The healthcare adhesive tapes market size is projected to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51%

Wednesday, May 1, 2019 General News
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NEW YORK, April 30, 2019 /PRNewswire/ -- Growth in demand for healthcare adhesive tapes in surgery, wound dressing, bandages, transdermal patches, and blister protection is driving the market.Read the full report: The healthcare adhesive tapes market size is projected to grow from USD 27.2 billion

in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. The growth of the market is primarily due to the increasing use of healthcare tapes in surgery, wound dressing, bandages, transdermal patches, and blister protection. China continues to lead the market in APAC as well as globally. Recent advancements in medical technology are propelling the healthcare adhesive tapes and creating opportunities for the manufacturers to develop new products for emerging applications. Furthermore, the rise in aging population and advancements in medical procedures will continue to drive the demand for healthcare adhesive tapes in the healthcare industry, including hygiene, drug delivery, wound care, splints, surgeries, and other applications. Declining birth rates and very high diaper penetration rate in matured markets such as the US, Japan, and Western European countries has led to stagnant demand for hygiene products in these regions as the baby diaper segment is a major consumer of hygiene adhesive tapes.Increase in the demand for plastic backing material from various applications in the healthcare industry is expected to fuel the demand for healthcare adhesive tapes.Plastic tapes include PET, PP, PU, PE, and these tapes allow air to reach the wound and moisture to evaporate.Their transparency makes them ideal in situations where constant monitoring of skin/dressing is needed.Plastic healthcare adhesive tapes can also be solid (without pores), making them water-resistant. Plastic tapes are stronger than paper tapes and can hold heavy secure dressings, tubing, and can be used for related healthcare procedures.Wound dressing is expected to be the fastest-growing application during the forecast period.A dressing is used by a doctor or patient to cover a wound to heal and keep it away from infection or complications.Dressings are designed in such a way that they come in direct contact with the wound.There are four types of wound dressings such as hydrocolloid, hydrogel, alginate, and collagen.Healthcare adhesive tapes are used to keep these dressings intact for better wound healing.These tapes secure dressings onto a wound and hold catheters & drainage lines in place. They are conformable, soft and come with a strong adhesive quality ensuring safe use in critical taping solutions.APAC to record the highest growth rate during the forecast period.The APAC healthcare adhesive tapes market is expected to register the highest CAGR during the forecast period, due to the rising demand for healthcare adhesive tapes from economies, including India, China, South Korea, Vietnam, Taiwan, and Singapore, among others.China is expected to lead the demand for healthcare adhesive tapes due to the increased industrial production.It is also reportedly among the largest consumers of healthcare adhesive tapes at the global level.The increasing number of cosmetic surgeries and developing healthcare infrastructure in the emerging countries are the other key factors that are expected to offer growth opportunities to the market players.To leverage the high growth opportunities for healthcare adhesive tapes in the emerging markets, manufacturers are strategically focusing on expanding their presence in China, India, and Japan.In-depth interviews were conducted with chief executive officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the healthcare adhesive tapes market.• By Company type: Tier 1 – 64%, Tier 2 – 27%, and Others – 9%• By Designation: C Level – 30%, Director Level – 60%, and Others – 10%• By Region: Europe – 50%, North America – 20%, APAC – 12%, South America – 11%, and the Middle East & Africa – 7%The healthcare adhesive tapes market comprises major solution providers, such as 3M (US), Cardinal Health, Inc. (US), Nitto Denko Corporation (Japan), Johnson & Johnson Services, Inc (US), PAUL HARTMANN AG (Germany), Avery Dennison Corporation (US), NICHIBAN Co., Ltd. (Japan), Smith & Nephew (UK), Lohmann GmbH & Co.KG (Germany), Scapa Group Plc (US), Medline Industries Inc. (US), and Essity Aktiebolag (PUBL) (Sweden). The study includes an in-depth competitive analysis of these key players in the healthcare adhesive tapes market, with their company profiles, recent developments, and key market strategies.Research Coverage:The market study covers the healthcare adhesive tapes market across segments.It aims at estimating the size and the growth potential of this market across different segments based on resin, backing material, application, and region.The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.Key Benefits of Buying the Report:The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall healthcare adhesive tapes market and the subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies.The report will also help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.Read the full report: About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: US: (339)-368-6001 Intl: +1 339-368-6001

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