PUBLISHER: Grand View Research | PRODUCT CODE: 1375894
PUBLISHER: Grand View Research | PRODUCT CODE: 1375894
The global medical tapes and bandages market size is anticipated to reach USD 12.22 billion by 2030, according to a new report by Grand View Research, Inc.. The market is projected to grow at a CAGR of 3.42% from 2023 to 2030. Technological advancements, rising wound care awareness, novel product launches, rising number of road accidents, and rising incidence of hospital-acquired infections (HAIs) are the key driving factors for the market growth.
Medical tapes and bandages are becoming more effective and convenient due to constant advances in adhesive technology and materials. These developments enhance patient outcomes and boost market expansion. For instance, in February 2023, researchers from Northwestern University created the first-ever tiny, elastic bandage that delivers electrotherapy.right to the wound site to speed up healing. This transient electronic bandage accelerates recovery by 30%. In addition, the bandage constantly tracks the course of recovery until it dissolves completely into the human body once it is no longer required. For individuals with diabetes, whose ulcers can result in several problems, including amputation of limbs or even death, the novel device may be a valuable tool. Thus, due to such factors, the market is expected to grow in the near future.