Press release
Global Adhesive Bandages Market Size to Grow at a CAGR of 4% in the Forecast Period of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Adhesive Bandages Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 4%
Numerous cuts, abrasions, minor injuries, and wound formations on body parts are caused by the increase in recreational activities like adventure sports, hunting, and trekking, necessitating the use of adhesive bandages. All across the world, there are an increasing number of accidents, both fatal and non-fatal. Adhesive bandages are applied to some of these non-fatal wounds in order to prevent infection and promote healing.
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The adhesive bandages market is also anticipated to grow as a result of an ageing population, which is more vulnerable to orthopaedic procedures and injuries, as well as an increase in domestic work-related injuries among all age groups. Cardiovascular conditions such as peripheral arterial disease (PAD), coronary artery disease (CAD), and other heart and vessel problems lead to obstructions that impede the healing process by preventing the flow of blood, oxygen, and nutrients to the lesion, thereby fuelling the adhesive bandages market expansion.
The market for adhesive bandages is also expanding due to the increasing research expenditures made to create cutting-edge adhesive tapes that are user-friendly and technologically advanced. Sustainable adhesive bandages that are safe to use on the human body and beneficial to the environment are becoming more popular. The rise of the adhesive bandages market is being aided by rising research efforts to provide bandages with sensors to monitor patients' health.
Adhesive Bandages Industry Definition and Major Segments
An adhesive bandage, often known as a plaster, is a flexible sheet with sticky ends and an absorbent pad to put against the wound. It is a type of medical dressing that is applied to minor wounds to keep the area clean and free of infection. It is often in the shape of a tape with an absorbent pad of a smaller size in the centre and adhesive strips on the opposing ends for easier placement.
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Based on product, the market is bifurcated into:
• Medicated Bandages
• Non-medicated Bandages
The market on the basis of material is divided into:
• Plastic
• Woven Fabric
• Latex Strip
• Others
On the basis of distribution channel, the market is segmented into:
• Hospitals and Clinics
• Retail Stores
• E-commerce
• Others
Based on application, the market is divided into:
• Oedema Control and Pain Management
• Wound Management
• Orthopaedic Support
• Sports and Athletic Wraps
• Others
On the basis of region, the market is segmented into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Adhesive Bandages Market Trends
A variety of adhesive plasters with diverse levels of adhesion, sizes, substrate materials, and shapes are becoming more widely available to facilitate healthy healing for varied wounds and injuries. For instance, 'Steri-Strips', or butterfly stitches, are increasingly used when treating larger or unequal wounds.
The adhesive bandages market is benefited by the availability of high-quality adhesive plasters at reasonable rates through the growing distribution channels, such as hospitals, clinics, and retail stores. The development of e-commerce is accelerating the accessibility and availability of cutting-edge adhesive bandages, which is one of the key market trends accelerating the market growth. Due to the growing number of hospitals in emerging nations, improvement of first aid services, and the rise in accidents and injuries, hospitals pharmacies held a significant position in the adhesive bandages market.
Geographically, North America dominated the market due to its well-developed healthcare system and growing elderly population, who are more likely to acquire chronic wounds. Due to the increased number of traffic accidents, injuries, and surgical procedures being used, Asia Pacific is anticipated to present manufacturers with profitable growth prospects.
Key Market Players
The major players in the global adhesive bandages market report are
• 3M
• B. Braun Melsungen AG
• Cardinal Health, Inc.
• Johnson & Johnson Services, Inc.
• Smith & Nephew Pty Ltd.
• Dynarex Corporation
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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