Medical tapes and bandages are essential tools used in healthcare settings for wound care, surgery, and other medical procedures. They are used to secure and hold medical devices, dressings, and other materials in place. The global medical tapes and bandages market has been growing due to the increasing incidence of chronic diseases and injuries, rising geriatric population, and advancements in wound care technology.
Market Size:
Medical Bandages are likely to emerge as one of the top-selling products in the global market for medical tapes and bandages. Medical bandages are projected to surpass US$ 5,800 million revenue by 2022 end. Meanwhile, medical tapes are also likely to witness growth during 2017-2022.
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Market Segmentation:
The global medical tapes and bandages market is segmented based on product type, application, end-user, and region.
Based on product type, the market is segmented into medical tapes and medical bandages. The medical tapes segment held the largest share of the market in 2020 due to their widespread use in wound care, surgical procedures, and other medical applications. The medical bandages segment is expected to grow at the highest CAGR during the forecast period due to the rising demand for compression bandages and the increasing prevalence of chronic wounds.
Based on application, the market is segmented into surgical wounds, traumatic wounds, ulcers, sport injuries, and others. The surgical wounds segment held the largest share of the market in 2020 due to the increasing number of surgeries and the rising demand for advanced wound care products. The ulcers segment is expected to grow at the highest CAGR during the forecast period due to the increasing prevalence of chronic wounds, such as diabetic foot ulcers and pressure ulcers.
Based on end-user, the market is segmented into hospitals, clinics, home care settings, and others. Hospitals held the largest share of the market in 2020 due to the high patient footfall and the increasing demand for wound care products in hospital settings. Home care settings are expected to grow at the highest CAGR during the forecast period due to the rising demand for home healthcare services and the increasing number of home care facilities.
Regional Analysis:
The global medical tapes and bandages market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America held the largest share of the market in 2020 due to the high prevalence of chronic diseases and injuries in the region, the increasing adoption of advanced wound care products, and the presence of key market players in the region. Asia Pacific is expected to grow at the highest CAGR during the forecast period due to the rising geriatric population, the increasing prevalence of chronic diseases and injuries, and the growing demand for wound care products.
Key Players:
The global medical tapes and bandages market is highly competitive, with the presence of several market players. Some of the key players in the market are 3M Company, Johnson & Johnson Services, Inc., B. Braun Melsungen AG, Cardinal Health, Inc., Medtronic plc, Smith & Nephew plc, and Beiersdorf AG.
Conclusion:
In conclusion, the global medical tapes and bandages market is expected to grow at a significant rate during the forecast period due to the increasing incidence of chronic diseases and injuries, the rising geriatric population, and advancements in wound care technology. Medical tapes and surgical wounds are the major segments of the market. North America held the largest share of the market in 2020, while Asia Pacific is expected to grow at the highest CAGR during the forecast period. The market is highly competitive