QYResearch: The global Medical Tape market is expected to reach USD 14467.72 million by the end of 2023

Medical tape, also known as surgical tape, is a type of adhesive tape used in medicine and first aid to secure bandages or transparent dressings onto a wound. Medical tape is designed to firmly fasten onto skin, wound dressings, and latent layers of tape, too, but without damaging skin during removal.

First, for industry structure analysis, the medical tapes industry is fragmented. A variety of manufacturers ranging from large multinational corporations to small privately owned companies compete in this industry. The top six producers account for less than 40% of the market. Regionally, USA is the biggest production country of medical tapes, also the whole industry. Europe and China also produce large amount of medical tapes per year.

Second, for production, the global production of medical tapes has reached 6568 M Sq.m by the end of year 2016, with CAGR around 4.49 % during the past years. The capacity expansions in developed areas are much modest, while production developing areas like China are a little higher.

Third, for the market, the global medical tapes market is worth over $12.22 Billion, according to our survey. Medical Tapes are mostly used in treatment care. The downstream users are normally patients. However, Medical tapes can be used to produce dressing of wound with extra function.

Fourth, for price trend analysis, a key variable in the performance of medical tapes producers is raw material costs, specifically the speed at which any increase can be passed through to customers. The price of the major raw material nonwoven and plastics varies according to the crude oil price. Also, competition landscape of product is relevant to the price trend. This year, as the downturn of global crude oil industry and increasing fierce competition, the medical tapes price would keep decreasing for at least the following 3 years.

Fifth, for trade analysis, the import and export business of medical tapes is frequent, with China, USA and EU the leading exporter. The import business in Korea and underdeveloped countries are frequent, and local demand cannot be met with the production.

Sixth, for forecast, the global medical tapes industry would keep increasing with annual growth rate with 5~6%, and a little higher speed in China, as the rigid demand of health care products. We tend to believe this industry now is close to mature, and the demand increasing degree will show a smooth curve. On product prices, the slow downward trend in recent years will maintain in the future, as competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

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