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Key Players in the Burn Care Market Adopted New Product Launches As their Key Growth Strategy
The burn care market is consolidated in nature due to the presence of a few large players. The prominent players in the burn care market include Smith & Nephew plc (U.K.), Mölnlycke Health Care (Sweden), Convatec Inc. (U.K.), Acelity (U.S.), and Coloplast A/S (Denmark). The other players in this market are Derma Sciences, Inc. (U.S.), Medtronic (Ireland), 3M Company (U.S.), Hollister Corporation (U.S.), and DeRoyal Industries, Inc. (U.S.).
Smith & Nephew plc was the largest player in the global burn care market in 2015. The company possesses an exhaustive product portfolio in the burn care market, which includes various silver dressings, hydrogel dressings, and foam dressings. The innovation-centric company significantly invests in R&D for launching new and advanced products in the market. For instance, in December 2013, Smith & Nephew introduced DURAFIBER Ag Antimicrobial Dressings in Europe.
Mölnlycke Health Care accounted for the second-largest share in the burn care market in 2015. The company operates in over 50 countries across North America, Europe, Asia, and Latin America. The company focuses on expanding its presence in the burn care products market by strategically investing in research and development activities, which enables it to launch new products in the market. For instance, in September 2013, the company launched Mepilex Transfer Ag and Mepilex Border Post-op. These dressings are integrated with Safetac technology, which helps reduce pain, blistering, and skin & wound damage. The company also focuses on the strategy of expansions to maintain its market position. For instance, in September 2013, the company opened a manufacturing facility in Wiscasset, Maine (U.S.). This expansion helped the company to increase its product offerings in North America.
The key strategies followed by most companies in the burn care market are new product launches, agreements and partnerships, acquisitions, and expansions. The strategy of new product launches accounted for the largest share of the overall growth strategies mapped from 2013 to 2016. Mönlycke Health Care (Sweden), Smith & Nephew plc (U.K.), and Coloplast A/S (Denmark) are some of the leading burn care manufacturing companies that adopted this growth strategy. Besides new product launches, companies adopted the strategy of agreements and partnerships in order to increase their geographic reach, expand their customer base, and strengthen their product portfolios.
Burn Care Market by Product (Advanced (Alginate, Collagen, Hydrocolloid, Hydrogel), Biologics, Traditional), Depth (Minor, Partial-thickness, Full-thickness Burn), End-Users (Hospitals (Inpatient, Outpatient), Physician Clinics, Homecare) - Forecast to 2021
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