Asia Pacific Driving Medical Adhesives Tapes Market Growth
China is expected to lead the demand for medical adhesive tapes due to increased industrial production.
The global medical adhesive tapes market is estimated at $6.64 billion in 2017, and is projected to reach $8.76 billion by 2022, at a compound annual growth rate (CAGR) of 5.69% from 2017 to 2022, according to “Medical Adhesive Tapes Market by Type (Acrylic, Silicone, Rubber), Backing Material (Paper, Fabric, Plastic), Application (Surgeries, Wound Dressings, Secure IV Lines, Splints, Ostomy Seals) - Global Forecast to 2022,” a recent report from Research and Markets.
The demand for medical adhesive tapes has been increasing rapidly in applications such as surgeries, wound dressings, secure IV lines, splints, and ostomy seals, among others. The rising number of surgeries and high demand for medical products in the Asia Pacific are considered the key factors contributing to the growth of the medical adhesive tapes market according to the report.
The silicone medical adhesive tapes segment is expected to grow at a higher CAGR during the forecast period. Over the past few years, the demand for silicone medical adhesive tapes has increased in the stick-to-skin market in the medical sector.
The secure IV lines segment of the medical adhesives tapes market is expected to grow at the highest CAGR during the forecast period. Recent advancements in medical technology are propelling the growth of the medical adhesive tapes market and creating opportunities for manufacturers for the development of new products for emerging applications.
The Asia Pacific medical adhesive tapes market is expected to grow at the highest CAGR during the forecast period, due to the rising demand for medical adhesive tapes from economies of the Asia Pacific region, including India, China, South Korea, Vietnam, Taiwan, and Singapore, among others. China is expected to lead the demand for medical adhesive tapes due to increased industrial production. It is also reportedly among the largest consumers of medical adhesive tapes at the global level.
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