Global Medical Tapes Market is expected to grow further to a size of ~US$2 billion by 2028: Ken Research


Posted December 16, 2022 by kenresearchcompany

Global Medical Tapes 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.
 
Medical tapes are meant for direct application on the skin to take care of wounds and injuries and are also used for surgery and securement. Since these tapes come in direct contact with the skin, they need to be skin-friendly and easy to put on. To hold wounds and injuries better, the tapes should be strong and resilient and remain stuck to the skin efficiently when the patient is moving or bending. Not all medical tapes are essentially water-proof. The buyer needs to read the product description well if looking specifically for waterproof applications.

According to Ken Research Analysis, the 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.

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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.

Key Trends by Market Segment

By Product Type: Silk cloth tapes accounted for the largest share of the market in 2021. However, the growing use of silicone tapes among children and elderly patients, owing to this category's enhanced safety features, is expected to make it the fastest-growing category during the forecast period of 2022-2028.

Silk cloth tapes are strong and resilient. Moreover, its design allows it to leave minimal residue on the skin when removed. It also comes with several functional benefits. For instance, it can be torn according to the exact requirement without the help of scissors. Gently stroking the surface can maximize adherence.

The growth potential of Silicone Medical Tapes stems from the clean and comfortable wearing experience it has to offer, its enhanced sticking properties, and the variety of formats in which it is available. These tapes can be conveniently used for both long and short-term applications and for chronic wounds as well.

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By Application: Application-wise, the Wound & Injuries segment is estimated to hold a significantly larger share than the Surgeries and Securement segment.

The use of medical tapes is more frequent in offering care for wounds and injuries. Medical tapes find thorough and consistent use in various stages of wound dressing. There are types of medical tapes available in the market that aid in minimizing pain during the process of recovery from wounds. The demand in this segment is also fueled by the growing instances of acute and chronic wounds.
Demand in the Surgeries and Securement segment is generated by the post-operative care needs. Tapes are also increasingly being used to attach wearable health-parameter tracking devices to the human body.

By Distribution Channel: Hospitals accounted for the largest share of the market in 2021 and is expected to retain dominance during the forecast period of 2022-2028.

Most people prefer hospitals when it comes to undergoing surgical procedures, resulting in a consistently increasing demand for medical tapes in this segment.
The resumption of elective surgical procedures, after the pandemic-induced restrictions, has helped the hospital segment to grow. Also, the increasing number of surgical procedures at an overall level is fueling growth.

By Region: North America accounted for the largest share of the Global Medical Tapes Market in 2021.

A host of factors is driving growth in the North American geography, including rises in hospital admissions and number of elective procedures. This growth is leading to an overall rise in the sales of medical consumables, including medical tapes.
Europe and Asia Pacific have also emerged as significant markets for this segment. While growth in Europe is driven by the increase in number of surgeries in the region, Asia Pacific market benefits from its demographic dividend, noted especially in the largely populated countries of China and India.

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Competitive Landscape

The Global Medical Tapes market (https://www.kenresearch.com/business-research/global-medical-tapes-market-outlook-2028/) 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.

Conclusion

The Global Medical Tapes market is expected to grow at a steady and moderate pace during the forecast period. Multiple factors will drive growth in this segment, including efforts undertaken to stop the rise in Healthcare Acquired Infections, increasing number of wounds, burns, injuries, and accidents, availability of high-quality medical-grade tapes, and rising awareness among a large segment of the population about the benefits of everyday hygiene.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of 2 working weeks.

Market Taxonomy

The Global Medical Tapes Market (https://www.kenresearch.com/business-research/global-medical-tapes-market-outlook-2028/) Size, Segments, Outlook, and Revenue Forecast 2022-2028 is segmented into product type, application, distribution channel, and region. In addition, the report also covers the size and forecasts for the four major regions of the market. The revenue used to size and forecast the market for each segment is USD billion.

By Product Type

Adhesive Tapes
Elastic Tapes
Silicone Tapes
Paper Tapes
Silk Cloth Tapes

By Application

Wounds & Injuries
Surgeries & Securement

By Distribution Channel

Hospitals
Ambulatory Surgical Centers
Clinics
Homecare Setting

By Region

North America (USA, Canada, Mexico)
Europe (Germany, UK, Italy, France, Spain, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, Indonesia, Rest of Asia Pacific)
LAMEA (Latin America, Middle East, Africa)

Key Players

3M
Johnson & Johnson
Paul Hartman
Scapa Group Plc.
Ad Tape & Label
Medtronic
Avery Dennison Corporation
Nichiban Co. Ltd.,
Nitto Denko Corporation
Smith and Nephew
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Last Updated December 16, 2022