July 16, 2024
Plastic Bandages Market

The Global Plastic Bandages Market Is Estimated To Propelled By Growing Adoption Across Diverse Applications

Plastic bandages are sterile adhesive bandages, which are predominantly used for minor cuts, burns, abrasions and other wounds. They protect wounds from external contamination and promote healing. Plastic bandages offer several advantages over traditional cloth and gauze bandages, which include flexibility for use on any body part, being waterproof and preventing wound infections. The global need for effective wound care solutions has been a primary driver for the plastic bandages market.

The global Plastic Bandages Market is estimated to be valued at US$ 9.67 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Growing adoption of plastic bandages across diverse applications beyond basic wound care has been a key trend propelling the plastic bandages market. Plastic bandages are increasingly being used in healthcare settings for securing medical devices such as IV lines and in ambulatory care for securement of electrocardiogram electrodes and pulse oximetry sensors. Their versatility and gentleness on skin has also led to their adoption for crafting, sports, camping and other activities. This wide scope of use beyond their core wound treatment application has significantly expanded the market scope for plastic bandages over the recent years.

SWOT Analysis

Strength: Plastic bandages are cost-effective, lightweight and waterproof. They provide an effective protective barrier against external contaminants.

Weakness: Plastic bandages lack breathability and may cause skin irritation due to lack of evaporation. They also do not conform well to joints and curved body surfaces.

Opportunity: Rising incidence of chronic wounds and injuries globally offers significant growth opportunities. Increasing demand for advanced wound care products also presents an opportunity.

Threats: Presence of alternative wound care products poses competition. Strict regulations pertaining to product quality and performance are another threat.

Key Takeaways

Global Plastic Bandages Market Size is expected to witness high growth. The global Plastic Bandages Market is estimated to be valued at US$ 9.67 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.

Regional analysis related content comprises growth in the Asia Pacific region is expected to be fastest growing during the forecast period. Factors such as rising geriatric population, increasing incidence of chronic wounds and injuries are driving demand.

Key players related content comprises 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. Players adopt strategies such as product launch, acquisition and collaboration to increase market share and expand presence globally.

 

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it