Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Medical Tape and Bandages Market - A Global and Regional Analysis: Focus on Region, Country-Level Analysis, and Competitive Landscape - Analysis and Forecast, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global medical tape and bandages market, valued at $3.65 billion in 2022, is on a trajectory of robust growth and is anticipated to reach $4.49 billion by 2030. This market is expected to expand at a compound annual growth rate (CAGR) of 2.61% between 2023 and 2030. Such growth is propelled by the increasing prevalence of chronic wounds such as diabetic ulcers, venous ulcers, and pressure injuries, particularly among the aging global population.
The global market for medical tapes and bandages is a crucial segment within the healthcare sector, primarily driven by the increasing demand for effective wound management solutions across various medical settings, including hospitals, clinics, and home care. This market's growth has been fueled by the rising incidences of chronic diseases such as diabetes, which often necessitate ongoing wound care, an aging global population more prone to chronic conditions and injuries, and advancements in medical procedures that require post-operative care and wound management.
Significant innovations in product materials and functionalities, such as the development of silicone-based adhesives for skin-friendly applications and the introduction of advanced bandages with antimicrobial properties and increased absorbency, are propelling the market forward. Furthermore, the increasing awareness about infection control and the importance of efficient wound healing practices in healthcare settings are pushing the demand for medical tapes and bandages. As healthcare providers and patients alike seek more effective and efficient medical supplies, the market for medical tapes and bandages is expected to see considerable growth and evolution in the coming years, responding to the needs of a dynamically changing healthcare landscape.
Regional Segmentation
- North America: U.S., and Canada
- Europe: U.K., Germany, France, Italy, Spain, Netherlands, Switzerland, Russian Federation, Turkey, Poland, Belgium, Sweden, Ireland, Norway, Austria, Denmark, Finland, Portugal, Czech Republic, Romania, Greece, Slovakia, and Ukraine
- Asia-Pacific: Japan, China, India, South Korea, Australia, Malaysia, and Thailand
- Latin America: Brazil, Mexico, Colombia, Argentina, and Chile
- Rest-of-the-World
Regionally, Asia-Pacific maintains the largest market share, and it is expected to demonstrate steady growth with a CAGR of 3.07% due to the rapid expansion of healthcare infrastructure and increasing public health awareness about effective wound management. North America is expected to follow with a 1.27% CAGR, driven by the rising prevalence of chronic diseases such as diabetes and obesity, which require ongoing management of chronic wounds using medical tapes and bandages.
Europe is expected to show growth at a 2.44% CAGR, fueled by increasing investments in healthcare technology and a growing elderly population that necessitates more advanced wound care solutions. Latin America and the Rest-of-the-World regions are expected to exhibit the highest growth rates at 3.23% and 3.7%, respectively, due to improvements in healthcare infrastructure and the increasing adoption of Western medical practices, alongside government initiatives aimed at enhancing overall healthcare accessibility and quality.
Developments in the Medical Tape and Bandages Market
- In February 2023, 3M announced the latest medical adhesive, which provides an extended wear duration of up to 28 days.
- In August 2022, Gentell acquired specific conventional and advanced wound care products and dressings from Integra LifeSciences. However, Integra LifeSciences will retain ownership of their MediHoney and TCC-EZ products.
Key Market Players and Competition Synopsis
In the global medical tapes and bandages market, the competition among key players is intense, with several leading companies dominating due to their innovation, brand reputation, and extensive distribution networks. Leading companies in this space are distinguished by their commitment to research and development, which enables them to introduce advanced wound care solutions that address a range of needs, from basic wound protection to complex wound management scenarios. Some prominent names established in this market are:
- Avery Dennison Belgie BVBA
- Molnlycke
- 3M
- ConvaTec
- Winner Medical Co. Ltd.
- Jackson Allison
- DeRoyal Industries, Inc.
- Planet (Suzhou) Medical Products Co. Ltd.
- StayGuard
- Clinisupplies Ltd.
- Smith & Nephew
- TRIAGE MEDITECH PVT. LTD.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 41 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $3.75 Billion |
| Forecasted Market Value (USD) by 2030 | $4.49 Billion |
| Compound Annual Growth Rate | 2.6% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/kaodjy
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