Portland, OR, Sept. 13, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global medical tape market was estimated at $2.5 billion in 2021 and is expected to hit $3.7 billion by 2031, registering a CAGR of 3.8% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $2.5 Billion |
| Market Size in 2031 | $3.7 Billion |
| CAGR | 3.8% |
| No. of Pages in Report | 337 |
| Segments Covered | Product, Application, End-user, and Region. |
| Drivers | Surge in number of road accidents |
| Increase in adoption of medical tapes and bandages in various healthcare institutions | |
| Opportunities | Introduction of advancements in tape technology |
| Restraints | High risk for development of medical adhesive related skin injuries |
Covid-19 scenario-
- Cancellation and postponement of wound care services decreased the demand for medical tapes to a significant extent, which impacted the global medical tape market negatively.
- Growing prevalence of healthcare acquired infection aggravated the market condition even more. However, the market is projected to get back on track soon.
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The global medical tape market is analyzed across product, application, end-user, and region. The report takes in an exhaustive analysis of segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
Based on product, the paper tapes segment contributed to nearly two-fifths of the global medical tape market in 2021, and is expected to dominate by 2031. The plastic tapes segment, however, would showcase the fastest CAGR of 4.3% throughout the forecast period. The other segment covered in the report includes fabric tapes.
Based on application, the wound dressing segment held more than half of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also manifest the fastest CAGR of 4.1% throughout the forecast period. The other segments assessed through the report include surgery and secure IV lines.
Based on end-user, the hospitals segment held more than two-fifths of the total market revenue in 2021, and is expected to dominate by 2031. The same segment would also cite the fastest CAGR of 4.2% throughout the forecast period. The ambulatory surgery centers and clinics segments are also covered in the report.
Based on region, the market across Asia-Pacific generated more than one-third of the global market revenue in 2021, and is anticipated to retain the lion’s share by 2031. The same region would also manifest the fastest CAGR of 4.7% during the forecast period. The other provinces analyzed in the report include Europe, North America, and LAMEA.
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The key market players analyzed in the global medical tape market report include Andover Healthcare Inc., Smith & Nephew PLC, B. Braun Melsungen AG, Cardinal Health, Coloplast A/S, Dynarex Corporation, Integra Lifesciences Holdings Corporation, Winner Medical Group, Inc., 3M Company, Jiangxi 3L Medical Products Group Co Ltd, Johnson & Johnson, McKesson Corporation, Medtronic plc, Paul Hartmann AG., Scapa Group PLC, Ad Tape & Label Company, Inc., and Urgo Medical.
The report provides a detailed analysis of these key players of the global medical tape market. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance, product portfolio, operating segments, and developments by the top players.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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