Market Size of Surgical Headband Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Surgical Headband Market Analysis
The surgical headband market studied is anticipated to grow with a CAGR of nearly 4.9%, during the forecast period.
The COVID-19 pandemic significantly impacted the surgical headband market due to the lockdown and delayed or canceled surgical cases by different countries around the world and partial or full closure of surgical clinics due to the high influx of COVID-19 patients. For instance, as per the article published in December 2021 in PubMed, most American hospitals' surgical care was severely impacted by delaying all essential and nonessential surgeries during the COVID-19 pandemic, and hospitals' overall revenue was significantly reduced as a result. Hence, COVID-19 had a significant impact on the surgical headband market. However, the studied market is anticipated to bounce back from the decline of COVID-19 throughout the projection period due to the rise in surgeries and declining COVID-19 instances.
Certain factors that are driving the market growth include the increasing number of surgeries, rising healthcare expenditure, and technological advancements. The growing burden of diseases and innovative medical treatments account for nearly two-thirds of the rise in spending. The volume of knee and hip replacement surgeries has increased worldwide in recent years, and persistent wound drainage is a well-known complication following these procedures, which commonly leads to the increased usage of surgical headbands. For instance, as of the June 2022 update by CIHI, in 2020-2021, 55,300 hip and 55,285 knee replacements were performed in Canada. The high number of surgical procedures is expected to drive the demand for the surgical headband market.
Furthermore, strategic initiatives like mergers, acquisitions, and expansions by the key players are expected to drive market growth. For instance, in August 2022, Wockhardt Hospital, Mumbai Central launched a diabetes surgery clinic. This clinic will provide preventive and therapeutic care in the treatment of diabetes. The surgery treats diabetes by reducing insulin resistance, which helps in controlling the sugar levels in the blood. After undergoing diabetic surgery, the effect on the blood sugar is seen immediately within a couple of days of the surgery. Thus, surgery requires surgical headbands and this can potentially increase the demand of the market studied.
Hence, due to the rise in surgery cases and the increase in the utilization of surgical headbands in surgery clinics, the market studied is expected to witness significant market growth over the forecast period. However, issues associated with the lights and heat are expected to restrain the market growth.
