North American medical tapes & bandages market is estimated to grow at a CAGR of over 4% during the forecast period. Major economies that contribute to the market include the US and Canada. The growing incidence of pressure ulcers (PU) owing to aging populations, increased per capita healthcare expenditure and the presence of major market players are driving the market in this region. According to the World Economic Forum in 2018, North America is one of the strong economies that comprise around 28% of the world economy which is one of the factors affecting the healthcare market. As per OECD, the US spends almost 17.2% of GDP on healthcare expenditure, whereas Canada spends 10.6% of GDP on healthcare.
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Canada is estimated to contribute a moderate share in the medical tapes & bandages market. Factors that are driving the market growth include the increasing healthcare expenditure and the significant prevalence of osteoporosis in the country. Osteoporosis refers to a bone disease that results in weakening of bones or even breaking from a fall, ultimately leading to the fracture of bones. Fractured body parts or bones generally requires the use of medical tapes & bandages for dressing purposes. The prevalence rate of osteoporosis has been significant in the country in recent years. International Osteoporosis Federation estimates that Osteoporosis affects around 1.4 million Canadians in 2017. Osteoporosis affects around 1 in 4 women and more than 1 in 8 men over the age of 50 years. This increasing prevalence of osteoporosis in the country is significantly driving the demand for medical tapes & bandages for dressing purposes of fractures.
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North American Medical Tapes & Bandages Market -Market Segmentation
By Product
• Medical Bandage
• Gauge Bandage
• Adhesive Bandage
• Cohesive and Elastic Bandage
• Other Medical Bandage
• Medical Tapes
• Fabric Tapes
• Paper Tapes
• Plastic Tapes
• Other Tapes
By Application
• Surgical Wound Treatment
• Traumatic Wound Treatment
• Ulcer Treatment
• Sports Injury Treatment
• Burn Injury Treatment
• Others
Regional Analysis
• United States
• Canada
Company Profiles
• 3M Co.
• AMD Medicom Inc.
• ASO, LLC
• Aspen Surgical Products, Inc.
• Avcor Healthcare Products Inc.
• Cardinal Health, Inc.
• Derma Sciences, Inc.
• Hartmann USA, Inc.
• Hollister, Inc.
• Johnson & Johnson, Inc.
• Medline Industries, Inc.
• Organogenesis, Inc
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