Emphasis on Product Type (Medicated Bandages and Non-Medicated Bandages); Application (Wound Management, Orthopedic Support, Pain Management, Sports & Athletic Wraps, and Others); Distribution Channel (Retail Pharmacies, Online Pharmacies, Hospital Pharmacies, and Others); Region (North America, Europe, Asia-Pacific, Rest of the World); and Region/Country
The global adhesive bandages market is expected to grow at a significant rate of around 5% during the forecast period. The bandage is a strip of material that is used at the place of injuries to cover the affected part to protect it from infection, friction, and other possible injuries. The rising incidences of orthopedic diseases among the geriatric population are one of the major factors that are affecting the market dynamics of the bandage. Furthermore, the rising number of road accidents also has a considerable share in the market growth of the adhesive bandage market. For example, as per the WHO, every year the lives of approximately 1.3 million people are cut short because of a road traffic crash. Between 20 and 50 million more people suffer non-fatal injuries, with many incurring a disability because of their injury.
3M, Beiersdorf AG, Cardinal Health Inc., ConvaTec Inc., Dynarex Corporation, Essity Aktiebolag, Johnson & Johnson Inc., Medline Industries LP, Goldwin Medicare Ltd., and Smith & Nephew plc. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst product type, Medicated bandages category to witness higher CAGR during the forecast period”
Based on product type, the market is segmented into utility medicated bandages and non-medicated bandages. Medicated bandages category to witness higher CAGR during the forecast period owing to the growing use of bandages in hospitals, especially in the emergency departments. As per the CDC, in 2019, approximately 22% of adults aged 18 and over had visited the emergency in the past 12 months. Furthermore, the rising efficacy of the medicated bandages and the product launches under the medicated bandages category is responsible for the segment’ in the adhesive bandages market.
“Amongst application, the orthopedic support to hold a significant share in the market in 2021”
On the basis of application, the market is categorized into wound management, orthopedic support, pain management, sports & athletic wraps, and others. Among these, orthopedic support to hold a significant share in the market in 2020. This is mainly due to the rising incidences of orthopedic disease and the surging use of bandages in their treatment of them. For instance, as per the WHO, approximately 1.71 billion people have musculoskeletal conditions worldwide.
“Amongst distribution channel, online pharmacies segment holds the major share”
Based on distribution channels, the adhesive bandages market is divided into retail pharmacies, hospital pharmacies, and online pharmacies. Online pharmacies grabbed a significant market share in 2020 and are anticipated to grow at a rapid rate in the upcoming years. This is due to the rising prevalence of mobile applications and their uses along with an increasing number of startups. For instance, Netmeds was founded in 2015 and reached US$ 1.8 million by 2019. Furthermore, the heavy discounts offered by the online pharmacies attract customers resulting in an increase in the market size of the segment during the forecast period.
“North America to hold a significant share in the market”
In 2020, North America held a significant share of the global adhesive bandages market. This is mainly attributed to the increasing recreational activities and the rising number of off-roading events along with the surging injuries associated with it driving the region’s adhesive bandages market. In addition, the presence of the major market players and frequent product launches is attributed to the growth of the bandages market in North America. For instance, in June 2020, the Band-Aid sub-brand of Johnson & Johnson launched a range of bandages in light and dark shades of black and brown bandages.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Adhesive Bandages Market
6. Adhesive Bandages Market Revenue (usd Bn), 2020-2028f
7. Market Insights By Product Type
8. Market Insights By Application
9. Market Insights By Distribution Channel
10. Market Insights By Region
11. Adhesive Bandages Market Dynamics
12. Adhesive Bandages Market Opportunities
13. Adhesive Bandages Market Trends
14. Demand And Supply-side Analysis
15. Value Chain Analysis
16. Competitive Scenario
17. Company Profiled
18. Disclaimer
Research Methodology for the Adhesive Bandages Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global adhesive bandages market were the three major steps undertaken to create and analyze the adoption of adhesive bandages in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Adhesive bandages market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the adhesive bandages market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the adhesive bandages market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as product type, application, and distribution channel. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Adhesive bandages market. Further, we conducted factor analysis using dependent and independent variables such as various product types, applications, and distribution channels of adhesive bandages. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the adhesive bandages market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global adhesive bandages market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global adhesive bandages market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product type, application, and distribution channel in the global adhesive bandages market.
The main objective of the Global Adhesive Bandages Market Study
The current & future market trends of the global adhesive bandages market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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