. In addition, it is also estimated to portray the highest CAGR of 6.4% during the forecast period.
Based on end-user, the hospital segment accounted for the largest share in 2019, holding more than two-fifths of the total share, and is expected to maintain the largest share throughout the forecast period. However, the home care segment is expected to register the highest CAGR of 6.8% from 2020 to 2027.
Based on region, North America contributed to the highest share, accounting for around two-fifth of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 7.5% from 2020 to 2027.
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Leading market players analyzed in the research include B Braun Melsungen AG, 3M, ConvaTec Group Plc, Coloplast A/S, Integra Lifesciences, Essity AB, Medline Industries, Inc., Investor AB, Smith & Nephew Plc, and Medtronic Plc.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.