Burn Ointment Market To Surpass US$ 1,384.4 Million By 2028

BURN OINTMENT MARKET ANALYSIS INDUSTRY INSIGHTS, TRENDS, OUTLOOK, AND OPPORTUNITY ANALYSIS, 2020–2027

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REPORT DESCRIPTION Burn Ointment Market - Overview Burns refer to the tissue damage caused by heat, overexposure to sunlight, radiation, as well as due to chemical or electrical contact. Burns can cause minor medical issues as well as life-threatening emergencies. The treatment for burns is determined by the location and severity of the injury. Sunburns and minor scalds are usually treatable at home. However, deep or extensive burns necessitate immediate medical attention.

Some patients require treatment at specialized burn centers as well as months of follow-up care. Burns are classified into three types based on severity- first degree, second degree, and third degree burns.

Burn ointment is a topical medication that is applied to the burnt area of the body.

Antibiotic ointments and creams are used to help in the prevention of infections.

Applying an antibacterial ointment such as Bacitracin or Neosporin, as well as covering the burn with cling film or a sterile, non-fluffy dressing or cloth, aids in the healing of first or second degree burn wounds. In patients with second- and third-degree burns, ointments including silver sulfadiazine cream is used to prevent and treat wound infections.

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REPORT DESCRIPTION Impact of COVID-19 on Demand and Supply of Burn Ointment • The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors including private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions. The COVID-19 pandemic has affected the economy of various regions across the globe in three main ways; 1) by directly affecting the production and demand; 2) by creating disruptions in distribution channels; and 3) through its financial impact on companies and financial markets. Many countries such as Thailand, Indonesia, and Singapore are facing problems with regards to transportation and distribution of healthcare products.

• Thus, impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global burn ointment market during the forecast period, owing to the decrease in the supply of healthcare products, decrease in patients seeking medical attention for burns during pandemic, and patients preferring home remedies for burns treatment. For instance, according to electronic medical record (EMR) data from Epic Health Research Network (EHRN) in the U.S., the decrease in hospital admissions from March 8 to December 5, 2020 accounted for 8.5 percent of the total expected admissions for the entire year. Moreover, according to same source, it was noted that, as COVID-19 cases increased in November 2020, non-COVID19 hospitalizations began to decline. The non-COVID hospitalizations decreased by 80% by the end of the month. This is expected to hamper the growth of global burn ointment market.

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REPORT DESCRIPTION The increasing number of burn injuries is the major factor that is expected to drive the growth of global burn ointment market over the forecast period.

• The emerging prevalence of burn injuries in people is expected to bolster the growth of global burn ointment market. According to the American Burn Association (ABA) National Burn Repository 2019, flame burns continue to be the most common type of injury in the U.S. that is 41%, with scalds coming in second at 31%. While, chemical burn injuries (3.5%) and electrical burn injuries (3.6%) are less common.

Global Burn Ointment Market - Impact of the Coronavirus (COVID-19) Pandemic • Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19 as pandemic on March 11, 2020. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 182 million cases and 3.95 million deaths due to coronavirus disease (COVID-19) were reported till July 2, 2021, across the globe.

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