Surgical tapes are products deployed to cure wounds and secure wound dressings. Surgical tapes have witnessed preference over other products in various healthcare infrastructure facilities such as hospitals owing to product features such as waterproof nature, breathable, and non-adherence to hair.
Surge in number of cosmetic procedures is the key growth driver for global surgical tapes market.
Also, increasing demand to treat patients suffering from different wounds and ailments has driven product demand and fueled the growth in overall surgical tapes market. Growth in number of medical procedures at various healthcare infrastructure units has also increased product demand and augmented the growth in overall surgical tapes market.
The global surgical tapes market is expected to grow at a compound annual growth rate (CAGR) of 5.9% during the forecast period between 2021 and 2031. The global market valuation is estimated to reach US$10.7Bn at the end of the forecast period.
Rising Prevalence of Diabetic Ulcers Augments Growth in Overall Surgical Tapes Market
Also, rising population sections suffering from diabetic ulcers in leading economies globally has increased the demand for surgical tapes and stimulated the growth in global market.
Innovations to existing surgical tapes has also increased product demand to cure patients suffering from different diseases and helped the overall market growth.
Development in mhealth segment with increased investments by leading market players and launch new applications which would help patients book appointments and could help the segment as fastest growing market, in future.
Supportive Government Measures Propels Surgical Tapes Market
Government initiatives and measures such as offering funding to leading market players to produce improved surgical tapes that could be deployed different types of wounds has triggered the growth in overall surgical tapes market.
Other factors such as increasing accident rate and growing population in leading economies has also contributed to growth in global surgical tapes market.
Hospital end-use segment has made the largest contribution to overall surgical tapes market because of increasing products demand for different surgical procedures in leading economies globally.
Asia Pacific Emerges as Dominant Region in Global Surgical Tapes Market, Europe Offers Lucrative Growth Potential for Future
In terms of region, Asia Pacific has emerged as maximum revenue-generating region in global surgical tapes market because of growing demand for low-cost surgeries among patients and developing healthcare infrastructure facilities in countries such as India, contributing hugely to market growth in the region.
Ease of availability of key resources such as land and labor could lead to leading market players establishing surgical tapes production units in Asia Pacific countries in future, which could assist in market growth in the region.
It is projected that Europe will offer profitable revenue-generating opportunities for leading players in global surgical tapes market because of increasing aging population and presence of developed healthcare infrastructure facilities in countries such as UK and Germany.
Leading mhealth market players in Europe could make investments in the segment which could help the segment emerge as largest revenue generator in the coming years.
The global surgical tapes market has several well-established market players, which has led to intense competition. Some of the prominent players include 3M Company, Nitto Denko Corporation, Paul Hartmann AG, and Avery Dennison Corporation. Emergence of novel players could further intensify the competition in global market, in future.
New Product Launches Could be Key Growth Strategy for Leading Market Players in Future
Launch of novel surgical tapes could help leading players create novel, revenue-generating opportunities and gain a competitive edge over other players.
RD undertakings could also be key, revenue-generating growth strategy for leading surgical tapes market players, in future.
Prominent surgical tapes market players could sign collaborative agreements with smaller players in a bid to expand their market presence and increase their revenue shares.
The global surgical tapes market is segmented as follows:
By Backing Material
Paper
Plastic
Fabric
Others
By Adhesive Type
Silicone
Acrylic
Rubber
Others
By Application
Surgeries
Wound Dressings
Securements
Others (Splints, etc.)
By Regions
North America
Latin America
Europe
South Asia
East Asia
Middle East Africa
Oceania
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