Medical Tapes & Bandages Market Size Worth $11.45 Billion By 2025

Posted October 22, 2020 by sitakant

The global medical tapes & bandages market size is anticipated to reach USD 11.45 billion by 2025, at a CAGR of 5.15% according to a new report by Grand View Research, Inc.

The global medical tapes & bandages market size is anticipated to reach USD 11.45 billion by 2025, at a CAGR of 5.15% according to a new report by Grand View Research, Inc. Increasing geriatric population is resulting in an increased incidence of chronic diseases and injuries, rising prevalence of ulcers, diabetic foot, and surgical procedures. These are among the key factors that are driving market growth.
Rising geriatric population base contributes to the market growth, as the people of this age group are expected to experience a growth in the prevalence of chronic wounds such as venous stasis ulcers and pressure ulcers. According to estimates published by the WHO, the global population base pertaining to the age group 60 years and over, is expected to reach 2 billion in 2050.
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Increasing incidence of diseases such as pressure ulcers, diabetic ulcers, and venous stasis ulcers is likely to propel the growth in demand for advanced wound care products for treating these conditions. Wound dressing helps to improve the overall well-being of patients affected by the aforementioned disorders. According to the data by National Center for Biotechnology Information, in early 2017, chronic wounds affected ~ 5.7 million patients in the U.S., and are estimated to cost USD 20 billion annually, thus impacting the market growth positively.
Further Key Findings From the Study Suggest:
• Bandages segment accounted for the largest share in 2016 owing to the rising number of surgical procedures and the rise in medical conditions.
• The surgical wound treatment segment is anticipated to dominate the market in the forecast period. The growth of this segment can be attributed to the increasing prevalence of diabetic foot, chronic heart disease, and lifestyle disorders resulting in a rise in surgical procedures.
• Asia Pacific medical tapes and bandages market is expected to grow with the highest CAGR over the forecast period owing to the large population of this region along with rising patient awareness levels regarding the diseases and wound infections and increase in per capita income.
• Major players of the market include 3M, Medtronic, Derma Sciences Inc, Johnson & Johnson, Smith & Nephew PLC, B. Braun Melsungen AG, Medline Industries Inc., Paul Hartmann AG, Cardinal Health Inc., and Molnlycke Healthcare Inc.
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Grand View Research has segmented the global medical tapes and bandages market on the basis of product, application, end use, and region:
Medical Tapes & Bandages Product Outlook (Revenue, USD Million, 2014 - 2025)
• Tapes
o Fabric tapes
o Paper tapes
o Plastic tapes
o Other tapes
• Bandages
o Muslin bandage rolls
o Elastic bandage
o Triangular bandage
o Orthopedic bandage
o Elastic plaster bandage
o Other bandages
Medical Tapes & Bandages Application Outlook (Revenue, USD Million, 2014 - 2025)
• Surgical wound treatment
• Traumatic wound treatment
• Ulcer treatment
• Sports injury
• Burn injury
• Other
Medical Tapes & Bandages End-Use Outlook (Revenue, USD Million, 2014 - 2025)
• Hospitals
• Ambulatory surgery centers
• Clinics
• Homecare
Medical Tapes & Bandages Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
o The U.S.
o Canada
• Europe
o Germany
o The U.K.
• Asia Pacific
o Japan
o China
• Latin America
o Brazil
o Mexico
• The Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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Issued By sitakant
Country United States
Categories Business , Health
Tags medical tapes bandages market size
Last Updated October 22, 2020