by Plastic bandages are adhesive bandages used for covering minor cuts, scrapes, and burns. They protect wound from contamination and contact. Plastic bandages provide a barrier between skin and environmental pathogens. They are water resistant and avoid sticking to wound surface while removal, minimizing pain. Plastic bandages promote fast healing and are available in various sizes for cuts and wounds of all shapes and depths. They are used at homes, hospitals, and clinics.
The global plastic bandages market is estimated to be valued at US$ 11.14 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Market Dynamics:
The plastic bandages market is driven by rising number of minor cuts and wounds worldwide. According to World Health Organization (WHO), nearly 8,00,000 people succumb to wounds and associated infections annually. Minor cuts and burns have become part of daily life resulting from shaving, cooking, sports activities, and domestic or workplace injuries. Plastic bandages are highly effective in protecting wounds and promoting self-healing. Another driver has been increasing awareness about hygiene and infection control through regular use of bandages. Their low cost and easy availability further encourage adoption for treating cuts. While low healing time due to breathability and water resistance fuel plastic bandage demand.
SWOT Analysis
Strength: Plastic bandages are highly portable, waterproof and more comfortable than traditional cloth or gauze bandages. They are easy to apply and remove with minimum pain. Plastic bandages effectively protects wounds from external contamination.
Weakness: Plastic bandages don’t breath and traps sweat against the skin which can cause maceration of wound edges. They also don’t conform well to joints and harder to apply on hairy areas of the body compared to traditional cloth bandages.
Opportunity: Growing incidence of minor injuries and wounds across the world offers growth opportunity for plastic bandage manufacturers. Increasing awareness about advance wound care products augments demand. Growing geriatric population prone to injuries and chronic wounds expands market scope.
Threats: Availability of alternative traditional cloth bandages at lower costs pose pricing pressure. Strict regulations pertaining to product quality and safety hampers small players. Fluctuation in raw material prices impacts overall production cost.
Key Takeaways
The Global Plastic Bandages Market Demand is expected to witness high growth. The global plastic bandages market is estimated to be valued at US$ 11.14 Bn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.
Regional analysis related content comprises the North America region currently dominates the market and is expected to maintain its leading position during the forecast period. Factors such as growing incidence of road accidents and sports injuries coupled with advancing healthcare infrastructure drives regional market growth.
Key players related content comprises 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
