Asia Pacific Burn Ointment Market Size & Outlook, 2020-2027

The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to burn ointment market will help companies and investors design strategic landscapes.

Topical antibiotics was the largest segment with a revenue share of 34.49% in 2020. Horizon Databook has segmented the Asia Pacific burn ointment market based on topical antibiotics, silver, iodine covering the revenue growth of each sub-segment from 2016 to 2027.

Asia Pacific medical device outsourcing market held the largest share 41.3% in 2023 and is expected to witness lucrative growth owing to the availability of several opportunities in this region, especially in Japan, China, and India. Some of the factors such as improved regulatory framework, high-cost savings, a large number of clinical trials conducted in the region and increase in the number of medical device companies venturing into the region are expected to drive the Asia Pacific market.

Furthermore, availability of a skilled workforce within the region at a lower cost compared to the U.S. is another factor that is anticipated to propel the market growth. Furthermore, outsourcing of certain services such as business process outsourcing, knowledge process outsourcing, clinical data management, regulatory writing, pharmacovigilance, and medical coding has witnessed an increase in the past 5 years.

These services are majorly outsourced to countries such as the Philippines, India, Korea, Japan, Malaysia, Singapore, and Australia. However, Japan is the largest market in the Asia Pacific region, majorly due to high healthcare expenditure and rapid introduction of advanced medical devices in the market. The increase in the rate of outsourcing consulting services from developed economies to emerging nations such as India and China is also expected to propel market growth over the forecast period.