Burn Ointment Market - Growth, Trends, COVID-19 Impact, and Forecasts

Burn Ointment Market - Growth, Trends, COVID-19 Impact, and Forecasts

The burn ointment market is expected to register a CAGR of 5.95% during the forecast period.

The current COVID-19 outbreak has negatively affected the growth of the market. The outbreak has led to a decline in the number of patients seeking medical help for burns. In addition, the industry players have also reduced their overall expenditure on the research and development of new products in this market. The supply chain has also been disrupted, as various countries are only allowing the import and export of essential medications. It is expected that market players, in order to resume their growth in the market, will come up with a new solution to address the current scenario.

The major factors driving the growth of the market include rising incidences of burns and increasing awareness regarding treatment options. Burn injuries are a global health problem. According to the World Health Organization (WHO), in 2019, more than 305 million acute, traumatic, and burn wounds were recorded and treated worldwide, and it is expected to increase further. WHO also suggested that up to 2% of the population across the developed countries suffer from chronic wounds every year.​

An article titled “Burn Injury” published in the journal of Nature reviews Disease primers in February 2020 indicated that though the number of burn injuries has been decreasing in the developed nations, the risks of burn injuries are still a major concern in the low- and middle-income countries, with the number of cases rising over the years.

Furthermore, the increasing awareness among people regarding various treatment options related to burns is also a key factor driving the market over the forecast period. Owing to the increased awareness, the overall healthcare expenditure on burn care is also increasing. The market is also growing due to the increasing willingness among people to spend more and opt for new advanced blaze wound care products, especially in the case of patients affected with burns. Apart from this, public and private organizations are also running training and awareness programs to further advance the treatment options. For instance, in February 2022, American Burn Association conducted the National Burn Awareness Week to mobilize burn, fire and life safety educators to unite in sharing a common burn awareness and prevention message in our communities.

Thus, the above-mentioned factors are expected to drive the market growth over the forecast period. However, the side effects associated with burnt ointments, such as skin necrosis, itchy skin, redness, etc., are expected to be the major restraining factor for the market.

Key Market TrendsThe Topical Antibiotics Segment is Expected to Hold a Significant Market Share Over the Forecast Period

In terms of product type, the market is segmented into topical antibiotics, silver, and iodine. The topical antibiotics segment is expected to hold a significant market share during the forecast period.

The major factors propelling the growth of this segment include the high acceptance of burn ointment products in home-care settings and the rising incidence of burns across the globe. Mafenide acetate, Bacitracin, Mupirocin, Neosporin, Polymyxin B, Nitrofurazone, and Nystatin are the widely accepted topical antibiotic burn ointments.

An article titled “Burn Ointment Promotes Cutaneous Wound Healing by Modulating the PI3K/AKT/mTOR Signaling Pathway” published in the journal of Frontiers in Pharmacology in March 2021 indicated that Chinese medicine compound burn ointment offers a more advanced alternative medication that limits scar formation. The ointment accelerates wound healing through PI3K/AKT/mTOR signaling pathway and increase the key cytokines VEGF and TGF-β1 to further help tissue recovery.

The management of initial burns with an ointment is usually considered effective and is preferred even with dressing or other treatments. Thus, the above-mentioned factors are expected to drive the market growth over the forecast period.

The North American Region is Expected to Hold a Major Market Share Over the Forecast Period

In the North American region, the United States is expected to hold a major market share due to well-established healthcare infrastructure and the rising incidence of burns.

For instance, as per the Fire and Burn Prevention: 2021 Resource Guide published in May 2021, over 100,000 are admitted to a hospital or treated in an emergency department owing to fire or burn injuries each year. Also, fires and burns were the fifth leading cause of unintentional injury-related deaths to children ages 1-19 in the United States. A high incidence of burns is likely to drive the demand for burn ointments. In addition, the presence of key players in this region that are focusing on planned initiatives like the launch of new products and mergers and acquisitions is helping the market grow. Thus, owing to the above-mentioned factors, the burn ointment market in the United States is expected to be one of the largest markets and grow in the future.

Asia-Pacific also presents lucrative opportunities in the current scenario for the key players operating in the burn ointment market due to increased patient awareness toward burn care treatment and management, increase in the number of hospitals, development of the R&D sector, rise in healthcare reforms, and increase in the target population in emerging economies.

Competitive Landscape

The burn ointment market is moderately competitive. The market players are committed to developing innovative healing solutions for customers and patients across the care continuum, generating proven clinical outcomes. The companies are also showing continuous growth and are developing new and differentiated products, which address the evolving healthcare needs among patients. Some of the market players include Johnson & Johnson, Mankind Pharma, Pfizer Inc., Dr.Morepen, Smith & Nephew PLC, and others.

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