The global medical tapes and bandages market was valued at USD 7.4billion in 2021 and it is anticipated to grow up to USD 11.4 billion by 2031, at a CAGR of 4.5% during the forecast period.
Global Medical Tapes and Bandages Market report from Global Insight Services is the single authoritative source of intelligence on Medical Tapes and Bandages Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Medical tapes are the pressure sensitive adhesive tapes used for supporting bandage or other wound dressings. Medical bandages are a cotton gauge cloth beneficial for supporting medical devices such as surgical dressing or splint. Medical tapes and bandages are used to maintain moisture at site of dressing, promote wound healing and provide mechanical & bacterial protection to the wound.
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Market Trends and Drivers
Growing prevalence of diseases and conditions affecting wound healing capabilities this will increased the demand for medical tapes and bandages thereby, augment the market growth. Chronic wounds mainly include wound such as diabetic foot ulcers, pressure ulcers, venous leg ulcers, and other chronic wounds. A diabetic foot ulcer is a major complication of diabetes. As diabetes slows down the healing process, all types of ulcers, other chronic and acute wounds, even minor cuts, take time to heal, prolonging treatment type, which in turn increases consumption of medical tapes and bandages used for dressings and re-dressings. In addition, due to prolonged healing time, in some cases, even minor cuts turn into chronic wounds, further increasing the demand for dressings. For instance, according to the International Diabetes Federation (IDF), the global diabetic cases will increase from 415.0 million in 2015 to 642.0 million by 2040. Similarly, as per the CDC estimates that one in three American adults will have diabetes by 2050.
Market Restraints and Challenges
Rising awareness about advanced wound care products may restrain the market growth. Advanced wound care accelerates the healing process for many chronic wounds by providing and promoting a moist environment. As basic/traditional wound care products take a large amount of time for healing of wounds and are less effective in certain types of wounds, advanced wound care products are being used as first-line therapy wherever infection control and healing speed are major concerns. Considering their effectiveness, coupled with the limitations of basic/traditional wound dressings, advanced and active wound care products are expected to cannibalize the market for medical bandages and tapes in the coming years.
Global Medical Tapes and Bandages Market Segmental Overview
The report analyses the global medical tapes and bandages market based on product, application, end-user, and region.
Global Medical Tapes and Bandages Market by Product
Based on product, it is segmented into bandages, and medical tapes. Among these, the medical bandages segment captured the largest market share in 2021. Bandages are majorly used for wound dressings, supporting fractures & splints, and sports injuries. In cases of post-operation, the bandages are used to keep the overall body structure compressed by restricting the movement of the body parts. Bandages are generally made up of a wide variety of materials, such as plastic, cloth, synthetic, or elastic. The bandages have an adhesive attached or an elastic structure to act as their support system. The bandage segment is fragmented into the triangular bandage, elastic bandage, muslin bandage rolls, elastic plaster bandage, orthopedic bandage, and others
Major Players in the Global Medical Tapes and Bandages Market
The key players in the market are 3M Company (US), Johnson & Johnson (US), Cardinal Health Inc. (US), Medline Industries Inc.(US), Essity (Sweden), McKesson Corporation (US), Integra Lifesciences Holdings Corporation (US), Smith & Nephew Plc., (US), B. Braun Melsungen AG (Germany), and PAUL HARTMANN AG (Germany), among others.
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