Global Market Study
on Medical Tapes
and Bandages: North
America to Lead the Global Market in Terms of Revenue during
2017-2022
According to the latest report by Persistence Market Research (PMR), the
global medical tapes and bandages market is expected to witness sluggish
growth. The market is estimated to increase to 3.6% CAGR during the forecast
period 2017-2022. It is also expected to reach US$ 7,403.0 million revenue by
the end of 2022.
In order to fasten the process of healing the wound, and provide protection from
bacteria and environmental factors such as water, air, etc. medical tapes and
bandages are being used on a large scale. Manufacturers are focusing on
introducing new medical bandages and tapes products such as skin sensitive
tapes, anti-bacterial tape and bandages, tapes for sports professionals that can
resist the movement for a long time. Factors including the rise in aging
population, increasing number of accidents, the rise in a number of surgeries
being conducted and the growth in the knowledge of taking proper care of
wounds are contributing to the market growth.
Emergence of Advanced Wound Care Products to Hamper the Growth of
Medical Tapes and Bandages Market
Increasing use of the advanced wound care products is hampering the global
medical tapes and bandages market. Proper wound management as per the
condition of the patient and type of wound is also being focused on. Hence, to
provide the right treatment for wounds, medical professionals are using
advanced wound care products that can be applied in the early stage of
treatment, resulting in the quick healing and reduced risk of infection. Various
types of wounds include traumatic, surgical, arterial, diabetic, pressure, and
venous. Hence, treating different types of wounds require various types of
wound care product as per the wound.
Advanced wound care products facilitating fast wound healing are being
produced by manufacturers which can be used for both primary and secondary
dressing. For example, foams, alginates, hydrocolloids, hydrogels, etc.
Advanced wound care products are also being developed that can maintain a
stable temperature around the wound, provide oxygen flow, relieves pain, and
removes dead tissue and prevents scarring.
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Global Medical Tapes and Bandages Market: Segmental Insights
The global medical tapes and bandages market is segmented on the basis of end
user, product type and application. Based on the product type, medical
bandages are expected to witness growth in the global medical tapes and
bandages market. By the end of 2022, medical bandages are estimated to reach
nearly US$ 5,900 million revenue.
By end user, market segmentation includes hospitals, clinics, home care settings
and ambulatory surgery centers. Among these, Hospitals are expected to
dominate the global medical tapes and bandages market. By the end of 2017,
hospitals are estimated to account for more than half of the revenue share.
Based on the application, surgical wound treatments are expected to emerge as
the largest segment in terms of application. Surgical wound treatment is
estimated to exceed US$ 3,100 million revenue by the end of 2022.
Geographically, the global medical tapes and bandages market is categorized
into Europe, North America, Asia Pacific Excluding Japan (APEJ), Latin
America, Japan, and the Middle East and Africa (MEA). Among these, North
America is expected to dominate the global medical tapes and bandages market.
North America is estimated to exceed US$ 2,200 million revenue by the end of
2022. Prevalence of chronic wounds, orthopedic injuries and rise in the
surgeries are resulting in the increasing use of bandages and medical tapes in
the region. Meanwhile, APEJ and Europe are also expected to witness growth
during the forecast period 2017-2026.
Global Medical Tapes and Bandages Market: Competitive Assessment
Leading market players in the market are 3M Company, Medtronic plc, B.
Braun Melsungen AG, Smith & Nephew Plc, Johnson & Johnson, Medline
Industries Inc., Cardinal Health, Inc., Nitto Denko Corporation, Paul Hartmann
AG, Beiersdorf Aktiengesellschaft, and Lohmann & Rauscher International
GmbH & Co. KG.
Report overview @ https://www.persistencemarketresearch.com/marketresearch/medical-tapes-and-bandages-market.asp
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