Medical Tapes And Bandages Market: Hospital Segment Dominated With A Revenue Share

 Medical Tapes And Bandages Industry Overview

The global medical tapes and bandages market size was valued at USD 9.05 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.41% from 2022 to 2030. The growth of the market is attributed to the increasing prevalence of chronic diseases such as diabetes, cancer, and other autoimmune diseases, the increasing number of road accidents, and technological advancements, coupled with the increasing adoption of medical tapes and bandages in various healthcare settings such as hospital, clinics, and others.

For instance, according to the 3M company in 2019, 69% of clinicians use medical tape multiple times per day which is expected to boost the market growth. During the outbreak of COVID-19 disease, face masks that are recommended to be used to prevent transmission of the infection can cause serious skin injuries, which may require several wound care products such as medical tapes, bandages, and others for treatment.

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.

 

Gather more insights about the market drivers, restrains and growth of the Global Medical Tapes And Bandages market

 

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.    

The global increase in the incidence of chronic diseases such as cancer, diabetes, and other autoimmune diseases is expected to drive market growth. Moreover, factors such as the adoption of unhealthy & sedentary lifestyles, antimicrobial resistance, smoking, and alcohol consumption are some of the other major factors contributing to the rise in the prevalence of non-communicable diseases. Furthermore, according to the WHO in April 2021, Non-communicable diseases (NCDs) claim the lives of 41 million people each year, accounting for 71% of all deaths worldwide.

In addition, cardiovascular illnesses kill 17.9 million people per year, followed by cancer (9.3 million), respiratory disorders (4.1 million), and diabetes (1.5 million). As a result of the rising prevalence of chronic conditions, the number of surgeries being performed has also increased which is anticipated to increase the demand for medical tapes and bandage products, propelling the market growth.

The market is predicted to grow during the forecast period due to an increase in the number of surgeries and trauma cases around the world. Trauma is a major cause of death worldwide, with around 5 million people dying every year as a result of traumatic injury. According to the Association for Safe International Road Travel (ASIRT) 2018, every year, between 20 million to 50 million individuals are injured or disabled in traffic accidents, with 1.35 million related deaths. According to the WHO, road traffic injuries are estimated to be the ninth leading cause of mortality globally.

Moreover, bandages and tapes are used for the treatment of minor wounds. Thus, the rising number of accidents is expected to boost the demand for medical tapes and bandages, which is expected to lead to considerable market growth over the forecast period.

Along with the aforementioned factors, the growing number of ambulatory surgery centers (ASCs) will propel market growth in the near future. According to the Texas Ambulatory Surgery Center Society, there will be over 5,344 surgery centers in the U.S. in 2021. Surgical treatment, diagnostics, and preventive procedures are among the services provided by ASCs. Ambulatory surgical centers also do pain management, urology, orthopedics, restorative, reconstructive, or alternative plastic procedures, and gastrointestinal (GI) surgeries.

Previously, ASCs could only do small GI surgeries; however, as the number of minimally invasive surgical procedures increased, the services provided by ambulatory surgery centers extended and developed exponentially. For instance, according to Agency for Healthcare Research and Quality in December 2021, the number of ambulatory procedures performed in community hospitals in the U.S. has steadily increased over the last quarter-century, rising from 13.4 million in 1995 to 19.2 million in 2018.

Technological advancements, coupled with product launches, to streamline the procedures and make them safer & more cost-effective, are among the key factors contributing to market growth. For instance, in May 2019, 3M entered into a definitive agreement to acquire the advanced wound care and specialty surgical solutions segments of Acelity and its KCI Subsidiaries, with an aim to expand the company’s product portfolio which is expected to boost the market growth in the near future.

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Medical Tapes And Bandages Market Segmentation

Grand View Research has segmented the global medical tapes and bandages market based on product, application, end-use, and regions:

Medical Tapes And Bandages, Product Outlook (Revenue USD Million, 2018 - 2030)

• Medical Tapes
  • Fabric Tapes
    • Acetate
    • Viscose
    • Cotton
    • Silk
    • Polyester
    • Other Fabric Tapes
  • Paper Tapes
  • Plastic Tapes
    • Polypropylene
    • Other Plastic Tapes
  • Other Tapes
• Medical Bandages
  • Muslin Bandage Rolls
  • Elastic Bandage Rolls
  • Triangular Bandages
  • Orthopedic Bandages
  • Elastic Plaster Bandages
  • Other Bandages

Medical Tapes And Bandages, Application Outlook (Revenue USD Million, 2018 - 2030)

• Surgical Wound
• Traumatic Wound
• Ulcer
• Sports Injury
• Burn Injury
• Other Injuries

Medical Tapes And Bandages, End-Use Outlook (Revenue USD Million, 2018 - 2030)

• Hospitals
• Ambulatory Surgery Centers
• Clinics
• Retail
• Others

Medical Tapes And Bandages, Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

 

Market Share Insights

• April 2019: Smith & Nephew PLC purchased Osiris Therapeutics, Inc. with the goal of speeding up the development of its medical bandages and tapes product line, thus boosting its client base and market reach. 

 

Key Companies profiled:

Some prominent players in the global medical tapes and bandages market include:

• Smith & Nephew PLC
• Mölnlycke Health Care AB
• Ethicon Inc. (JOHNSON & JOHNSON)
• Medtronic
• 3M
• Beiersdorf AG
• Urgo Medical
• Dynarex Corporation
• Winner Medical Group, Inc.
• McKesson Corporation
• Cardinal Health
• 3L Medicinal Products Group
• Braun Melsungen AG
• Paul Hartmann AG

 

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