The global burn ointment market size is expected to reach USD 1.3 billion by 2027, expanding at a CAGR of 6.1%, according to a new report by Grand View Research, Inc. Rising cases of blaze wounds, technological advancements, and increasing awareness regarding various treatment options are the key factors driving the market.
Favorable
government initiatives such as reimbursement policies which cover almost
70.0-100.0% of the treatment cost urge the patient to opt for advanced wound
care treatment. The presence of government organizations such as the World
Health Organization (WHO) and non-profit organizations like the American Burn
Association (ABA) also contribute towards increasing awareness levels. The WHO
has been collaboratively working with The International Society for Burn
Injuries and other such organizations to develop strategies to improve wound
care and prevention of blaze wounds globally. Furthermore, the presence of
non-profit organizations such as the British Burn Association and the Canadian
Association of Burn Nurses, which aim towards providing and propagating
knowledge on best treatment and rehabilitation following a blaze wound is also
increasing the awareness levels regarding wound care and treatment among people.
Increasing
incidences of blaze wounds are anticipated to fuel the demand for
cost-effective treatment over the forecast period. As per WHO, 96.0% of fatal
fire-related wounds occur in low to middle-income countries. According to the
data published by WHO, on an average 265,000 deaths are caused by blaze wounds
every year. Such factors are anticipated to boost the market growth.
Full Research Report On Burn Ointment Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/burn-ointment-market
Burn Ointment
Market Report HIghlights
- On the basis
of product, topical antibiotics held the largest market share in 2019 as
these ointments are used for every kind of blaze wound
- The minor
burn segment held the largest market share in 2019 and is anticipated to
witness significant growth over the forecast period. The growth of the
segment is attributable to the high usage of ointments for minor blaze
wounds as compared to other wounds
- The hospital
segment is anticipated to witness significant growth over the forecast
period owing to the increasing incidence of blaze wounds
- In Asia
Pacific, the market is anticipated to witness the fastest growth over the
forecast period owing to the rising cases of blaze wounds in this region.
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About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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