April 3, 2018 04:37 ET | Source: Profshare Market Research Profshare Market Research
New York, New York, United States
New York, April 3, 2018 (GLOBE NEWSWIRE) - The global elastic bandage market was valued at US$3.4 billion in 2017 and is expected to reach US$5.8 billion by 2026, with a compound annual growth rate of 6.2% from 2018 to 2026. An elastic bandage is a stretchable bandage used to generate localized pressure. Modern elastic bandages are made of cotton, polyester, and latex-free elastic yarn. Elastic bandages are made by changing the ratio of cotton, polyester and elastic yarn in the bandage. These cotton and elastic wraps help support injured body parts such as arms, wrists, elbows, ankles, knees and legs.
There are various elastic bandages on the market, such as woven elastic bandages, latex-free (non-sterile) woven elastic bandages, latex-free (sterile), non-sterile/latex-free, self-closing elastic bandages (non-sterile/non-sterile) Contains latex). These elastic bandages are absorbent, breathable and durable, and can be reused. Bandages are used as a multi-layer system in which a compression-generating layer is combined with a filler. The properties and characteristics of the pressure generating layer (elastic bandage layer) are the most important, it determines the interface pressure level.
Bandages can be of "general" and "color" categories. Thanks to the use of high-quality natural fibers, the colored compression elastic bandage is non-allergenic and eliminates the risk of itching. Its soft and firm texture promotes blood circulation, so it can be easily applied to all areas when it needs to be used for a long time. Colored elastic bandages can be used to treat varicose veins, orthopedic use, sports injuries, soft tissue traction and surgery. It has 150% elasticity and is equipped with two clips to fix the bandage.
Elastic bandages are used for upper and lower limbs. For lower limbs, bandages are used to treat fractures, hairline fractures, joint dislocations, varicose veins, orthopedic surgery, ankle sprains, thigh cramps, muscle strains, deep cuts and accidental amputations. Elastic bandages for lower limbs are widely used by athletes, and they sell well in sports seasons such as competitions, Olympics, and National Games. For the upper extremities, bandages are used to treat joint dislocations, hairline fractures, swelling, acute injuries and provide support for injured soft tissues. They are used in scenes such as shoulder spice, elbow figure eight, wrist figure eight and compression dressings.
The general bandage is composed of polyester, cotton and latex. Since it is mainly grade one, 100% cotton, it does not cause allergies and does not cause any itching. It can be used in all areas that require intermediate support; such as muscle pain and bruises. It has 125% elasticity and is equipped with two (2) metal or rubber clips-upon request-to secure the bandage. Color bandages are more popular in use because they look attractive, rather than ordinary bandages, and are widely used by athletes due to their high-quality fibers. In terms of price, the cost of colored bandages is about 0.35 US dollars, while the price of ordinary bandages is cheaper, at 0.04 US dollars. General export markets for bandages include Eastern Europe, Southeast Asia, the Middle East, North America and East Asia. Those colored bandages include North America, Africa, Southeast Asia, and the Middle East.
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The elastic bandage market is subdivided into specialty retailers, factory clothing, and Internet sales based on application. The growing e-commerce market is helping Internet sales grow rapidly. The growing tourism industry has provided a major impetus to the global bandage market, as more and more people shift their preferences to bandages that are light-weight and compact to carry. It is expected that by the end of the forecast period from 2018 to 2022, the market will continue to grow at a high compound annual growth rate and reach a value of millions of dollars. By end user, the market segment includes hospitals, clinics, home care institutions, and outpatient surgery centers. Among them, hospitals are expected to dominate the global medical tape and bandage market. By the end of 2017, it is estimated that hospitals will account for more than half of the revenue share.
According to the application, surgical wound treatment is expected to become the largest market segment in terms of application. Geographically, the global medical tape and bandage market is divided into Europe, North America, Asia Pacific (except Japan) (APEJ), Latin America, Japan, and the Middle East and Africa (MEA). Among them, North America is expected to dominate the global medical tape and bandage market. The prevalence of chronic wounds, orthopedic injuries and increased surgeries have led to the increasing use of bandages and medical tape in the region. At the same time, APEJ and Europe are also expected to achieve growth during the 2017-2026 forecast period.
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Elastic Bandage Market: Competitive Analysis
The report includes accurate analysis of key players' market value, company profile, and SWOT analysis. The study consists of the following major players in the elastic bandage market: • 3M
• Zhejiang Dongyang Dongsheng Medical Dressing
• Anji Super Bandage Weaving Factory
• Hubei Yuegu Medical Products
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