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Global Medical Tapes and Bandages Market Expected to Grow at a CAGR of 4% between 2021 and 2026.

According to a new report by EMR titled, 'Global Medical Tapes and Bandages Market Report and Forecast 2021-2026', the global medical tapes and bandages market reached a value of almost USD 6.7 billion in 2020. The market is further expected to grow at a CAGR of 4% in the forecast period of 2021-2026 to reach a value of around USD 8.3 billion by 2026.

The global medical tapes and bandages market is driven by the rise in the number of surgeries and the geriatric population globally. The Asia Pacific region is predicted to witness the fastest growth rate in the forecast period as a result of increasing ageing and diabetes-prone population.

Some of the major players within the medical tapes and bandages market include Johnson & Johnson (NYSE: JNJ) and Smith & Nephew Plc (LON: SN). Johnson & Johnson invented the first-ever commercial first aid kit more than a century ago and later ventured into producing innovative and designed band-aids to provide assistance in the treatment of war wounds, snake bites, and so on and so forth. The company has since manufactured the first aid kit and recently, i.e., in 2018, it has provided customers with the liberty to build a customised first aid kit. This will offer convenience to customers as they can personalise the kit to include waterproof bandages and pain relievers, etc. as per their potential requirements. These adhesive medical tapes and bandages are important to reduce the risk of infection as well as the formation of scars.

Market Analysis by Product Type, Application, End Use, and Region:

  • The global medical tapes and bandages market, on the basis of product type, is bifurcated into medical tapes and medical bandages. Medical tapes are further divided into fabric tape, paper tape, plastic tape, and others, whereas, medical bandages are further divided into gauze bandage, adhesive bandage, and cohesive and elastic bandage, among others.
  • On the basis of application, the market is divided into surgical wounds, traumatic and laceration wounds, burns, ulcers, and sport injuries segments.
  • Based on end-use, the market is segmented into hospitals, clinics, and ambulatory surgical centres, among others.
  • Regionally, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global medical tapes and bandages market is driven by the rapid growth of the medical bandages segment. 
  • The rising ageing population, the growing cases of accidents, and an increase in medical incidents involving surgery are aiding the market growth of medical tapes and bandages.
  • Owing to the rising number of patients suffering from ulcers due to the increasing diabetic population, the ulcers segment is expected to grow at the fastest rate over the forecast period, further enhancing the market growth.
  • The rise in the hospitals segment as a result of the increasing number of surgical procedures conducted in hospitals is expected to invigorate the market growth of medical tapes and bandages.
  • The Asia Pacific region, which will grow at the fastest rate in the forecast period due to the rising ageing and diabetes-prone population will support the growth of global medical tapes and bandages market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global medical tapes and bandages market for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) markets for the product types, applications, end-uses, and regional markets of medical tapes and bandages. 
  • It assesses the market based on the SWOT and Porter’s Five Forces models.

3m Healthcare, Johnson & Johnson, Smith & Nephew Plc, Medtronic Plc., Cardinal Health Inc., Medline Industries, Inc., Baxter International Inc., and Derma Sciences Inc., among others, are the key players in the global medical tapes and bandages market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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