BURN OINTMENT MARKET ANALYSIS

The Global Burn Ointment Market is estimated to be valued at US$ 1,030.5 Mn in 2023 and is expected to exhibit a CAGR of 6.1% during the forecast period (2023-2030).

Analysts’ Views on the Global Burn Ointment Market:

The rising number of patients with burn injuries is expected to drive the market growth over the forecast period. Furthermore, increasing product approvals, product launches, and agreements are also driving the growth of the global burn ointment market. As a result, this gives various manufacturers the chance to offer different burn ointments to cure the injury caused by the burn.

Figure 1. Global Burn Ointment Market Share (%), By Product Type, 2023

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Global Burn Ointment Market - Drivers

• Increasing prevalence of burns: The increasing prevalence of burn cases in countries, such as China, is expected to drive the market growth over the forecast period. For instance, according an article published in September 2022, in Burns & Trauma, an open access journal, the epidemiology of burns in Mainland China was studied. According to the study, the number of burn patients in Mainland China from 2009 to 2018 was 222,480.
• Increasing research and development activities: Increasing research and development activities regarding various treatments that use ointments for burn injuries by research organizations are also expected to boost the global burn ointment market growth over the forecast period. For instance, in January 2023, Hospices Civils de Lyon, a France-based hospital, initiated a study for the evaluation of a management strategy for second-degree fibrinous burns using silver sulphadiazine ointment. The study is expected to be completed by January 2026.

Figure 2. Global Burn Ointment Market Share (%), By Region, 2023

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Global Burn Ointment Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global burn ointment market over the forecast period. North America is estimated to hold 40% of the market share in 2023. The increasing number of awareness programs for burns and burn safety in the North America region is expected to boost the market growth. For instance, in February 2022, the American Burn Association celebrated Nation National Burn Awareness Week from February 6, 2022  to February 12, 2022. The fire and life safety educators in the U.S. united and shared common burn awareness and prevention messages in communities.

Global Burn Ointment Market - Impact of Coronavirus (COVID-19) Pandemic

• Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.
• COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, the U.A.E., Egypt, and others, faced problems regarding transportation of medical products from one place to another.
• Thus, the COVID-19 pandemic negatively impacted the global burn ointment market as, the decrease in patients visiting to hospitals for the treatment of burn injury was found. For instance, according to an article published by the International Society for Burn Injuries, in September 2022, an observational study was performed to investigate whether the standard of burn care changed globally during the COVID-19 pandemic. The survey was completed by 234 burn units in 43 countries. According to the results found by the study, the majority of burn units remained operational during the pandemic despite a global decline in the supply of common materials and patient visits was found. As a result reduced access to burn care was observed.

Global Burn Ointment Market Segmentation:

The global burn ointment market is segmented based on product type, depth of burn, end user, and region.

• By product type, the market is segmented into topical antibiotics, silver, and iodine. Out of which, the topical antibiotics segment is expected to hold a dominant position in the global burn ointment market during the forecast period owing to increasing product access by end users and patients.
• By depth of burn, the market is segmented into minor burns, partial thickness burns, and full thickness burns. Out of which, the minor burns segment is expected to dominate the market over the forecast period due to increasing cases of minor burns.
• By end user, the market is segmented into hospitals, specialty clinics, and others. Out of which, the hospitals segment is expected to dominate the market over the forecast period.
• By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Out of which, the North America region is expected to dominate the market, and this is attributed to the increasing number of product launches and product approvals by regulatory authorities operating in the region.
• Among all the segmentation, the topical antibiotics segment is expected to dominate the market over the forecast period due to increasing product approvals by regulatory authorities.

Global Burn Ointment Market - Cross Sectional Analysis:

In the product type segment, the topical antibiotics segment is expected to dominate the market in the North America region as key market players, such as Pfizer, Mankind Pharma Ltd, and others, are offering topical antibiotic ointments for burns in the North America region.         

Global Burn Ointment Market: Key Developments

In August 2022, MediWound, a pharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) has accepted Biologics License Application (BLA) for the company’s NexoBrid, a cream used in the treatment of burns.

Global Burn Ointment Market: Trends

• Increasing number of research and development activities: The increasing number of research and development activities regarding burn ointments is expected to drive the market growth over the forecast period. For instance, according to an article published in Wolters Kluwer, a publishing company, a total of 669 burn patients in the U.S. were treated using 5% mafenide solution, a topical antibiotic agent. Among which, only 1% of patients reported severe pain enough to stop receiving treatment.

Global Burn Ointment Market: Restraint

Side effects associated with burn ointments: Side effects associated with burn ointment, such as Burnol Povidone Ointment, can hinder the growth of the global burn ointment market. The side effects of Burnol Povidone Ointment include burning, irritation, itching, and redness.

Global Burn Ointment Market - Key Players

The major players operating in the global burn ointment market includes Smith & Nephew PLC, Wisconsin Pharmacal Company, Johnson & Johnson, Pfizer Inc., Cipla Ltd., Mankind Pharma Ltd., Dr. Morepen Ltd., GlaxoSmithKline PLC. and MediWound

Definition: A burn ointment is a topical treatment that is applied to the burnt part of the body. Antibiotic creams and ointments are applied topically to help prevent infections.