Silk cloth tapes are strongly woven tapes with moderate adhesive that readily adheres to dry wounds. Silicone tapes are used for fixation of primary dressings on sensitive skin, whereas paper tapes are gentle, flexible and conformable and are used for highly fragile skins such as for geriatric and pediatric patients.
The global medical tapes market is estimated to account for US$ 2,082.2 Mn in terms of value by the end of 2027.
Global Medical Tapes Market: Drivers
Increasing number of surgical procedures is expected to propel growth of the global medical tapes market over the forecast period. For instance, according to Australian Institute of Health and Welfare’s Hospitals at a glance 2017–18 report updated in August 2019, admissions for emergency surgery increased between 2016-2017 and 2017-2018 by 2.9% in public hospitals and by 5.1% in private hospitals in Australia.
Global Medical Tapes Market: Opportunities
Increasing demand for multi-layered adhesive tapes in neonatal units is expected to offer lucrative growth opportunities for players in the market. Multi-layered tapes in neonatal and elderly care units should be removable through push and pull strategies. Multi-layered silicone tapes are generally the product of choice for such application, owing to low to moderate peel adhesion, high cohesion, excellent solvent and chemical resistance and typically low tacking capacity of these tapes.
Global Medical Tapes Market: Restraints
Lack of guidelines regarding proper selection and usage of medical tapes is expected to hamper the market growth over the forecast period. Skin related injuries due to medical adhesives usage are prevalent albeit being unrecognized. This paves way for formulation of proper guidelines for medical tape selection and application.
The global medical tapes market was valued at US$ 1,317.3 Mn in 2019 and is forecast to reach a value of US$ 2,082.2 Mn by 2027 at a CAGR of 5.9% between 2020 and 2027. Increasing demand for multi-layered adhesive tapes is expected to assist the growth of the market.
Silk Cloth Tape segment held dominant position in the global medical tapes market in 2019, accounting for 30.4% share in terms of value, followed by elastic Tapes, and silicone tape respectively. Increasing Number of Surgical Procedures is anticipated to drive the market growth during the forecast period.
Increasing geriatric population in Asia Pacific is expected to propel growth of the market. For instance, according to United Nations Population Fund, geriatric population in Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.
Moreover, increasing hospital funding is also expected to aid in growth of the market in Asia Pacific. For instance, according to Australian Institute of Health and Welfare’s Hospitals at a glance 2017–18 report updated in August 2019, funding for hospital services increased between 2016-2017 and 2017-2018 by 1.8% per year on average in public hospitals and by 2.9% per year on average in private hospitals in Australia.
Global Medical Tapes Market: Competitive Landscape
Major players operating in the global medical tapes market include, 3M, Johnson & Johnson, Paul Hartmann AG., Scapa Group PLC, Andover Healthcare Inc., Ad Tape & Label, and Medtronic plc.
Global Medical Tapes Market: Key Developments
December 2019: 3M issued an urgent field safety notice to warn of issues with its Durapore Advanced surgical tape and noted that its tape product meets all safety and efficacy criteria
October 2019: 3M acquired Acelity, Inc. and its KCI subsidiaries to expand its advanced wound care and specialty surgical portfolio
Scope of the report