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Kenneth Research recently added a report on 'Medical Tapes and Bandages Market' in its database of market research reports which provides its readers an in-depth analysis on the latest trends, growth opportunities and growth drivers that are associated with the growth of the market. The report additionally shares critical insights on the COVID-19 impacts on the Medical Tapes and Bandages Market, along with the compound growth rate (CAGR) of the market for a projected period between 2022 and 2031. The report also includes analysis of the market by utilizing different analytical tools, such as PESTEL analysis and Porter's five forces analysis. These tools also provide an in-depth analysis on the micro and macro-environmental factors that are associated with the growth of the market during the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical Tapes and Bandages Market products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
According to Analytics research report, global Medical Tapes and Bandages Market is projected to display a robust growth represented by a CAGR of 3.81% during 2019 – 2024.
Over the past few years, an array of economic, demographic, technological as well as environmental factors have been igniting a revolution in the healthcare industry. Increasing investments in research and development projects associated with wound care by key players including 3M Health Care, Avcor Healthcare Products, Inc., Cardinal Health, Inc., Medline Industries, Inc., Johnson and Johnson, Dukal Corporation, Derma Sciences, Inc., Andover Healthcare, Inc., among others, have been pushing the market in the right direction. And as a result of continuous technological advancements, a wide variety of medical tapes and bandages are available in the market. Furthermore, growing incidence of chronic ailments, surging share of geriatric population in concurrence with rising healthcare expenditure have also been instrumental in driving the global demand for medical tapes and bandages. In this research report, the market is segmented on the basis of product type, End User as well as end user area. On the basis of product type, the segment of medical bandages has been dominating the global market, and is also anticipated to witness growth at a sustainable rate.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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Amongst the regions, North America accounted for the largest regional share in the global medical tapes and bandages market in 2018. However, in the forecast period, the Asia Pacific region is anticipated to advance at the highest pace. Some of the key factors driving the robust growth rate of Asia Pacific region include presence of vast consumer base, significant improvements in medical infrastructure and rapid economic development.
The report titled“Global Medical Tapes and Bandages Market: Analysis By Product Type (Medical Bandages, Medical Tapes), By Application (Surgery, Trauma & Laceration, Ulcer, Sports Injury, Burn Injury and Others), By End User (Hospitals, Clinics, Ambulatory Surgery Centers, Others), By Region, By Country (2019 Edition): Opportunities and Forecast (2014-2024)- By Region (North America, Europe, Asia Pacific and Rest of the World), By Country (U.S, Canada, Germany, United Kingdom, China, India)” has covered and analyzed the potential of global medical tapes and bandages market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global medical tapes and bandages market. Additionally, the report also highlights market entry strategies for various companies across the globe.
Scope of the Report
Global Medical Tapes and Bandages Market
(Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Global Medical Tapes and Bandages Market – Size, Growth, Forecast
- By Product Type – Medical Bandages, Medical Tapes
- By Application – Surgery, Trauma & Laceration, Ulcer, Burn Injury, Sports Injury, Others
- By End User – Hospitals, Clinics, Ambulatory Surgery Centers, Others)
Regional Markets – North America, Europe, APAC, Rest of the World
(Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Regional Medical Tapes and Bandages Market – Size, Growth, Forecast
- By Product Type (Medical Bandages and Medical Tapes)
- By Application (Surgery, Trauma & Laceration, Ulcer, Burn Injury, Sports Injury, Others
- By End User – Hospitals, Clinics, Ambulatory Surgery Centers, Others
Country Analysis – U.S, Canada, Germany, United Kingdom, China, India (Actual Period: 2014-2018, Forecast Period: 2019-2024)
- Medical Tapes and Bandages Market – Size, Growth, Forecast
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Other Report Highlights:
- Market Dynamics – Drivers and Restraints
- Market Trends
- SWOT Analysis
- Porter Five Force Analysis
- Policy and Regulatory Landscape
- Company Analysis – Avcor Healthcare Products, Inc., Cardinal Health, Inc., Derma Sciences, Inc., Medline Industries, Inc., Dukal Corportaion, Johnson and Johnson ConsumerInc., Andover Healthcare, Inc., Dynarex Corporation and Kerma Medical Products, Inc.
About Us
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research, are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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