Emerging Markets Offer High Growth Opportunities for Players in the Medical Tapes and Medical bandages Market

The global medical tapes and medical bandages market is projected to reach USD 7.39 billion by 2022 from 6.13 billion in 2017, at a CAGR of 3.8%. Some of the factors driving the growth of this market are the rising number of surgeries, the increasing incidence of diabetes, and the rising geriatric population.

In this report, the market is segmented by product type, application, end user, and region. Based on product type, the market is segmented into two broad categories namely medical tapes and bandages. The tapes segment is poised to be the fastest growing segment during the forecast period, owing to factors such as increasing surgical procedures, increasing cases of lacerations, and the rising numbers of chronic wounds.

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On the basis of applications, the market is segmented into surgical treatment, traumatic & laceration injury treatment, sport & burn injury treatment, ulcer treatment, and treatment of other injuries and wounds. Among applications, the ulcer treatments segment is expected to grow at the fastest rate during the forecast period. An ulcer takes around four months to heal properly and during this period the patient needs to change dressing every 3-5 days. This increases the use of medical tapes and bandages. Among types of ulcers, the diabetic foot ulcers (DFU) are the most common.

Based on end user, the market is segmented into hospitals, clinics, ambulatory surgical centers, and homecare setting. Among these end users, clinics are expected to grow at the fastest rate during the forecast period. This is because most injuries treatable with traditional dressings are treated in clinics like Stage I and Stage II diabetic foot ulcers, minor burns and cuts. Most clinics have sufficient infrastructure and skilled professionals to carry out minor surgical procedures, and also ensure wound redressal post-surgery, as needed.

In 2017, the Asia-Pacific region is expected to emerge as the new revenue-generating segment for prominent market players during 2017-2022. The growth of this Asia-Pacific market is attributed to factors such as huge population base which is aging and prone to diabetes.