NEW YORK, Aug. 1, 2022 /PRNewswire/ — As per Zion Market Research study, The global medical adhesive tapes market was worth around USD 8,724.1 million in 2021 and is estimated to grow to about USD 11,825.3 million by 2028, with a compound annual growth rate (CAGR) of approximately 5.2% over the forecast period.
Medical Adhesive Tapes Market: Overview
The pressure-sensitive medical adhesive tapes adhere and are appropriately positioned when applied with significant pressure. Medical adhesive tape is important and regarded as a useful instrument in the industry. The most crucial item in a first aid kit is medical adhesive tape because it is a practical item. Medical adhesive tape, commonly referred to as surgical tapes, is frequently used in wound dressing, surgery, ostomy seal, and transdermal patches. Numerous variables, including an increase in surgical operations worldwide, an increase in the prevalence of chronic diseases, and expanding applications in wound care & wound closure, are driving the demand for these tapes. Furthermore, it is projected that the market will expand with the introduction of tape technology developments. Medical tapes are being used more frequently in wearable devices such as ostomy bags, electrode fixtures, and splint attachments as well as in patient monitoring, wound care, and supportive wound closure. However, the availability of cutting-edge wound care products, the emergence of Medial Adhesive Related Skin Injuries (MARSI), and a lack of adequate instructions for the selection and application of medical tapes in numerous geographies are factors that may limit the global medical tapes market’s ability to grow in terms of revenue.
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Key Industry Insights & Findings of the Medical Adhesive Tapes Market Reports:
- As per the analysis shared by our research analyst, the Medical Adhesive Tapes Market is expected to grow annually at a CAGR of around 5.2 % (2022-2028).
- Through the primary research, it was established that the Medical Adhesive Tapes Market was valued at approximately USD 8724.1 million in 2021 and is projected to reach roughly USD 11825.3 million by 2028.
- The need for medical supplies is predicted to increase as a result of the increasing number of hospital admissions, which is further anticipated to boost market expansion.
- The rise in operations, the rise in diabetes cases, and the rise in ambulatory surgery facilities are cited as the main drivers of market expansion.
- North America dominated the market for medical adhesive tapes in 2021 in terms of revenue and market share, and this pattern is anticipated to persist.
- The rising worldwide demand for oil and the upheaval in the Middle East, oil prices have been extremely unpredictable.
Zion Market Research published the latest report titled “Medical Adhesive Tapes Market By Resin Type (Acrylic, Silicone, Rubber, and Others), By Backing Material (Paper, Fabric, Plastic, and Others), By Application (Surgery, Wound Dressing, Splints, Secure IV lines, Ostomy Seals, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2022 – 2028.“ into their research database.
Medical Adhesive Tapes Market: Growth Drivers
- Population growth in developing nations will boost market’s expansion rate.
The market for medical adhesive tapes will expand at a rapid rate due to the growing populations of elderly people and people in emerging economies. The need for medical services increases along with the global population, which also increases the demand for medical tools and software. Medical adhesive tapes and related products have consequently grown in popularity. As medical technology and quality have advanced over time, the average life expectancy has increased. As a result, the number of elderly persons worldwide has increased. With the growth in medical procedures and treatments for these people, the demand for global medical adhesive tapes market has skyrocketed.
Medical Adhesive Tapes Market: Restraints
- Fluctuation in raw material costs expected to limit the market growth.
Manufacturers of medical adhesive tape must take into account prices and the availability of raw materials to determine the cost structure of their goods. Medical adhesive tapes are made from basic materials such as rubber, acrylic, silicone, paper, adhesives, and release liners. The majority of these raw materials are derivatives of petroleum that are susceptible to changes in commodity prices. Because of the rising worldwide demand for oil and the upheaval in the Middle East, oil prices have been extremely unpredictable. The cost and availability of feedstock are unknown, and these factors affect the market expansion.
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Medical Adhesive Tapes Market: Opportunities
- The untapped healthcare industry in developing countries to offer market expansion opportunities.
Players in the global medical adhesive tapes market may anticipate finding considerable potential prospects in emerging economies like China, India, Brazil, and Mexico. This is mostly due to the developed healthcare systems in these developing nations. The main reason why patients move to these nations for elective surgery is the availability of high-quality surgical treatments at lower prices. Other significant factors that are anticipated to provide market participants with growth opportunities include the rising demand for cosmetic procedures and the evolving healthcare infrastructure in emerging nations. Manufacturers are deliberately concentrating on growing their presence in China, India, Brazil, and Mexico to take advantage of the strong growth potential for medical adhesive tapes in the rising countries.
Medical Adhesive Tapes Market: Challenges
- Adoption of strict regulatory guidelines pose challenges to market growth.
Regulatory agencies like the Control of Substances Hazardous to Health (COSHH), the European Union (EU), the Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH), the Globally Harmonized System (GHS), and the Environmental Protection Agency pose challenges to the chemical industry in Europe and North America (EPA). Manufacturers in these areas must abide by rules governing the creation and application of adhesive tapes for a variety of purposes to lower VOC emissions. Contrary to water-based adhesive tapes, solvent-based adhesive tapes offer durability and can withstand a wide range of temperatures, making them suitable for a wide range of applications. As a result of these regulations, manufacturers are required to change their technologies from solvent-based to water-based.
Global Medical Adhesive Tapes Market: Segmentation
- The global medical adhesive tapes market is segregated based on resin type, backing material, application, and region.
By backing material, the market is divided into paper, fabric, plastic, and others. During the forecast period, it is expected that the paper segment will keep a commanding share. The low cost of paper tapes compared to other types of material tapes and improved patient compliance are factors cited for this segment’s dominance globally. For instance, wounds repaired with sticky paper tapes produced less inflammation and lower rates of wound infection, offering stronger tensile strength as well as superior cosmetic results than wounds treated with sutures or staples. This research was reported in NCBI. In addition, medical paper tapes are affordable and useful for a variety of wound care procedures, including the closure of abdominal wounds.
Based on resin type, the market is divided into acrylic, silicone, rubber, and others. The majority of the global market for medical adhesive tapes is made up of products with acrylic as their foundation in 2021.
By application, the market is divided into surgery, wound dressing, splints, secure IV lines, ostomy seals, and others. The applications segment with the highest share was wound care. The demand for medical tapes is supported by the expanding uses of medical tapes in wound care, such as securing bandages and dressings, as well as the growing emphasis of medical tape manufacturers on producing tapes for various stages of a wound dressing. It is projected that this, along with the rising prevalence of acute and chronic wounds among the patient population, will promote the expansion of the wound care segment.
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List of Key Players in Medical Adhesive Tapes Market:
- Medtronic PLC
- 3M Company
- Avery Dennison Corporation
- Medline Industries
- Smith & Nephew plc
- Johnson & Johnson
- Paul Hartmann AG
- Nitto Denko Corporation
- Scapa Group PLC
Key questions answered in this report:
- What are the growth rate forecast and market size for Medical Adhesive Tapes Market?
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- What are the most important companies in the Medical Adhesive Tapes Market Industry?
- What segments does the Medical Adhesive Tapes Market cover?
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Market size value in 2021
USD 8724.1 Million
Revenue forecast in 2028
USD 11825.3 Million
CAGR of almost 5.1 % 2022-2028
2016 – 2021
2022 – 2028
By Product Type, By Application, And By End Use
Value (USD Billion), and Volume (Units)
Revenue in USD million/billion and CAGR from 2022 to 2028
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Medtronic PLC , 3M Company , Avery Dennison Corporation , Medline Industries , Smith & Nephew plc , Johnson & Johnson , Paul Hartmann AG , Nichiban , Nitto Denko Corporation and Scapa Group PLC
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
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- In March 2021, ATP Adhesive Systems Group has announced the acquisition of BDK Industrial Products Ltd., a specialty adhesive tape converter based in the United Kingdom. The leading Swiss producer of water-based adhesive tapes is ATP Adhesive Systems Group. Both businesses’ market positions are strengthened as a result of the merger, and they are now able to provide their clients with an even wider selection of unique solutions.
- North America will dominate market due to increase in number of hospital admissions.
In terms of both revenue and market share, North America dominated the global medical adhesive tapes market in 2021, and this trend is expected to continue. This is because modern technology has been introduced in this area. The dominance is linked to a rise in hospital admissions and an increase in the use of elective operations by the local population. The market’s growth rate in this area will also be aided by the increasing number of procedures. The need for medical supplies is predicted to increase as a result of the increasing number of hospital admissions, which is further anticipated to boost market expansion. The need for medical supplies is likely to increase due to the growing patient population and increased hospital admissions, which is expected to fuel market expansion in the area. Moreover, despite an ongoing economic recession, the region will continue to have a substantial market share.
Global Medical Adhesive Tapes Market is segmented as follows:
Medical Adhesive Tapes Market: By Resin Type Outlook (2022-2028)
Medical Adhesive Tapes Market: By Backing Material Outlook (2022-2028)
Medical Adhesive Tapes Market: By Application Outlook (2022-2028)
- Wound Dressing
- Secure IV Lines
- Ostomy Seals
Medical Adhesive Tapes Market: By Region Outlook (2022-2028)
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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