TAGS: Acrylic Adhesives
The global healthcare adhesive tapes market is expected to grow from $31.63 billion in 2021 to $34.03 billion in 2022 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.
The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The healthcare adhesive tapes market is expected to grow to $45.45 billion in 2026 at a compound annual growth rate (CAGR) of 7.5%.
The healthcare adhesive tapes market consists of sales of healthcare adhesive tapes by entities (organizations, sole traders, and partnerships) that are used to offer the holding of a bandage or other dressing onto a wound. Healthcare adhesive tape refers to pressure-sensitive tape that sticks and stays in place with firm pressure. They can be made from various materials, but most are breathable for comfort and ease of use.
The main types of resins for healthcare adhesive tapes are acrylic, rubber, silicone, and other resin types. Acrylic healthcare adhesive tape is a resin-based, two-part adhesive, comprised of acrylic or methyl acrylic polymers. The various types of backing materials include paper, fabric, plastic, and other backing material types applied in surgery, wound dressing, splints, secure IV line, ostomy seal, hygiene, bandages, transdermal patches, blister protection, diagnostic, monitoring, medical devices, optical care, and others application.
Fastest Growth in Asia Pacific Region
North America was the largest region in the healthcare adhesive tapes market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in healthcare adhesive tapes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The increasing number of accidental cases due to heavy traffic is expected to propel the growth of the healthcare adhesive tape market going forward. Road traffic accidents are defined as collisions involving two or more objects on the road, one of which is a moving vehicle of any sort, and the other of which is a person. Healthcare adhesive tapes such as bandages, gauze, and other dressings are applied to the skin around such injuries occurred in accidents.
For instance, in June 2022, according to World Health Organization, a Switzerland-based specialized agency of the United Nations responsible for international public health, between 20 and 50 million people suffer non-fatal injuries, with many incurring a disability as a result of their injury due to a road traffic accident. Road traffic accidents take the lives of almost 1.3 million individuals annually. Therefore, an increasing number of accidental cases due to heavy traffic are driving the healthcare adhesive tape market.
Trend: Product Innovation
Product innovation is a key trend gaining popularity in the healthcare adhesive tapes market. Major companies operating in the healthcare adhesive tape market are focused on developing new products to strengthen their position in the healthcare adhesive tapes market. For instance, in April 2022, 3M Inc, a US-based medical devices company operating in the healthcare adhesive tapes market launched, 3M spun lace extended wear adhesive tape on the liner, 4576, a healthcare adhesive tape with a white spunlaced polyester nonwoven backing, coated with a unique pressure-sensitive acrylic adhesive used for longer wear applications, for up to 21 days. The innovative polyester nonwoven tape was developed for extended wear devices requiring attachment to the skin for up to a 21-day wear time.
In December 2021, Boyd Corporation, a US-based pioneer of engineered materials and thermal management technologies, acquired MBK Tape Solutions for an undisclosed amount. Through this acquisition, Boyd Corporation aims to enhance its medical material science capabilities for applications such as biosensors, transdermal patches, and enhanced wound care. MBK Tape Solutions is a US-based manufacturer specializing in manufacturing medical adhesive tapes used for healthcare.
The countries covered in the healthcare adhesive tapes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major players in the healthcare adhesive tapes market are 3M , Cardinal Health Inc., Nitto Denko Corporation, Johnson & Johnson Services Inc., Paul Hartmann AG, NICHIBAN Co. Ltd. , Smith & Nephew, Lohmann GmbH & Co.KG, Avery Dennison Corporation, Medline Industries Inc., Essity Aktiebolag, Scapa Group Plc, Henkel Adhesives Technologies India Private Limited, tesa SE, and Parafix Tapes & Conversions Ltd.
Source: Research and Markets