Medical Adhesive Tapes Market Share to Hit USD 14.5 Billion by 2030: Fact.MR Report
12 Oct 2022
AcquisitionCollaborate
Increasing number of surgeries being performed across the world are set to bolster medical adhesive tapes market expansion over the coming years.
NEW YORK, Oct. 12, 2022 /PRNewswire/ -- Sales revenue of the global medical adhesive tapes market in 2022 is valued at US$ 9.3 billion and is projected to reach US$ 14.5 billion by the end of 2030.
Rise in chronic diseases has led to an increased rate of hospitalizations and surgeries across the world and this is expected to primarily drive the demand for medical adhesive tapes across the forecast period. Increasing investments in healthcare infrastructure development in emerging economies such as India, China, and Brazil are also expected to favor medical adhesive tapes market growth through 2030.
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Key medical adhesive tape manufacturers are focusing on the development and launch of new tapes to increase their sales potential and gain a competitive edge over other companies.
Key Takeaways from Market Study
The global medical adhesive tapes market currently accounts for a value of US$ 9.3 billion.
Shipments of medical adhesive tapes are slated to rise at a steady 5.7% CAGR through 2030.
By 2030, the global medical adhesive tapes market is anticipated to reach US$ 14.5 billion.
Growing aging population, increasing number of surgeries being performed, high incidence of diabetes, obesity, and other chronic diseases, and increased focus on wound care management are prominent drivers for market growth.
However, volatility in raw material pricing and strict regulatory norms are anticipated to have a restraining effect on overall market growth through 2030.
Demand for acrylic-based medical adhesive tapes is anticipated to increase at a CAGR of 7% over the next eight years to hold a valuation of US$ 5.1 billion by 2030-end.
The market in China is projected to surge at 10% CAGR and reach US$ 3.3 billion by 2032.
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Medical adhesive tape companies are focusing on the expansion of their business scope through mergers, collaborations, acquisitions, and partnerships to strengthen their sales potential across the world.
In April 2021, Meridian Adhesives Group, a global adhesion solution provider announced the acquisition of Pacific Adhesive Systems (PAS), a Malaysian company providing high-performance adhesive and coating solutions. Meridian strengthened its market stance in the global landscape through this acquisition.
In December 2021, Boyd Corporation, a leading innovator of thermal management technologies announced the acquisition of MBK Tape Solutions, which is known for manufacturing innovative adhesive products for stick-to-skin applications. The acquisitions strengthened Boyd's medical material science capabilities for various medical applications.
Top players in the medical adhesive tapes market are anticipated to invest in product innovation and fast-track the launch of new products to maximize revenue generation capacity through 2030.
In May 2022, 3M Company, an American multinational organization announced the launch of its new medical adhesive. 3M Spunlace Extended Wear Adhesive Tape on Liner, 4576, was specially developed for wearable health devices attached directly to the skin that require a wear time of up to 21 days.
Top Industry Players of
Medical Adhesive Tapes
Parafix Tapes & Conversions Ltd.
Nichiban
Paul Hartmann AG
Segments of Medical Adhesive Tapes Industry Research
By Resin Type:
Acrylic
Silicone
Rubber
Others
By Backing Material:
Paper
Fabric
Plastic
Others
By Adhesion:
Single-sided
Double-sided
By Application:
Surgeries
Splints
Secure IV Lines
Ostomy Seals
Others
By Region:
North America
Latin America
Europe
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Winning Strategy
Medical adhesive tape manufacturing companies are expected to adopt strategies that help them bolster their market presence and advance revenue generation capacity. Medical adhesive tape manufacturers are expected to develop and launch products that are geared towards advanced wound care to maximize their business scope going forward.
A comprehensive account of all the strategies adopted by major and minor market players has been detailed in this latest medical adhesive tapes market research report by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
More Valuable Insights
on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global medical adhesive tapes market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2030.
The study divulges essential insights on the market on the basis of resin type (acrylic, silicone, rubber, others), backing material (paper, fabric, plastic, others), adhesion (single-sided, double-sided), and application (surgeries, wound dressings, splints, secure iv lines, ostomy seals, others), across five major regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).
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About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That's why focus on offering insights that can actually make a difference to bottom-lines.
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