Wilmington, Delaware, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Global Medical Tape Market value is estimated at a market value of US$ 2.8 billion in 2023 and is expected to grow at a significant CAGR of over 3.8% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
The medical tape market is influenced by various drivers that contribute to its growth and continued demand. As healthcare spending increases globally, the demand for medical tape grows. More funds are allocated to medical facilities, leading to higher consumption of medical supplies, including tape. Further, the aging population requires more medical care, which often involves the use of medical tape for wound care, securing medical devices, and other applications. This demographic trend is driving the demand for medical tape.
The increasing prevalence of chronic diseases such as diabetes and obesity, as well as the growing number of sports injuries, is leading to a higher demand for medical tape. Medical tape manufacturers are constantly developing new and improved products, such as tapes that are more breathable, hypoallergenic, and water-resistant. This is helping to fuel the growth of the medical tape market. Moreover, the growing awareness of healthcare-acquired infections is leading to a higher demand for medical tapes that can help to prevent the spread of infection.
- According to a deep-dive market assessment by RationalStat, the global medical tape has been analyzed on the basis of market segments, including type, crop type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global medical tape covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global medical tape. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Medical Tape Market: Segmental and Market Share Analysis
- On the basis of type, plastic tapes segment is dominating the global medical tapes market owing to factors such as strength, durability, water resistance, and hypoallergenic.
- Based of application, the wound dressing segment is dominating the global medical tape market based on application. Medical tapes are used in wound dressing to secure dressings in place, protect the wound from infection, and promote healing. There are a variety of different medical tapes available for wound dressing, depending on the type and severity of the wound.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.8 billion |
| Market Size Forecast | US$ 3.7 billion |
| Growth Rate | 3.8% |
| Key Market Drivers |
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| Dominating Region |
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| Dominating Segment |
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| Companies Profiled |
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Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge 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 the global medical tape include,
- In July 2023, Fuller Company expands portfolio with acquisition of Adhezion Biomedical. The acquisition of Adhezion ─ which 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’ experience in converting tapes and flexibles materials.
Some of the prominent players and suppliers operating and contributing 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 has segmented the global medical tape based on type, application, and region.
- Global Medical Tape Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Type
- Fabric Tapes
- Paper Tapes
- Plastic Tapes
- Others
- Global Medical Tape Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Surgery
- Wound Dressing
- Secure IV lines
- Others
- Global Medical Tape Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Medical Tape Market
- US
- Canada
- Latin America Medical Tape Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Medical Tape Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe 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
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Medical Tape Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Medical Tape Market
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Key Questions Answered in the Medical Tape Report:
- What will be the market value of the global medical tape by 2030?
- What is the market size of the global medical tape?
- What are the market drivers of the global medical tape?
- What are the key trends in the global medical tape?
- Which is the leading region in the global medical tape?
- What are the major companies operating in the global medical tape?
- What are the market shares by key segments in the global medical tape?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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