How Will The Healthcare Adhesive Tapes Market Globally Expand In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s healthcare adhesive tapes market report forecasts the healthcare adhesive tapes market size to grow to $49.61 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
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Healthcare Adhesive Tapes Market Size Forecast
The global healthcare adhesive tapes market is expected to grow from $34.11 billion in 2022 to $36.86 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The healthcare adhesive tapes market size is expected to grow to $49.61 billion in 2027 at a CAGR of 7.7%.
North America held the largest healthcare adhesive tapes market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Healthcare Adhesive Tapes Market Driver – Increase In Number Of Accidental Cases Due To Heavy Trafficking
For instance, in June 2022, according to World Health Organization, a Switzerland-based specialized agency of the United Nations responsible for international public health, between 20 and 50 million people suffer non-fatal injuries, with many incurring a disability as a result of their injury due to a road traffic accident. Road traffic accidents take the lives of almost 1.3 million individuals annually. Therefore, an increasing number of accidental cases due to heavy traffic are driving the healthcare adhesive tape market.
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Key Healthcare Adhesive Tapes Market Trend – Product Innovation
Major companies operating in the healthcare adhesive tape market are focused on developing new products to strengthen their position in the healthcare adhesive tapes market. For instance, in April 2022, 3M Inc., a US-based medical devices company operating in the healthcare adhesive tapes market launched, 3M spun lace extended wear adhesive tape on the liner, 4576, a healthcare adhesive tape with a white spunlaced polyester nonwoven backing, coated with a unique pressure-sensitive acrylic adhesive used for longer wear applications, for up to 21 days. The innovative polyester nonwoven tape was developed for extended wear devices requiring attachment to the skin for up to a 21-day wear time.
Healthcare Adhesive Tapes Market Segment
1) By Resin Type: Acrylic, Rubber, Silicone, Other Resin Types
2) By Backing Material Type: Paper, Fabric, Plastic, Other Backing Material Types
3) By Application: Surgery, Wound Dressing, Splints, Secure IV Line, Ostomy Seal, Hygiene, Bandages, Transdermal Patches, and Blister Protection, Diagnostic, Monitoring and Medical Devices, and Optical Care, Other Applications
Healthcare Adhesive Tapes Market Major Players and Strategies
Major players in the healthcare adhesive tapes market are 3M, Cardinal Health Inc., Nitto Denko Corporation, Johnson & Johnson Services Inc., Paul Hartmann AG, NICHIBAN Co. Ltd., Smith & Nephew, Lohmann GmbH & Co.KG, Avery Dennison Corporation, Medline Industries Inc., Essity Aktiebolag, Scapa Group PLC., Henkel Adhesives Technologies India Private Limited, tesa SE, and Parafix Tapes & Conversions Ltd.
In December 2021, Boyd Corporation, a US-based pioneer of engineered materials and thermal management technologies, acquired MBK Tape Solutions for an undisclosed amount. Through this acquisition, Boyd Corporation aims to enhance its medical material science capabilities for applications such as biosensors, transdermal patches, and enhanced wound care. MBK Tape Solutions is a US-based manufacturer specializing in manufacturing medical adhesive tapes used for healthcare.
The Healthcare Adhesive Tapes Global Market Report 2023 covers regional data on healthcare adhesive tapes market size, healthcare adhesive tapes market trends and drivers, opportunities, strategies, and healthcare adhesive tapes market competitor analysis. The countries covered in the healthcare adhesive tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Healthcare adhesive tape refers to pressure-sensitive tape that sticks and stays in place with firm pressure. They can be made from various materials, but most are breathable for comfort and ease of use. The healthcare adhesive tapes are used to offer the holding of a bandage or other dressing onto a wound.
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