Global Medical Tapes Market Size, Outlook, and Revenue Forecasts Report 2022-2028 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jan 4, 2023--
The “Global Medical Tapes Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Application, Distribution Channel, and Region” report has been added to ResearchAndMarkets.com’s offering.
Global Medical Tapes Market is estimated to have grown to a size of ~US$1.5 billion in 2022 from ~US$1 billion in 2017. The market is expected to grow further to a size of ~US$2 billion by 2028 at a CAGR of ~6% during the forecasting period of 2022-2028.
The growth can be attributed to the rise in Healthcare Acquired Infections, the increasing number of wounds, burns, injuries, and accidents reported at healthcare facilities, the availability of advanced products, and rising awareness among patients and physicians about the benefits of good-quality medical tapes.
Healthcare Acquired Infections (HAI) get transmitted while receiving treatment at a healthcare facility. These infections are capable of doing long-term damage to a person’s health by affecting one’s bloodstream, lungs, skin, urinary or digestive tract. Apart from performing inspections of healthcare facilities and hospitals at frequent intervals, there is hardly any other proactive measure to stop these infections from spreading.
The proper use of medical tapes, in compliance with the storage and usage guidelines issued by public health authorities across countries and regions, can reduce the spread of Healthcare Acquired Infections. Simple innovations like single-use, individually packaged medical tapes have proven to be especially effective in minimizing the risk of HAI, resulting in a steady rise in the market.
Businesses and individual scientific researchers are consistently active in making better-quality medical tapes. For instance, the Durapore Advanced Tapes by 3M, one of the key players in this market, has addressed three critical areas that make a medical tape successful. These areas/aspects include adhesion to tubing, adhesion to the skin in presence of moisture, and edge lift.
According to a report published in the University of Washington website in 2022, Professor Eric Siebel, a UW researcher in Mechanical Engineering, has been successful at developing tapes that would stick strongly to the skin and yet become conveniently non-sticky when it comes to removal. Such innovations, resulting in the frequent launch of efficient products, have helped the market for medical tapes to grow in size.
Despite moderate and steady growth, factors that limit the market’s potential include the lack of adequate guidelines on the use of medical tapes and the occurrence of Medical Adhesive Related Skin Injuries (MARSI). These injuries may fall into the categories of mechanical, dermatitis, and other types, and persist 30 minutes or more after the removal of the adhesive. While a mechanical MARSI may be caused by the force applied in removing the tape, the dermatitis type of injury can be allergic or non-allergic. Other types of MARSI include maceration and folliculitis.
During the initial phase of the COVID-19 outbreak, healthcare facilities, including hospitals and ambulatory surgical centers, witnessed a significant decline in the number of surgeries. Across several geographies, severe dips were noted in the number of elective surgical procedures.
This fall in demand resulted in lesser uptake of medical and healthcare consumables, including medical tapes. However, as the pandemic-induced restrictions started easing out, the market for medical tapes, along with other consumables, witnessed a rebound with resumed treatments and reappointed surgeries.
The Global Medical Tapes market has ~250 players, including globally diversified players, regional players, and country-niche players having expertise in addressing specific needs prevalent in the healthcare scene of a specific region.
Large global players constitute ~10% of total competitors, while regional players hold the largest revenue share. Some of the major players in the market include 3M, Johnson & Johnson, Paul Hartmann, Scapa Group Plc., Ad Tape & Label, Medtronic, Avery Dennison Corporation, Nichiban Co. Ltd., Nitto Denko Corporation, Smith & Nephew, etc.
Recent Developments Related to Major Players
In April 2022, 3M introduced an adhesive tape to the market that could be used for securing medical devices to a patient’s skin for up to three weeks or 21 days. The tape was launched under the brand name ‘3M Medical Tape 4576’. The company believes that the product would offer excellent adhesion in cases of extended wear and for both in and out of care facilities.
Paul Hartmann company, one of the leading players in the segment, collaborated with Genesys Cloud CX platform to consolidate its digitisation strategy, realising the benefits of a robust IT-based network to succeed in this market. The collaboration will help in establishing a central digitisation system for the company with multiclient-enabled solutions.
Key Topics Covered in the Report
- Snapshot of the Global Medical Tapes Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Medical Tapes Market
- Historic Growth of the Overall Global Medical Tapes Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Medical Tapes Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- COVID-19 Impact on the Overall Global Medical Tapes Market
- Future Market Forecast and Growth Rates of the Total Global Medical Tapes Market and by Segments
- Market Size of Application/End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Medical Tapes Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
- Johnson & Johnson
- Paul Hartman
- Scapa Group Plc
- Ad Tape & Label
- Avery Dennison Corporation
- Nichiban Co. Ltd
- Nitto Denko Corporation
- Smith and Nephew
For more information about this report visit https://www.researchandmarkets.com/r/w81jgx
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INDUSTRY KEYWORD: MEDICAL SUPPLIES HEALTH
SOURCE: Research and Markets
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PUB: 01/04/2023 09:29 AM/DISC: 01/04/2023 09:29 AM