Global Medical Tapes market By Geography
The Global Medical Tapes market is segmented by geography into North America, Europe, Asia- pacific and LAMEA. North America accounted for the largest share of the Global Medical Tapes Market in 2022.
A host of factors is driving growth in the North American geography, including rises in hospital admissions and number of elective procedures. This growth is leading to an overall rise in the sales of medical consumables, including medical tapes.
Europe and Asia Pacific have also emerged as significant markets for this segment. While growth in Europe is driven by the increase in number of surgeries in the region, Asia Pacific market benefits from its demographic dividend, noted especially in the largely populated countries of China and India.
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Competition Scenario In Global Medical Tapes Market
The Global Medical Tapes market has ~250 players, including globally diversified players, regional players, and country-niche players having expertise in addressing specific needs prevalent in the healthcare scene of a specific region.
Large global players constitute ~10% of total competitors, while regional players hold the largest revenue share. Some of the major players in the market include 3M, Johnson & Johnson, Paul Hartmann, Scapa Group Plc., Ad Tape & Label, Medtronic, Avery Dennison Corporation, Nichiban Co. Ltd., Nitto Denko Corporation, Smith & Nephew, etc.
What is the Expected Future Outlook for the Overall Global MEDICAL TAPES Market Across the globe?
The Global Medical Tapes market was valued at USD ~billion in 2022 and is anticipated to reach USD ~billion by the end of 2028F, witnessing a CAGR of ~% during the forecast period 2022-2028F. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Medical Tapes market is driven by rise in Healthcare Acquired Infections, the increasing number of wounds, burns, injuries, and accidents reported at healthcare facilities, the availability of advanced products, and rising awareness among patients and physicians about the benefits of good-quality medical tapes. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
With the increasing collaborations and emergence of new products, the Global Medical Tapes market is changing rapidly. For instance, In 2022, Professor Eric Siebel, a UW researcher in Mechanical Engineering, has been successful at developing tapes that would stick strongly to the skin and yet become conveniently non-sticky when it comes to removal. Such innovations, resulting in the frequent launch of efficient products, have helped the market for medical tapes to grow in size.
In April 2022, 3M introduced an adhesive tape to the market that could be used for securing medical devices to a patient’s skin for up to three weeks or 21 days. The tape was launched under the brand name ‘3M Medical Tape 4576’. The company believes that the product would offer excellent adhesion in cases of extended wear and for both in and out of care facilities.
Furthermore, Paul Hartmann company, one of the leading players in the segment, collaborated with Genesis Cloud CX platform to consolidate its digitization strategy, realizing the benefits of a robust IT-based network to succeed in this market. The collaboration will help in establishing a central digitization system for the company with multiclient-enabled solutions.
The Global Medical Tapes market is expected to grow at a steady and moderate pace during the forecast period. Multiple factors will drive growth in this segment, including efforts undertaken to stop the rise in Healthcare Acquired Infections, increasing number of wounds, burns, injuries, and accidents, availability of high-quality medical-grade tapes, and rising awareness among a large segment of the population about the benefits of everyday hygiene.
Key Topics Covered in the Report
- Snapshot of the Global Medical Tapes Market
- Industry Value Chain and Ecosystem Analysis
- Market size and Segmentation of the Global Medical Tapes Market
- Historic Growth of the Overall Global Medical Tapes Market and Segments
- Competition Scenario of the Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Medical Tapes Industry
- Overview, Product Offerings, and Strength & Weakness of Key Competitors
- COVID-19 Impact on the Overall Global Medical Tapes Market
- Future Market Forecast and Growth Rates of the Total Global Medical Tapes Market and by Segments
- Market Size of Application / End User Segments with Historical CAGR and Future Forecasts
- Analysis of the Global Medical Tapes Market
- Major Production/Supply and Consumption/Demand Hubs within Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Region
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Notable Emerging Companies Mentioned in the Report
- Acera Surgical
- KitoTech Medical, Inc.
- Om Surgical
- First Medtrade Africa
- MedikaBazaar
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Medical Tapes and Consumable Manufacturers
- Medical Supply Marketplaces
- Public Health Departments
- Medical Device/ Consumable Startups
- MedTech Industry Investors/ VC Funds
- Medical Tape Raw Material Suppliers
- Healthcare Strategy Committees
- Associations Dealing With Infectious Diseases
Time Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
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