Medical Adhesive Tapes Market Insights: Driving Medical Advance

• Posted by Stephen Lobo Mar 11 - Filed in Business - #Medical Adhesive Tapes Market Forecast  #Medical Adhesive Tapes Market  #Medical Adhesive Tapes Market Size  #Medical Adhesive Tapes Market Growth  #Medical Adhesive Tapes Market Share  - 62 views

  The Medical Adhesive Tapes market reports provide a detailed analysis of area market expansion, competitiveness, global and regional market size and growth analysis. It also offers recent developments such as market share, opportunity analysis, product launch and sales analysis, segmentation growth, market innovation and value chain optimization and SWOT analysis. The latest reports on the market cover the current impact of COVID-19 on the market. This has brought about some changes in market conditions. Early and future assessments of rapidly changing medical adhesive tapes market scenarios and impacts are covered in the report. Sales revenue of the global medical adhesive tapes market in 2021 is valued at US$ 8.6 billion and is projected to reach US$ 11.5 billion with 6.1% CAGR by the end of 2026. The market research report provides a comprehensive overview of the medical adhesive tapes market latest trends, size, regulations, key players, and strategies. The report offers valuable insights into the market's sales and revenue, type, applications, regions, and leading players with expert reviews.

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  Silicone is the second-largest resin type in the overall medical adhesive tapes market

  Silicone is the second-largest resin type in the overall medical adhesive tapes market as they can withstand higher temperatures than rubber-and acrylic-based medical adhesive tapes. Over the past few years, the demand for silicone medical adhesive tapes has increased in the stick-to-skin market of the medical sector. These tapes have lower peel adhesion compared to synthetic rubber and acrylic tapes. These tapes are widely used for fragile skin, such as infant babies and elderly patients with comorbidities causing the skin to be more delicate. These tapes are also useful for repeat application on the same portion of the skin.

  Paper is the fastest-growing segment of the market during the forecast period

  Paper is a widely used backing material that adheres lightly to an individuals skin. It is most widely used for people (adults and infants) with sensitive skin. These are widely used for applications such as dressing and fixation of tubes. These tapes provide excellent comfort compared to the fabric medical adhesive tapes. Hence, they find significant applications in cases involving elderly patients. These tapes are also preferred in cases involving frequent redressing of wounds. The paper backing material is eco-friendly; it can be easily recycled and re-pulped. Therefore, it is a good choice in regions with stringent environmental regulations, such as Europe and North America. The increasing awareness about adhesive tapes in different end-use industries has led tape manufacturers to focus on products that can replace other fastening systems.

  These factors have increased the demand for low-cost backing material such as paper for manufacturing tapes, majorly in South American and Asia Pacific countries such as India, South Korea, China, and Indonesia.

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  Asia Pacific is projected to be the fastest-growing market for medical adhesive tapes

  The Asia Pacific is projected to be the fastest-growing market for medical adhesive tapes, in terms of value, due to the improving healthcare services and the rising level of income in this region. The rising population of the region, along with high disposable income and improved healthcare activities in this region, is driving the medical adhesive tapes market. Nitto Denko Corporation (Japan) and Nichiban Co., Ltd. (Japan) are the important players in this region. The manufacturing sector in Asia Pacific (excluding Japan), especially consumer products, is growing rapidly. Moreover, various new production facilities in the region, both export-oriented and domestic, utilize the latest manufacturing processes which are designed to use medical adhesive tapes instead of traditional mechanical fastening equipment.

  China is a hub for assembling industrial products, majorly because of low labor costs. Fueled by booming economies such as China, India, and other countries in the Asia Pacific region, the medical adhesive tapes market is growing at a strong pace.

  Medical Adhesive Tapes Market Key Players

   

  Major vendors in the medical adhesive tapes market include 3M company (US), Medtronic PLC (US), Medline Industries (US), Avery Dennison Corporation (US), Johnson & Johnson (US), Smith & Nephew plc (United Kingdom), Nichiban (Japan), Paul Hartmann AG (Germany), Nitto Denko Corporation (Japan) and Scapa Group PLC (United Kingdom).

  Medtronic Inc. occupies second position due to its global distribution capabilities and its strong financial background that strengthens its market position. The company has expanded in markets in Latin America and Asia -Pacific. The company’s Minimally Invasive Therapies Group is further divided into Surgical Solutions and Patient Monitoring & Recovery. It offers medical tapes and bandages under its Patient Monitoring & Recovery subsegment. This business segment primarily sells incontinence, wound care, enteral feeding, urology, and suction products. On August 2021, Medtronic plc, the global leader in medical technology, announced that it has entered into a definitive agreement with Intersect ENT, a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care, under which Medtronic will acquire all outstanding shares of Intersect ENT for USD 28.25 per share in an all-cash transaction with an enterprise value of approximately USD 1.1 billion.

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  Recent Developments

  • In August 2021, Medtronic Plc., the global leader in medical technology, announced that it has entered into a definitive agreement with Intersect ENT, a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care, under which Medtronic will acquire all outstanding shares of Intersect ENT for USD 28.25 per share in an all-cash transaction with an enterprise value of approximately USD 1.1 billion.
  • In June-2021, Medline finalized the acquisition of a large portion of Teleflex's Hudson RCI brand of respiratory consumables.
  • In May-2021, With a USD 1.5 billion investment, Medline enhances the domestic healthcare supply chain.
  • In September-2021, Johnson & Johnson's manufacturing facility in Ringaskiddy, Ireland, continues to expand. After completing a USD 354 million expansion in 2019, the corporation intends to increase the site's capacity even more.
  • In November 2020, Medtronic Plc. acquired France-based Medicrea International, a leader in the development of spine surgery with artificial intelligence (AI), predictive modeling, and patient-specific implants.
  • In October-2020, Johnson & Johnson finalized its all-cash acquisition of Momenta Pharmaceuticals, Inc., a firm that discovers and develops innovative medicines for immune-mediated disorders, for about USD 6.5 billion.

  Frequently Asked Questions (FAQ):

  • What is the mid-to-long term impact of the developments undertaken in the industry? 

  • What are the upcoming technologies used in medical adhesive tapes industry? 

  • Which segment has the potential to register the highest market share? 

  • What is the current competitive landscape in the adhesive tapes market in terms of new technologies, production, and sales? 

  • What will be the growth prospects of the medical adhesive tapes market?