Rising instances of patients opting for therapeutic surgeries and increasing instances of chronic and acute diseases are crucial factors influencing the growth of global medical tapes and bandages market. Growing number of global population diagnosed with diabetes is also another pivotal factor that is anticipated to drive the global demand in medical tapes and bandages market. Diabetic patients are prone to traumatic wounds and a chronic neuropathic condition known as ‘diabetic foot’. These factors increase the need for affordable and safe bandages and medical tapes. This is also another factor boosting the demand in global medical tapes and bandages market.
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Increasing number of surgical centers and technological advancement in biomedical and healthcare industries are expected to result in increased demand in global medical tapes and bandages market in coming years. Rising occurrence of careful injuries that require consistent dressing is also another factor that can positively affect the growth trajectory of medical tapes and bandages market in near future.
North America Anticipated to Dominate Medical Tapes and Bandages Market
Rising instances of road accidents, well established and technologically superior healthcare infrastructure in the region, and presence of multiple key vendors are key factors driving the demand in North America medical tapes and bandages market. Increasing popularity of medical tourism and increasing regional presence and involvement of key vendors are key trends expected to further the growth of Asia Pacific medical tapes and bandages market in coming years.
Players in global medical tapes and bandages market are focused on developing technologically advanced production processes that result in superior products. Some of the key players are also focusing on mergers and acquisitions to expand their market reach and client pool. For example, Osiris Therapeutics, Inc. was acquired by Smith and Nephew PLC in April of 2019 to improve the quality of their product portfolio in medical tapes and bandages market. Some of the major players in global medical tapes and bandages market are Smith & Nephew PLC., Molnlycke Health Care AB, Ethicon Inc., Beiersdorf AG, Dynarex Corporation, B. Braun Melsungen AG, Cardinal Health, 3M, and Winner Medical Group Inc.
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