Regional Players Dominate the Market Holding ~50% Revenue Share Despite the Presence of about ~250 Competitors Comprising a Significant Number of Global and Country-Niche players, finds a recent market study on the Global Medical Tapes Market.
Medical tapes facilitate dressings in cases of wounds, injuries, and surgeries. While there are varieties of medical tapes available in the market, including adhesive tapes, elastic tapes, silicone tapes, paper tapes, and silk cloth tapes, the selection of medical tapes depends on a range of skin-related factors, including its age and integrity, oiliness, or sensitivity to specific adhesives. Tapes that come in a single-use format, with paper or cloth as its base ingredient, help reduce cross-contamination, infection, and waste.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.
Global Players Constitute ~10% of the Total Number of Competitors, While Country Niche Players Dominate Representing ~55% of Total Competitors.
A comprehensive competitive analysis conducted during the Research Study found that the Global Medical Tapes Market is distributed among ~250 players, including globally diversified players, regional players, and country-niche players with expertise in offering tapes that suit the need of specific skin types or meet the demand for a specific region or application subcategory. Some global players, expected to retain their leadership in the market during the forecast period, include 3M, Johnson and Johnson, Paul Hartmann, Scapa Group Plc, Ad Tape & Label, Medtronic, Avery Dennison Corporation, Nichiban Co. Ltd., Nitto Denko Corporation, and Smith and Nephew.
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Innovation and Advanced Product Launches Drive the Major Players in Formulating their Key Strategy
Detailed comparative analysis of key competitors available within the Research Study shows that many companies such as Avery Dennison, 3M, and more, are focused on providing advanced solutions that can be used to cater to a range of patient needs. Many companies and organizations are investing in expanding their product lines through innovation to have a strong foothold in the market.
- In March 2022, Cardinal Healthcare, Inc., one of the leading American multinational healthcare companies, launched the first surgical incise drapes using industry-leading antiseptic Chlorhexidine Gluconate (CHG). To produce this product, Cardinal leveraged Avery Dennison’s patented BeneHold™ CHG adhesive technology. Avery Dennison is a leading player in the Global Medical Tapes Market and its patented adhesive technology helps reduce the risk of surgical site contamination.
- In April 2021, 3M launched a new product line of single-coated medical film tape with Hi-Tack silicone adhesive tape on the liner. With this new silicone adhesive, the company attempted to meet the need for medical devices that are meant for fragile-skinned people. The product was expected to minimize skin cell removal and allow seven days of wear time.
Increasing Government Regulations, and Investments propelling the growth of the Digital Signage Market
- In July 2021, the United States government published a document on the National Strategy for a Resilient Public Health Supply Chain. The strategy was intended to improve the agility of the supply chain by initiating stronger partnerships with the global community and rapidly scaling up production as and where possible.
- In March 2022, the Government of India, a significantly large market for Medical Disposables and Consumables, released its Draft National Medical Devices Policy 2022 for consultation. The medical devices sector in India comprises consumables and disposables, along with electronics equipment, implants, IVD reagents, and surgical instruments. The strategy aims at improving accessibility, affordability, safety, and quality in the medical devices sector, with a focus on self-sustainability, innovation, and growth.
For more information on the research report, refer to the below link:-
Global Medical Tapes Market Size, Segments, Outlook, and Revenue Forecast 2022-2028: Ken Research
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