Medical Tapes and Bandages Market by Product (Tape(Fabric, Paper, Plastic), Bandage(Gauze, Adhesive, Cohesive, Elastic, Compression)), Application (Surgery, Trauma, Ulcer, Sports, Burns), Enduser (Hospital, ASC, Clinic, Homecare) - Global Forecast to 2026" The medical tapes and bandages market is projected to reach USD 8.6 Billion by 2026 from USD 7.1 Billion in 2021, at a CAGR of 4.0 % during the forecast period. The rising number of surgeries, increasing incidence of chronic wounds, and rising geriatric population are the major factors that are expected to drive the growth of the medical tapes and bandages market during the forecast period. However, the rising awareness about advanced wound care products is expected to restrain market growth in the coming years.
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Key Market Players
Prominent players in the medical tapes and bandages market include 3M Company (US), Johnson & Johnson (US), Cardinal Health Inc. (US), Medline Industries Inc.(US), Essity (Sweden), McKesson Corporation (US), Integra Lifesciences Holdings Corporation (US), Smith & Nephew Plc., (US), B. Braun Melsungen AG (Germany), PAUL HARTMANN AG (Germany), Beiersdorf AG (Germany), Nitto Denko Corporation (Japan), Mölnlycke Healthcare (Sweden), Coloplast A/S (Denmark), and Nichiban (Japan).
As of 2020, 3M Company (US) holds the leading position in the global medical tapes and bandages market. 3M is a prominent player in the medical tapes and bandages market, owing to its long presence, strong brand recognition, and broad product portfolio. The company mainly focuses on developing new and innovative products to expand its portfolio and address the unmet needs of healthcare professionals and patients. The company is focused on launching newer products and enhancing its current offerings, along with diversifying the product portfolio through acquisitions of promising players in the wound care market. Furthermore, through its R&D efforts, the company offers its customers a wide range of innovative products. All these developments and continuous organic and inorganic growth will further augment the progress of the company.
Johnson & Johnson (US) is one of the leading players in the global medical tapes and bandages market. The company has a broad portfolio of medical bandages and tapes along with medical gauzes and other devices. Moreover, Johnson & Johnson has a strong presence across the globe. The brand BAND-AID has been renowned over the years and is the number one recommended doctor’s choice when it comes to first-aid and home-care settings wound management. Johnson & Johnson also enjoys a great amount of brand loyalty and thus caters to a large customer base. This will definitely help the company in the long term in terms of market capitalization.
Cardinal Health (US) is a key player in the medical tape and bandages market. The company has a broad medical equipment product portfolio, which includes infection control supplies, patient care consumables, wound management products, anesthesia supplies, and others. The company could expand in other markets to broaden its revenue generation, such as countries in Europe, Asia, and Latin America.
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Asia Pacific dominated the global medical tapes and bandages market in 2020
The Asia Pacific market dominated the medical tapes and bandages market and registered highest CAGR during the forecast period. The market growth in Asia Pacific can be attributed to increasing demand for wound care products, rising geriatric population, and increasing prevalence of chronic wounds in the region.
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