Rising awareness about advanced wound care is expected to hinder the growth of the medical tapes market. Advanced wound accelerates the healing process for many chronic wounds by providing and promoting a moist environment. As basic/traditional wound care products take a large amount of time to heal wounds and are less effective for certain types of wounds, advanced wound care products are being used as first-line therapy wherever infection control and healing speed are major concerns. Considering their effectiveness, coupled with the limitations of basic/traditional wound dressings, advanced and active wound care products are seen as a prominent restraint for the market.
The global medical bandages market is projected to reach USD 7.39 Billion by 2022 from 6.13 Billion in 2017, at a CAGR of 3.8%. Some of the factors driving the growth of this market are the increasing number of surgeries and the growth in geriatric population.
The medical tapes and bandages market into product type, end user, application, and region. By product type, the market is categorized into medical tapes and bandages. In 2016, the medical bandages segment accounted for the largest share of the market. This can be attributed to the high number of surgical procedures, increasing aging population, and a rise in medical conditions which require surgical intervention.
By applications, the market is segmented into surgical treatment, traumatic & laceration injury treatment, sport & burn injury treatment, ulcer treatment, and treatment of other injuries and wounds. The ulcer treatments segment is expected to grow at the fastest rate during the forecast period, due to the rising number of patients with ulcers due to growth in the diabetic population.
Based on end users, the market is categorized into hospitals, clinics, ambulatory surgical centers, and homecare setting. The hospitals segment accounted for the major share of the market in 2016, owing to a large number of surgical procedures performed in hospitals.
This report covers the market across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Of the four geographic regions studied in the report, Asia-Pacific is expected to register the highest growth rate during the forecast period mainly due to rising an aging and diabetes-prone population.
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