Market Overview:
As per this new industry analysis by Persistence Market Research, the global adhesive bandages market was valued at US$ 452.5 million in 2021 and is projected to exhibit a CAGR of 3.1% between 2022 and 2032. Adhesive Bandages Market is expected to reach US$ 634.4 million by the end of 2032,
Sports injuries can cause fractured bones, cuts, bruises, strains, sprains, tears, and other disorders. Increase in the number of injuries caused by leisure activities such as cycling and other sports is set to drive the demand for adhesive bandages. Soft tissue, cartilage, and skin injuries are becoming more frequent.
Adhesive bandages, also known as sticking plasters or just plasters, are small-sized medical dressings used for not-so-serious injuries. They are typically made of a thin, absorbent pad with an adhesive backing. Adhesive bandages are used to protect minor cuts, scrapes, and burns from infection and dirt. They are also used to hold dressings in place.
Market Factors:
Here are some of the key market factors for adhesive bandages:
Rising prevalence of chronic wounds: Chronic wounds are a major public health problem, affecting an estimated 2.5 million people in the United States alone. The most common types of chronic wounds are diabetic foot ulcers, venous leg ulcers, and pressure ulcers. These wounds can be difficult to heal and can lead to serious complications, such as infections and amputations. Adhesive bandages are an effective and convenient way to treat chronic wounds, and their popularity is growing as the prevalence of these wounds increases.
Growing geriatric population: The global geriatric population is expected to reach 2 billion by 2050. As people age, they are more likely to experience chronic conditions that increase their risk of wounds, such as diabetes and vascular disease. Additionally, older adults are more likely to fall and suffer from injuries that require wound care. Adhesive bandages are a safe and easy-to-use option for wound care, and they are becoming increasingly popular among the geriatric population.
Rising demand for minimally invasive surgeries: Minimally invasive surgeries are becoming increasingly popular as they offer a number of advantages over traditional open surgeries, such as shorter recovery times and less pain. These surgeries often result in smaller incisions, which can be effectively treated with adhesive bandages. As the demand for minimally invasive surgeries increases, so does the demand for adhesive bandages.
In addition to these key market factors, there are a number of other factors that are driving the growth of the adhesive bandages market, such as:
- Increasing awareness of the importance of wound care: Consumers are becoming increasingly aware of the importance of wound care, and they are demanding more effective and convenient products. Adhesive bandages meet this demand, and their popularity is growing as awareness increases.
- Advancements in technology: Adhesive bandages are constantly being improved with new technologies, such as advanced adhesives and dressings that promote healing. These advancements are making adhesive bandages more effective and comfortable, and they are driving demand for the products.
- Growing popularity of sports and outdoor activities: As participation in sports and outdoor activities increases, so does the risk of injuries that require wound care. Adhesive bandages are a convenient and effective way to treat these injuries, and their popularity is growing as participation in these activities increases.
The adhesive bandages market is a dynamic and growing market that is being driven by a number of factors. As the prevalence of chronic wounds, the geriatric population, and minimally invasive surgeries increases, the demand for adhesive bandages is expected to continue to grow.
The market is also projected to grow due to the increasing number of surgeries that result in surgical wounds would. Due to COVID-induced lockdowns, it was observed that there was a 48% decrease in surgical volumes in the United States. However, as things opened up, surgery rates rebounded rapidly.
Increasing age slows down the healing process. High risk of chronic disease in the aging population makes them more susceptible to chronic wounds. Also, other problems such as heart and blood vessel issues that arise with growing age limit the supply of nutrients to the wounds, making them worse. This rise in the aging population marks an opportunity for market growth.
As a result of the increasing demand for adhesive bandages across the world, key market players are focusing on product innovation & development and the launch of bandages with different themes.
For instance:
- On June 15, 2021, Johnson & Johnson launched new OURTONE
strips. These strips are available in three shades of brown, giving communities of color more bandage alternatives.
Key Takeaways from Market Study
- In 2021, medicated adhesive bandages accounted for 65.4% share of the market owing to the increase in the number of accidents.
- Due to increasing demand for safe, convenient, and efficient adhesive bandages, the woven fabric materials segment dominated the market with 46.9% market share.
- The wound management segment led the application category, accounting for 40.1% market share.
- Hospital pharmacies dominated the distribution channel category with a market share of 44.3%.
- North America topped the list by region with a market share of 35.4% at the end of 2021.
“The adhesive bandages market is anticipated to see steady growth over the forecast period owing to the increasing number of injuries & chronic wounds and surgical procedures being carried out across the world,” according to a researcher of Persistence Market Research.
Market Competition
- 3M Company
- Cardinal Health Inc.
- ConvaTec Group Plc
- B. Braun SE
- Beiersdorf Aktiengesellschaft
- Dynarex Corp.
- Johnson and Johnson
- Medline Industries Inc.
- Medtronic Plc
- Smith and Nephew plc
- Nitto Denko Corporation
Product development technologies, partnerships, collaborations, mergers, and acquisitions are being prioritized by key market participants such as Medline Industries Inc. and Elkem who are manufacturing and bringing new products into their portfolios.
- A strategic alliance was formed in November 2021 between Curad, a registered trademark of Medline Industries, and renowned illustrator and artist Kendra Dandy. As a?part of the partnership, her unique artwork will be shown on CURADs traditional adhesive bandages. With the intention of healing in style, the new bandage range features motifs including pineapple, papaya, banana, and dragon fruit.
- In February 2021, Elkem agreed to purchase a brand new facility in France near Lyon that was specially created for the production of highly specialized organo functional silicones (OFS).
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Key trends in the adhesive bandages market –
Advanced materials and technologies: Adhesive bandages are being made with increasingly advanced materials and technologies that offer improved performance and benefits. For example, hydrocolloid bandages are made with a material that absorbs wound fluids and creates a moist healing environment, while foam dressings are designed to provide cushioning and protection for wounds.
- Personalized and specialized wound care: Adhesive bandages are becoming more personalized and specialized to meet the needs of specific types of wounds. For example, there are now bandages specifically designed for diabetic foot ulcers, pressure ulcers, and pediatric wounds.
- Integration with digital health: Adhesive bandages are being integrated with digital health technologies to provide patients with more information and support. For example, some bandages are equipped with sensors that can monitor wound healing and send data to a smartphone app.
- Focus on aesthetics and comfort: Consumers are increasingly demanding adhesive bandages that are not only effective but also aesthetically pleasing and comfortable to wear. As a result, manufacturers are developing bandages with a variety of designs and colors, as well as bandages that are made with soft, breathable materials.
- Growing popularity of home care: The increasing popularity of home care is driving demand for adhesive bandages that can be easily and effectively applied at home. As a result, manufacturers are developing bandages with clear instructions and easy-to-open packaging.
These trends are just a few of the many that are shaping the adhesive bandages market today. As the market continues to evolve, we can expect to see even more innovative and effective products emerge.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the adhesive bandages market in its latest study, presenting a historical demand assessment of 2012 to 2021 and projections for 2022 to 2032.
The research study is
- based on the product type (medicated, non-medicated), material (woven fabric, latex strips, others),
- based on the application (wound management, edema control, pain management, orthopedic management, others),
- based on the distribution channel (hospitals pharmacies, retail pharmacies, online pharmacies), across seven key regions of the world.
Persistence Market Research’s Expertise in Life Sciences and Transformational Health
Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life science research products and services to equip decision-makers with sound inputs and strategic recommendations.
About Us:
Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
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