Market Trends of Medical Tapes & Bandages Industry
This section covers the major market trends shaping the Medical Tapes & Bandages Market according to our research experts:
Ulcer Treatment Segment is Expected to Register a High Growth Rate During the Forecast Period
The application of medical tapes and bandages in the ulcer treatment segment is expected to register significant growth as there is a high incidence of ulcers during the study period. For instance, according to the United Kingdom's National Diabetes Foot Care Report, published in April 2022, the average crude rate of hospital admissions for foot ulcers in England during 2019-2021 was 13 per 10,000 population. the crude rate is significant which can drive the growth of the study market. Also, the report titled "Overview of Major Ambulatory Surgeries Performed in Hospital-Owned Facilities, 2019" published in December 2021, stated that 11.9 million major ambulatory surgeries took place in hospital-owned facilities in 2019. As a result, there is a sizable demand for medical tapes and bandages that are expected to increase significantly throughout the course of the study period.
The incidence and prevalence of a diabetic foot ulcer (DFU) is increasing over the previous decade with an increasing prevalence of diabetes mellitus (DM). Additionally, the International Diabetes Federation Diabetes Atlas, 10th edition 2021 reported that in 2021, globally there are about 536,600,000 people with diabetes. These significant amounts of diabetic cases will have a positive impact on the diabetic foot ulcer market. Furthermore, as per the results of a research study titled 'Prevalence of pressure ulcers among hospitalized adult patients in Ethiopia: a systematic review and meta-analysis' published in November 2020, the pooled prevalence of pressure ulcers in Ethiopia was 11.7% in 2019.
Therefore, due to the above-mentioned factors, the medical tapes & bandages market is expected to grow in this segment over the forecast period of the study.
North America is Expected to Hold a Significant Share in the Market During the Forecast Period
North America is expected to hold a major market share in the medical tapes & bandages market. The primary factors behind the large market size are high awareness among the patient population, a rising geriatric population, an increasing number of cases of pressure ulcers among the geriatric population, and a surge in demand for dressings. According to the study 'Prevalence, incidence, length of stay and cost of healthcare-acquired pressure ulcers in pediatric populations: A systematic review and meta-analysis' published in March 2021, the overall prevalence of pressure ulcers in 2020 in pediatric populations ranged from 0.47% to 31.2% and incidence ranged from 3.7% to 27%. Thus, the high incidences and prevalence of pressure ulcers will drive the demand for medical tapes & bandages, thus driving the market.
According to the article published by American Burn Association (ABA) in 2020, every year over 450,000 serious burn injuries occur in the United States that require medical treatment. A high incidence of burns is likely to drive the demand for medical tapes & bandages in the country, over the forecast period. Therefore, due to the above-mentioned factors, the medical tapes & bandages market is expected to grow in the United States over the forecast period of the study.
