A prominent research firm, Cognizance Market Research added a cutting-edge industry report on “Global Adhesive Bandages Market”. The report studies the current as well as past growth trends and opportunities for the market to gain valuable insights during the forecast period from 2023 to 2030.
Global Adhesive Bandages Market Analysis:
According to cognizance market research, the global adhesive bandages market was valued at US$ 2,234.1 Million in 2022 and is anticipated to reach US$ 3,147.4 Million by the end of 2030 with a CAGR of 4.4% % from 2023 to 2030.
What is the Global Adhesive Bandages Market?
Adhesive bandages, also known as adhesive strips or plasters, are small medical dressings used for minor cuts, scrapes, and wounds. They consist of a nonstick pad in the center that covers the wound and is surrounded by an adhesive material that sticks to the skin surrounding the injury, securing the dressing in place. Adhesive bandages come in various sizes, shapes, and colors and can be made from different materials such as fabric, plastic, or silicone. They protect against dirt and bacteria and promote healing by keeping the wound clean and moist.
The global adhesive bandages market is primarily driven by an increase in the incidence rate of injuries caused by recreational activities and traffic accidents, as well as a rise in the frequency of household and occupational injuries. The introduction of new adhesive bandages for infection prevention, along with the growth of the global elderly population, is also propelling the market. E-commerce platforms and online pharmacies are gaining popularity among customers in emerging countries such as China, India, and Brazil due to the reductions and convenience they offer. Businesses in the adhesive bandages industry are making data-driven decisions and investing in innovative technologies. To expand their consumer base, market participants are focusing on various R&D initiatives and product marketing activities.
Global Adhesive Bandages Market Outlook:
The global adhesive bandages market is expected to exhibit consistent growth from 2022 to 2030. Several factors contribute to this expansion, including an increase in accidents and injuries, a heightened understanding of wound care procedures, and the widespread availability of adhesive bandages.
The market for adhesive bandages is also projected to rise in tandem with the world’s aging population. Elderly individuals are more susceptible to developing chronic wounds, necessitating the use of specialized wound care products, such as advanced adhesive bandages that facilitate faster healing.
However, the increasing acceptance of alternative wound care techniques, such as negative pressure wound therapy, may partially impede market expansion.
From a geographical perspective, North America is expected to lead the market due to the region’s robust healthcare infrastructure and the presence of major industry players. Nonetheless, the Asia-Pacific region is poised for significant growth due to factors like the burgeoning senior population, increasing disposable income, and expanding government initiatives aimed at enhancing healthcare facilities.
The market is categorized into two product segments: medical tapes and medical bandages, with the medical bandages segment dominating the market. Bandages are most commonly used to treat sports injuries, cover wounds, and provide support for fractures and splints. They are also utilized to immobilize body parts following surgery. Various materials, including plastic, fabric, synthetic materials, and elastic, are used to manufacture bandages. Bandages typically have an elastic or adhesive attachment for added support. Different types of bandages, such as orthopedic bandages, triangle bandages, elastic bandages, and muslin bandage rolls, contribute to the diversity of the bandage market.
The market is further divided into various applications, including Surgical Wounds, Traumatic Wounds, Ulcers, Sports Injuries, Burn Injuries, and Other Injuries. The surgical wound segment dominates the market, primarily driven by the increasing incidence of surgical site infections (SSI). Surgical wounds account for a significant proportion of SSI cases.
Based on end-users, the market is segmented into Hospitals, Ambulatory Surgery Centers, Clinics, Retail, and Others, with the hospital industry being the dominant sector. Hospitals commonly utilize dressings for surgical wound care and bone fractures, as they require specialized care not typically administered at home. The segment’s growth is attributed to the rising number of surgical procedures, leading to an increase in surgical wounds. Moreover, the prevalence of venous leg ulcers and diabetic foot ulcers contributes to the market’s growth, as medical tapes and bandages are widely used in the treatment of these conditions. This trend is expected to further drive sector expansion in the foreseeable future.
North America currently holds the dominant position in the market for medical bandages and tapes. The presence of numerous significant competitors in the region, coupled with an increase in sports injuries and traffic accidents, is expected to drive market growth. Additionally, the market is poised for considerable regional growth, thanks to the rising number of surgical procedures, hospital visits, a well-developed healthcare infrastructure, and favorable reimbursement and regulatory standards within the healthcare industry.
In contrast, Asia Pacific is expected to experience the fastest growth rate. The market in this region is anticipated to offer significant regional growth opportunities due to its substantial patient base and increasing demand for technologically advanced and reasonably priced healthcare solutions. The burden of chronic diseases and an aging population further contribute to the projected increase in demand for medical tapes and bandages in the Asia Pacific region in the coming years.
The report offers the revenue of the global adhesive bandages market for the period 2020-2030, considering 2020 & 2021 as a historical year, 2022 as the base year, and 2023 to 2030 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the Global Adhesive Bandages Market for the forecast period. The global adhesive bandages market report provides insights and in-depth analysis into developments impacting enterprises and businesses on a regional and global level. The report covers the global adhesive bandages market performance in terms of revenue contribution from several segments and comprises a detailed analysis of key drivers, trends, restraints, and opportunities prompting revenue growth of the global adhesive bandages market.
The report has been prepared after wide-ranging secondary and primary research. Secondary research included internet sources, numerical data from government organizations, trade associations, and websites. Analysts have also employed an amalgamation of bottom-up and top-down approaches to study numerous phenomena in the Global Adhesive Bandages Market. Secondary research involved a detailed analysis of significant players’ product portfolios. Literature reviews, press releases, annual reports, white papers, and relevant documents have been also studied to understand the global adhesive bandages market. Primary research involved a great extent of research efforts, wherein experts carried out interviews telephonic as well as questioner-based with industry experts and opinion-makers.
The report includes an executive summary, along with a growth pattern of different segments included in the scope of the study. The Y-o-Y analysis with elaborate market insights has been provided in the report to comprehend the Y-o-Y trends in the global adhesive bandages market. Additionally, the report focuses on altering competitive dynamics in the global market. These indices serve as valued tools for present market players as well as for companies interested in participating in the global adhesive bandages market. The subsequent section of the Global Adhesive Bandages Market report highlights the USPs, which include key industry events (product launch, research partnership, acquisition, etc.), technology advancements, pipeline analysis, prevalence data, and regulatory scenarios.
Global Adhesive Bandages Market Competitive Landscape:
There are several small and major firms participating in the highly fragmented Global Adhesive Bandages Market. The new strategies formed by companies revolve around accuracy and precision. The following are some of the major market participants:
The report explores the competitive scenario of the Global Adhesive Bandages Market. Major players working in the Global Adhesive Bandages Market have been named and profiled for unique commercial attributes. Company overview (company description, product portfolio, geographic presence, employee strength, Key management, etc.), financials, SWOT analysis, recent developments, and key strategies are some of the features of companies profiled in the Global Adhesive Bandages Market report.
Global Adhesive Bandages Market, by Product:
Global Adhesive Bandages Market, by Application:
Global Adhesive Bandages Market, by End-user:
Global Adhesive Bandages Market, by Region:
It was Valued at US$ 2,234.1 million in 2022.
It is projected to reach more than US$ 3,147.4 Million by 2030.
It is anticipated to be 4.4% from 2023 to 2030.
Trend: Technological Advancements, Customization and Personalization, Digital Health Integration, etc.
Driver: Rising Healthcare Expenditure, Aging Population, Growing Awareness etc.
Opportunities: Emerging Markets, The rise of e-commerce platforms, etc.
Challenges: Regulatory Compliance, Supply Chain Disruptions, etc.
3L Medicinal Products Group, 3M, B. Braun Melsungen AG, Beiersdorf AG, Cardinal Health, Dynarex Corporation, Ethicon Inc. (JOHNSON & JOHNSON), McKesson Corporation, Medtronic, Mölnlycke Health Care AB, Paul Hartmann AG
Adhesive Bandages Market
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