The medical adhesive tapes market is expected to grow from an estimated USD 6.64 billion in 2017 to USD 8.76 billion by 2022, at a CAGR of 5.69% from 2017 to 2022. The medical adhesive tapes market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of both, value and volume. The high growth of the Asia Pacific medical adhesive tapes market can be attributed to the increased demand for medical adhesive tapes from emerging economies, such as India, China, Taiwan, South Korea, Vietnam, and Singapore, among others.
The medical adhesive tapes market in China is growing rapidly and this trend is expected to continue till 2022, in terms of production and supplier activities, owing to low labor costs in the country. In addition, the demand for medical adhesive tapes in various applications is increasing rapidly, including surgeries, wound dressings, splints, secure IV lines, and ostomy seals, among others. These factors are expected to contribute towards the growth of the Asia Pacific medical adhesive tapes market during the forecast period, 2017 to 2022.
China is leading the Asia Pacific medical adhesive tapes market. The growth of the China medical adhesive tapes market is due to its large population, availability of cheap labor, easy accessibility to raw material, lower taxes, and less stringent environmental regulations for the manufacture of medical adhesive tapes.
Among resin types, the silicone segment of the medical adhesive tapes market is expected to grow at the highest CAGR during the forecast period. Silicone adhesive tapes are gentler than traditional acrylate adhesives, as per clinical research. The performance of silicone adhesive tapes is excellent on low surface energy substrates. Major players are planning to increase the production capacity of silicone medical adhesive tapes considering future demand, as these are widely used for fragile skin such as infants and elderly patients with co-morbidities which cause the skin to become more fragile.
Among backing materials, the paper segment of the medical adhesive tapes market is expected to grow at the highest CAGR during the forecast period. The growth of paper is attributed due to the low cost of the backing material. These tapes provide excellent comfort as compared to fabric medical tapes; as a result, these find significant applications for elderly patients, and are also preferred in cases involving frequent wound redressing.
Among applications, the secure IV lines segment of the medical adhesive tapes market is expected to grow at the highest rate from 2017 to 2022. These are useful due to factors such as increased security, decreased risk of infection, and improved site visibility.
Among regions, the Asia Pacific is expected to be the fastest-growing medical adhesive tapes market. This high growth is mainly attributed to high-growth economies such as China, India, Taiwan, and other smaller countries, including Indonesia, Vietnam, and Malaysia. China is the leading market in terms of the demand for medical adhesive tapes in the Asia Pacific.
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