Market Definition
Medical tapes are the pressure sensitive adhesive tapes used for supporting bandage or other wound dressings.
Market Outlook
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.
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.
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.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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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 Global Medical Tapes and Bandages Market by Application Based on application, it is segmented into surgical wound treatment, traumatic wound treatment, ulcer treatment, sports injury treatment, burn injury treatment, and others. Among them, surgical wound segment is expected to experience the fastest growth rate during the forecast period. The rising number of surgical site infections (SSI) is one of the major driving factors for the segment growth. Surgical wounds majorly occur due to SSI. As per the Journal of Patient Safety & Infection Control of 2019, estimates for SSIs in India are significantly high ranging from 23.0% to 38.0% in comparison with the global estimates, ranging from 0.5% to 15%. Furthermore, the rising incidence of trauma across the globe also contributes to the segment growth. For instance, as per the World Health Organization (WHO) in 2019, around 9.0% of global mortality occurs due to trauma every year. Hence, considerable segment growth is anticipated during the forecast period. Global Medical Tapes and Bandages Market End-user Based on end–user, it is segmented into hospitals, ambulatory surgery centers, clinics, home care settings, and others. Hospital segment is anticipated to witness the fastest CAGR over the forecast period. The hospital segment dominated the market with a share of 27.87% in 2021. Surgical wound care and bone fracture dressings are primarily intended for use in hospitals and are not suitable for home usage. The segment is being driven by an increase in the number of surgical wounds as a result of the increasing number of surgeries. The treatment of a surgical site infection necessitates a lengthy hospital stay and close monitoring. Furthermore, the rising prevalence of diabetic foot ulcers and venous leg ulcers is expected to fuel the market, since medical tapes and bandages are commonly employed in such situations. As a result, such variables may boost segment growth during the predicted period.
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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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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
- Market Size in 2021 – US$ 7.4 Billion
- Market Size in 2031 – US$ 11.4 Billion
- CAGR % – 4.5%
- Historic Period – 2015-2020
- Forecast Period – 2022-2031
- Base Year – 2021
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