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Medical Tapes and Bandages Market Growth 2021: Industry Size, Share, Trends, Upcoming Demand, Business Opportunities, Forecast 2027

Report Ocean presents a new report on medical and bandage market size, share, growth, industry trends, and forecast 2027, covering various industry elements and growth trends helpful for predicting the market’s future.

The medical and bandage market was valued at more than USD 7 billion in 2020. During the forecast period, the market is forecast to grow with a CAGR of more than 4% from 2021-2027.

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Dressings for wounds are made from medical tapes and bandages. Professionals and applicators place medical tapes and bandages on the dressing and skin in a proper way. The tape may extend dressing usage times if it is properly placed. Bandages and tapes secure wound dressings, so they help facilitate faster and better healing. Medical tapes and bandages market value will grow further as chronic diseases have an increasingly increased prevalence.

Factors Impacting the Medical and Bandages Market

Growing geriatric populations and an increased incidence of chronic diseases such as ulcers, diabetic foot, & wound infections all contribute to the growth of medical tapes and bandages in the global market.

Due to the increasing number of accidents, surgical procedures will surge in the UK, driving the market growth. Furthermore, the government’s initiatives regarding the safety of medical devices and the continuous advancement of medical adhesives are expected to drive market growth within the forecast period.

Medical tapes and bandages are expected to grow at a moderate rate during the forecast period due to the lack of reimbursement policies for synthetic medical products and the lack of awareness of advanced wound care products.

Covid-19 Impact: the Medical and Bandage Market

During the first phase of the forecast period, the COVID-19 outbreak affected the medical tapes and bandages market.

The wound care market will register a certain decline during the forecast period owing to nationwide lockdowns, denied wound care services, canceled or postponed surgeries, as well as an increase in skin injuries registered by Covid-19 medical care providers.

There will be dramatic growth in the demand for wound care products in the second half of the forecast period.

Medical tapes and bandages will be adversely affected by the Covid-19 outbreak.

Wounded areas are traditionally treated with surgical tapes, antibiotic dressings, and dry dressings. In addition to being more effective than traditional dressings, advanced wound dressings require less healing time. The use of such garments cannot be applied to all wounds, particularly burns.

Traditional wound dressings are expected to grow slowly due to these limitations. There could be disruptions in these products’ supply chains worldwide due to lockdowns.

Due to the widespread use of these dressings in-home care settings, the Covid-19 pandemic is not expected to possess a big effect on the marketplace of medical tapes and bandages.

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Regional Outlook: the Medical and Bandages Market

In 2020, North America held the largest share of the market and is expected to grow considerably over the forecast period. Several key players in the region are anticipated to drive the market in the coming years due to rising road accidents, sports injuries, and increasing injuries in the workplace. Also driving the market are highly developed healthcare infrastructures and the availability of appropriately skilled professionals.

According to the forecast, Asia Pacific will experience the fastest growth rate. The presence of developing countries in the Asia Pacific, such as India, China, and Japan is expected to spur market growth. Further, this area will continue to see flourishing medical tourism due to an increase in demand for wound dressing products.

Key Players: the Medical and Bandage Market

The market for medical tapes and bandages is highly fragmented, with many small players on the global stage. The following are the key manufacturers of medical tapes and bandages on the global market:

Johnson & Johnson Services Inc.

Baxter International

Cardinal Health, Inc.

Medline Industries, Inc.

Derma Sciences, Inc.

3M Company

B Braun Melsungen AG

McKesson Corporation

Medtronic PLC

Paul Hartmann AG

Smith & Nephew PLC.

Market Segmentation: the Medical and Bandage Market

The report examines the global market for medical tapes and bandages based on Type, Application, and End User.

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Segmentation based on Application

Surgical Wounds

Ulcer Treatment

Burn Injury Treatment

Traumatic & Laceration Wounds

Sports Injury Treatment

Others (Diagnostics and IV Site Dressing)

Segmentation based on Type

Medical Tapes

Fabric Tapes

Plastic Tapes

Others (Paper Tapes)

Medical Bandages

Adhesive Bandage

Cohesive and Elastic Bandage

Others (Gauze Bandage)

Segmentation based on End-User

Hospitals

Clinics

Ambulatory Surgical Centers

Homecare Settings

What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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Updated : 2022-05-25 21:13 GMT+08:00