Medical Tapes & Bandages Market Insights
The global medical Tapes & Bandages market is expected to grow at a significant CAGR over the forecast period, mainly on account of growing incidence of surgeries, ulcers and diabetic foot. The market growth can be further attributed to rising geriatric population leading to increasing number of injuries and chronic diseases.
Moreover, the increasing prevalence of wound and associated infections are also projected to stimulate market growth. However, growing awareness towards advanced wound care which is more effective and less time consuming is expected to hinder market growth.
Medical Tapes & Bandages Market: Product Insights
On the basis of product type, the industry is segmented into Tapes & Bandages. Tape is further segmented into fabric, paper and plastic, whereas bandage is subdivided into gauze, adhesive and cohesive & elastic. The market for medical bandages is expected to occupy the highest share owing to growing number of surgical procedures and increase in medical casualties.
The market for fabric tapes is also expected to grow on account of its application in severe injuries and orthopedic medical cases.
Medical Tapes & Bandages Market: Vertical Insights
Among the industry verticals, the hospitals segment is expected to occupy the highest share in the medical tapes & bandages market. This growth is attributed to increasing number of surgical procedures which are performed in hospitals.
The market for ambulatory surgery center segment is expected to grow at an increasing rate over the forecast period to reduce pressure of surgeries on clinics and hospitals.
Medical Tapes & Bandages Market: Application Insights
Medical Tapes & Bandages Market finds its application in treatment of surgery, trauma & laceration, ulcer, sport and burns. The ulcer treatment is anticipated to dominate the market over the forecast period owing to increasing number of ulcer patients.
The surgical treatment segment is also likely to grow at a healthy rate due to increasing incidence of chronic heart diseases and other diseases associated with lifestyle disorders.
Medical Tapes & Bandages Market: Regional Insights
Asia Pacific occupied the largest share of this market for the past few years. This can be attributed to the increasing diabetic and aging population in this region. Moreover, the growing awareness towards wound infections is also anticipated to stimulate market growth. North America is projected to grow at a high CAGR on account of growing geriatric population in the region.
Medical Tapes & Bandages Market: End-Use Landscape
The end-use landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase medical tapes & bandages over the coming years. Some leading consumers of this market are UnitedHealth Group, Abbott, Medtronic, McKesson and Stryker.
Medical Tapes & Bandages Market: Market Share & Competitor Analysis
The global market for this product is expected to be significantly large due to the presence of numerous manufacturers. The key players include Medline Industries, Inc. (The U.S.), Merck 3M Company (The U.S.), Beiersdorf (Germany), Medtronic plc (Ireland), BSN Medical (Germany), Cardinal Health, Inc. (The U.S.), Nichiban Co., Ltd. (Japan), Nitto Denko Corporation (Japan), and Johnson & Johnson Consumer Inc. (The U.S.).
In December 2017, Navamedic ASA, a Norwegian pharmaceutical products company announced collaboration with Chemviron Carbon Ltd. and launched their product, Zorflex, a wound care contact dressing.
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