Burn Ointment Market

Global Burn Ointment Market Size (2023 to 2028)

The global burn ointment market is anticipated to be worth USD 1.72 billion by 2028 from USD 1.29 billion in 2023, growing at a CAGR of 5.88% from 2023 to 2028.

MARKET DRIVERS:

The growing number of burn cases and increasing awareness regarding treatment options primarily drive the burn ointment market. Burn injuries are a worldwide health problem. According to WHO, more than 320 million acute, traumatic, and burn wounds were recorded and treated globally in 2022 and it is expected to increase further. WHO also reported that up to 3% of the population across developed countries suffer from chronic wounds every year. Burn injuries are a major cause of morbidity and mortality across the globe. As burn injuries rapidly rise, there is increasing demand for burn-care products such as burn ointments. As per the report published by WHO, an estimated 1,88,000 deaths are caused by burns every year globally in 2022 and 65% of all burns globally arise in low and middle-income countries.

The growing demand for efficient and secure burn care products further promotes burn ointment market growth. The burn-ointment is applied majorly to first and second-degree burns to help with pain management and healing, inflammation control, as after pandemic people are more health conscious, also more aware of the potential side-effects of specific medications, there is rapidly rising demand for burn ointment due to their efficacy and safety.

The rapidly rising incidence of chronic wounds such as venous ulcers, pressure ulcers and diabetic foot contribute to the growth of the burn ointment market. According to the statistics published by National Institute of Health, an estimated 35 million suffer from chronic wounds. These types of wounds are frequently treated with burn ointments as they rapidly heal and help to prevent infection. The demand for burn ointment products is further driven by the increasing preference and search from the medical professionals for more efficient and secure burn treatment products for the people they treat.

Factors such as growing efforts from the key market participants on the development of novel and innovative burn-ointment products, technological advancements, increasing research and development activities, rising prevalence of burn rate, and rising awareness around wound care management, favorable reimbursement policies, growing consumer awareness boost the growth rate of the burn ointment market.

MARKET RESTRAINTS:

Limited effectiveness of some ointments in severe burn cases, lack of access to quality healthcare in certain regions and delayed treatment seeking leading to complications primarily hampers the market growth. Allergic reactions and skin sensitivities to certain ointment ingredients, poor awareness about appropriate burn care, inadequate infrastructure for burn treatment in low-resource settings and the availability of substandard or counterfeit burn ointments further impede the market growth. High cost of advanced burn ointment formulations, regulatory hurdles and challenges in product approval and limited research on optimized burn wound healing formulations hinder the growth of the burn ointment market. The side-effects associated with burn-ointment and the usage of natural remedies to treat burn do not completely remove the burn scar, as a result, this element will have an impact on market expansion. The side effects associated with burnt ointment such as skin necrosis, itchy skin, and redness are expected to majorly hamper the market growth during the projected period.

Impact of COVID-19 on the global burn ointment Market:

The COVID-19 pandemic crisis has had a detrimental impact on the global burn ointment market, which has led to a decrease in the number of patients seeking the burn-related medical care that is required. Due to social isolation, lockdown, and strict restrictions imposed by the governments of several countries, the market participants of the global burn ointment market have cut back on the costs associated with the research and development of new products. This has shown a negative impact on the market growth. The COVID-19 pandemic resulted in a major disruption in the supply chain and hampered the export and import activities of pharmaceutical goods and this has an unfavorable impact on the market growth. The COVID-19 pandemic resulted in a decrease in the number of patients seeking medical help for burns and the disruption of the supply chain have significantly reduced the demand for burn care products during the COVID-19 pandemic timeline. However, the market is expected to recover quickly from the COVID-19 pandemic and showcase healthy growth during the forecast period.

REPORT COVERAGE:

This research report on global burn ointment market has been segmented and sub-segmented based on the following categories.

Burn Ointment Market – By Product:

• Topical antibiotics
• Silver
• Iodine
• Others

Based on the product, the topical antibodies segment led the market in 2022 and is expected to continue the domination in the global market throughout the forecast period. Factors such as the high prevalence of burn-related infections, established efficacy of topical antibiotics in preventing infections and the consistent inclusion in burn wound care protocols majorly drive the growth of the topical antibodies segment in the global market. The availability of various antibiotic formulations catering to different burn severities and rising clinician preference for prophylactic measures against infections further fuel the growth rate of the topical antibodies segment.

On the other hand, the silver segment is anticipated to account for a considerable share of the global market in the coming years. The broad-spectrum antimicrobial activity of silver burn ointments, the availability of various silver-based formulations for burn care and increasing preference of clinicians for advanced wound care with proven results drive the segmental growth.

Burn Ointment Market - By Depth of Burn:

• Minor Burn
• Partial thickness Burn
• Full thickness Burn

Based on the depth of burn, the minor burn segment dominated the market and is expected to account for the major share of the global market during the forecast period. Minor burns are shallow and only harm the skin's top layer. Minor burns are defined as those that cover a fraction of 9.0% of the entire body surface area (TBSA). The National Centre for Injury Prevention and Management estimates that 1.6 million Americans are impacted by burn-related injuries each year. Factors such as the growing incidence of minor burns from household accidents and cooking mishaps, easy accessibility and affordability of over-the-counter minor burn ointments and growing consumer demand for quick relief and minimal scarring from minor burns propel the growth of the minor burn segment in the global market.

The partial thickness burn segment is predicted to grow at the fastest CAGR during the forecast period. Thickness burns are those that cover more than 10.0% of the total body surface area (TBSA) but less than 30%. Skin's dermis and epidermis are both impacted by partial wounds. These kinds of burns should be thoroughly managed in collaboration with a healthcare provider because they are severe and pose a significant risk of recurrence. The U.S. FDA estimates that 45,000 persons are admitted to hospitals each year as a result of severe burns. The growing prevalence of partial thickness burns from scalds, flames, and contact with hot surfaces, rising need for pain relief, wound protection, and prevention of infection and the availability of various ointments catering to different burn depths drive the segmental growth in the global market.

Burn Ointment Market – By Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

Based on the distribution channel, the online pharmacies segment is anticipated to gain prominence and account for a notable share of the global market during the forecast period. The COVID-19 pandemic situation strengthened the digital commerce platform, which sustained the rapid growth of online pharmacies.

The hospital pharmacies segment is one of the leading segments in the global market and is expected to hold a substantial share of the worldwide market in the coming years owing to the increasing number of collaborations with healthcare professionals for tailored burn care recommendations and the availability of a wide range of burn treatment options in hospital settings.

Burn Ointment Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

The North-American region accounted for the largest share of the global market in 2022 and the domination of the North American region is expected to continue throughout the forecast period in the global market. The rising incidence of burns and rising awareness regarding various treatment options for burn wounds are expected to fuel the demand for blaze-wound ointment in the region, also the presence of key-player, and more focus on strategic initiatives such as launches of new products are major drivers boosting the growth of the market in this region.

The Asia-Pacific region is the second-largest region expected to dominate the market at the fastest CAGR during the projected period. The rising incidence of blaze-wounds, rising incidence of burn injuries, and demand for burn ointment in developing countries such as China, and India are expected to rise as the burn case rises, growing government initiative in this region are expected to propel the growth of the market in this region.

Europe is another region expected to dominate the market at a healthy CAGR during the projected period. As there are rapidly rising incidence of burn injuries from fires, rising awareness of the significance of burn-care, this factor helps to boost the market growth in this region.

Latin America is another region expected to dominate the market at a healthy CAGR during the projected period. The region's burn ointment market is expanding and developing as a result of factors including the high incidence of burns, expanding healthcare facilities, growing customer awareness, government programs, technical improvements, and the existence of local producers.

The Middle East and Africa regions are also expected to dominate the market at a significant CAGR during the projected period. The market for burn ointments in the MEA region is expanding and developing as a result of a significant number of burn injuries, expanding healthcare infrastructure, government efforts, and developments in technology, emphasis on trauma care and urgent care, and development in healthcare spending.

KEY MARKET PLAYERS:

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 are some of the noteworthy companies in the global burn ointment market.

RECENT HAPPENINGS IN THE MARKET:

• In April 2022, a clinical experiment involving silver sulphadiazine as an ointment to treat second-degree burns was sponsored by the Hospices Civils de Lyon.
• In May 2022, in Wound International 2022, Molncyke Healthcare published clinical data supporting the application of Mediplex Ag in the treatment of partial thickness burns. The Mediplex's soft silicone wound contact layer, which is intended to lessen peri-wound trauma and accompanying suffering, helped the burns recover.