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Healthcare Adhesive Tapes Market Worth $37.3 Billion by 2023 - Exclusive Report by MarketsandMarkets™
CHICAGO, April 23, 2019 /PRNewswire/ -- According to the new market research report "Healthcare Adhesive Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Paper, Fabric, Plastic), Application (Surgery, Hygiene, Wound Dressing, Secure Iv Lines, Ostomy Seal, Splint, Bandages, Diagnostic), and Region - Forecast to 2023", published by MarketsandMarkets™, the Healthcare Adhesive Tapes Market is projected to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. The major factor driving the healthcare adhesive tapes market includes the increase in demand for surgeries, wound dressings, hygiene, transdermal drug delivery, and many others, owing to their advantages in many medical applications. These adhesive tapes have wide acceptability due to factors such as low cost and easy availability, as compared to traditional medical procedures.
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Acrylic is estimated to be the largest resin segment in the healthcare adhesive tapes market during the forecast period.
The acrylic segment is expected to account for the largest market share during the forecast period because of its better adhesion properties to a variety of substrates. Acrylic adhesive tapes are designed with high or low tack and high or low peel strength. These tapes are permeable to moisture that is measured by the moisture vapor transmission rate (MVTR). Acrylic healthcare adhesive tapes release off from body or skin without leaving adhesive residue. These tapes are preferred for stick-to-skin application because of the breathable nature compared to rubber adhesive tapes.
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Fabric to account the largest share as a backing material in the healthcare adhesive tapes market during the forecast period.
The fabric is the most popular backing material used in the manufacturing of healthcare adhesive tapes. Fabric healthcare adhesive tapes are high in demand as they have high strength, toughness, good abrasion, and heat resistance, low creep at elevated temperatures, good chemical resistance, and excellent dimensional stability. Owing to its strength, these tapes are used for securing dressings, catheters, tubing, and wound dressing and for other medical purposes.
North America to account for the largest share of the healthcare adhesive tapes market during the forecast period.
Various factors have contributed to the growth of the North American healthcare adhesive tapes market. These factors include the rising incidence of chronic wounds, increase in the number of elderly citizens, increasing patient awareness on wound care, aging population, and technological advancements in the healthcare industry. The surgical adhesive tapes application has witnessed steady growth along with an increase in orthopedic and trauma, neurosurgery, cardiovascular, and gastroenterology. The increasing number of orthopedic procedures in the US is driving the demand for bandages and healthcare adhesive tapes.
Major vendors in the Healthcare Adhesive Tapes Market include 3M (US), Cardinal Health, Inc. (US), Nitto Denko Corporation (Japan), Johnson & Johnson Services, Inc. (US), PAUL HARTMANN AG (Germany), Avery Dennison Corporation (US), NICHIBAN Co., Ltd. (Japan), Smith & Nephew (UK), Lohmann GmbH & Co.KG (Germany), Scapa Group Plc (US), Medline Industries Inc. (US), and Essity Aktiebolag (PUBL) (Sweden).
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