Medical Tapes and Bandages Market by Product (Tapes (Fabric, Paper, Plastic), Bandage (Gauze, Adhesive, Cohesive & Elastic)), Application (Surgery, Trauma & Laceration, Ulcer, Sport, Burns), End User (Hospitals, ASCS, Clinics, Homecare) - Forecast to 2022
Medical tapes and medical bandages market projected to grow at a CAGR of 3.8%
The global medical tapes and medical bandages market is projected to reach USD 7.39 billion by 2022 from USD 6.13 billion in 2017, at a CAGR of 3.8%. Factors such as the rising number of surgeries, increasing incidence of chronic wounds, and rising geriatric population are driving the growth of the medical tapes and medical bandages market. On the other hand, the rising awareness about advanced wound care products is expected to hinder the growth of the market to a certain extent.
Gauze bandages segment is expected to witness the highest growth during the forecast period
In 2017, by types of bandages, the largest segment of medical tapes and medical bandages market, the gauze bandage segment is expected to register the highest growth during the forecast period due to the large number of applications these medical bandages are used in. These applications – mainly surgical procedures and ulcer treatments consume a large number of gauze bandages.
The paper tapes segment is estimated to grow at the fastest rate during forecast period
In 2017, on the basis of types of tapes, which is the fastest growing segment in the medical tapes and medical bandages market, the paper tapes segment is expected to grow at the fastest rate during the forecast period. This positive growth is driven by the fact that the strength of these tapes is equivalent to fabric tapes and they also have a ‘gentle on skin’ property which allows their use in cases where frequent redressing is required.
Asia-Pacific is expected to register the highest growth during the forecast period
Geographically, the medical tapes and medical bandages market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to register the highest growth rate during the forecast period mainly due to rising population, which is aging and affected with diabetes making them prone to chronic diseases and conditions which require surgical intervention. Therefore, it is expected that an increase in a number of surgical procedures and the large patient pool will drive the growth of this market.
Breakdown of supply-side primary interviews: by company type, designation, and region:
• By Company Type - Tier 1 – 25%, Tier 2 – 30% and Tier 3 – 45%
• By Designation – C level – 26%, Director level – 30%, Others – 44%
• By Region – North America - 34%, Europe – 26%, APAC – 23%, RoW – 17%
The global medical tapes and medical bandages market is competitive, with a large number of global and local players. In 2016, Merck 3M Company (U.S.), Medtronic plc (Ireland), Johnson & Johnson Consumer Inc. (U.S.), Medline Industries, Inc. (U.S.), BSN Medical (Germany), Cardinal Health, Inc. (U.S.), Beiersdorf (Germany), Nitto Denko Corporation (Japan), and Nichiban Co., Ltd. (Japan) were some of the leading players in the global medical tapes and medical bandages market. In the past three years, these companies adopted product launches, strategic acquisitions, agreements, collaborations & partnerships, and expansions as their key business strategies to ensure market dominance.
This report studies the medical tapes and medical bandages market based on product type, application, and end user. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for the market leaders. Furthermore, the report analyzes micromarkets with respect to their growth trends, prospects, and contributions to the total market. The report forecasts the revenue of the market segments with respect to four main regions.
Reasons to Buy the Report:
This report focuses on various levels of analysis—industry trends and company profiles, which together comprise and discuss basic views on the competitive landscape; emerging and high-growth segments of the medical tapes and medical bandages market; and high-growth regions and countries and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn help firms garner greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned strategies to strengthen their market shares.
The report provides insights on the following pointers:
• Market Penetration: The report analyzes the medical tapes and medical bandages market based on product type, end user, application, and region
• Product Development: Detailed insights on the research and development activities and product launches in the medical tapes and medical bandages market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various medical tapes and medical bandages products across geographies
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the medical tapes and medical bandages market
• Competitive Assessment: In-depth assessment of strategies, products, distribution networks, and manufacturing capabilities of leading players in the medical tapes and medical bandages market