MEDICAL TAPES MARKET ANALYSIS

Global medical tapes market is estimated to be valued at US$ 1,794.5 Mn in 2023 and is expected to exhibit a CAGR of 3.9% during the forecast period (2023-2030).

Analysts’ Views on the Global Medical Tapes Market:

Increasing prevalence of road accidents, rising cases of injuries, and increasing surgeries are expected to drive the global medical tapes market growth over the forecast period. For instance, according to the report published by National Informatics Center, in 2021, over 4, 12,432 road accidents were reported in India out of which,153,972 died, and 384,448 people had severe injuries. Unfortunately, the worst affected age group in road accidents is 18-45 years that accounts for about 67%of the total number of accidental deaths.

Figure 1. Global Medical Tapes Market Share (%), By Product Type, 2023

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Global Medical Tapes Market - Drivers

Increasing Incidence of Road Accidents

Increasing incidence of road accidents which can cause injuries is expected to drive the global medical tapes market growth over the forecast period. For instance, in June 2022, according to World Health Organization (WHO),  1.3 million people die every year as a result of road traffic crashes. The vulnerable road users account for more than half of all traffic fatalities: pedestrians, cyclists, and motorcyclists. 93% of the world's fatalities on roads occur in low- and middle-income countries, even though these countries have approximately 60% of the world's vehicles.

Increasing Cases of Injuries

Increasing cases of injuries is expected to drive the global medical tapes market growth over the forecast period. For instance, on April 5, 2023, according to Safe Work Australia, over 497,300 (3.5%) individuals of the working population experienced a work-related injury or illness in in 2021-22 in Australia.

Figure 2. Global Medical Tapes Market Value (US$ Million), By Region, 2023

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Global Medical Tapes Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global medical tapes market over the forecast period. North America is estimated to hold 47.5% of the market share in 2023. North America global medical tapes market is expected to witness significant growth in the coming years due to factors such as increasing prevalence of road accidents and injuries.

Global Medical Tapes Market - Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the virus spread to over 100 countries worldwide, and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced disruptions in the transportation of drugs.

However, the COVID-19 pandemic had negative impact on the global medical tapes market. Amid the coronavirus outbreak, various hospitals and ambulatory surgical centers postponed or cancelled a large number of surgical procedures to safeguard the wellbeing of healthcare professionals and patients. For instance, in November 2021, according to an article published by Journal of Surgical Research, there was a 91% reduction of patients undergoing elective surgical procedure from 2020-2021. This decrease in elective surgical procedures highlights the negative impact of the COVID-19 pandemic on the global medical tapes market. However, after the pandemic, as hospitals and other healthcare institutions have opened up with COVID-19 mitigations there is an increase in the elective surgeries that tends to growth of   tapes market.

Global Medical Tapes Market- Segmentation

Global medical tapes market report is segmented into product type, application, end user, and region.

By Product Type, the market is segmented into adhesive tape, elastic tapes, silicone tapes, paper tape, and silk cloth tapes. Out of which, the adhesive tape segment is expected to hold a dominant position in the global medical tapes market during the forecast period, owing to increasing wounds due to road accidents and injuries as well as surgeries.

By Application, the market is segmented into wounds and injuries and surgeries and securement. Out of which, the surgeries and securement segment is expected to hold a dominant position in the global medical tapes market during the forecast period, owing to increasing prevalence of chronic diseases such as cancer and diabetes, and road accidents.

By End User, the market is segmented into Hospitals, Ambulatory Surgical Centers, Clinics, and Home Care Settings. Out of which, the hospitals segment is expected to dominate the market over the forecast period, owing to increasing prevalence of road accidents and chronic diseases, and treatment of disease in hospital.

 By Region, North America is expected to dominate the global medical tapes market over the forecast period and this is attributed owing to the rise of surgeries and hospital admissions for chronic diseases.

Among all the segmentations, the product type segment has the highest potential due to increasing prevalence of road accidents over the forecast period. So, the key players are focusing on growth strategies such as product launches. For instance, on February 6, 2023, 3M, a multinational conglomerate operating in the worker safety, healthcare, and consumer goods industries, launched its new medical adhesive that can stick to the skin for up to 28 days, and is intended for use with a wide array of health monitors, sensors, and long-term medical wearable. Prior to 2022, the standard wear time for extended medical adhesives was up to 14 days. 3M doubled that standard to help deliver a more patient-centric model of care.

Global Medical Tapes Market- Cross Sectional Analysis

Rising incidence of road accidents as well as chronic diseases in emerging economies lead to the increase in number of surgeries and securement which tends to dominate the medical tape market in North America. For instance, on January 23, 2023, according to Forbes Media LLC, in 2020, a total of 35,766 fatal car accidents held on roadways of the United States. Of which 1,593,390 crashes resulted in injuries and 3,621,681 caused property damage. This figure indicates that a total of 5,250,837 collisions occurs every year.

Global Medical Tapes Market: Key Developments

In March 2022, Ahlstrom, a manufacturer of fiber-based products, launched MasterTape Pack Green, a sustainable alternative for plastic Pressure Sensitive Adhesive (PSA) packaging tape backings.

In March 2021, ATP Adhesive Systems, a solvent free and water based adhesive tape producer acquired BDK Industrial Products, a U.K.-based adhesive tape converter company, as part of its strategy to expand internationally. Acquisition of water-based adhesives tapes manufacturer will result in the expansion of a range of solutions and an increase in product service offerings.

In September 2020, Nitto Denko Corporation, a Japanese company that produces tapes, vinyl, LCDs, insulation, and several other products announced a five-year extension of its highly successful partnership with ATP Tour, Inc., a worldwide top-tier tennis tour for men until 2025. Through this partnership, Nitto Denko Corporation will continue as a title partner of the season-ending Nitto ATP Finals, in partnership with ATP Tour, Inc., Italian Tennis Federation (FIT), and the city of Turin. Nitto Denko Corporation will also become a year-round Gold Partner of ATP Tour, Inc. and its Official Athletic Tape Sponsor.

In October 2021, Healthium Medtech Limited, a global medtech company that focuses on products used in surgical, post-surgical, and chronic care, announced the launch of TRUSHIELD NXT surgical wound dressing, adding to its portfolio of patented products in the wound care and infection prevention segments. In addition to wound care, Healthium Medtech Limited current product portfolio focusses on the advanced surgery, urology, and arthroscopy products.

Global Medical Tapes Market: Key Trends

Rising Demand for Silicone Tapes

There has been rising demand for silicone tapes as these tapes are soft and flexible, and are ideal as skin adhesives. These are used in traumatic dressings as it provide a suitable environment for faster wound healing and protection against external influences such as bacteria and moisture, and thus, enhancing patient quality of life. For instance, in February 2020, according to an article published by the Research Gate, this study aims to compare the efficacy and safety of silicone tapes as compared to microporous tapes in patients with fragile skin.

Increasing Cases of fall

Increasing cases of injuries is projected to augment the market growth over the forecast period. For instance, on March 2021, according to WHO, 4.4 million injury-related deaths, unintentional injuries take the lives of 3.16 million people every year. Roughly 1 in 3 of these deaths result from road traffic crashes, 1 in 6 from suicide, 1 in 10 from homicide and 1 in 61 from war and conflict.

Global Medical Tapes Market: Restraint

Availability of Advanced Wound Care Products

The preference for advanced wound care methods such as negative pressure wound therapy, foam dressings, and antimicrobial dressings, is increasing as compared to conventional wound care methods. Availability of Medical tapes for the blood loss prevention can be implemented. For instance, in March 2020, Smith+Nephew, a global medical technology business, announced the launch of the new PICO 14 single-use Negative Pressure Wound Therapy System (sNPWT) in the U.S. that has a pump duration of up to 14 days.

Global Medical Tapes Market - Key Players

The major players operating in the global medical tapes market include 3M, Johnson & Johnson Services, Inc., Paul Hartmann AG, Scapa Group Ltd (Acquired by Mativ), Milliken, ATL Corp., Medtronic, Medline Industries, LP, Cardinal Health, Smith+Nephew, and McKesson Corporation.

*Definition - A medical tape is an adhesive tape that is specifically designed to be used directly on the skin to hold wound bandages or other first aid or medical appliances in place. It needs to be skin safe, easy-to-use, and strong enough to work well when skin is moving, bending, or damp. Medical tapes can be used directly on the skin for supporting the placement of bandages, tubes, or other medical devices. Facestocks for medical tapes include paper, plastics, foams, or various fabrics. Three of the most commonly used medical tapes are paper, transparent, and cloth. Other types of medical tapes include retention tapes, waterproof tapes, and silicone tapes.