Medical Tapes & Bandages Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global medical tapes &
bandages market size is anticipated to reach USD
10.97 billion by 2025, at a CAGR of 5.10% according to a new report by Grand
View Research, Inc. Increasing geriatric population is resulting in increased
incidence of chronic diseases and injuries, rising prevalence of ulcers,
diabetic foot, and surgical procedures. These are among the key factors that
are driving the market growth.
Rising geriatric population base contributes to the market growth, as the
people of this age group are expected to experience a growth in the prevalence
of chronic wounds such as venous statis ulcers and pressure ulcers. According
to estimates published by the WHO, the global population base pertaining to the
age group 60 years and over, is expected to reach 2 billion in 2050.
Increasing incidence of diseases such as pressure ulcers, diabetic ulcers
and venous stasis ulcers is likely to propel the growth in demand for advanced
wound care products for treating these conditions. Wound
dressing helps to improve the overall well-being of patients affected from
the aforementioned disorders. According to the data by National Center for
Biotechnology Information, in early 2017, chronic wounds affected ~ 5.7 million
patients in U.S., and are estimated to cost USD 20 billion annually, thus
impacting the market growth positively.
Further Key Findings from the Study Suggest:
- Bandages segment accounted for the largest share in 2016 owing to
the rising number of surgical procedures and rise in medical conditions.
- Surgical wound treatment segment is anticipated to dominate the
market in the forecast period. The growth of this segment can be attributed
by the increasing prevalence of diabetic foot, chronic heart disease, and
lifestyle disorders resulting in rise in surgical procedures.
- Asia Pacific medical tapes and bandages market is expected to grow
with the highest CAGR over the forecast period owing to the large
population of this region along with rising patient awareness levels
regarding the diseases and wound infections and increase in per capita
income.
- Major players of the market include, 3M, Medtronic, Derma Sciences
Inc, Johnson & Johnson, Smith & Nephew PLC, B. Braun Melsungen AG,
Medline Industries Inc., Paul Hartmann AG, Cardinal Health Inc., and
Molnlycke Healthcare Inc.
Access full
research report on global medical tapes & bandages market:
www.grandviewresearch.com/industry-analysis/medical-tapes-bandages-market
Sponsor Ads
Created on Apr 16th 2020 15:21. Viewed 314 times.