Coherent Market Insights released on March 15, 2021

Seattle, March 15, 2021 (MEDGADGET) — A piece of woven material used to wrap wounds and protect injured parts of the body is called a bandage. It is mainly used to limit the movement of specific parts of the body to help reduce pain or swelling. There are several types of bandages, such as general-purpose cloth strips and specially shaped bandages developed for specific limbs or body parts.

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It is expected that more and more surgical operations and medical accidents will promote the growth of the global bandage market. For example, according to the Journal of Diabetes Research, in 2018, the global prevalence of diabetes, which causes a lifetime risk of foot ulcers, was 25%. This situation is expected to result in a high demand for advanced wound care products or bandages that provide relief after treating fresh or moist wounds.

Major players in the market focus on product development to expand their product portfolio. For example, in 2017, Johnson & Johnson developed a new BAND-AID brand bandage, Skin-Flex. Even if the bandage is exposed to water during hand washing, the bandage will dry immediately and remain for 24 hours. The major players in the market are also focusing on the approval and launch of new products, which is expected to drive the growth of the global bandage market. For example, in February 2019, Axiostat, a wound care product developed by Axio Biosolutions in India, was approved by the U.S. Food and Drug Administration. Bandages are designed to prevent uncontrolled bleeding from the wound.

In addition, more and more burn cases and the growing elderly population are also expected to promote the growth of the bandage market. For example, according to the American Burns Association (ABA), in 2016, 486,000 burn patients in the United States received treatment. In addition, the expected increase in the number of surgical and trauma cases will also promote the growth of the bandage market during the forecast period.

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However, the growing preference for alternatives such as advanced wound care products is expected to hinder the growth of the global bandage market. Advanced wound care products can effectively reduce the time required for wound healing.

According to the region, the global bandage market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East and Africa. Due to the increase in the incidence of chronic wounds, favorable reimbursement policies, and an increase in the elderly population, North America will dominate the market in 2018. In addition, North America is expected to dominate the global bandage market during the forecast period. This is due to the increase in the number of orthopedic surgeries performed in the U.S.

Major manufacturers are increasingly focusing on adopting business strategies such as partnerships and product development, which are expected to contribute to market growth. For example, in December 2017, Navamedic ASA announced that it had reached an agreement with Chemviron Carbon Ltd. to launch and commercialize Zorflex, a 100% activated carbon wound contact dressing that helps accelerate the treatment of chronic and non-chronic diseases. Chronic wounds.

The market in the Asia-Pacific region is expected to experience the fastest growth during the forecast period. This is due to the presence of major players and healthcare organizations in the region, as well as the increase in the elderly and diabetes-susceptible populations.

Major players operating in the global bandage market include 3M, Medtronic, Derma Sciences Inc., Johnson and Johnson Consumer Inc., Medline Industries Inc., B. Braun Melsungen AG, Smith & Nephew, Avcor Healthcare Products, Lohmann & Rauscher, and Dermarite Industrial limited liability company.

According to the product type, the global bandage market is segmented into:

According to the application, the global bandage market is segmented into:

According to end users, the global bandage market is segmented into:

According to the region, the global bandage market is segmented into:

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