According to the latest report published by Credence Research, Inc. “Adhesive Bandages Market – Growth, Future Prospects and Competitive Analysis, 2018-2026,” the global adhesive bandages market was valued at USD 1,895.0 Mn in 2017, and is expected to reach USD 2,914.3 Mn by 2026, expanding at a CAGR of 4.8% from 2018 to 2026.
Adhesive bandages market expected to project steady growth throughout the forecast period from 2018 to 2026 due to key factors such as increasing number of sports events, trending culture of practicing sports & fitness to build active lifestyle, and increasing awareness related to prevention of sepsis in diabetic patients. The self-wound care term is always associated with strip bandage dressing or commercially known as ‘Band-Aid’ coined by Johnson & Johnson. Adhesive bandages are predominantly used by people for minor injuries or cuts as they help to protect these wounds, and assists the quick recovery. One of the major reason for increasing application of adhesive bandages is the high healthcare costs because doctor’s visit & wound dressing will cost more compared to adhesive bandage.
Adhesive bandages are of two type flexible fabric bandage, and cohesive fixation bandage; flexible fabric bandage was observed as the largest segment in 2017 due to key driving factors such as high patient convenience, and rising awareness related to several applications of flexible fabric bandages. The materials used to make adhesive bandages are woven fabric, plastic, foam, and tricot. Woven fabric & plastic together accounted for the market share of 63.7% and expected to maintain their dominance throughout the forecast period 2018 to 2026. The key factors responsible for dominance of these segments were rising awareness related to complications associated with wound, and increasing demand for convenient, safe, & efficient adhesive bandages.
Browse the full report Adhesive Bandages Market – Growth, Future Prospects and Competitive Analysis, 2018-2026 at https://www.credenceresearch.com/report/adhesive-bandages-market
North America was identified as the largest adhesive bandages market globally due to major driving factors such as rising prevalence of diabetes as these patients have high risk of sepsis, and increasing health awareness is assisting the participation of people in sports & recreational activities. According to the latest report published by the Centers for Disease Control and Prevention in 2017, more than 100 million U.S. adults are living with diabetes or prediabetes and if prediabetes condition is not treated within five years it leads to type 2 diabetes. In addition to that, demographically rate of diagnosed diabetes was higher among American Indians/Alaska Natives (15.1%), Hispanics (12.1%), and non-Hispanic blacks (12.7%) compared to non-Hispanic Whites (7.8%) and Asians (8.0%).
Market Competition Assessment:
The adhesive bandages market is growing at steady rate and major companies present in this market are investing in development of more cost-efficient, convenient and safe products. The key strategies of these players is to increase awareness in developing and under-developed countries of the world. The companies present in this market are Johnson & Johnson, Beiersdorf, 3M, Medline Industries, Smith & Nephew, B. Braun Melsungen, ConvaTec, Lohmann & Rauscher, and Acelity among others.
Key Market Movements:
• Increasing awareness in diabetic patients related to the complications related to wound or cuts
• Rising health cautiousness in working population leading to significant rise in the sports & recreational activities that lead to acute wounds or cuts
• High efforts carried out by market leaders to increase awareness related to application of adhesive bandages in underdeveloped countries
The Global Adhesive Bandages Market is Segmented into:
|Segmentation||Type of Adhesive Bandages Segment (2016–2026; US$ Mn)|
|Type of Material Segment (2016–2026; US$ Mn)|
|Geography Segment (2016–2026; US$ Mn)|
*Complete segmentation list is on report page