Global Adhesive Bandages Market - 2022-2029

Global Adhesive Bandages Market - 2022-2029:

Market Overview

Adhesive Bandages Market was valued at US$ xx million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of 4.2% during the forecast period (2022-2029).

Adhesive bandages is a dressing of absorbent gauze fixed to plastic or fabric coated with a pressure-sensitive adhesive. It is used to stop blood flow, absorb drainage, cushion the injured area, hold a splint in position, hold a medicated dressing in place, safeguard against contamination, or restrict an injured part of the human body to prevent further injury and facilitate healing.

Market Dynamics

The adhesive bandages market growth is driven by the rise in demand for adhesive bandages due to increasing sports injuries, hunting and trekking activities, an increase in the geriatric population, and new product launches.

The rising incidence of diseases is expected to drive the market growth

The rising rate of injuries and the adoption of adhesive bandages is expected to boost the market over the forecast period. As per the article published in Star Pearls in May 2022, the yearly incidence of diabetic foot ulcers worldwide is between 9.1 to 26.1 million. Approximately 15 to 25% of patients with diabetes mellitus will develop a diabetic foot ulcer in their lifetime. As the number of newly diagnosed diabetics is increasing annually, the incidence of a diabetic foot ulcers is also bound to rise. Diabetic foot ulcers can arise at any age despite being most prevalent in ages 45 and over in patients with diabetes mellitus. The countries where Latinos, African Americans, and Native Americans have the highest incidence of foot ulcers are the United States. The rising incidence of the disease leads to increasing demand for adhesive bandages.

In addition, the market players are adopting the market strategies such as acquisition and product launches. For instance, in August 2021, Elkem ASA introduced silicone adhesive solutions named Silbione MED ADH 4213 and Silbione Biomedical ADH2 M213. These platinum-catalyzed silicone adhesives are designed for applications necessary for a tough elastic bond between various substrates. Also, in November 2021, Curad partnered with Kendra Dandy, a renowned artist and illustrator. Their original designs are to be featured on CURAD's classic adhesive bandages as part of the collaboration. The new bandage product line includes designs such as banana, pineapple, papaya, and dragon fruit, which add a dash of color, flair, and fun with the goal of healing in style.

The alternatives of adhesive bandages will hamper the growth of the market

However, the rising demand for liquid bandages and medical glue for more serious skin lacerations. The rising use of liquid bandages over adhesive bandages due to their ease of use and application, waterproofing and immediate protection continues to limit the market growth of the adhesive bandages market.

COVID-19 Impact Analysis

The appearance of COVID-19 considerably impacted the global adhesive bandages market. According to a study by researchers at the University of Birmingham in the United Kingdom and the University of Cape Town (UCT), more than 28 million elective surgeries worldwide could be canceled in 2020, leading to patients facing a lengthy wait for their health issues to be resolved as a result of the COVID-19 pandemic. This leads to a decreased demand for adhesive bandages to take care of surgeries and after-surgery care.

On the other hand, some key players are engaged in developing and launching adhesive bandages in the market. For instance, In June 2020, Johnson & Johnson, an American multinational company that manufactures medical devices, pharmaceuticals, and consumer packaged goods, introduced bandages in light, medium, and dark brown shades to mark the variety of skin tones.

In addition, in 2022, the COVID-19 situation is recovering, which positively impacts market growth. As medical facilities can access mostly patients and take their regular treatments and the variety of availability of adhesive bandages boosts the market worldwide.

Segment Analysis

The hospitals and clinics segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The hospitals and clinics segment is expected to boost the market over the forecast period. The rising number of surgeries in hospitals is boosting the market for adhesive bandages worldwide. As per the article published in Artificial Intelligence of Intensive Care and Emergency Medicine, it is anticipated that 321.9 million surgeries are performed each year. The rising incidence of disease and injuries leads to increasing demand for adhesive bandages.

In addition, the market player is engaged in innovations in adhesive bandages, which are used in surgical procedures propelling the growth of the hospitals and clinics segment in the market. For instance, in August 2022, a group of Canadian researchers developed ultrasonic waves that could be used to adjust the stickiness of adhesive bandages. This innovation will remarkably help the hospitals and clinics that necessary adhesive solutions for surgeries.

Geographical Analysis

North America region holds the largest market share of the global adhesive bandages market

North America dominates the market for Adhesive Bandages and is expected to show a similar trend over the forecast period. It is estimated to hold a significant market size over the forecast period (2022-2029) owing to the advanced healthcare system, increasing geriatric population and new product launches by key regional players.

As per the 2020 Plastic Surgery Statistics data Report 2020 by the American Society of Plastic Surgeons, in the United States, 15.6 million cosmetic procedures and 6.8 million (an increase of 3% compared to 2019) reconstructive procedures were performed. The mostly these procedures need adhesive bandages in the recovery period. An increasing number of surgeries drives the market in the North American region.

In addition, the market players are adopting different strategies, such as product launches or collaboration, to expand their business in the market. For instance, in April 2021, 3M introduced a novel bandage product line named Nexcare Duo for pain-free removal. Nexcare Duo has a silicone adhesive that offers a long-lasting hold while still being easy to remove. The silicone adhesive was developed by 3M's science and medical technology experts to offer 360-degree wound protection and nonslip grip in a bandage with flexible, water-resistant fabric that can withstand handwashing.

Competitive Landscape

The adhesive bandages market is a moderately competitive presence of local and global companies. Some of the key players which are contributing to the growth of the market are 3M, Smith & Nephew plc, Mediline Industries, Inc, Jhonson and Jhonson, Argentum Medical, B. Braun Melsungen AG, Kinetic Concepts, Dynarex Corporation, Derma Sciences, Paul Hartmann AG., Molnlycke Health Care AB, and Medtronic Plc. among others. The major players are adopting several growth strategies, such as product launches, acquisitions, and collaborations, which contribute to the growth of global adhesive bandages.

For instance,

• In May 2022, 3M launched its most delinquent medical adhesive, 3M Spunlace Extended Wear Adhesive Tape on Liner, for extended wear devices requiring attachment to the skin for up to a 21-day wear time.

• In May 2022, researchers from Israel and China developed a smart microneedle adhesive bandage that monitors and measures in real-time three essential biomarkers that currently require invasive blood draws for medical laboratory tests mostly performed on hospital patients.

3M

Overview:

3M is an American multinational company founded in 1902 and headquartered in the United States. The company develops and distributes innovative products to improve lives, and it offers self-adherent elastic bandages.

Treatment type Portfolio:

Elastic Adhesive Bandage: The 3M elastic adhesive bandages are advisable for post-operation dressing applications. It perfectly complies with the patient’s anatomy, is highly comfortable, and provides a high degree of adhesion.

The global Adhesive Bandages market report would provide access to approximately 75+ market data tables, 75+ figures, and in the range of 250+ (approximate) pages.