APAC is expected to account for the largest market for Healthcare Adhesive Tapes

APAC has emerged as the leading consumer and producer of healthcare adhesive tapes. The easy availability of low-cost labor and economical & accessible raw materials are driving foreign investments, thereby increasing the production of healthcare adhesive tapes in the region. The market in APAC is mainly driven by China, which is the leading consumer of healthcare adhesive tapes, globally.

India is expected to be the fastest-growing healthcare adhesive tapes market in APAC during the forecast period. The Indian healthcare & hygiene sector is witnessing a phase of rapid transformation and growth, mainly driven by infrastructure development, changing lifestyle and buyers’ preferences. This is expected to drive the healthcare adhesive tapes market in the APAC region. Many international companies are investing in China and India to cater to the market demand.

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The healthcare adhesive tapes market is projected to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. The major factor driving the healthcare adhesive tapes market includes the increase in demand for surgeries, wound dressings, hygiene, transdermal drug delivery, and many others, owing to their advantages in many medical applications. These adhesive tapes have wide acceptability due to factors such as low cost and easy availability, as compared to traditional medical procedures.

It comes in a variety of lengths and widths that are designed to meet a wide range of bandaging needs. The growth of the market is due to the increasing use of these tapes in wound care and for surgery in emerging economies such as India, China, Thailand, Indonesia, Brazil, and Argentina.

Designed specifically for use in healthcare applications, adhesive tape bandages may be used on fragile or at-risk skin, as well as in moist skin environments. Air permeable, they allow outside air to penetrate and reach the underlying dressing or skin, creating a “breathable” healing and support solution. Transdermal drug delivery patches are used in therapeutic systems to deliver the drug at a controlled rate in a systematic circulation of discrete dosage by utilizing the passive diffusion of drugs when applied to the skin. These tapes deliver the infusion of the drug over a period of time and can be terminated any time by removing the patch. These tapes are similar to the wound tapes, flat and they consist active pharmaceutical ingredients and adhesives which deliver the drugs to the body via human skin.

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Key Market Players
The major vendors in the healthcare adhesive tapes market are 3M (US), Cardinal Health, Inc. (US), Nitto Denko Corporation (Japan), Johnson & Johnson Services, Inc. (US), PAUL HARTMANN AG (Germany), Avery Dennison Corporation (US), NICHIBAN Co., Ltd. (Japan), Smith & Nephew (UK), Lohmann GmbH & Co.KG (Germany), Scapa Group Plc (US), Medline Industries Inc. (US), and Essity Aktiebolag (PUBL) (Sweden). Nitto Denko Corporation (Japan), is one of the largest healthcare adhesive tapes companies. This company has a strong global presence. It has a diversified product portfolio to cater to end-use industries according to their requirements. To sustain its dominating position, the company may enter into new industries and target new markets.

New Product Development, Investment & Expansion, and Merger & Acquisition, to Expand their Presence in the Global Healthcare Adhesive Tapes Market.

The healthcare adhesive tapes market size is projected to grow from USD 27.2 billion in 2018 to USD 37.3 billion by 2023, at a CAGR of 6.51% during the forecast period. The major factors driving the healthcare adhesive tapes market are identified as the rising number of surgeries, increasing incidence of diabetes, and the growing number of ambulatory surgery centers. Also, research institutions and various manufacturers are taking initiatives and making huge investments in R&D for the technological development of healthcare adhesive tapes, and the improvement of their properties for use in various applications.

The major healthcare adhesive tapes vendors include 3M (US), Cardinal Health, Inc. (US), Nitto Denko Corporation (Japan), Johnson & Johnson Services, Inc (US), PAUL HARTMANN AG (Germany), Avery Dennison Corporation (US), NICHIBAN Co., Ltd. (Japan), Smith & Nephew (UK), Lohmann GmbH & Co.KG (Germany), Scapa Group Plc (US), Medline Industries Inc. (US), and Essity Aktiebolag (PUBL) (Sweden). These players have adopted various growth strategies, such as new product development, investment & expansion, and merger & acquisition, to expand their presence in the global healthcare adhesive tapes market. Merger & acquisition has been the most dominating strategy adopted by major players between 2015 and 2018, which help them broaden their customer base.

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In-line with the rising demand for healthcare adhesive tapes, 3M (US) has been working to deliver efficient healthcare adhesive tapes products to various applications in the healthcare industry. This company operates through business segments such as Industrial, Safety and Graphics, Electronics & Energy, Health Care, and Consumer. The company offers healthcare adhesive tapes products which are used in application such as wound care dressing, diagnostic, surgical drapes, diapers, and others. In November 2018, the company launched a high-adhesion Durapore medical adhesive tape, designed to provide safe, reliable critical tube securement in challenging conditions such as high-moisture environments. Similarly, in August 2017, 3M added 3M 4076 Extended Wear Medical Tape to its portfolio. The product is nonwoven, long-term wear and an acrylic-based adhesive solution designed to increase patient comfort and provide a strong and reliable bond in challenging applications.

The second most active company in healthcare adhesive tapes is Cardinal Health (US). The US-based firm operates as an integrated healthcare service and products company. It provides medical products and pharmaceuticals, and solutions that enhance supply chain efficiency for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company operates through two segments, Pharmaceutical and Medical. To enhance its market in the healthcare industry, in July 2017, the company acquired Medtronic’s Patient Care, Deep Vein Thrombosis, and Nutritional Insufficiency business for USD 6.1 billion. This acquisition provides more products which are used across a wide range of applications in the healthcare industry.

Related Reports:

Healthcare Adhesive Tapes Market by Resin (Acrylic, Rubber, Silicone), Backing Material (Paper, Fabric, Plastic), Application (Surgery, Hygiene, Wound Dressing, Secure Iv Lines, Ostomy Seal, Splint, Bandages, Diagnostic), and Region – Forecast to 2023

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.