According to the report North America Burn Care Industry, published by Market Data Forecast, The Industry was worth $ 0.63 Billion in 2016 and estimated to reach $ 0.816 Billion by the end of 2021 with a growing potential of 6.5%.
Most companies focuses on expanding its existence in the burn care product Industry by investing strategically in research and development activities, which enables them to launch new products in the Industry to have a competitive advantage. The main strategies followed by most companies in the burn care Industry are new product launches, Collaborations, acquisitions, and expansions. The strategy of new product launches accounted for the largest share of the overall growth strategies mapped from 2016 to 2021.
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The Major factors that influence the growth of the Industry is rise in the incidence of burns i.e. over 1 million burn injuries were noticed annually in U.S, growing Healthcare expenditure results in increasing usage of skin grafts and advanced dressings, favourable government initiatives, increasing awareness in treatment options owing to increasing number emergency burn clinics. However, high cost of burn care treatments and developing of new products are the major factors that are challenging the growth of the Industry.
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The North America specific Burn Care Industry is majorly categorized into Products (Advanced dressings, Biologics, Traditional). Among these advanced dressings is predicted to have the largest share in the Industry while the biologics is predicted to witness the highest CAGR during the forecast period. Increasing demand for Biologics in U.S are driving the growth in North America. Extent of damage (Minor, Partial Thickness, deep thickness burn). The partial thickness burns is expected to witness the highest share of Industry due to increasing usage of biologics in U.S. End users (Hospitals, Clinics and Home care). Among these Hospitals usage is projected to witness highest CAGR over the forecast period, owing to increasing awareness in treatment options. The North America burn Industry is analyzed under various regions namely U.S, Canada.
Some of the major companies influencing the burn care Industry in North America, by their products and services include Smith & Nephew plc (U.K.), Acelity L.P (U.S.), 3M Company (U.S.), Molnlycke Health Care (Sweden), Derma Sciences Inc.(U.S.), Medtronic (Ireland), Coloplast A/S (Denmark), ConvatecInc (U.K.).
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Key Points from Table of Contents
Overview
- Executive Summary
- Key Inferences
- New Developments
Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
North America Burn Care Industry: Segmentation
- By Product Type
- Advanced
- Biologics
- Traditional
- By Extent of damage
- Minor
- Superficial Partial Thickness Burn
- Deep Thickness Burn
- by End Users
- Hospitals
- Clinics
- Home care
Geographical Analysis
- United States
- Canada
Strategic Analysis
- PESTLE analysis
- Porter’s Five analysis
Industry Leaders’ Analysis
Competitive Landscape
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