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Medical Tapes and Bandages Market Is Expected To Generate A Revenue Of USD 10.8 billion By 2028

The latest market report published by Credence Research, Inc., "Global Medical Tapes and Bandages Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Medical Tapes and Bandages Market generated revenue of around USD 8.9 billion in 2021 and is anticipated to grow a CAGR of over 3.3% during the forecast period from 2022 to 2028 to reach around USD 10.8 billion in 2028.
One of the main reasons influencing market expansion is the introduction of new products that streamline processes and make them safer and more efficient. For instance, in May 2019, 3M signed a legally binding agreement to buy the advanced wound care and specialty surgical solutions businesses of Acelity and its KCI Subsidiaries. This move was made to diversify the company's product line and support the anticipated market growth in the coming years. Additionally, tapes and bandages are used to treat small wounds. Therefore, the anticipated increase in accidents will increase demand for medical tapes and bandages, which is anticipated to fuel significant market expansion throughout the forecast period.
is bifurcated into Product, Application, End Use, and Geography. . Based on application, the global market is segmented into surgical wounds, traumatic wounds, burn injuries, ulcers, sport injuries, and others. Based on end use, the market is categorized into hospitals and clinics, ambulatory surgical centers, and others. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
North America is the dominating region in terms of the global market for . The growing number of orthopedic procedures conducted in the United States drives the demand for bandages and medical tapes. Additionally, the old practice of traditional wound dressing has been replaced with the use of new kinds of bandages and tapes, facilitating quick healing. The existence of large companies developing cutting-edge products is one of the factors encouraging growth in the area. The governments of US and Canada have also put into place several policies and programs in the healthcare sector that promote the adoption of novel medical procedures, the development of technology, and enhanced healthcare infrastructure.
There are several factors that drive the medical tapes and bandages market:
Increasing prevalence of chronic diseases: Chronic diseases such as diabetes, obesity, and cardiovascular diseases lead to an increased number of wounds, and the use of medical tapes and bandages to cover and protect these wounds.
Aging population: As the population ages, there is a higher demand for medical tapes and bandages due to the increased likelihood of injury and the need for wound care.
Advances in technology: The development of new materials and designs for medical tapes and bandages, such as hypoallergenic and waterproof options, has expanded the market and increased their use in a variety of settings.
Growth in home healthcare: The shift towards home healthcare has led to an increase in the use of medical tapes and bandages as they can be easily applied by patients and caregivers at home.
Increased demand for sports medicine: The growing popularity of sports and the resulting increase in sports-related injuries has also contributed to the demand for medical tapes and bandages.
Why Buy This Report-
· The report provides a qualitative and quantitative analysis of the global medical tapes and bandages market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
· The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
· In-depth analysis of the global medical tapes and bandages market segmentation based on product, application, and end-use.
· Major countries in each region with their import/export statistics
· The global medical tapes and bandages market report also include analyzing the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.
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