The rising incidence of burn injuries is likely to fuel the growth of the worldwide burn ointment market over the forecast period. Throughout the projected period, the increasing number of research and development efforts for topical therapies for burn wounds is likely to help in the expansion of the worldwide burn ointment market. Throughout the projected period, clinical studies for the launch of new enhanced products are likely to fuel the worldwide burn ointment market growth. The impact of the coronavirus (COVID-19) pandemic is predicted to hinder worldwide burn ointment growth. Due to a decrease in the availability of healthcare items, a fall in the number of patients seeking medical attention for burns during the pandemic, and patients choosing home treatments for burn treatment.
According to Coherent Market Insights, the global Burn Ointment Market is estimated to be valued at US$ 915.7 Mn in 2021, and is expected to exhibit a CAGR of 6.1 % over the forecast period (2021-2028).
Leading Companies in the Burn Ointment Industry:
1. Smith & Nephew PLC
Smith & Nephew plc, together with its subsidiaries, develops, manufactures, markets, and sells medical devices worldwide. Smith & Nephew plc was founded in 1856 and is headquartered in Watford, the United Kingdom. On January 2022, Smith+Nephew acquired novel cementless partial knee system. This acquisition strongly supports Smith+Nephew’s strategy for growth by transforming its business through innovation and acquisition, while also providing differentiation for its customers
2. Wisconsin Pharmacal Company
Wisconsin Pharmacal Company is a consumer goods supplier located in Wisconsin. The company was founded in 1896, headquartered in Mississippi U.S.
3. Johnson & Johnson
Johnson & Johnson, together with its subsidiaries, researches, develops, manufactures, and sells various products in the healthcare field worldwide. The company was founded in 1886 and is based in New Brunswick, New Jersey.