They maintain a moist environment around the wound to accelerate the healing process. In comparison to traditional cloth or gauze bandages, plastic ones provide improved durability, flexibility, permeability to air and moisture.
The global plastic bandages market is estimated to be valued at US$ 11.14 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the plastic bandages market are Johnson & Johnson, BSN Medical, 3M, Acelity L.P. Inc., Medline Industries Inc., ConvaTec Inc., Lohmann & Rauscher GmbH & Co. KG, Nitto Denko Corporation, and B. Braun Melsungen AG. These players account for a significant share of the global market.
The plastic bandages market offers significant opportunities due to increasing healthcare spending worldwide and launch of advanced plastic bandage products with added features. Market leaders are investing heavily in innovation and new product developments to strengthen their market position.
Globally, the plastic bandages market is expected to witness high growth in Asia Pacific region due to rapidly growing medical tourism industry and demand for cost-effective wound care solutions due to large patient population. Key players are focusing on expanding their operations in emerging Asian countries through partnerships and collaborations with local players.
Market Drivers
Increased incidence of accidents, injuries and chronic wounds worldwide is a key factor driving demand for plastic bandages for quick wound care. Growing geriatric population prone to injuries and lifestyle diseases also boosts market growth.
Extended shelf-life and easy storage of plastic bandages over conventional cloth bandages drives preference among consumers and healthcare professionals. Wide availability and cost-effectiveness compared to specialized wound dressings further promotes plastic bandage adoption.
Market Restrains
Availability of alternative wound care options like hydrocolloid and alginate dressings with advanced absorption and protection features can restrain plastic bandage sales. Strict regulations pertaining to ingredients and production of medical devices also negatively impact market revenues.
Segment Analysis
The global Plastic Bandages Market Scope can be segmented based on product type, application, distribution channel, and region. Based on product type, the sterile strip bandages segment dominates the market owing to its widespread usage across hospitals and ambulatory surgical centers. By application, the surgical wounds segment holds the largest market share due to increase in number of surgeries performed globally. Retail pharmacies represent the major distribution channel in the market.
Regional Analysis
The North America dominates the global plastic bandages market and holds the largest share. This is attributed to rising healthcare expenditure and sophisticated healthcare infrastructure in the region. Asia Pacific is expected fastest growing region during the forecast period owing to increasing geriatric population, rising prevalence of chronic wounds, and improving healthcare facilities in emerging nations of China and India.
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