The medical and bandage market was valued at more than USD 7 billion in 2020. During the forecast period, the market is forecast to grow with a CAGR of more than 4% from 2021-2027.
Dressings for wounds are made from medical tapes and bandages. Professionals and applicators place medical tapes and bandages on the dressing and skin in a proper way. The tape may extend dressing usage times if it is properly placed. Bandages and tapes secure wound dressings, so they help facilitate faster and better healing. Medical tapes and bandages market value will grow further as chronic diseases have an increasingly increased prevalence.
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Factors Impacting the Medical and Bandages Market
- Growing geriatric populations and an increased incidence of chronic diseases such as ulcers, diabetic foot, & wound infections all contribute to the growth of medical tapes and bandages in the global market.
- Due to the increasing number of accidents, surgical procedures will surge in the UK, driving the market growth. Furthermore, the government’s initiatives regarding the safety of medical devices and the continuous advancement of medical adhesives are expected to drive market growth within the forecast period.
- Medical tapes and bandages are expected to grow at a moderate rate during the forecast period due to the lack of reimbursement policies for synthetic medical products and the lack of awareness of advanced wound care products.
Covid-19 Impact: the Medical and Bandage Market
- During the first phase of the forecast period, the COVID-19 outbreak affected the medical tapes and bandages market.
- The wound care market will register a certain decline during the forecast period owing to nationwide lockdowns, denied wound care services, canceled or postponed surgeries, as well as an increase in skin injuries registered by Covid-19 medical care providers.
- There will be dramatic growth in the demand for wound care products in the second half of the forecast period.
- Medical tapes and bandages will be adversely affected by the Covid-19 outbreak.
- Wounded areas are traditionally treated with surgical tapes, antibiotic dressings, and dry dressings. In addition to being more effective than traditional dressings, advanced wound dressings require less healing time. The use of such garments cannot be applied to all wounds, particularly burns.
- Traditional wound dressings are expected to grow slowly due to these limitations. There could be disruptions in these products’ supply chains worldwide due to lockdowns.
- Due to the widespread use of these dressings in-home care settings, the Covid-19 pandemic is not expected to possess a big effect on the marketplace of medical tapes and bandages.
Regional Outlook: the Medical and Bandages Market
In 2020, North America held the largest share of the market and is expected to grow considerably over the forecast period. Several key players in the region are anticipated to drive the market in the coming years due to rising road accidents, sports injuries, and increasing injuries in the workplace. Also driving the market are highly developed healthcare infrastructures and the availability of appropriately skilled professionals.
According to the forecast, Asia Pacific will experience the fastest growth rate. The presence of developing countries in the Asia Pacific, such as India, China, and Japan is expected to spur market growth. Further, this area will continue to see flourishing medical tourism due to an increase in demand for wound dressing products.
Key Players: the Medical and Bandage Market
The market for medical tapes and bandages is highly fragmented, with many small players on the global stage. The following are the key manufacturers of medical tapes and bandages on the global market:
- Johnson & Johnson Services Inc.
- Baxter International
- Cardinal Health, Inc.
- Medline Industries, Inc.
- Derma Sciences, Inc.
- 3M Company
- B Braun Melsungen AG
- McKesson Corporation
- Medtronic PLC
- Paul Hartmann AG
- Smith & Nephew PLC.
Market Segmentation: the Medical and Bandage Market
The report examines the global market for medical tapes and bandages based on Type, Application, and End User.
Segmentation based on Application
- Surgical Wounds
- Ulcer Treatment
- Burn Injury Treatment
- Traumatic & Laceration Wounds
- Sports Injury Treatment
- Others (Diagnostics and IV Site Dressing)
Segmentation based on Type
- Medical Tapes
- Fabric Tapes
- Plastic Tapes
- Others (Paper Tapes)
- Medical Bandages
- Adhesive Bandage
- Cohesive and Elastic Bandage
- Others (Gauze Bandage)
Segmentation based on End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Homecare Settings
Table of Content
Chapter 1: Global Medical Tapes and Bandages Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Medical Tapes and Bandages market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Medical Tapes and Bandages Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Medical Tapes and Bandages market Size Forecast (2023-2032).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Medical Tapes and Bandages market revenues on a global, regional, and country level, projecting trends until 2032. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Medical Tapes and Bandages market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Medical Tapes and Bandages market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Medical Tapes and Bandages business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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