Burn Ointment Market
A burn occurs when skin tissue is damaged by heat, chemicals, sunlight, electricity, or radiation. The majority of burns are caused due to accidents. There are various degrees of burns- first degree, second degree and third degree burns. First-degree burns are minor (like most sunburns). The top layer of skin (epidermis) turns red and painful, but it usually does not blister. Second-degree burns affect the top and bottom layers of the skin (dermis). Pain, redness, swelling, and blistering are all possible side effects. Third-degree burns affect all three layers of the skin: the epidermis, dermis, and fat.
Burn ointment is a topically administered treatment applied on the burnt area of our body and is available in the form of gels, creams, oils and sprays. After cooling the burn injury with water, burn ointments are applied to heal the burn wounds. The types of ointment used depends upon the severity of burns. For example, some people use aloe vera gel as a home remedy to treat sunburns. While antibiotic creams are used to treat thermal burns. However, for the treatment of second and third degree burns, the healthcare provider may prescribe a stronger antibiotic cream containing silver, such as silver sulfadiazine, to prevent possible bacterial infections.
Market Dynamics
Market players are focused on research and development activities to obtain approvals for new products or techniques associated with burn injuries, which could contribute to the growth of the global burn ointment market over the forecast period. For instance, in Oct 2020, Recce Pharmaceuticals Ltd announced that it has received Human Research Ethics Committee (HREC) approval to begin a Phase I/II clinical trial of its broad-spectrum antibiotic RECCE 327 on patients with infected burn wounds.
Market players are focusing on product launches, which is expected to strengthen their position in the global burn ointment market. For instance, on May 1, 2020, LUMASOL, a new health tech player in the skincare industry, launched its first product lumasol, a broad-spectrum SPF 50 mist with a unique, translucent, and cruelty-free formula that helps prevent sun-related disease such as sunburns and ageing.
Market players are involved in expanding their global presence by adopting strategies such as acquisitions and partnerships, this is expected to drive the growth of the global burn ointment market globally. For instance, in May 2019, Vericel Corp., an American biopharmaceutical company announced an exclusive U.S. licensing and supply agreement with MediWound Ltd., a fully-integrated biopharmaceutical company for its NexoBrid biological product.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 35 market data tables and 31 figures on “Global Burn Ointment Market”-Global forecast to 2030
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