Thailand Burn Ointment Market Analysis

The Thailand Burn Ointment Market stood at around xx Bn in 2023 and is projected to reach US $xx Bn by 2033, exhibiting a CAGR of xx% during the forecast period.

The Thailand Burn Ointment Market Analysis Executive Summary

Burn ointments are over the counter medication formulated for topical use on burns with an aim of protecting the affected area and encouraging healing. They may include ingredients such as petroleum jelly, aloe vera, or even antimicrobial agents to avoid infections of the affected area. Mild pain can be treated by medications such as silver sulfadiazine or other antibiotics that can also be applied as ointments. Burns result in 180,000 deaths each year, most of the cases reported in LMICs. Partial thickness or minor burns are major causes of morbidity and mostly occur in homes and worksites. Triple Antibiotic Ointment or Neosporin would be an acceptable method of treatment for a simple, first-degree burn. Other possible remedies can include bacitracin, Polysporin, or even petroleum jelly.

Burn ointment is a niche category of the wound care market, which is concentrated on solutions for different classes of burns. This category includes the readily available counter products and the doctor prescribed ointments which are employed by the end users, health institutions, and the first aid responders etc. The market expansion is as a result of increased incidences of burns, improved formulation, and awareness especially in developing nations. However, obstacles such as long and onerous regulatory processes and possible side effects have not been solved. Prominent vendors are Smith & Nephew, Johnson & Johnson, and 3M; however, North America and European countries are ahead in demand. The future trends indicate that the use of natural products, intelligent wound dressings, and scar healing prevention.    

Thailand Burn Ointment Market Dynamics

Market Growth Drivers

Since burn ointment is relatively new in the market, it is notable that there are many burn cases especially in LMICs, a factor which has highly contributed to many burn deaths. Rising consciousness level of treatment available and higher health care spending on burn products are boosting the market of both innovative burn control products and traditional burn care products. Moreover, utilization of advanced reimbursement policies in the regions of developed countries, and technological enhancements in the products used for burning treatment and new product launch by the various key players are also giving impetus to the growth of the market. It is also evident that increases in R&D expenditure, and geographic expansion into emerging markets with high burn incidences are other factors driving this upward trend.

Opportunity

Global burn ointment market has several future prospects, including the introduction of innovative and effective product formulations, constant advancement in technology, and favourable government policies to enter the market. Innovation, especially in the Asia Pacific region, has significant opportunities because burn injury rates are high, and spending on healthcare is increasing. Furthermore, enhanced partnerships, partnership combinations, and acquisitions among essential market participants will lead to broader product portfolios and customer base, while educational campaigns will enhance the use of burn care and prevention services. 

Market Restraints

The burn ointment market has an issue concerning the side effects of the medicine such as skin necrosis and irritation which may lead to reduced use. Uncertainty in developed area regarding the newer versions of burn ointment restrain the market growth in developing regions. The time it takes to approve new products and the cost of certain ointments could be drawbacks; people in certain countries cannot afford expensive ointments. Furthermore, threats from substitutes like silver dressings and hydro gels also pose a threat to the use of traditional burn ointments. Tackling all these challenges is imperative to ensure the market can grow to its greatest capacity. 

Competitive Landscape Burn Ointment Market in Thailand

Key Players

• Johnson & Johnson
• Smith & Nephew
• Perrigo Company
• Acelity Inc. (KCI)
• B. Braun Melsungen AG
• Mölnlycke Health Care
• Coloplast

Recent Developments

January 2023, Convatec launched ConvaFoam in the U.S. to address the needs of healthcare professionals and their patients. 

June 2022, Smith & Nephew announced plans to establish a new research and development center in the UK focused on its Advanced Wound Care business.

March 2021, A study published in Frontiers in Pharmacology, found that a Chinese medicine compound burn ointment provides an advanced alternative treatment by reducing scar formation. The ointment enhances wound healing through the PI3K/AKT/mTOR signaling pathway and boosts key cytokines, VEGF and TGF-β1, to aid tissue recovery.

April 2022, The Hospices Civils de Lyon sponsored a clinical trial to evaluate the effectiveness of silver sulfadiazine ointment in treating second-degree fibrinous burns. The study, which was estimated to begin in September 2022, aimed to compare the healing efficacy of silver sulfadiazine with other treatment options.

Mergers and Acquisitions

April 2024, Mölnlycke® agrees to acquire leading wound cleansing manufacturer to consolidate its position as global leader in wound care.

August 2023, Coloplast completes the acquisition of Kerecis.

January 2023, Convatec acquired Acelity, a leading company in advanced wound care products. 

Healthcare Policies and Regulatory Landscape for Burn Ointment Market in Thailand

Policy changes and Reimbursement scenario

Policy changes that have increased coverage for all classes of burns, as well as favourable reimbursement conditions, which have encouraged the use of burn ointments in developed markets such as North America and Europe. Governments and regulatory authorities are extending improved policy provisions and approval for new burn products to provide better treatment to burn patients, as reflected by the FDA in the U. S. Reimbursement support under Medicare, Medicaid and insurance in the U. S. and in the latest in the countries like Japan have brought burn ointments within the reach of patients. Nevertheless, in the majority of the L&MICs, affordability remains a major barrier where reimbursement is low, and out-of-pocket expenditure remains a barrier to these treatments. Enhancing the availability of adequate burn care coverage through appropriate policies could positively impact the market.