Medical Tapes and Bandages Market is anticipated to grow further up to USD 11.4 billion by 2031 | Cardinal Health Inc., Medline Industries Inc, Essity, McKesson Corporation

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.

New York, According to a new market research report published by Global Insight Services Medical Tapes and Bandages Market is expected to reach US$ XX bn by 2031. 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.

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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.

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Global Medical Tapes and Bandages Market Segmentation
By Product

Bandages
Medical Tapes

By Application

Surgical Wound Treatment
Traumatic Wound Treatment
Ulcer Treatment
Sports Injury Treatment
Burn Injury Treatment
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.

COVID-19 Impact

Thus, the COVID-19 pandemic has shown a positive impact on the market growth owing to its increased demand for critical care capacity and to support hospitals in the fight against COVID-19. Furthermore, according to the National Library of Medicine in September 2020, a barrier enclosure has been proposed for use during intubations where there is a substantial risk of aerosolization. The use of noninvasive respiratory assistance is on the rise amid the COVID-19 outbreak. However, it is linked to a significant risk of aerosol formation, which can lead to illnesses among healthcare workers (HCWs). As a result, vacuum suction tubing was hooked to the wall mount, and the other end of the tubing was taped to the inside of the barrier enclosure's roof with adhesive surgical tape. Thus, these adhesive surgical tapes offer protection against COVID-19-related illnesses in healthcare settings, which is expected to drive market growth. Due to the COVID-19 pandemic in 2020, sales of medical tapes and bandages increased significantly across the globe.

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Reasons to buy Medical Tapes and Bandages Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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