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Medical Tapes and Bandages Market, Size, Share, Outlook and Growth Opportunities 2019-2026

 



(Medical-NewsWire.com, March 27, 2020 ) Market Overview
• The Global Medical Tapes and Bandages Market is expected to grow at a CAGR of 3.7% during the forecasting period (2019-2026).
• Medical tapes are the pressure-sensitive tapes used in supporting the bandage or other wound dressings. Medical bandages are a cotton gauge cloth used for supporting medical devices like surgical dressing or splint. Medical tapes and bandages are used to maintain the moisture at the site of dressing, promotes wound healing, and provides mechanical & bacterial protection to the wound.

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Market Dynamics
• The major driving forces are the expansion and emergence of wound care management sector, increase in geriatric population, healthcare expenditure, and increasing incidence of chronic wounds, the prevalence of accidents and trauma cases, growing number of surgeries, healthcare awareness, and limited application of traditional wound dressings.
• The growing geriatric population is expected to boost the market. Many nations are facing challenges due to the ongoing and the increasing demographic shift in age among their people. As per the Department of Economic and Social Affairs Population Division of UN, 2017, the world's population who are 60 years age will double and those of 80 years age will triple over the next 30 years. As per the WHO, the number of people of age 65 or older is expected to grow to 1.5 billion in 2050, with most of the increase in the developing countries. Thus, the rising geriatric population, who are more prone to chronic infections, are driving the market.
• The increasing incidence of chronic wounds is expected to boost the market. For instance, according to Swift Medical Inc., up to 2 % of the population in developed countries suffer from chronic wounds. Also, each year, more than 305 million acute, traumatic, and burn injuries are recorded and treated globally. Thus, the growing incidence of chronic wounds, leading to increased use of medical tapes and bandages is driving the market.
• The prevalence of accidents and trauma cases is expected to boost the market. For instance, according to WHO, approximately 1.35 million people die each year as a result of road traffic crashes. Road injuries are the leading cause of death for children and young adults aged 5-29 years. Thus, the growing number of road injuries is driving the market.
• Also, an increasing number of Healthcare Acquired Infections (HAIs) is driving the manufacturers and hospitals to seek newer methods for reducing infection. For instance, in American hospitals alone, the CDC has reported that HAIs accounts for about 1.7 million infections and 99,000 deaths every year. Of these infections, 32 % of all healthcare-acquired infection are urinary tract infections, 22 % are surgical site infections, 15 % are pneumonia (lung infections), and 14 % are bloodstream infections. Hence, the use of medical tapes is increasing that can help decrease the incidence of infections. Major players are mainly focusing on strengthening their medical bandages and tapes product portfolio. Hence, companies are launching new products with unique features for specific purposes.
• The increasing number of surgeries is expected to boost the market. For instance, according to the American Society of Plastic Surgeons ASPS annual plastic surgery statistics report, there were around 17.7 million surgical and minimally-invasive cosmetic procedures performed in the US in 2018, a number that has increased over the past five years. Thus, the increasing number of surgeries, leading to increased use of medical tapes and bandages is driving the market.
• However, the rising awareness about advanced wound care products, government regulations related to the safety and efficacy of the medical tapes and bandages, and lack of proper guidelines on using medical tapes and bandages are expected to hinder the market growth.
• The rising awareness about the advanced wound care products is likely to restrain the market. For instance, on June 3, 2019, Healogics, Inc., has sponsored the 6th annual Wound Care Awareness Week from June 3, 2019, to June 7, 2019. Throughout this week, Healogics team members worked together to shed light on the chronic wounds and brought awareness to the advanced wound care options available. Unfortunately, the incidence of chronic wounds is expected to rise over the next decade, making awareness and advanced wound care more critical.

Market Segmentation
• The medical bandages segment, by product type, is categorized into gauze bandage, adhesive bandage, cohesive and elastic bandage, and other bandages.
• Medical Bandages are expected to emerge as one of the top-selling products in the global medical tapes and bandages market. This is owing to the recent US FDA approvals and new product development of bandages by universities and healthcare organizations, the rising number of surgical procedures, and rising medical conditions. For instance, in November 2018, Global Medical Technologies released Comfort Release that uses a patented adhesive technology that sticks when you need and releases when you don’t. In February 2018, researchers from NUST MISIS University in Russia had developed biodegradable bandages to accelerate the regeneration of damaged tissues. Thus, the presence of new product launches is driving the market.
• By product type, the medical tapes segment is categorized into fabric tape, paper tape, plastic tape, and other tapes. The medical tapes are also likely to witness growth during the forecast period, owing to the recent product launches. On April 1, 2019, 3M has added 3M extended wear medical transfer adhesive, 4075 to its lineup of advanced adhesives for medical devices. 3M medical transfer adhesive, 4075 offers excellent initial skin adhesion with up to 14-day wear time, depending on the backing material used. Thus, new product launches are driving the market.
• By application, the medical tapes and bandages market is segmented into surgical wounds, traumatic and laceration wounds, burns, ulcers, and other wounds.
• Medical bandages and tapes are expected to find the most extensive application in the treatment of surgical wounds during the forecast period. This is owing to the increasing incidence of surgical site infections. For instance, the Loyola University Health System reported that SSIs are the most common and costly of all hospital-acquired infections, accounting for 20 % of all hospital-acquired infections. They occur in an estimated 2 % - 5 % of patients undergoing inpatient surgery. The estimated annual incidence of SSIs in the US ranges from 160,000 to 300,000, and the estimated yearly cost ranges from $3.5 billion to $10 billion. On average, a surgical site infection increases the hospital length of stay by 9.7 days. Thus, the increasing incidence of surgical site infections, leading to increased use of medical tapes and bandages is driving the market.
• The burns segment is expected to boost the market, owing to the increasing incidence of burns. According to the WHO, an estimated 180 000 deaths occur each year due to the burns in low and middle-income countries. Thus, there is a need to launch different medical tapes and bandages for healing them. Thus, the rising number of burns leading to increasing demand for medical tapes and bandages are driving the market.
• By end-user, the medical tapes and bandages market is segmented into hospital, clinics, ambulatory surgical centers, and others.
• The Hospitals segment is expected to boost the market over the forecast period. This is owing to the increasing number of treatments and surgeries being conducted in the hospitals is one of the factors leading to the rise in the use of bandages and medical tapes.

Geographical Analysis
• Geographically, the global medical tapes and bandages market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
• North America is dominating the global medical tapes and bandages market in 2018 and is estimated to hold significant market size over the forecast period (2019-2026) owing to the dominance in a large number of medical tapes and bandage manufacturers and an increase in chronic wounds across the region.
• The increasing number of chronic wounds is expected to boost the market over the forecast period. For instance, according to the American College Of Surgeons in 2017, in the US, 6.5 million patients were affected by chronic wounds and expected to increase as the population increases. According to KCI a wound management company in 2017 said that 24% Medicare readmissions are wound-related, 15% U.S. patients discharged have wounds, and 975k people are affected by stage iii/iv pressure injuries and 900k of diabetic foot ulcers annually. Thus, the increasing number of chronic wounds in the region is driving the market.

Competitive Landscape
• The major players operating in the global medical tapes and bandages market are 3M Healthcare, Johnson & Johnson, Smith & Nephew plc, Cardinal Health, Inc., Medline Industries, Inc., Paul Hartmann Pty Limited, Derma Sciences Inc., BSN Medical, Dynarex Corporation, and Lohmann & Rauscher.
• The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the medical tapes and bandages market globally. For instance,
• On August 19, 2019, Global Biomedical Technologies (GBT), has entered into an agreement with MTMC Associates to promote its Comfort Release portfolio.
• In June 2019, Essity announced the final step in integrating BSN medical India into the Essity organization. Following the global acquisition of BSN medical in April 2017, the business in India continued its journey as Essity India, with a sharp focus on the medical and healthcare solutions market.
• On 31 January 2019, Lohmann & Rauscher (L&R), introduced the latest innovations in the field of chronic wounds during its presence at this year's edition of Arab Health, the largest healthcare event in the MENA region, which was from January 28, 2019 to January 31, 2019 at the Dubai World Trade Centre (DWTC).
• On May 9, 2017, MedLine Industries, brand CURAD has launched the CURAD SoothePlus with ARM & HAMMER Baking Soda for Enhanced Wound Care.

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