Medical Tapes and Bandages Market Size Report | Trends, Growth & Share 2031

Coverage: Medical Tapes and Bandages Market covers analysis By Product (Medical Bandages and Medical Tapes), Application (Surgical Wound Treatment, Ulcer Treatment, Traumatic Wound Treatment, Sports Injury Treatment, and Others), End User (Hospitals, Ambulatory Surgery Centers, Clinics, and Homecare Settings), and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPHE100001253
  • Category : Medical Device
  • Status : Upcoming
  • No. of Pages : 154
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[Research Report] The Medical Tapes and Bandages Market Size is expected to grow from US$ 8.63 billion in 2022 to US$ 12.29 billion by 2030; it is estimated to register the growth rate of 4.5% over the forecast period.

Market Insights and Analyst View:

Medical tapes and bandages are products used to secure and protect wounds, injuries, and surgical incisions. These products include adhesive tapes, cohesive bandages, compression bandages, elastic bandages, and gauze dressings. The medical tapes and bandages market is primarily driven by the increasing prevalence of chronic disorders and injuries, rising demand for wound care products, and a surge in the geriatric population. Additionally, Technological advancements in medical tapes and bandages have led to the development of products with improved adhesion, flexibility, and breathability. Moreover, increasing product launches and strategic development by market players led to the growth of medical tapes and bandages. 

Growth Drivers and Challenges:

According to the American College of Surgeons, approximately 1–2% of people globally are likely to experience a chronic wound once in their lifetime. Similarly, the Centers for Disease Control and Prevention (CDC) estimates that annually, ~385,000 sharp injuries occur among healthcare workers in the US, and the number is likely to reach up to 800,000 injuries annually. Besides sharp injuries, workplace injuries or occupational injuries are increasing worldwide. Poor working conditions are the major cause of the rise in chronic wounds. As per the International Labor Organization, ~2.3 million people suffer from work-related accidents every year. These wounds affect patients’ health and overall quality of life. The burden of chronic wounds eventually relates to the need for advanced wound care management to reduce the financial burden of national healthcare systems. Various countries spend significant amounts on treating injuries and avoiding associated risks. For instance, the US healthcare system spends over US$ 25 billion annually on treating wounds and related complications. Therefore, the demand for medical tapes and bandages is increasing with a surge in the prevalence of chronic wounds globally.

Furthermore, the number of cardiovascular, orthopedic, general, cancer, and gynecological surgeries performed in hospitals is increasing rapidly worldwide. For instance, the European Commission said that ~ 1.14 million cesarean sections were performed in the European region in 2021. Furthermore, the surge in the geriatric population is one of the major factors responsible for severe health conditions leading to surgical treatment. Surgeries for hernias and cataracts are more common among elderly people. Furthermore, aesthetic surgeries are more common in the entertainment industry. These surgeries are performed on individuals who require the replacement or reconstruction of a body part due to deformity or injury. Therefore, the increasing number of surgeries performed at hospitals or other healthcare centers is causing the demand for medical tapes and bandages.

However, increasing awareness about technologically advanced wound care products is expected to hamper the medical tapes and bandages market growth. The conventional medical tapes and bandages take a long time to heal the wound, and sometimes it gets infected. Advanced wound care products maintain favorable conditions, expedite healing, and offer advantages above conventional medical tapes and bandages. Thus, the factors discussed above will likely hinder the growth of medical tapes and bandages.

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Medical Tapes and Bandages Market: Strategic Insights

medical-tapes-bandages
Market Size Value inUS$ 8.63 billion in 2022
Market Size Value byUS$ 12.29 billion by 2030
Growth rateCAGR of 4.5% from 2022 to 2030
Forecast Period2022-2030
Base Year2022
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Report Segmentation and Scope:

The “Global Medical Tapes and Bandages Market Size” is segmented based on product, application, end-user, and geography. Based on product, the medical tapes and bandages market is bifurcated into medical bandages and medical tapes. Based on application, the medical tapes and bandages market is categorized into ulcer treatment, surgical wound treatment, sports injury treatment, traumatic wound treatment, and others. Based on end users, the medical tapes and bandages market is categorized into hospitals, ambulatory surgery centers, clinics, and home care settings. The medical tapes and bandages market based on geography is fragmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America).

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Segmental Analysis:

Based on Product, the medical tapes and bandages market size is bifurcated into medical bandages and medical tapes. In 2022, the medical bandage segment held the larger market share; however, the medical tapes segment is estimated to register a higher growth rate during 2022-2030, owing to the increase in wounds. Bandages are mainly used for wound dressing, sports injuries, and fractures, preventing infections and expediting healing.

Medical Tapes and Bandages Market, by Product – 2022 and 2030

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Based on application, the medical tapes and bandages market is segmented into surgical wound treatment, ulcer treatment, traumatic wound treatment, sports injury treatment, and others. In 2022, the surgical wound treatment segment held the largest market share; however, the ulcer treatment segment is expected to exhibit a significant growth rate during the coming years, owing to the increasing prevalence of chronic diseases, particularly diabetes, contributing to market growth.

Based on end users, the medical tapes and bandages market is categorized into hospitals, ambulatory surgery centers, clinics, and home care settings. In 2022, the hospital segment held the major market share and is expected to register the fastest growth rate from 2022 to 2030, owing to the increase in surgical procedures in hospitals for various chronic conditions, which is expected to support the overall market growth.

Regional Analysis:

The medical tapes and bandages market encompasses five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In 2022, North America held the largest medical tapes and bandages market share, closely followed by Europe, and Asia Pacific is estimated to register the highest CAGR during the forecast period. The major growth factors for the North American market are the surge in the geriatric population and the increasing number of surgical procedures performed annually in the region. The US accounts for the major market share in North America owing to the increase in surgical procedures and wound care in the US. According to the American Joint Replacement Registry (AJRR), it is estimated that by 2030, ~ 3.48 million people will be requiring knee replacement. The estimates are calculated by considering the baby boomers reaching old age in the United States.

Total Joint Replacement (TJR) is one of the most performed elective surgical procedures in the U.S. As per the American Academy of Orthopedic Surgeons (AAOS), by 2030, primary total hip replacement (THR) is projected to grow 171%. Primary total knee replacement (TKR) is expected to increase up to 189% for a projected 635,000 and 1.28 million procedures, respectively.

Meanwhile, some players are teaming up with start-up companies to develop joint ventures to strengthen their positions in the market. For instance, in March 2022, Medline and Hologenix partnered on a new CURAD brand of orthopedic products powered by CELLIANT infrared technology. This partnership substantially increases the commitment to expand the use of infrared in the orthopedic soft goods market.

However, Asia Pacific is the fastest-growing region in the global medical tapes and bandages market. The market in this region is expected to increase significantly in countries such as China, Japan, and India. The market's growth is attributed to the rising number of plastic surgeries and increasing demand for medical tourism in developing countries such as India and China. Moreover, the increase in surgical procedures and the surge in healthcare expenditure are expected to fuel market growth during 2022-2030. China accounts for the largest market share, and India is expected to exhibit the highest growth rate owing to the increasing number of surgical procedures and medical tourism in the country. The number of plastic surgeries performed in India is increasing day by day. According to the World Population Review report, ~ 370,656 plastic surgeries were performed in India during 2023. Additionally, China's changing attitudes toward self-image, growing wealth, technological advancements, and obsession with celebrity culture led to an increase in surgical procedures. In China, beauty is considered an advantage in the competitive mid-level workplace as applicants are often required to provide a photograph with their application.

Apart from Plastic surgeries, Orthopedic, and general surgeries are also propelling the market for medical tapes and bandages in China. According to the Economist Intelligence report, China has experienced a 20% increase in surgical volume in 2021 compared to 2020.

Moreover, The Lancet Commission for Global Surgery estimates that ~5,000 surgeries are required to reduce the surgical burden of disease for 1,00,000 people in low and middle-income countries, like India. As per the Ministry of Health and Family Welfare report, about two crore surgeries (which require hospitalization and general anesthesia) were conducted in 2020, and C-section was the most performed surgery. Out of the two crore surgeries done in 2020, 80 lakhs were general (including hernia, haemorrhoidectomy, trauma, cholecystectomy, and laparoscopy surgeries), followed by 50 lakh gynecology surgeries, out of which up to 70% or 35,00,000 were C-sections. Neurology, orthopedic gastrointestinal, oncology, and cardiology surgeries stood at 10 lakhs each. Additionally, the minimal cost of the surgeries in India attracts more foreign patients to visit India for various types of treatment. The lower cost of the surgeries is also responsible for the increasing medical tourism in India. The medical packages provided are very affordable to global health and wellness travelers. The leading hospitals in India have expertise in ophthalmology, cardiology, joint replacement, cardiothoracic surgery, urology, orthopedic surgery, gastroenterology, and multi-organ transplant surgery. All the surgeries are performed by expert surgeons who use the latest technological equipment, which are of comparatively lower prices than the other countries falling in the Western region.

Moreover, the treatments are offered according to the patient’s requirements and affordability. Therefore, there is an increase in medical tourism due to the lower cost of treatment and better facilities and treatment provided by the hospitals. These will enable the conducting of more surgical procedures and will eventually grow the medical tapes and bandages market during 2022-2030.

Industry Developments and Future Opportunities:

Various initiatives taken by major market players operating in the global medical tapes and bandages market are listed below:

  1. In October 2023, Global Biomedical Technology launched its new wound care products under comfort release, focusing on reducing adhesive-related skin injuries. Comfort Release products incorporate a patented release technology that temporarily switches off the adhesive when it’s time to remove the dressing. This solution largely overcomes the risk of medical adhesive-related skin injuries (MARSI) when removing dressings.
  2. In June 2023, Crest Medical Ltd acquired two highly differentiated wound care product brands, Irripod and Stericlens, from CD Medical Ltd. Adding these brands to the Crest Medical portfolio will further enhance the group’s position in the pharma, retail, hospital, and occupational health markets.
  3. In May 2023, Medline launched CURAD Naturals, an adhesive bandage line containing various all-natural healing ingredients to treat and protect wounds gently and effectively. The inherent soothing powers of well-known ingredients such as Aloe Vera, Vitamin E, and ARM & HAMMER Baking Soda are infused directly into the wound pad and bandage surface to cover and protect wounds during healing.

Competitive Landscape and Key Companies:

Some of the major manufacturers operating in the global medical tapes and bandages market include Medtronic, B. Braun Melsungen AG, Cardinal Health, Medline Industries, Inc., Smith Nephew plc, Derma Sciences Inc., Johnson & Johnson Services, Inc., PAUL HARTMANN AG, BSN medical, Mölnlycke Health Care AB. These companies focus on geographical expansions, new product launches, strategic collaboration, and product approval to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. Their wide global presence allows them to serve a large consumer base and subsequently increase their market share.

Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product, Application, End User, and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies

1. B. Braun Melsungen AG
2. Medtronic
3. Cardinal Health
4. Medline Industries, Inc.
5. SmithNephewplc
6. Johnson & Johnson Services, Inc.
7. Derma Sciences Inc.
8. PAUL HARTMANN AG
9. BSN medical
10. Mölnlycke Health Care AB

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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