Medical Tapes and Bandages Market Overview:
The 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. 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.
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COVID-19 Impact on the global Medical Tapes and Bandages Market
The COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 moved from a regional crisis to a global pandemic in just a matter of a few weeks. The World Health Organization (WHO) declared COVID-19 as a pandemic on March 11, 2020. Government agencies announced special financial aid toward the development of preventive and curative drugs, the purchase of critical care medical devices, and the fast-track approval of diagnostic tests. Various organizations across the globe, such as the Bill and Melinda Gates Foundation (BMGF) and Wellcome Trust, also came together to accelerate and strengthen the efforts to fight the COVID-19 pandemic.
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Market Segmentation:
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 tapes and 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 and bandages 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.
Key Players:
Prominent players in the medical tapes and 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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