Who are the Key Players in the Medical Tapes and Bandages Market?

Medical Tapes and Bandages Industry Overview

The global medical tapes and bandages market size was valued at USD 9.05 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 3.41% from 2022 to 2030. The growth of the market is attributed to the increasing prevalence of chronic diseases such as diabetes, cancer, and other autoimmune diseases, the increasing number of road accidents, and technological advancements, coupled with the increasing adoption of medical tapes and bandages in various healthcare settings such as hospital, clinics, and others.

For instance, according to the 3M company in 2019, 69% of clinicians use medical tape multiple times per day which is expected to boost the market growth. During the outbreak of COVID-19 disease, face masks that are recommended to be used to prevent transmission of the infection can cause serious skin injuries, which may require several wound care products such as medical tapes, bandages, and others for treatment. Thus, the COVID-19 pandemic has shown a positive impact on the market growth owing to its increased demand for critical care capacity and to support hospitals in the fight against COVID-19.

Gather more insights about the market drivers, restraints, and growth of the Global Medical Tapes And Bandages market

The global increase in the incidence of chronic diseases such as cancer, diabetes, and other autoimmune diseases is expected to drive market growth. Moreover, factors such as the adoption of unhealthy & sedentary lifestyles, antimicrobial resistance, smoking, and alcohol consumption are some of the other major factors contributing to the rise in the prevalence of non-communicable diseases. Furthermore, according to the WHO in April 2021, Non-communicable diseases (NCDs) claim the lives of 41 million people each year, accounting for 71% of all deaths worldwide.

The market is predicted to grow during the forecast period due to an increase in the number of surgeries and trauma cases around the world. Trauma is a major cause of death worldwide, with around 5 million people dying every year as a result of traumatic injury. According to the Association for Safe International Road Travel (ASIRT) 2018, every year, between 20 million to 50 million individuals are injured or disabled in traffic accidents, with 1.35 million related deaths. According to the WHO, road traffic injuries are estimated to be the ninth leading cause of mortality globally.

Technological advancements, coupled with product launches, to streamline the procedures and make them safer & more cost-effective, are among the key factors contributing to market growth. For instance, in May 2019, 3M entered into a definitive agreement to acquire the advanced wound care and specialty surgical solutions segments of Acelity and its KCI Subsidiaries, with an aim to expand the company’s product portfolio which is expected to boost the market growth in the near future.

Browse through Grand View Research's Medical Devices Industry Research Reports.

Medical Adhesive Tapes Market - The global medical adhesive tapes market size was valued at USD 750.9 million in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2023 to 2030.

Traditional Wound Management Market - The global traditional wound management market size was valued at USD 6.2 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 3.7% from 2023 to 2030.

Medical Tapes and Bandages Market Segmentation

Grand View Research has segmented the global medical tapes and bandages market based on product, application, end-use, and regions:

Medical Tapes and Bandages, Product Outlook (Revenue USD Million, 2018 - 2030)

• Medical Tapes
• Medical Bandages

Medical Tapes and Bandages, Application Outlook (Revenue USD Million, 2018 - 2030)

• Surgical Wound
• Traumatic Wound
• Ulcer
• Sports Injury
• Burn Injury
• Other Injuries

Medical Tapes and Bandages, End-Use Outlook (Revenue USD Million, 2018 - 2030)

• Hospitals
• Ambulatory Surgery Centers
• Clinics
• Retail
• Others

Medical Tapes and Bandages, Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)

Market Share Insights

September 2021: Lohmann and Soest Medical Group (SMG) agreed that SMG will take over Lohmann's reusable drape tape business. This acquisition includes drape tapes such as DuploMED 2806 and DuploMED VP6141 which are aimed at the reusable surgical drape market, as well as Lohmann's global client base for these tapes.

April 2019: Smith & Nephew PLC purchased Osiris Therapeutics, Inc. with the goal of speeding up the development of its medical bandages and tapes product line, thus boosting its client base and market reach. 

Key Companies profiled:

Some prominent players in the global medical tapes and bandages market include:

• Smith & Nephew PLC
• Mölnlycke Health Care AB
• Ethicon Inc. (JOHNSON & JOHNSON)
• Medtronic
• 3M
• Beiersdorf AG
• Urgo Medical
• Dynarex Corporation
• Winner Medical Group, Inc.
• McKesson Corporation
• Cardinal Health
• 3L Medicinal Products Group
• Braun Melsungen AG
• Paul Hartmann AG

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