Wilmington, Del., October 16, 2023 (GLOBE NEWSWIRE) — Global medical tape market Value is estimated at market value Reaching US$2.8 billion in 2023 and is expected to grow at a significant rate The compound annual growth rate exceeds 3.8% According to the latest market report, during the forecast period 2023 to 2030 rational statistics
Market Definition, Market Scope and Report Overview
The medical tape market is influenced by various driving factors that contribute to its growth and sustained demand. As global healthcare spending increases, so does the demand for medical tape. More funds are allocated to medical facilities, leading to increased consumption of medical supplies, including tape. Additionally, an aging population requires more medical care, which often involves the use of medical tape for wound care, securing medical equipment and other applications. This demographic trend is driving the demand for medical tape.
The rising prevalence of chronic diseases such as diabetes and obesity, as well as the rising number of sports injuries, have led to an increasing demand for medical tapes. Medical tape manufacturers are constantly developing new and improved products, such as tapes that are more breathable, hypoallergenic and waterproof. This is helping to drive the growth of the medical tape market. Additionally, increasing awareness of healthcare infections has led to increased demand for medical tape that helps prevent the spread of infection.
- Global medical tape analysis based on RationalStat’s in-depth market assessment Based on market segments including type, crop type, application and geography/region (Including North America, Latin America, Western Europe, Eastern Europe, Middle East and Africa, Asia Pacific). The report also provides global and regional market size for the historical period 2019-2022 and the forecast period 2023-2030.
- Global Medical Tape market intelligence covers market size based on market value (USD Million/EUR Million) and volume (Units) for various products/services/devices, demand assessment across key regions, customer sentiment, price points, costs Structure, profit analysis of the entire value chain, financial assessment, historical and forecast data, key developments across the industry, import and export data, trade profiles, component markets of leading companies, etc.
- Additionally, long-term industry and product/service 10-year outlook and its impact on global medical tape. It also includes the current status of the industry—production levels, capacity utilization, technology vendors, etc. Key information includes manufacturing capacity, installed capacity, imports, market size, key players, market size, dynamics, market data, insights, etc. by country.
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Global Medical Tape Market: Segmentation and Market Share Analysis
- Based on type, plastic tapes dominate the global medical tapes market owing to factors such as strength, durability, water resistance, and hypoallergenic properties.
- In terms of application, the wound dressing segment dominates the global medical tape market. Medical tape is used in wound dressings to hold the dressing in place, protect the wound from infection and promote healing. There are many different medical tapes that can be used for wound dressings, depending on the type and severity of the wound.
Report summary
| Reporting metrics | detail |
| base year | 2023 |
| forecast period | 2023-2030 |
| Base year market size | $2.8 billion |
| Market size forecast | US$3.7 billion |
| growth rate | 3.8% |
| Key market drivers |
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| dominant area | |
| Dominate the market segment | |
| Company Profile |
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Competition Analysis and Market Structure
These players adopt various strategies to consolidate their market share and gain a competitive advantage over other competitors in the market. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in medical tape globally include:
- In July 2023, Fuller Company expanded its product portfolio with the acquisition of Adhezion Biomedical.Acquisition of Adhezion — a company that manufactures and distributes highly differentiated, proprietary cyanoacrylate technologies for surgical care, wound management and infection prevention in healthcare settings
- In May 2023, ADDEV Materials announced the acquisition of Parafix, a company with 50 years of experience in tape and flexible materials processing.
Some of the prominent players and vendors that have contributed significantly to the global medical tape growth include Cardinal Health, Jiangxi 3L Medical Products Group Co., Ltd., Winner Medical Group, Inc, Medtronic plc, Paul Hartmann AG, Johnson & Johnson, Smith & Nephew PLC, Dynarex Corporation , Ad Tape & Label Company, Inc, and McKesson Corporation, among others.
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RationalStat breaks down the global medical tape Based on type, application and region.
- Global medical tape market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
- fabric tape
- Paper tape
- plastic tape
- others
- Global medical tape market Value (USD Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
- Surgery
- wound dressing
- safe intravenous infusion tube
- others
- Global medical tape market Value (USD Million), Volume (Units) and Market Share Analysis by Region (2019-2030)
- North American Medical Tape Market
- Latin America Medical Tape Market
- Brazil
- Mexico
- Rest of Latin America
- Western European Medical Tape Market
- Germany
- U.K.
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern European medical tape market
- Russia
- Poland
- Hungary
- Other CIS countries
- Rest of Eastern Europe
- Asia Pacific Medical Tape Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- the Philippines
- Vietnam
- Malaysia
- Other ASEAN countries
- Rest of Asia Pacific
- Middle East and Africa Medical Tape Market
- gulf cooperation council
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Other GCC countries
- South Africa
- Nigeria
- turkey
- Middle East and Rest of Africa
- gulf cooperation council
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Key questions answered in the Medical Tape report:
- What will be the global medical tape market value in 2030?
- How big is the global medical tape market size?
- What are the market drivers for global medical tapes?
- What are the key trends in medical tape globally?
- Which is the leading region for medical tape in the world?
- What are the major companies operating global medical tapes?
- What is the market share of major global medical tape market segments?
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research methodology
RationalStat has developed a state-of-the-art research methodology to process data and provide clients with the best real-time insights. We combine various industry experience, data analysis and expert opinions to create research methodologies for market sizing and forecasting.
RationalStat combines secondary sources and primary research to assess market size and develop forecasts. The key steps involved in deriving accurate market data are:
- Define the problem by understanding the type of market and the data your customers need.
- Data collection and collection is conducted through relevant paid databases, public sources, company reports, annual reports, surveys and interviews.
- Develop hypotheses to create market data, forecasts, influencing factors and their correlations.
- Evaluate and analyze data by reference to the data sources used and utilized.
- Validate, interpret and finalize data with the help of experienced analysts incorporating detailed information collected from primary and secondary sources.
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