by Plastic bandages are an indispensable part of first aid kits and have been used to protect minor cuts, burns and abrasions. The most commonly used plastic bandages are made from non-woven fabrics or plastic materials coated with an adhesive and are used as a protective covering for minor wounds, burns and skin abrasions. Plastic bandages protect wounds from germs, water and dirt while supporting healing. They are available in various sizes and are easy to use at home. Plastic bandages have also found widespread applications in the sports industry to protect athletes from cuts, scrapes and blisters sustained during practice or tournaments.
The global plastic bandages market is estimated to be valued at US$ 9.67 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
“Plastic Bandages Market Poised to Expand Substantially due to Increasing Demand from Sports Industry”
The increasing participation in sports and outdoor recreational activities has boosted the demand for plastic bandages from the sports industry, which forms one of the key drivers for the growth of the global plastic bandages market over the forecast period. According to statistics, over 41 million Americans participate in soccer every year making it one of the most popular sports in the country. The growing popularity of sports has translated to higher demand for plastic bandages to protect athletes from minor cuts, blisters and abrasions sustained during practice sessions or matches. Another factor fueling the plastic bandages market is increasing awareness among consumers about the effectiveness of plastic bandages in protecting minor wounds compared to traditional cloth bandages or gauze.
Segment Analysis
The global plastic bandages market is segmented based on product type, application, distribution channel and end use. Based on product type, the adhesive bandages segment accounted for the largest market share in 2021 and is projected to dominate the market during the forecast period. Adhesive bandages offer benefits such easy handling and removal without causing pain to patients, which has increased their demand. Based on application, cuts and lacerations is the largest segment in 2021. This is attributed to high incidences of cuts and wounds during routine work or sports activities.
PEST Analysis
Political: Government policies supporting healthcare infrastructure development across major countries is positively impacting the market. However, stringent regulations for product approval may restrain growth to an extent.
Economic: Rising disposable incomes and growing medical tourism are driving market expansion. However, high costs associated with advanced plastic bandages limits their adoption in price-sensitive markets.
Social: Increasing participation in sports and adventure activities is leading to greater risk of injuries, propelling demand. Awareness about benefits of plastic bandages over traditional cloth bandages is also promoting their usage.
Technological: Manufacturers are focusing on development of breathable bandages, bandages with antibiotic properties, and bandages that can withstand moisture. Adoption of advanced materials makes products more effective.
Key Takeaways
Global Plastic Bandages Market Size is expected to witness high growth at a CAGR of 6.1% during the forecast period of 2023 to 2030.
Regional analysis shows that North America accounted for the largest market share in 2024 backed by advance healthcare infrastructure and increasing healthcare spending. However, Asia Pacific is expected to emerge as the fastest growing region owing to large population base, rising medical tourism and improving access to healthcare.
Key players operating in the plastic bandages market are Johnson & Johnson, BSN Medical, 3M, Acelity L.P. Inc., Medline Industries Inc., ConvaTec Inc., Lohmann & Rauscher GmbH & Co. KG, Nitto Denko Corporation, and B. Braun Melsungen AG. These players are focusing on new product launches catering to customized needs of patients and healthcare facilities. For instance, B. Braun Melsungen AG offers bandages that can be easily removed without causing pain to patients.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
