Dublin, April 11, 2024 (GLOBE NEWSWIRE) -- The "Global Medical Tapes and Bandages Market Size, Share & Trends Analysis Report by Product (Medical Tapes, Medical Bandages), Application (Surgical Wound, Traumatic Wound), End-use (Hospitals, Retail), Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global medical tapes and bandages market size is anticipated to reach USD 9.86 billion by 2030 and is projected to grow at a CAGR of 3.4% from 2024 to 2030
Technological advancements, rising wound care awareness, novel product launches, rising number of road accidents, and rising incidence of hospital-acquired infections (HAIs) are the key driving factors for the market growth. 
Medical tapes and bandages are becoming more effective and convenient due to constant advances in adhesive technology and materials. These developments enhance patient outcomes and boost market expansion. For instance, in February 2023, researchers from Northwestern University created the first-ever tiny, elastic bandage that delivers electrotherapy right to the wound site to speed up healing.
This transient electronic bandage accelerates recovery by 30%. In addition, the bandage constantly tracks the course of recovery until it dissolves completely into the human body once it is no longer required. For individuals with diabetes, whose ulcers can result in several problems, including amputation of limbs or even death, the novel device may be a valuable tool. Thus, due to such factors, the market is expected to grow in the near future.
Medical Tapes And Bandages Market Report Highlights
- In terms of product, the medical bandages segment dominated the market in 2023 with the largest revenue share of 57.59%. The increasing number of road accidents and rising incidence of healthcare-associated infections across the globe is the major factor propelling the segment growth
- In terms of application, the surgical wound segment dominated the market in 2023 with the largest revenue share of 57.98%. The swiftly rising prevalence of chronic diseases including cancer and diabetes is creating a demand for medical bandages and tapes
- In terms of end-use, the hospitals segment held the largest revenue share of 28.22% in 2023. The increasing number of hospitals in developing countries is expected to propel the segment growth
- Based on region, North America dominated the market with a revenue share of 45.50% in 2023. The market is competitive, with both established companies and emerging players striving to capture market share through product innovation, mergers, acquisitions, and partnerships. Thus, the presence of key players in this region enhances the industry growth
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $7.79 Billion |
| Forecasted Market Value (USD) by 2030 | $9.86 Billion |
| Compound Annual Growth Rate | 3.4% |
| Regions Covered | Global |
Market Dynamics
Market Drivers Analysis
- Global increase in prevalence of chronic diseases
- Increasing mergers and acquisitions among the industry's key players
- Rising geriatric population
- Technological advancements in wound dressings
Market Restraints Analysis
- Stringent manufacturing policies
Medical Tapes and Bandages Market Analysis Tools
- Porter's Analysis
- PESTEL Analysis
Competitive Landscape
- Smith & Nephew PLC
- Molnlycke Health Care AB
- 3M
- McKesson Corporation
- Johnson & Johnson Services, Inc.
- B. Braun Melsungen AG
- Paul Hartmann AG
- Coloplast
- Integra LifeSciences
- Medline Industries, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/u6t0td
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