Adhesive Bandages Market size is estimated to reach $3.9 Billion by 2025, growing at a CAGR of 3.6% during the forecast period 2020-2025. An adhesive bandage is a small medical dressing used for injuries not serious enough to require a full-size bandage. They are also known for the genericized trademarks of Band-Aid or Elastoplast. These bandages protect the wound from friction, damage, and dirt. Increase in the number of recreational events, rising number of skin diseases, growing demand for surgical procedures, increase in the number of road accidents, and rise in the prevalence rate of injuries are the factors that are set to drive the growth of the global market for the forecast period 2020-2025.
Adhesive Bandages Market Segment Analysis - By Product Type
Based on the Product type, Medicated Bandages segment held the largest share in 2019 owing to the factors such as rise in the number of injuries, increase in the number of chronic diseases, growing demand for surgical procedures, increase in the efficacy of medicated bandages, rise in the aging population and increase in the number of road accidents.
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Adhesive Bandages Market Segment Analysis - By Application
Based on the Application, Wound Management segment held the largest share in 2019 owing to the factors such as growing healthcare infrastructure, rise in the geriatric population, rise in the number of chronic diseases, increase in the healthcare spending and rise in the number of surgeries.
Adhesive Bandages Market Segment Analysis - By Geography
Based on the Geography, Asia-Pacific held the largest share in 2019. The growth in this segment is owing to the factors such as increase in the number of skin diseases, increase in the investment by the major companies and rise in the number of chronic diseases. North America is estimated to be the fastest growing segment owing to the factors such as increase in the aging population, increase in the product launches based on the needs of the customer, growing demand for surgical procedures and increase in the number of sports injuries.
Adhesive Bandages Market Drivers
Increase in the number of recreational events and rise in the aging population
The increase in the number of recreational events is estimated to enhance the growth of Adhesive Bandages Market. Rise in the aging population and increase in the number of chronic diseases are also the factors which enhance the growth of Adhesive Bandages Market.
Increase in the demand for surgical procedures and increase in the product launches
There is a rapid rise in the demand for surgical procedures. This led to rapid increase in the growth of Adhesive Bandages Market. Increase in the product launches based on the needs of the customers is also estimated to enhance the growth of the Adhesive Bandages Market.
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Adhesive Bandages Market Challenges
The increasing demand for liquid bandage sprays or spray plasters
The increasing demand for liquid bandage sprays or spray plasters owing to the immediate protection and convenience for smaller wounds is said to reduce the growth of the Adhesive Bandages Market.
Adhesive Bandages Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Adhesive Bandages Market. Key companies of this market are The 3M Company, Johnson and Johnson, Smith and Nephew Pty Ltd, Cardinal Health Inc, Silverlon, Dynarex Corporation, Sawyer Products Inc, ConvaTec Inc, Nitto Denko Corporation, Beiersdorf AG among others.
Acquisitions/Product Launches:
In 2018, ConvaTec Inc has launched ConvaMax adhesive bandage, which is used for the management of highly exuding wounds, including leg ulcers, pressure ulcers, diabetic foot ulcers and dehisced surgical wounds.
In 2020, Johnson and Johnson’s Band-Aid has launched new shades of adhesive bandages to suit different skin tones. The plasters were launched in light, medium and deep shades of brown and black skin tones.
Key Takeaways
Geographically, Asia-Pacific Adhesive Bandages Market accounted for the highest revenue share in 2019 and it is poised to dominate during the forecast period 2020-2025 owing to the high demand.
Rise in the aging population and increase in the number of chronic diseases is likely to aid in the market growth of Adhesive Bandages Market.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Adhesive Bandages Market report.
The increasing number of sports injuries and increase in the product launches based on the needs of the customer are creating higher opportunities for the growth of market for the forecast period 2020-2025.
Related Reports :
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https://www.industryarc.com/Report/18339/wound-care-treatment-management-market.html
B. Elastomers Market
https://www.industryarc.com/Report/18133/elastomers-market.html
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