Medical Tapes and Bandages Market Size Worth $12.45 Billion By 2030 | CAGR: 3.5%

The global medical tapes and bandages market size is expected to reach USD 12.45 billion by 2030, according to a new study by Polaris Market Research. The report “Medical Tapes and Bandages Market Share, Size, Trends, Industry Analysis Report, By Product (Adhesive, Gauze, Elastic, Cohesive, Others); By Application; By End-Use; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Medical bandages are a strip or a piece of cloth that is used to hold a dressing applied to the wound in place. Furthermore, medical bandages are also used to offer compression to stop bleeding of a wound or reduce local swelling associated with an injury.

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In addition, there are different types of medical bandages available in the market that serve different functions. For instance, cohesive bandages are used to apply pressure to stop bleeding, whereas gauze bandages are wrapped around the wound to hold the dressing in place. The rapid rise in road accidents and trauma cases led to a surge in the number of patients admitted to healthcare facilities for the treatment of wounds, leading to a surge in demand for medical bandages. The rise in the aging population, increase in surgical procedures, and introduction of new products by market players supports the growth of the global market.

The growth of the global market is primarily driven by a rise in healthcare expenditure worldwide. In addition, the rise in demand for medical care serves as an opportunity for key players in the future. Moreover, several governments across the world are establishing a greater number of healthcare facilities. This is estimated to lead to the easy availability of medical services, which is expected to serve as an opportunity for the key players of the medical tapes and bandages industry.

Medical Tapes and Bandages Market Report Highlights

• The market for gauze bandages segment is expected to hold a significant share in 2021. Gauze bandages are economical as compared to other bandage types. Gauze bandages are the most widely used bandage type in various surgical procedures
• Surgical wounds accounted for the largest market share. This is due to the surge in healthcare expenditure and rise in prevalence of chronic disorders that require surgery for treatment
• The hospitals segments is expected to be the fastest growing segment during the forecast period. This is due to surge in the number of surgical procedures performed and rise in the number of hospitals across the world
• Asia Pacific is expected to experience significant growth during the forecast period owing to increasing geriatric population and rising healthcare spending in the region
• The global market is highly competitive owing to the existence of large market players with global presence including 3M Company, B. Braun Melsungen AG, Beiersdorf AG, Cardinal Health Inc., Coloplast A/S, Essity, Johnson & Johnson

Polaris Market Research has segmented the medical tapes and bandages market report based on product, application, end-user, and region.:

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

• Adhesive
• Gauze
• Elastic
• Cohesive
• Others                                    

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

• Burns
• Surgical Wounds
• Traumatic & Laceration Wounds
• Ulcer
• Sports Injuries
• Other Wounds

Medical Tapes and Bandages, End-User Outlook (Revenue - USD Billion, 2018 - 2030)

• Clinics
• Hospitals
• Ambulatory Surgical Centers

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

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa