The adhesive bandage market is projected to grow at a CAGR of 5.54% to reach US$2,977.860 million by 2025, from US$2,154.774 million in 2019. Medicated bandages are gaining immense traction among the consumers as there is more number of bruises and cuts by falling on the road or ground causes the wound to be infected with bacteria, so after the cleaning, the medicated bandages are applied on the area, to protect it from further infection. This is done as it contains antibacterial ointments which are able to perfectly should the open wound so that no infection or pus causing bacteria is able to fester.
The increasing number of recreational activities amongst the children and younger teens in driving the demand.Young population these days are taking part in numerous types of activities such as cycling, running, and trekking, among other, which most of the times lead to cuts, scratches or abrasions on their skin, as it is sensitive. Thus, a coating, needs to applied on it, to prevent further injury or t stop the blood from coming out, thus allowing the wound to heal faster. This factor is propelling the market grot over the forecast period.
Guidelines and First Aid basic Tips being provided by the organizations such as WHO, FDA
First aid is an increasingly important part in the management of wounds, as the wound, however, small may it be, a minor cut or a scratch can promote bacterial growth, which holds the potential of causing infections in the place where the wound is or the area surrounding the wound. So it must be cleaned properly using antiseptic then the adhesive bandage must be applied in order to limit the expose if the wound and close it off.
According to the FDA–Title 21 under the Code of Federal Regulations (CFR) 800, the wound dressing devices, under which bandages are included are to be classified as Class I wound dressing devices. Under Part 880, which deals with the General Hospital, and Personal Use Devices, the bandages are listed as – 880.5090 Liquid Bandage, comes under Class I, 880.5075 Elastic Bandage also comes under Class I. Similarly, 880.5240 deals with the Medical adhesive tape and adhesive bandage, which is classified under Class I. After this process, the product which has classified under this system according to their features, undergo the, and have to adhere to the Food and Drug Administration (FDA) quality system regulation (QSR), only after which the product is registered in the FDA database and deemed to be safe for use in wound management of for providing first aid care.
Product Offerings by Major Market Players in the Adhesive Bandages Market Space
The offering of better and advanced varieties of adhesive bandages with enhanced technologies such as quality and durability among other properties by existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.
Some of the examples of product offerings are as follows:
The North American region is expected to hold a significant amount of share over the forecast period owing to the fact there are market players involved in catering to the demands of the end-user industries by offering top-quality solutions and products. In addition, the Asia Pacific region is expected to witness a significant increase in its market shareover the forecast period, which is attributable to the fact that the manufacturing d medica supplies and products for wound management and wound care are cheaper to due to t low cost of material and heap labor.