Market Highlights
The global medical tape market is accounted to register a CAGR of 4.20% during the forecast period and is estimated to reach USD 4.2 billion by 2032.
Medical tape is an adhesive that was created expressly to be applied to the skin in order to secure bandages for open wounds, as well as various first aid and medical devices. Medical tape should have the following qualities in order to be effective: it should be skin-safe, simple to use, and strong enough to hold up even when the skin is moving, bending, or moist. Paper tape, clear tape, cloth tape, elastic tape, and hypoallergenic tape are just a few of the sizes and materials that are offered. Medical tape comes in a range of designs that are suitable for a number of applications.
The rise in traffic accidents and the widespread use of bandages and medical tapes in hospitals and other healthcare facilities are both significantly boosting the market for medical tapes. The development of the medical tape industry is being hampered by the availability of alternatives like cutting-edge wound care products and the significant potential for skin damage caused by medical adhesives. On the other hand, the development of tape technology has created market opportunities for medical tape.
Medical tape is a type of adhesive tape that is used to secure bandages, dressings, catheters, and other medical devices on the skin. Medical tape is an essential item for first aid, wound care, and surgery. It helps to protect the wound from infection, prevent bleeding, and promote healing.
The medical tape market is a dynamic and growing sector that is influenced by various factors, such as the increasing incidence of wounds, injuries, infections, and chronic diseases; the rising demand for advanced and innovative products; the growing awareness and preference for quality and safety; and the stringent regulations and standards for medical devices.
Key Players
MRFR recognizes the following companies as the key players in the global medical tape market— 3M Company, Ad Tape & Label Company, Inc., Andover Healthcare Inc., B. Braun Melsungen AG, Cardinal Health, Cardinal Heal, Dynarex Corporation, Integra Lifesciences Holdings Corporation, Jiangxi 3L Medical Products Group Co Ltd, Johnson & Johnson, McKesson Corporation, Medtronic plc, Paul Hartmann AG., Scapa Group PLC, Smith & Nephew PLC, Urgo Medical, and Winner Medical Group, Inc.
Segment Analysis
The global medical tape market has been segmented based on product, application and end user.
Based on product, the market is segmented into Fabric Tapes, Paper Tapes, Plastic Tapes and Others. The paper tapes segment was attributed to holding the largest market share in 2022.
Based on application, the global medical tape market has been segmented into Surgery, Wound Dressing, Secure IV lines and Others. The wound dressing segment was expected to hold the largest market share in 2022.
Based on the end user, the global medical tape market has been segmented into Hospitals, Ambulatory Surgery Centers, Clinics and Others. The hospitals segment was expected to hold the largest market share in 2022.
Regional Analysis
The global medical tape market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of US and Canada. The Europe medical tape market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The medical tape market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World medical tape market comprises of Middle East, Africa, and Latin America.
The Asia Pacific region is anticipated to be the largest region in the medical tape market over the forecast period. There are projected to be considerable regional growth prospects in the market due to the presence of a sizable patient pool and the growing need for technologically improved & affordable healthcare solutions. Additionally, it is anticipated that in the upcoming years, the Asia Pacific will experience an increase in demand for medical tapes due to the region’s aging population and the burden of chronic diseases.
Moreover, the European region is anticipated to be the second largest region because of the expansion of government-run healthcare institutions, the booming healthcare facility spending, and the thriving healthcare industry. Additionally, the market has grown as a result of the explosion in wound care products and the rising senior citizen population. The market will be actively driven by the region’s presence of numerous major businesses and cutting-edge medical facilities with a range of surgical options for treating chronic conditions.
Additionally, North America region is expected to be the fast growing region in the medical tape market. It is projected that rising road accidents, sports injuries, and the presence of multiple major competitors in the area will fuel market expansion. Additional factors that are anticipated to contribute to the market’s regional growth include an increase in the frequency of surgical procedures and hospital visits, a strong healthcare infrastructure, and favorable reimbursement and regulatory policies.
Furthermore, the rest of the world’s medical tape market is divided into the Middle East, Africa, and Latin America. Due to the growing surgical operations and expanding healthcare infrastructure in Latin America, the Middle East, and Africa are expected to experience a moderate CAGR throughout the projection period. According to a 2021 Linked Foundation article, USD 600 million was invested with a focus on blended finance, missing middle support, technical assistance, and unbiased pipeline sourcing to help small, women-focused health firms in South America become sustainable.
Key Findings of the Study
- North America region accounted for the fastest-growing global market. It is projected that rising road accidents, sports injuries, and the presence of multiple major competitors in the area will fuel market expansion.
- Based on the product, the paper tapes segment was attributed to holding the largest market in 2022, with an approximate market share of 35–40%.
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