Healthcare Adhesive Tapes Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033

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The healthcare adhesive tapes market is no longer a dormant sector, with its size recording impressive growth in recent years. Predictions suggest this upward trajectory will continue, with market value set to rise from $37.13 billion in 2023 to $40.12 billion in 2024 at a compound annual growth rate CAGR of 8.1%. This growth in the historic period is precipitated by numerous factors such as increased surgical procedures, an aging population, a rise in chronic diseases, and increased regulatory compliance.

Anticipated Market Size and Growth Rate of the Global Healthcare Adhesive Tapes Market by 2024?

Surging demand and key market trends forecast that the healthcare adhesive tapes market is expected to continue its impressive growth trajectory. Market experts predict the market to grow to a staggering $56.04 billion in 2028 at a CAGR of 8.7%. This futuristic prediction is based on prevalent trends like increasing remote care and telemedicine, home healthcare, personalized medicine, emergency response, and rising demand for geriatric care services. These trends, coupled with increasing incidents of road traffic accidents, are stimulating the healthcare adhesive tapes market.

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So, What Factors are Propelling the Growth of the Healthcare Adhesive Tape Market?

Groundbreaking as it may seem, the increased number of accidents due to heavy traffic holds significant sway in propelling the growth of the healthcare adhesive tape market forward. Road traffic accidents—essentially collisions involving two or more objects on the road, one of which is a moving vehicle—have not just raised concerns over safety but also augmented the need for healthcare adhesive tapes. These include bandages, dressings, and gauze that are applied to injuries resulting from such accidents. As per a World Health Organization report from June 2022, between 20 and 50 million people suffer non-fatal injuries, many of which result in disability, due to road traffic accidents. These unfortunate incidents continue to drive the demand for the healthcare adhesive tape market.

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Who Are the Key Industry Players in the Healthcare Adhesive Tapes Market?

Numerous companies are currently operating in the healthcare adhesive tapes market, including 3M Company, Cardinal Health Inc., Nitto Denko Corporation, Johnson & Johnson, Paul Hartmann AG, and Avery Dennison Corporation, to name a few. The market game is competitive, with all the players striving to cement their foothold by continually innovating and improving their product offerings.

What Are the Key Market Trends and Innovations?

Product innovation is the new norm in the healthcare adhesive tapes market. Companies are actively developing new products to strengthen their position in the market. For instance, in April 2022, 3M Inc., a US-based medical devices company operating in the healthcare adhesive tapes market, launched the 3M spun lace extended wear adhesive tape on the liner, 4576. This innovative product, developed for extended wear devices requiring attachment to the skin for up to a 21-day wear time, has given a fresh spin to the healthcare adhesive tape market.

How Is the Healthcare Adhesive Tapes Market Segmented?

The healthcare adhesive tapes market is segmented into:

1 By Resin Type: Acrylic, Rubber, Silicone, Other Resin Types
2 By Backing Material Type: Paper, Fabric, Plastic, Other Backing Material Types
3 By Application: Surgery, Wound Dressing, Splints, Secure IV Line, Ostomy Seal, Hygiene, Bandages, Transdermal Patches, and Blister Protection, Diagnostic, Monitoring and Medical Devices and Optical Care, Other

What Are the Regional Insights Into the Healthcare Adhesive Tapes Market?

North America enjoyed the lion's share in the healthcare adhesive tapes market in 2023, while the Asia-Pacific region is expected to outrace other regions in terms of growth during the forecast period. The healthcare adhesive tapes market report covers several regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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