rising number of surgical procedures worldwide is driving the Medical Tapes And Bandages Market
Technavio analyzes that the Medical Tapes And Bandages Market is expected to grow at a CAGR of 6.4% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 2646.2 million.There are various factors that contribute to the growth of the market. The global medical tapes and bandages market is experiencing significant growth due to the increasing number of surgical procedures being performed worldwide. This trend is driven by an aging population, rising healthcare expenditures, and advancements in medical technology. Medical tapes and bandages are essential medical supplies used in wound care and surgical procedures, making them indispensable in the healthcare industry. The market is expected to continue its growth trajectory in the coming years, driven by these and other factors.
In the healthcare industry, hospitals serve as significant consumers of medical tapes and bandages due to their extensive use in emergency departments. These departments, staffed with specialized physicians, nurses, and healthcare practitioners, provide critical care services for various medical conditions, including diabetic foot ulcers, sports injuries, road accidents, chronic diseases, and surgical wounds. The increasing number of hospitalizations, often resulting from these conditions, necessitates the procurement of medical supplies in bulk. Hospitals also offer invasive, minimally invasive, and non-invasive surgical procedures, further increasing the demand for wound care products. Patient safety and post-surgical care are top priorities, making medical tapes and bandages essential components of hospital supplies. The prevalence of dislocations and pressure ulcers during extended hospital stays also contributes to the market growth for these products.
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Medical Tapes And Bandages Market Segmentation
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The Medical Tapes and Bandages Market encompasses a range of products used in wound healing and chronic wound management, including diabetic wound care, antimicrobial dressings, and compression bandages. These supplies play a crucial role in patient care, from surgical site infection prevention and wound debridement to tissue regeneration and scarring prevention. Medical devices, such as health monitoring devices and silicone tapes, also contribute to this market. Wound assessment and surgical procedures necessitate various medical tapes and bandages, including non-stick dressings, hydrocolloid dressings, and gauze tapes. Additionally, this market caters to injury-specific needs, such as muscle strains, joint injuries, bone healing, sports medicine, and trauma wounds. Diabetes management and post-surgery recovery also involve the use of medical tapes and bandages, as well as ankle support and burn care. Bandage application is a common requirement in hospital care and traffic safety.
The global life sciences tools and services market encompasses organizations involved in the research and development (R&D) of a range of product categories, including capital equipment, instruments, accessories, and consumables. These products are utilized in the pharmaceutical and biotechnology industries, as well as for laboratory diagnosis of various diseases. Key market drivers include the growing elderly population, necessitating increased healthcare expenditures, and the need for infection control and efficient healing processes in hospitals and surgical treatments. Technavio projects the market's expansion, primarily due to the rising demand for surgical devices and bandages in moist environments to prevent infection and promote healing in lacerations. The market's size is determined by the consolidated revenue generated by manufacturers of equipment, supplies, pharmaceuticals, biotechnology, and life science tools and services.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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