Medical Tape Market Expected to Reach $3.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Medical Tape Market," The medical tape market size was valued at $2.5 billion in 2021, and is estimated to reach $3.7 billion by 2031, growing at a CAGR of 3.8% from 2022 to 2031.

Medical tapes hold breathing tubes in place, secure intravenous lines and help people manage post-operative drains, ports and other devices. When tape is improperly selected, applied without the proper protection such as skin barriers, repeatedly changed, left on too long, or removed too quickly, it may cause a Medical Adhesive-Related Skin Injury (MARSI). However, before using a new medical tape the product description should be read properly and then do a skin test. When the medical tape is received, testing of the medical tape on a small patch of skin that isn't connected to the medical device or wound care in important. Further, the tape must be left in place to check if the skin reacts to it before using it on a larger area or on an injury. The bad part about medical tape working so well is that it can be difficult to remove from the skin and once it is removed, the tape can sometimes leave behind a residue. It causes skin to dry out and that can be rough on sensitive or fragile skin. There is a better way to remove medical tape adhesive. The best way to remove the tape and residue is to use adhesive remover. When medical tape is purchased, it is advised to pick up some adhesive remover to use for removing it. Adhesive remover is available in "sting-free" features which means it does not have any alcohol in it so there is no need to have to deal with the drying effects of alcohol.

The medical tape market trends like increase in incidences of incisions and amputations, surge in use of medical tape in securing the dressings and bandages, increase in number of sports injuries, and rise in number of wound care services drive the growth of the medical tape market size. Introduction of new and advanced products are further expected to provide lucrative opportunities for medical tape industry growth. However, availability of alternative wound care products impede the medical tape market share.

The impact of COVID-19 pandemic on the medical tape industry was fairly negative owing to the deny and cancellation of the wound care services during the phase of pandemic. In addition, the number of surgical procedures performed were also reported to be low and reduced. For instance, according to the article published by McKinsey & Company named ‘Cutting through the COVID-19 surgical backlog’ in October 2020, the emergency department visits declined by more than 40% in April compared to 2019, which may have led to fewer patients presenting with indications for surgical intervention in the U.S. Although the FDA has taken many actions to help ensure that patients and health care providers have timely and continued access to high-quality medical devices and supplies to respond effectively. These actions include issuing Emergency Use Authorizations (EUAs) and guidance documents to provide recommendations and help expand the availability and capability for various therapeutic, and protective medical devices and supplies in high demand during the COVID-19 public health emergency.

By product, the market is classified into fabric tapes, paper tapes, plastic tapes and others. The plastic tapes segment is projected to exhibit the highest CAGR of 4.3% during the medical tape market forecast period due to its increased demand in the ambulatory surgical centers.

By application, the market is classified into surgery, wound dressing secure IV lines and others. The wound dressing segment is expected to exhibit the highest CAGR of 4.1% during the forecast period due to higher incidence of wounds related to road accidents, burns, and other injury conditions.

By end user, the market is classified into hospitals, ambulatory surgery centers, clinics and others. The hospitals segment is projected to exhibit the highest CAGR of 4.2% during the forecast period, owing to increase in preference of the healthcare professionals for using the medical tapes in hospitals for the patients in securing IV lines.

By Region, the market is studied across North America (U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, Australia, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and Rest of LAMEA). Asia-Pacific is also expected to grow at the highest CAGR of 4.7% during the medical tape market forecast, owing to increase in number of accidents on regular basis and rise in awareness related to different medical tape for medical and surgical use.

KEY FINDINGS OF STUDY

• By product, the paper tape segment accounted for major share of the global medical tape market in 2021.
• By application, the wound dressing segment is anticipated to grow with the highest CAGR of 4.1% during the medical tape industry forecast period.
• By end user, the hospitals segment is anticipated to grow with the highest CAGR of 4.2% during the forecast period.
• By region, Asia-Pacific is anticipated to grow at the highest CAGR of 4.7% during the medical tape market analysis period.