The Asia Pacific medical adhesive tapes market is expected to grow at the highest CAGR during the forecast period

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period, which can be attributed to the rising demand for medical adhesive tapes from economies of the Asia Pacific region, including India, China, South Korea, Vietnam, Taiwan, and Singapore, among others. The robust demand in the Asia Pacific is a major driving factor in the global medical adhesive tapes market. China is expected to lead the demand for medical adhesive tapes due to increased industrial production. It is also among the largest consumers of medical adhesive tapes at the global level.

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The growth of the market is restrained by the increasing pricing pressure on market players. Advanced and active wound care products are expected to cannibalize the market for medical adhesive tapes in the coming years considering their effectiveness, coupled with the limitations of basic/traditional wound dressings.

Key players operating in the medical adhesive tapes market include 3M Company (US), Medtronic Plc (Ireland), Nitto Denko Corporation (Japan), Johnson & Johnson (US), Smith & Nephew Plc (UK), Nichiban Co., Ltd. (Japan), PAUL HARTMANN AG (Germany), and Avery Dennison Corporation (US), among others.

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The global medical adhesive tapes market is estimated at USD 6.64 Billion in 2017, and is projected to reach USD 8.76 Billion by 2022, at a CAGR of 5.69% from 2017 to 2022.  The demand for medical adhesive tapes has been increasing rapidly in applications such as surgeries, wound dressings, secure IV lines, splints, and ostomy seals, among others. The rising number of surgeries and high demand for medical products in the Asia Pacific are the key factors contributing to the growth of the market.

The medical adhesive tapes market is segmented based on resin type into acrylic, silicone, and rubber medical adhesive tapes. The silicone medical adhesive tapes segment is expected to grow at a higher CAGR during the forecast period, 2017 to 2022. Over the past few years, the demand for silicone medical adhesive tapes has increased in the stick-to-skin market in the medical sector. These medical adhesive tapes have lower peel adhesion compared to synthetic rubber and acrylic tapes. However, research and development is required to broaden the use of silicone medical adhesive tapes in varied applications.