Press release
Medical Adhesive Tapes Market is Estimated to Reach US$ 14.5 Billion by 2030
Medical Adhesive Tapes Market
The rise in chronic diseases has resulted in higher rates of hospitalizations and surgeries worldwide, driving the demand for medical adhesive tapes. Additionally, increased investments in healthcare infrastructure in emerging economies like India, China, and Brazil are anticipated to further boost market growth for medical adhesive tapes through 2030.
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Major manufacturers of medical adhesive tapes are prioritizing the development and introduction of new products to enhance sales opportunities and outpace competitors.
In December 2020, 3M, a prominent multinational conglomerate, unveiled its latest offering: the 3M Hi-Tack Silicone Adhesive Tape. This innovative tape targets patients utilizing wearable devices over extended durations and is designed to support heavier devices effectively.
Key Takeaways from Market Study
The global market for medical adhesive tapes is currently valued at US$ 9.3 billion.
Shipments of medical adhesive tapes are expected to grow steadily at a 5.7% CAGR through 2030, reaching US$ 14.5 billion by that year.
Factors driving this growth include an aging population, increased surgical procedures, higher prevalence of diabetes, obesity, and other chronic diseases, and a growing emphasis on wound care management.
However, challenges such as fluctuating raw material prices and stringent regulatory requirements are likely to moderate overall market expansion through 2030.
Demand for acrylic-based medical adhesive tapes is forecasted to rise at a 7% CAGR over the next eight years, reaching US$ 5.1 billion by the end of 2030.
In China, the market is expected to grow at a faster rate with a projected CAGR of 10%, reaching US$ 3.3 billion by 2032.
๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ: https://www.factmr.com/report/medical-adhesive-tapes-market
Competitive Landscape
Medical adhesive tape companies are expanding their business horizons through mergers, collaborations, acquisitions, and partnerships to bolster their global sales potential.
In April 2021, Meridian Adhesives Group, a global provider of adhesion solutions, announced the acquisition of Pacific Adhesive Systems (PAS), a Malaysian firm specializing in high-performance adhesive and coating solutions. This move enhanced Meridian's position in the global market landscape.
Similarly, in December 2021, Boyd Corporation, a leading innovator in thermal management technologies, acquired MBK Tape Solutions, renowned for its innovative adhesive products designed for applications adhering to skin. These acquisitions bolstered Boyd's capabilities in medical material science across various healthcare applications.
Key players in the medical adhesive tapes sector are expected to prioritize investment in product innovation and expedite the launch of new offerings to maximize revenue potential through 2030.
In May 2022, 3M Company, an American multinational corporation, introduced its latest medical adhesive product. The 3M Spunlace Extended Wear Adhesive Tape on Liner, 4576, is specifically designed for wearable health devices that adhere directly to the skin and can be worn for up to 21 days.
Top Industry Players of Medical Adhesive Tapes
3M Company
Medtronic PLC
Parafix Tapes & Conversions Ltd.
Medline Industries
Smith & Nephew plc
Nichiban
Avery Dennison Corporation
Johnson & Johnson
Paul Hartmann AG
Nitto Denko Corporation
Cardinal Health Inc.
Scapa Group PLC
Segments of Medical Adhesive Tapes Industry Research
By Resin Type:
Acrylic
Silicone
Rubber
Others
By Backing Material:
Paper
Fabric
Plastic
Others
By Adhesion:
Single-sided
Double-sided
By Application:
Surgeries
Wound Dressings
Splints
Secure IV Lines
Ostomy Seals
Others
By Region:
North America
Latin America
Europe
APAC
MEA
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Winning Strategy
Medical adhesive tape manufacturing companies are expected to adopt strategies that help them bolster their market presence and advance revenue generation capacity. Medical adhesive tape manufacturers are expected to develop and launch products that are geared towards advanced wound care to maximize their business scope going forward.
A comprehensive account of all the strategies adopted by major and minor market players has been detailed in this latest medical adhesive tapes market research report by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
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