Medical Tapes and Bandages Market worth $8.6 Billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 10, 2021 /PRNewswire/ -- According to the new market research report "Medical Tapes and Bandages Market by Product (Tape (Fabric, Paper, Plastic), Bandage (Gauze, Adhesive, Cohesive, Elastic, Compression)), Application (Surgery, Trauma, Ulcer, Sports, Burns), Enduser (Hospital, ASC, Clinic, Homecare) - Global Forecast to 2026", published by MarketsandMarkets™, the global Medical Tapes and Bandages Market is projected to reach USD 8.6 Billion by 2026 from USD 7.1 Billion in 2021, at a CAGR of 4.0 % during the forecast period.
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The rising number of surgeries, increasing incidence of chronic wounds, and rising geriatric population are the major factors that are expected to drive the growth of the medical tapes and bandages market during the forecast period. However, the rising awareness about advanced wound care products is expected to restrain market growth in the coming years.
In terms Application, the surgical wound treatment segment is expected to account for the largest share of the medical tapes and bandages market in 2020."
Based on application, the medical bandages market is segmented into surgical wound, traumatic wound, burn injury, ulcer, sports injury, and other treatments. The large share of this application is due to increasing number of surgeries across the globe.
Based on products, the medical tapes market is segmented into medical tapes and bandages. Large share is attributed to bandages segment as bandages protect wounds from trauma, bacteria, and dirt; absorb fluid from draining wounds; and maintain a moist environment to expedite healing.
Based on end-users, the medical tapes and bandages market has been segmented based on end-user category—, hospitals, ambulatory surgery centers, clinics, home care settings and other end users. Only hospitals have the infrastructure and personnel required to treat ailments such as chronic wounds, burns, and traumatic and laceration cases. Such treatments utilize all types of medical tapes and bandages. For example, almost all major surgeries require pre-and post-surgery catheter insertion, which involves the use of medical tapes to secure.
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Asia Pacific dominated the global medical tapes and bandages market in 2020
The Asia Pacific market dominated the medical tapes market and registered highest CAGR during the forecast period. The market growth in Asia Pacific can be attributed to increasing demand for wound care products, rising geriatric population, and increasing prevalence of chronic wounds in the region.
Prominent players in the medical bandages market include 3M Company (US), Johnson & Johnson (US), Cardinal Health Inc. (US), Medline Industries Inc.(US), Essity (Sweden), McKesson Corporation (US), Integra Lifesciences Holdings Corporation (US), Smith & Nephew Plc., (US), B. Braun Melsungen AG (Germany), PAUL HARTMANN AG (Germany), Beiersdorf AG (Germany), Nitto Denko Corporation (Japan), Mölnlycke Healthcare (Sweden), Coloplast A/S (Denmark), and Nichiban (Japan).
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