Medical Tapes & Bandages Market Size

Medical Tapes & Bandages Market Analysis

The medical tapes & bandages market is expected to register a CAGR of 4.1% over the forecast period (2022-2027).

The medical tapes & bandages market has been significantly impacted by the COVID-19 pandemic, particularly in its early stages. The disruptions in the supply chain, postponements of surgical services by hospitals and clinics, and low demand from end-user industries impacted the market negatively. For instance, as per the news published by Nova Scotia Health in April 2022, most elective and non-urgent surgeries have been delayed at the QEII Health Sciences Centre in Nova Scotia due to the hospital's growing COVID-19 patient population. This has negatively impacted the demand for medical tapes & bandages in clinical settings. Furthermore, the report titled 'Wound care during the COVID-19 pandemic: improving outcomes through the integration of telemedicine' published in February 2021, stated that wound care services were misclassified as elective care and the patients were at risk of developing wound infections. Later, telemedicine improved wound care patients' outcomes as well as provided high patient satisfaction rates with the services. As a result, the demand for medical tapes & bandages is less initially but later has a significant impact on the market due to telemedicine.

The major growth drivers of the medical tapes & bandages market are the rising incidence of wound infections and increasing patient safety concerns, along with the growing burden of pressure ulcers, and diabetic foot ulcers. For instance, the study titled 'Human Wound and Its Burden: Updated 2020 Compendium of Estimates' published in March 2021 stated that the incidence of foot ulcers globally is between 9.1 and 26.1 million per year. Foot ulcers are more prevalent in North America (13%) compared to Europe (5.1%) with a global average of 6.4%. Thus, with the increase in the incidence of wounds and foot ulcers, the demand for medical tapes & bandages is expected to increase which is anticipated to have a positive impact on the growth of the studied market.

Additionally, the growing burden of diabetic foot is further expected to complement the growth of the medical tapes & bandages market. For instance, as per the report titled 'The current burden of diabetic foot disease' published in February 2021, the recurrence of a diabetic foot ulcer is about 40% within 1 year after ulcer healing, almost 60% within 3 years, and 65% within 5 years. Thus, the need for medical tapes & bandages is more in the proper maintenance of diabetic foot. Therefore, due to the above-mentioned factors, the medical tapes & bandages market is expected to grow over the forecast period.

However, factors such as the high cost of advanced dressing and allergic effects of medical adhesive are expected to restrain the medical tapes & bandages market during the forecast period.