The medical adhesive tapes market is expected to grow from an estimated USD 6.64 billion in 2017 to USD 8.76 billion by 2022, at a CAGR of 5.69%. The high growth of the Asia Pacific medical adhesive tapes market can be attributed to the increased demand for medical adhesive tapes from emerging economies, such as India, China, Taiwan, South Korea, Vietnam, and Singapore, among others. The medical adhesive tapes market in China is growing rapidly and this trend is expected to continue till 2022, in terms of production and supplier activities, owing to low labor costs in the country. In addition, the demand for medical adhesive tapes in various applications is increasing rapidly, including surgeries, wound dressings, splints, secure IV lines, and ostomy seals, among others.
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China is leading the Asia Pacific medical adhesive tapes market. The growth of the China medical adhesive tapes market is due to its large population, availability of cheap labor, easy accessibility to raw material, lower taxes, and less stringent environmental regulations for the manufacture of medical adhesive tapes.
Among resin types, the silicone segment of the medical adhesive tapes market is expected to grow at the highest CAGR during the forecast period. Silicone adhesive tapes are gentler than traditional acrylate adhesives, as per clinical research. The performance of silicone adhesive tapes is excellent on low surface energy substrates. Major players are planning to increase the production capacity of silicone medical adhesive tapes considering future demand, as these are widely used for fragile skin such as infants and elderly patients with co-morbidities which cause the skin to become more fragile.
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Among applications, the secure IV lines segment of the medical adhesive tapes market is expected to grow at the highest rate from 2017 to 2022. These are useful due to factors such as increased security, decreased risk of infection, and improved site visibility.
3M Company (US), Medtronic Plc (Ireland), Nitto Denko Corporation (Japan), Johnson & Johnson (US), Smith & Nephew Plc (UK), Nichiban Co., Ltd. (Japan), PAUL HARTMANN AG (Germany), and Avery Dennison Corporation (US), among others are the key players operating in the medical adhesive tapes market.