Pune, India, April 06, 2022 (GLOBE NEWSWIRE) -- The global market for medical tape is expected to rise during the forecast period due to increasing number of surgeries and utilization of these tapes. Fortune Business Insights™ publishes this information in a report titled, "Medical Tape Market, 2022-2028". As per the report, the medical tape market size was USD 1.10 billion in 2020. The market size is expected to rise from USD 1.14 billion in 2021 to USD 1.61 billion by 2028 at a CAGR of 5.0% during the projected period.
Medical tapes have rising demand and applications in wound care and wound supportive closure. These tapes are also highly used in patient monitoring and wearable devices such as electrode fixtures, ostomy bags, and splint attachments. Also, the tapes are selected on the basis of porosity, water resistance, shear strength, and adhesive strengths. Increasing utilization of these tapes in surgeries and the rising number of surgical procedures are expected to boost the market during the projected period.
Key Industry Development
December 2021: Boyd Corporation announced the acquisition of MBK Tape Solutions to expand wearable technologies such as biosensor, transdermal patches, and medical wearable expertise.
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Market Growth Drivers
- The market is expected to witness prominent growth during the forecast period, owing to increasing number of hospitals in the segmented regions. Also, developing healthcare infrastructure in developed and developing countries is expected to boost the product demand in the coming years.
- surgical procedures have increased post-pandemic, thereby increasing product demand and ensuring market growth. Rising technological advancements encourage the key players to adopt new technical alternatives and enhance their product portfolio. These factors are likely to ensure the global medical tape market growth during the projected period.
Report Scope & Segmentation :
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 5.0% |
| 2028 Value Projection | USD 1.61 billion |
| Base Year | 2020 |
| Market Size in 2021 | USD 1.14 billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 128 |
| Segments covered | By Material, By Application, By End-User, and By Geography |
| Growth Drivers | The increasing demand for medical adhesive tapes throughout the world, certain factors restrict the market growth during the forecast period. |
| Major market players in developed and emerging countries are actively involved in the development of better tapes with an aim to provide better product offerings at an affordable cost. |
Regional Insights
North America holds the highest global medical tape market share during the forecast period. The region stood at USD 0.56 billion in 2020 and dominated the global market due to increasing hospital admissions. Also, the rising adoption of elective procedures is expected to dominate the market in the coming years.
Europe holds the second-largest position in the global market. The increasing number of surgical procedures and rising demand for medical consumables are expected to drive the market in this region.
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Segments
- By material, the market is divided into paper, plastic, fabric, and others.
- On the basis of application, the market is segmented into post-operative care, wound care, IV set placement, others.
- Based on end-user, the market is segregated into hospitals & ASCs, clinics, and others.
- By geography, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Competitive Landscape
Key players in the market implement several business growth strategies such as forming strategic alliances, partnerships, mergers, and acquisitions. These strategies allow key players to expand their business reach and implement innovative ideas to develop the products. Implementing innovative product development ideas allow key players to propel growth by attracting global customers and satisfying their needs.
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The Report Lists the Key Companies in the Global Market
- Cardinal Health (Ohio, U.S.)
- 3M (Minnesota, U.S.)
- Beiersdorf (Hamburg, Germany)
- Smith and Nephew (London, U.K.)
- McKesson Corporation (Texas, U.S.)
- Medtronic PLC (Dublin, Ireland)
- Medline Industries (Illinois, U.S.)
- Avery Dennison Corporation (California, U.S.)
- Nichiban (Tokyo, Japan)
- Paul Hartmann AG (Heidenheim, Germany)
- Nitto Denko Corporation (Osaka, Japan)
- Scapa Group PLC (Ashton-under-Lyne, U.K.)
Table of Contents
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
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- Number of Hospital Admissions, By Key Countries, 2020
- Number of Key Surgeries, By Region/Country, 2020
- New Product Launches, By Key Players
- Recent Industry Developments (Mergers, Acquisitions, etc.)
- Impact of COVID-19 on the Market
- Global Medical Tape Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Paper
- Plastic
- Fabric
- Others
- Market Analysis, Insights and Forecast – By Application
- Wound care
- IV set placement
- Post-Operative Care
- Others
- Market Analysis, Insights and Forecast – By End User
- Hospitals & ASCs
- Clinics
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- North America Medical Tape Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Material
- Paper
- Plastic
- Fabric
- Others
- Market Analysis, Insights and Forecast – By Application
- Wound care
- IV set placement
- Post-Operative Care
- Others
ToC Continued…
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