Healthcare Adhesive Tapes Market - Forecast(2023 - 2028)

Healthcare Adhesive Tapes Market Overview

The healthcare adhesive tapes market size is forecast to reach US$11 billion by 2027 after growing at a CAGR of 5.9% during 2022-2027. Healthcare adhesive tapes are pressure sensitive tapes that ticks and remain in pace with form pressure. A wide variety of medical adhesive tapes ranging from micropore paper tape to waterproof tape are used for several healthcare applications such as to attach wound dressings or bandages to the skin around wounds, holding IV lines, adhere over incisions or amputations after surgery, and tubing. The surgery application is exhibiting robust growth as a high number of surgical procedures are being conducted globally and this is expected to contribute to the growth of the market during the forecast period. For instance, as per the data by OMICS International, the surgery market globally will reach a volume of approximately 2.2 billion procedures by 2023. Furthermore, the healthcare sector across the globe is expanding with increasing investment and this is expected to influence the market’s growth during the forecast period. As per the December 2021 data by European Commission, healthcare expenditure in Europe grew in 2019 with Germany (11.7%) witnessing the highest expenditure relative to GDP. The fluctuation in the prices of raw materials might hamper the market’s growth during the forecast period.

COVID-19 Impact 

The healthcare adhesive tapes market was negatively affected due to the COVID-19 pandemic. Disturbances in the form of supply chain scarcity and factory shutdown surfaced in the market. Market players had to adopt several measures to maintain a standard business operation amid the pandemic. Moreover, the low surgical activities amid the pandemic further hampered the market’s growth. As per the May 2020 report by surgeons.org, about 28.4 million elective surgeries got canceled or postponed globally in 2020 based on the disruption to hospital services due to the pandemic. The healthcare adhesive tapes market is projected to witness significant growth during the forecast period. 

Report Coverage 

The report: “Healthcare Adhesive Tapes Market Report - Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Healthcare Adhesive Tapes Industry.

By Resin: Acrylic, Rubber, Silicone, Others.
By Type: Micropore Paper Tape, Cloth Tapes, Plastic Tape, Waterproof Tape, Silk Tape, Transfer Tape, Others.
By Application: Wound Dressings, Surgery, Splint, Tubing, Wearable Devices, Diagnostic Devices, Ostomy, Medical Electrode, Grounding Pads, Hearing Aid Components, Protective Face Shields, Medical Device Assembly, Others.
By Geography: North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of Asia Pacific), South America (Brazil, Argentina, Colombia and Rest of South America), and RoW (Middle East and Africa). 

Key Takeaways: 

• Silicone resin dominated the healthcare adhesive tapes market in 2021. Silicone-based adhesive tapes come with high-temperature resistance, making them a robust choice in the market. 
• Surgery application is projected to drive the growth of the market during the forecast. For instance, as per the October 2021 data by trade.gov, the healthcare sector in Italy will receive an investment of USD 1.64 billion in 280 hospitals to advance digitalization that includes applications in surgery units. 
• The North American region is expected to witness the highest demand for healthcare adhesive tapes due to the increasing surgical activities in the region. For instance, as per the December 2021 report by Stanford University, surgery rates in the US rebounded rapidly in 2020 after the initial COVID-19 shutdown. 

Figure: North American Healthcare Adhesive Tapes Market Revenue, 2021-2027 (US$ Billion)

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Healthcare Adhesive Tapes Market Segment Analysis - By Resin 

Silicone resin dominated the healthcare adhesive tapes market in 2021. Silicone resin-based medical adhesive tapes come with several robust properties such as good resistance to bacterial growth, high heat resistance, waterproof, and repositionable, making them the go-to option in the market. Moreover, silicone adhesive tapes have lower peel adhesion compared to their counterparts such as acrylic and rubber-based adhesive tapes. Owing to such a diverse portfolio, market players are developing silicone-based adhesives tapes in the market. For instance, in December 2020, 3M Company launched its new advanced silicone adhesives, 3M Hi-Tack Silicone Adhesive Tapes to improve the lives of patients using wearable medical devices requiring longer wear times. Such development with silicone-based resin is expected to increase its demand during the forecast period. 

Healthcare Adhesive Tapes Market Segment Analysis - By Application 

The surgical application segment dominated the healthcare adhesive tapes market in 2021 and is growing at a CAGR of 6.4% during the forecast period. A wide variety of pressure sensitive tapes such as micropore paper tape to waterproof tape are used in several surgical procedures. These medical adhesive tapes are used to adhere over amputations or incisions after surgery to repel moisture and offer protection against infection. Moreover, similar adhesive tapes are utilized to attach wearable medical devices such as biofeedback devices or portable cardiac monitors which the doctor prescribes before or after surgeries to observe a patient’s vitals. The demand for surgical applications is increasing globally and this is expected to further drive the market’s growth during the forecast period. For instance, as per the December 2021 data by India Brand Equity Foundation, health-tech start-up Pristyn Care which specializes in secondary-care surgeries, increased USD 96 million in Series E funding. Similarly, as per the December 2021 journal by Lippincott Williams & Wilkins, approximately 3.6 million people in the US will be living with limb loss by 2050. Such growth in the surgical activities is expected to stimulate the demand for healthcare adhesive tapes in the market during the forecast period. 

Healthcare Adhesive Tapes Market Segment Analysis - By Geography 

The North American region held the largest market share in the healthcare adhesive tapes market in 2021, up to 32%. The high demand for healthcare adhesive tapes is attributed to the rising demand for surgical applications in the region. From micropore paper tape to waterproof tape, almost all types of healthcare adhesive tapes find their high use in the region’s surgical procedures. The demand for surgical applications is increasing in the region and this is projected to increase the demand for healthcare adhesive tapes in the forecast period. As per the December 2021 journal by Lippincott Williams & Wilkins, amputations will rise in the US in the coming years owing to increasing age and vascular disease. Similarly, as per the August 2020 report by hbr.org, the surgery backlog is growing in the US. Such growing activities in the surgical application is expected to increase the demand for healthcare adhesive tapes during the forecast period. 

Healthcare Adhesive Tapes Market Drivers 

 Expanding healthcare sector will drive the growth of the market 

Healthcare adhesive tapes ranging from micropore paper tape to waterproof tape are used in several medical applications such as wound dressings, surgery procedures, tubing, attaching wearable devices, and medical device assembly. The healthcare sector is expanding globally with increasing investment and R&D activities and this, in turn, is expected to drive the growth of the market. For instance, as per the October 2021 data by America's Debt Help Organization, total healthcare spending in America went past USD 4 trillion in 2020 out of which about USD 1.24 trillion accounted for expenditure on hospital services. Similarly, as per the data by European Commission, in 2019, healthcare expenditure was highest among the European Union Member States in Luxembourg (USD 6243.14 per inhabitant), Denmark (USD 6076.71 per inhabitant), and Sweden (USD 5721.52 per inhabitant). Such massive expansion in the healthcare sector globally is expected to bolster the use of healthcare adhesive tapes, thereby driving the growth of the market during the forecast period. 

Increasing surgery application will drive the market’s growth 

Surgery application has been an important factor in driving the demand for healthcare adhesive tapes in the last few years. A wide range of medical adhesive tapes finds their broad uses in surgical procedures such as attaching wearable devices prescribed by doctors before or after the surgery and adhering over incisions or amputations after surgery. The need for surgical application is increasing globally and this, in turn, is expected to drive the growth of the market. For instance, as per the 2021 Ambulatory Surgery Center Market report by Health Industry Distributors Association (HIDA), the ambulatory surgery market stood at USD 30-40 billion, and the shift in cardiac and musculoskeletal care to ambulatory settings is projected to expand the growth. Similarly, as per the data by the Australian Institute of Health and Welfare (AIHW), people admitted for requiring surgery within 30 days increased by 8.4% in 2020-21 compared to 2019-20. Such an increase in surgical application is expected to stimulate the higher use of healthcare adhesive tapes, driving the growth of the market during the forecast period. 

Healthcare Adhesive Tapes Market Challenges 

Fluctuation in the prices of raw materials might hamper the market’s growth 

The market involves raw materials such as polyethylene and polyurethane which are petroleum derived materials. The prices of these raw materials are fluctuating due to the fluctuation in the price of petroleum and this might hamper the market’s growth. As per the stats by ourworldindata.org, in 2017, the crude oil price was recorded at USD 54.19 per barrel which increased to USD 64.21 per barrel in 2019. The oil price again lowered to USD 41.84 per barrel in 2020. Such fluctuations in oil prices created volatility in petroleum prices, thereby fluctuating the price of the raw materials. This fluctuation in the raw materials might affect the market’s growth during the forecast period. 

Healthcare Adhesive Tapes Industry Outlook 

Investment in R&D activities, acquisitions, product and technology launches are key strategies adopted by players in the healthcare adhesive tapes market. Global Healthcare Adhesive Tapes top 10 companies include: 

1. Nitto Denko Corporation
2. 3M Company
3. Medtronic PLC
4. Medline Industries
5. Avery Dennison Corporation
6. Scapa Group PLC
7. Paul Hartmann AG
8. Nichiban
9. Johnson & Johnson
10. Smith & Nephew plc
11. Others 

Recent Developments 

• In October 2020, Johnson & Johnson announced the acquisition of Momenta Pharmaceuticals, Inc. Through this acquisition, Johnson & Johnson aims expanded patient care in autoantibody-driven diseases. 
• In November 2020, Medtronic Plc announced the acquisition of Medicrea International. Through this acquisition, Medtronic strengthened its spinal surgery portfolio. 
• In June 2019, Nitto Denko Corporation launched transdermal patches Bisono Tape 2mg that contains a ?1 blocker. This new development allowed by the company allowed finer dose adjustment in atrial fibrillation treatment.

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