Medical Adhesive Tapes Market – Increasing Aging Population to Boost Growth | Technavio

LONDON–(BUSINESS WIRE)–#AdhesiveTapes–The global
medical adhesive tapes market is expected to grow at a CAGR of close
to 6% from 2017-2021, according to a new market research report by
Technavio.

Global medical adhesive tapes market segmentation by backing material
and geography

Technavio’s report on the global medical adhesive tapes market analyses
the business dimensions and presents a comprehensive breakdown in terms
of market segmentation by backing material, including fabric, paper, and
plastic. As projected in 2016, around 37% of the market share originated
from the fabric segment. The global medical adhesive tapes market by the
fabric segment is exhibiting growth because of the increasing use of
these tapes in surgeries, sports facilities, wound dressings, and
securing IV lines.

Based on geography, the global medical
adhesive tapes market has been segmented into APAC, EMEA, and the
Americas. In 2016, the Americas dominated the global medical adhesive
tapes market with a share of around 45% because of technological
advances.

“Technological advances and rising focus on hygiene will drive the
demand for medical adhesive tapes in the Americas. The US accounts for
the largest market share in the Americas. Canada and Brazil are expected
to be the key consumers of medical adhesive tapes due to the increasing
application of these tapes in surgeries, wound dressings, securing IV
lines, ostomy, burn injury, and sports-related facilities. Technological
advances have led to the emergence of acrylic and silicon resin-based
medical adhesive tapes in these countries,” says Kurva Samba Sivudu,
a lead analyst at Technavio for specialty
chemicals research.

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Global medical adhesive tapes market: competitive vendor landscape

The global medical adhesive tapes market is dominated by large players
such as 3M, Johnson & Johnson Services, Scapa Group, NITTO DENKO
CORPORATION, Smith & Nephew, and Medtronic. Manufacturers introduce
innovative products to increase their market shares. Key players in the
global medical tapes market have introduced tapes exclusively for
professional sports. Skin-sensitive tapes for premium customers help
vendors increase their market shares. As the market is characterized by
innovation and intense competition among the key players, the threat of
new entrants is low.

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Other topics covered in the report:

Market drivers:

• Flourishing medical tourism industry in APAC
• Increase in global aging population

Market challenges:

• Increasing cost pressure on manufacturers
• Competition from substitute medical tapes

Market trends:

• Shift to environment-friendly, green products
• Increasing investments in the medical industry

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medical adhesive tapes market report free of cost

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