Indian Medical Tapes and Bandages Market 2022-2028

Indian Medical Tapes and Bandages Market 2022-2028

The Indian medical tapes and bandages market was valued at INR 2,296 crore in 2021 which is expected to reach INR 3,362 crore in 2028 at a CAGR of 5.8%. Medical adhesive tapes and bandages are designed for a variety of healthcare applications. It is used to secure wound care dressing, secure wounds and skin, compression bands, and other healthcare devices. The medical tapes and bandages are an essential part of any medical procedure. The growth of the market is attributed to the rising cases of burning and road accidents. According to the National Health Portal of India, around 7 million people suffer from burn injuries every year with 1.4 lakh deaths and 2.4 lakh people suffering from a disability. Out of 5 burn victims, 4 are women and children. Burns is the fifth most common cause of non-fatal childhood injuries and the 11th leading cause of death of children aged 1-9 years.

Similarly, according to the Ministry of Road Transport & Highways, a total number of 449,002 road accidents took place in the country in 2021 leading to 151,113 deaths and 451,361 injuries. The ministry had identified 5,583 black spots where frequent accidents occur. Such a high prevalence of burn injuries, as well as road accidents, increases the demand for medical tapes and bandages which is propelling the growth of the market.

Medical tapes and bandages are widely used for traumatic wound treatment in India, which was valued at INR 996 crore in 2021 and is predicted to reach INR 1,424 crore by 2028 at a CAGR of 5.4%. Traumatic wounds comprise skin tears, lacerations, abrasions, bites, and penetrating trauma wounds. Several wound tapes are available for traumatic wound treatment such as Curi-strip, Nichi-Strip, Steri-Strip, and 3M Steri-Strip.

The other segment includes IV site dressings, fractures, and diagnostic use. This segment is expected to grow fastest during the forecast period from INR 57 crore in 2021 to INR 88 crore by 2028 at a CAGR of 6.6%. Major companies that are offering diagnostic medical tapes that include 3M 9964 Clear Polyester Diagnostic Microfluidic Medical Tape and RESPONSE Single Coated 0.5 mil PET 1.2 mil RESPONSE - 02 2.0 mil Clear Polyester (PET).

The sports injury treatment segment is expected to grow with the third-highest CAGR of 6.2% during the forecast period from INR 89 crore in 2021 to INR 135 crore by 2028. This growth is attributed to the increasing sports involvement amongst people under supportive government initiatives, like Khelo India, International Yoga Day, and others. Medical bandages are used by athletes to manage joint pain, reduce swelling and provide protection and support to the management of wounds caused due to sports injury. Thus, with the rising sports activity, the market for medical tapes and bandages will also grow significantly.

The key players in the Indian medical tapes and bandages market include 3M Co., B. Braun Melsungen AG, Johnson & Johnson Services, Inc., Cardinal Health, Smith & Nephew PLC, and others. These market players have a strong product portfolio which contributes to their business growth. Major strategies adopted by these market players include mergers and acquisitions, product launches, and geographical expansion. These market players are significantly contributing to the global medical tapes and bandages market. For instance, Johnson & Johnson Services, Inc. launched Band-Aid brand bandages in light and dark shades in June 2021, including brown and black skin tones to embrace racial diversity.