In terms of revenue, the Global Breathable Tape Market is expected to reach USD 6.4 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 3.90% from 2022 to 2028.
Key Highlights from Report:
- The Silicone Tapes sub-segment is projected to grow at a considerable Compound Annual Growth Rate (CAGR) over the forecast period. This is attributable to its increasing utilization and safety among children and older patients.
- The hospital segment held substantial shares of the market in 2021. This is due to the increased volume of patients as a result of global accidents, as well as the increased financing and service capabilities of these healthcare settings.
- Asia Pacific is expected to grow at the fastest Compound Annual Growth Rate (CAGR) during the forecast period. This is attributable to the growing clinical awareness and increased demand for medical tape for injuries associated with the skin. The major growth drivers in this region are the large population coupled with rising patient awareness levels regarding diseases and wound infections and increased per capita income.
The increasing percentage of accidents is expected to fuel the growth of the Breathable Tape market within the estimated timeframe. This is owing to increased alcohol consumption and reduced use of products such as motorcycle helmets and child restraints. Breathable tapes aid in wound healing and are simple to remove in an accidental wound. As a result, an increase in accidents is expected to drive demand for breathable tapes in the coming years. Furthermore, creating awareness regarding the utilization of medical videos for securement among physicians and patients and the increasing incidence of scratches, burns, and injuries is anticipated to enhance the market's revenue growth in the years to come. Consumers' growing propensity towards healthcare-acquired infection has prompted the demand for breathable tape in current times. The increasing demand for covering injuries and wounds and the utilization of breathable tape in surgery create a substantial opportunity for the market's growth. The rising awareness regarding medical injuries is also expected to propel the market's growth during the forecast period.
North America held the most significant shares in 2021. The US had the largest market share in North America for the Breathable Tape. This is attributable to the rising patient awareness regarding diseases and wound infections and the swiftly increasing geriatric population in the region. Therefore, the focus of key market players is on advanced wound dressings compared to the traditional ones in this region.