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
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.
Burn Ointment Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 1,030.5 Mn |
Historical Data for: | 2018 to 2022 | Forecast Period: | 2023 to 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.1% | 2030 Value Projection: | US$ 1,557.9 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Smith & Nephew PLC, Wisconsin Pharmacal Company, Johnson & Johnson, Pfizer Inc., Cipla Ltd., Mankind Pharma Ltd., Dr. Morepen Ltd., GlaxoSmithKline PLC and MediWound |
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Growth Drivers: |
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Restraints & Challenges: |
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Global Burn Ointment Market - Impact of Coronavirus (COVID-19) Pandemic
Global Burn Ointment Market Segmentation:
The global burn ointment market is segmented based on product type, depth of burn, end user, and region.
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
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.
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About Author
Vipul Patil is a dynamic management consultant with 6 years of dedicated experience in the pharmaceutical industry. Known for his analytical acumen and strategic insight, Vipul has successfully partnered with pharmaceutical companies to enhance operational efficiency, cross broader expansion, and navigate the complexities of distribution in markets with high revenue potential.
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