The Global Medical Adhesive Tapes Market Size Is Estimated To Be Worth US$ 12900 Million In 2022

The Impact of COVID-19 on the Global Medical Adhesive Tapes Market

Due to the emergence of COVID-19, the value chain for medical adhesive tapes has been disrupted in many ways. Due to the suspension of several industries, including raw material manufacturers, the value chain has been severely disrupted. International and regional road restrictions enforced around the world to halt the pandemic's spread exacerbated the problem. As a result, for a limited while, the prices of various raw materials, such as PVC and paper, jumped by 10% to 50%.

Apart from the aforementioned, the COVID-19 pandemic wreaked havoc on the healthcare profession. This pandemic put the world's healthcare infrastructure to the test. Healthcare facilities were in insufficient supply in a number of countries. Since the epidemic, there has been a huge surge in demand for medical adhesive tapes.

Market Trends for Medical Adhesive Tapes

Growth in surgical procedures and operations is a driving force.

Incisions and amputations are common in surgeries, making them a major source of wounds. Catheters and infusions are required in the majority of pre- and post-surgery cases. Medical adhesive tapes are used to secure wound dressings and infusion lines, as well as heal wounds, therefore demand is likely to rise as the number of surgeries performed around the world increases.

The development in the number of surgical procedures performed around the world is due to a number of reasons, which vary depending on the type of surgery. According to data collected from 150 nations, Latin America and the Caribbean had the highest rate of C-section surgery, accounting for 40.5 percent of all births. Northern America had 32.3 percent, Europe had 25.0 percent, Asia had 19.2 percent, and Africa had 7.3 percent (the lowest globally). Apart from Africa and Asia, most regions throughout the world consider these figures to be extremely excessive, as the WHO estimates that only 15% of cases require C-sections. With the growing emphasis on decreasing discomfort during childbirth, C-section surgeries are becoming more common. As a result of this tendency, the medical adhesive tapes market offers a significant growth sector.

Recent Findings in the Adhesive Tapes market

• Medtronic Plc., the global leader in medical technology, announced in August 2021 that it had reached a definitive agreement with Intersect ENT, a global ear, nose, and throat (ENT) medical technology leader dedicated to transforming patient care, under which Medtronic will acquire all outstanding shares of Intersect ENT for USD 28.25 per share in an all-cash transaction valued at approximately USD 1.1 billion.
• Medline completed the purchase of a major chunk of Teleflex's Hudson RCI brand of respiratory consumables in June 2021.
• Medline will improve the local healthcare supply chain with a USD 1.5 billion investment in May 2021.
• Johnson & Johnson's manufacturing site in Ringaskiddy, Ireland, will continue to expand in September-2021. The firm plans to expand the site's capacity even more after completing a USD 354 million expansion in 2019.
• Medtronic Plc. purchased Medicrea International, a leader in the development of artificial intelligence (AI), predictive modelling, and patient-specific implants for spine surgery, in November 2020.
• Johnson & Johnson completed its all-cash acquisition of Momenta Pharmaceuticals, Inc., a company that discovers and develops new treatments for immune-mediated illnesses, for approximately USD 6.5 billion in October of 2020.

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