Market Trends of Global Adhesive Bandages Industry
This section covers the major market trends shaping the Adhesive Bandages Market according to our research experts:
Hospitals and Clinics are Estimated to Hold Major Share of the Adhesive Bandages Market Over the Forecast Period
The hospitals and clinics are well equipped with first aid facilities available. A growing number of multispeciality hospitals are present across a large number of cities with growing facilities to accommodate emergency admissions of patients. With that, a large number of road accidents, as well as trauma cases, demand hospital admission and life-saving activities, where an urgent and immediate requirement of adhesive bandages is very important.
As per the June 2021 report of the Canadian Institute of Health Information, 63,496 hip replacements and 75,073 knee replacements were performed in the period 2019-2020 in Canada, and there was an average increase of about 5% in recent years in the knee and hip replacement procedures in the country. The rising number of surgeries is expected to propel the growth of the market over the forecast period.
According to the Organisation for Economic Co-operation and Development data on the number of cesarean section procedures, around 21,268 procedures were performed in Ireland in the year 2021, which was an increase of 8.68% from the year 2020. Such an increase in the number of surgical procedures, which employs the use of the adhesive bandages, is likely to add to the market growth.
Maintaining a supply of sticky bandages at such healthcare facilities is difficult and can occasionally be quite expensive for hospitals, patients, and their families. However, owing to the increasing number of surgical procedures being performed, this segment's user base is anticipated to grow steadily.
The recent innovations in the adhesive bandages used in the surgical procedures are expected to propel the growth of the hospitals and clinics segment over the forecast period. For instance, in August 2022, a group of Canadian researchers discovered that the ultrasonic waves could be utilized to adjust the stickiness of adhesive bandages. This novel discovery will significantly help the hospitals and clinics that require adhesive solutions for surgeries. These innovations are expected to boost the growth of the adhesive bandages market over the forecast period.
North America is Estimated to Have Major Share Over the Forecast Period
North America has a well-established infrastructure across a number of healthcare facilities, supported by government policies and structure reimbursement scenarios.
The rising number of surgeries in the region is a major factor contributing to the growth of the market. According to the 2020 Plastic Surgery Statistics Report by the American Society of Plastic Surgeons, 15.6 million cosmetic procedures and 6.8 million reconstructive procedures were performed in the United States in the year 2020. The majority of these procedures require adhesive bandages during the recovery period. Such an increasing number of surgeries is expected to boost the growth of the market over the forecast period.
Some of the primary consumers of adhesive bandages on a large scale are children, parents, and caretakers. Also, to attract the consumer in this market segment, there are several efforts developed to create products that incorporate graphics or eye-catching designs such as stickers, tattoos, holograms, glitter, and color-changing bandages. A wide presence of domestic and international players across the United States and Canada drives the adhesive bandages business in the North American region.
For instance, in June 2021, Johnson and Johnson launched their new OURTONE strips in three distinct shades of brown to help ensure that people of color have more options in the first-aid aisle. Such activities are likely to promote the growth of the adhesive bandages market in the North American region over the forecast period.
