Global Burn Care Market: Overview
Burn is an injury to skin or tissue caused due to heat, radiation, electricity, or chemicals. In most cases, hot liquids and fire are the common causes of burn, besides which alcoholism, smoking, and violence between people may also lead to burn injuries. These wounds are preventable only if few precautions are followed. While superficial burns can be managed by simple pain medications, major burns require prolonged treatment in specialized burn-care centers.
Depending on product, the global burn care market can be segmented into traditional burn care, biologics, advanced burn care, and others. Among these, the demand for advanced burn care products is expected to rise at a higher pace. Based on depth of burn, the market is expected to witness maximum demand in the partial-thickness burns segment. Other segments covered under this parameter are minor and full-thickness burns. In terms of end user, physician clinics, hospitals, and home care could be the key market segments.
The report provides an in-depth assessment of the aforementioned segments and studies in detail various factors influencing their trajectory. It covers the growth drivers, key hindrances, and opportunities that existing players can benefit from in the coming years. Besides this, the report also evaluates investment feasibility for new entrants, thereby covering a comprehensive market overview.
Global Burn Care Market: Trends and Opportunities
The increasing incidence of burn cases is the primary factor driving the global burn care market. The market is also gaining from the rising willingness among people to spend on advanced care especially in case of patients with burns. As governments take initiatives to spread awareness regarding burn care, it will foster growth to the global burn care market. Besides this, the market will also gain from the rising awareness among people about the available burn care and treatment options. However, high cost associated with treatments for burn care may hinder the market to an extent. Nevertheless, with technological advances on cards, very soon these costs are expected to come down, making these treatments more accessible to common man, thus bolstering market opportunities.
Global Burn Care Market: Regional Outlook
Growth witnessed in North America is expected to be higher than other regional markets. The high demand for skin grafts and substitutes witnessed in the region will aid the growth of the burn care market in the region. Besides this, the U.S. will play a significant role in augmenting the North America burn care market. The market will also witness significant opportunities in Asia Pacific. Growth in advanced dressings will further help Asia Pacific to emerge as a niche market for burn care in the coming years.
Global Burn Care Market: Vendor Landscape
Coloplast A/S, Smith & Nephew plc, Derma Sciences, Inc., Medtronic, Acelity L.P., 3M Company, and Mölnlycke Health Care are among the leading players in the global burn care market. Their policies and marketing strategies have significant impact on the global burn care market, which is why the report includes results of SWOT analysis conducted on them. The analysis was intended at identifying their core strengths and weaknesses. It also revealed a few threats and opportunities that could have an impact on their overall operations.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.