The medical tapes market was valued at USD 8.5 Billion in 2020 and is anticipated to grow at USD 12.61 Billion till 2027 recording a CAGR of 5.8 % during the forecast period 2021-2027.
Global Medical Tapes Market report focuses on new product launchings along wth competitive analysis with vividly exemplified competition dashboard for evaluating the market competition. Furthermore, it focuses on key stakeholders of the market such as policymakers, suppliers, marketers as well as manufacturers involved in producing and supplying of medical tapes.
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Medical tapes are especially used in wound management technologies, which enable air to pass through them and hence do not cause any further harm to the skin. These tapes are hugely used in sports for preventing injuries. The major factor that greatly affect the growth of medical tapes market like increase in concern amid healthcare experts about Healthcare-Associated Infections, which result into huge demand for medical tapes to reduce the effects of the infection. For example, almost 75,000 patients suffering from Healthcare Associated Infections HAIs died during hospitalization. Increasing cases of chronic wounds and growing aging population are expected to impel the medical tapes market.
Due to the increasing market demands, key players of the market are introducing single patient use tapes to obtain huge market revenue. The development in wound closure as well as surgical treatment techniques stirred the wound care market hugely with a number of physicians selecting novel wound care techniques. In spite of all such market advancements, conventional wound care products such as medical tapes have huge demand from healthcare sectors due to its feasibility as well as accessibility in numerous applications
Asia Pacific is leading the global medical tapes market by recording larger revenue share in 2019 in market. Presence of a hue number of emerging key players in the regions and approving patient dynamics are anticipated to record huge growth in the Asia Pacific and Latin America medical Tapes Market and create several growth opportunities for the players of the market.
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There are several major key players operating in global medical tapes market which include 3M Company (US), Avery Dennison Corporation (US), Johnson & Johnson (US), Medtronic Plc (Ireland), Nichiban Co., Ltd. (Japan), Nitto Denko Corporation (Japan), PAUL HARTMANN AG (Germany), Scapa Group PLC (UK) and Smith & Nephew Plc (UK). Industry players are concentrating more on introducing differentiated products with better safety for elders as well as children to obtain huge revenue in the market.
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