Medical Tapes Market Outline
Medical tapes market report gives a comprehensive outlook of medical tapes usage or adoption across the globe with special emphasis on key regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa (MEA). This report gives historical, current, and future market sizes (US$ Mn) of product types, medical tapes application, end users, and geographic regions. This report studies medical tapes market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, This report covers newer product introductions and competition analysis with vividly illustrated competition dashboard to assess the market competition. Moreover, PBI analyzed medical tapes market to better equip clients with possible investment opportunities across the regions (Regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the market report include suppliers, manufacturers, marketers, policymakers engaged in manufacturing and supply of medical tapes.
The medical tapes market estimated to be valued US$ 1,168 Mn in 2017 and poised to grow at CAGR 6.2% over 2017 to 2023. The market for medical tapes projected to reach US$ 1,671 Mn by 2023.
How are HAIs and MARSIs Affecting the Medial Tapes Market Dynamics?
There has been rising concern among healthcare professionals regarding Healthcare-Associated Infections (HAI) which led to the growing demand for medical tapes in the market to curb the after-effects of the infections. According to data published by the centre for diseases control and Prevention (CDC) in 2011, there were an estimated 722,000 HAIs in U.S. acute care hospitals. Additionally, about 75,000 patients with HAIs died during their hospitalizations. In response to the market demands players in the market coming up with single patient use tapes to gain larger market revenue. However, Medial Adhesive-Related Skin Injuries (MARSIs) is prevalent in all healthcare settings and occurs in all age groups, that could negatively impact of the revenue growth over 2017-2023.
Market is Gaining Movement in Spite of Advanced Wound Care Methods
The advancement in wound closure and surgical treatment methods has stirred the wound care market significantly with several physicians opting for newer wound care methods for wound and surgical treatments. Despite all these market developments traditional wound care products like medical tapes have got significant adoptions in all healthcare settings owing to its accessibility and feasibility in several applications. Moreover, players in medical tape market responding to the onslaught of advanced wound care products with innovations like single patient use tapes, and tapes for skin sensitive children and elders to avoid skin related injuries.
Asia-Pacific Accounts for Larger Market Revenue share in Global Medical Tapes Market
Asia-Pacific leads the global market in terms of revenue in 2016. Regions such as Asia Pacific and Latin America presented better growth opportunities for the market players owing to favourable patient dynamics and availability of large untapped market in the aforesaid regions.
Key players profiled in the global market include:
- 3M Company (US)
- Avery Dennison Corporation (US)
- Johnson & Johnson (US)
- Medtronic Plc (Ireland)
- Nichiban Co., Ltd. (Japan)
- Nitto Denko Corporation (Japan)
- PAUL HARTMANN AG (Germany)
- Scapa Group PLC (UK)
- Smith & Nephew Plc (UK)
Market players are focusing on launching differentiated products for children and elders with improved safety to garner larger revenue in market.
Key Findings of the Report:
- Global medical tapes market expanding at 6.2% CAGR over 2017 to 2023 to reach market value of US$ 1671 Mn by 2023
- Based on product type silk cloth tapes accounted for larger market revenue share in 2016
- Hospital are prime end users for medical tapes distribution across the globe
- Players focusing on expanding product portfolio to garner market opportunities in developing and developed economies
By Product Type
- Silicone Tapes
- Adhesive Tapes
- Paper Tapes
- Elastic Tapes
- Silk Cloth Tapes
- Wound Dressings
- Ambulatory Surgical Centers (ASCs)
- Homecare Settings
- North America
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- The Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2012-2016) and forecast (2017-2023)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market