[Research Report] The self-adherent wraps market size is projected to grow from US$ 295.14 million in 2022 to US$ 404.11 million by 2028; the market expected to record a CAGR of 5.4% from 2022 to 2028.
Industrial workwear products help ensure workers’ safety in industrial settings. They are designed specifically to absorb shocks or any kind of impact that may cause injuries to employees and workers. Moreover, they are made of wear-resistant, chemical-resistant, and flame-resistant materials offering effective protection from different hazards. Manufacturers of industrial workwear are launching cost-effective products with advanced features to meet the rising consumer demand, which is expected to provide immense opportunities for the self-adherent wraps market growth in the coming years.
Impact of COVID-19 Pandemic on Self-Adherent Wraps Market
In 2020, various industries had to slow down their operations due to disruptions in value and supply chains caused by the shutdown of national and international boundaries. The COVID-19 pandemic adversely affected economies and industries due to lockdowns, travel bans, and business shutdowns. In countries such as the US, China, Italy, Germany, Brazil, and India social distancing measures and related labor shortages, reduced industrial activities throughout the country. According to the Ministry of Emergency Management, due to reduced industrial activities, China recorded a significantly less number of workplace accidents, injuries, and related deaths in 2020, posting the lowest figure in over seven decades. These factors created a significant slowdown in demand for self-adherent wraps. Further, the cancellation of various sports events and matches due to the pandemic resulted in a reduced number of sports and recreational-related injuries. All these factors brought down the consumption of self-adherent wraps.
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Self-Adherent Wraps Market: Strategic Insights
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Customize This Report To Suit Your Requirement
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Self-Adherent Wraps Market: Strategic Insights
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Market Insights
Increasing Investments in Healthcare Infrastructure to Provide Lucrative Growth Opportunities
Various countries worldwide are focusing on enhancing healthcare infrastructure in line with the highest global standards and specialized treatment. Investments in strengthening health system resilience aim to protect people, fortify the foundations of health systems, and provide better health services to people. According to the news released in March 2021, the Government of Ontario announced its plans to invest up to US$ 41.8 million (CAD 53 million) in constructing the new Grey Bruce Health Services Markdale Hospital. This hospital is expected to replace the old facility and boost capacity and access to care for patients and families in Grey County and the neighboring areas. In India, the government launched Ayushman Bharat Scheme in 2018 to provide comprehensive primary health care. As part of this scheme, 1.5 lakh Ayushman Bharat-Health and Wellness Centres (AB-HWCs) are being set up across the country by upgrading Sub-Health Centres (SHCs), Primary Health Centres (PHCs), and Urban Primary Health Centres (UPHCs). As a result of increasing investments in healthcare infrastructure, the demand for various medical products required to treat patients, including self-adherent wraps, is expected to grow. Self-adherent wraps are used in applications such as emergency rooms, intensive care units, surgeries, wound care, cardiovascular, and critical care. Hence, the increasing investments in healthcare infrastructure is expected to provide more opportunities for the self-adherent wraps market growth during the forecast period.
Type-Based Insights
Based on type, the self-adherent wraps market is segmented into sterile and non-sterile. The sterile segment projected to register a higher CAGR during the forecast period. Sterile self-adherent wraps are made from high-quality materials that are safe for the skin and allow good ventilation. These wraps do not cause irritation to the skin and provide compression to ankles, knees, wrists, and elbows. The sterile self-adherent wraps are a safer option, especially if used near a wound, cut, or broken skin. They have antibiotic properties and are made to resist bacteria. These factors are significantly driving the growth of the sterile self-adherent wraps segment.
End Use-Based Insights
Based on end use, the self-adherent wraps market is segmented into hospitals, specialty clinics, household healthcare, and others. The household healthcare segment held the largest share of the market in 2021. In household healthcare, self-adherent wraps and other medical supplies are common in first aid kits. Self-adherent wraps are highly used to wrap sprained joints, secure wound dressings, and other purposes. The wraps can be worn comfortably for long periods as they are soft, porous, and breathable. Due to all these benefits, these wraps are highly used in household healthcare.
The key players operating in the self-adherent wraps market include 3M Co, Cardinal Health Inc, PRIMED Medical Products Inc, Johnson & Johnson Consumer Inc, Walgreens Co, Dynarex Corp, Milliken & Co, Medline Industries LP, Essity AB, Steroplast Healthcare Ltd, and Performance Health Holding Inc. These players focus on providing high-quality products to fulfill customer demands. They also focus on strategies such as investments in research and development activities and new product launches.
Report Spotlights
- Progressive industry trends in the self-adherent wraps market to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the self-adherent wraps market from 2020 to 2028
- Estimation of the global demand for self-adherent wraps
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers of self-adherent wraps
- Recent developments to understand the competitive market scenario
- Market trend and outlook, along with factors driving and restraining the self-adherent wraps market growth
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- Size of the self-adherent wraps market at various nodes
- Detailed overview and segmentation of the market, as well as the self-adherent wraps industry dynamics
- Size of the self-adherent wraps market in various regions with promising growth opportunities
Self-Adherent Wraps Market Regional Insights
Self-Adherent Wraps Market Regional Insights
The regional trends and factors influencing the Self-Adherent Wraps Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Self-Adherent Wraps Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
- Get the Regional Specific Data for Self-Adherent Wraps Market
Self-Adherent Wraps Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 295.14 Million |
| Market Size by 2028 | US$ 404.11 Million |
| Global CAGR (2022 - 2028) | 5.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Self-Adherent Wraps Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Self-Adherent Wraps Market are:
- 3M Co
- Cardinal Health Inc
- PRIMED Medical Products Inc
- Johnson & Johnson Consumer Inc
- Walgreens Co
Disclaimer: The companies listed above are not ranked in any particular order.
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Company Profiles
- 3M Co
- Cardinal Health Inc
- PRIMED Medical Products Inc
- Johnson & Johnson Consumer Inc
- Walgreens Co
- Dynarex Corp
- Milliken & Co
- Medline Industries LP
- Essity AB
- Steroplast Healthcare Ltd
- Performance Health Holding Inc
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and End Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, Sweden, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Based on type, the non-sterile segment held the largest share in the global self-adherent wraps market in 2022. Non-sterile self-adherent wraps are most commonly used for closed wounds. They are suitable for providing soft cushioning support or coverage for a bruise or related wound. These types of wraps are highly used in household healthcare, gyms, sporting institutes, and training centers, etc. Non-sterile self-adherent wraps are more cost-effective as compared to sterile self-adherent wraps.
Advantages of self-adherent wraps and increase in use of self-adherent wraps in the sports and fitness sectors are the major factors driving the market growth.
North America is estimated to register the fastest CAGR in the global self-adherent wraps market over the forecast period. The North America self-adherent wraps market has progressed over the past few years due to rising expenditure on healthcare infrastructure supported by favorable government policies and frameworks. Increasing incidence of trauma-related injuries and surgeries has created a demand for self-adherent wraps in the region.
3M Co, Cardinal Health Inc, PRIMED Medical Products Inc, Johnson & Johnson Consumer Inc, Walgreens Co, Dynarex Corp, Milliken & Co, Medline Industries LP, Essity AB, Steroplast Healthcare Ltd, and Performance Health Holding Inc are a few players operating in the global self-adherent wraps market.
Based on type, the sterile segment is estimated to register the fastest CAGR in the global self-adherent wraps market over the forecast period. Sterile self-adherent wraps have antibiotic properties and are made to resist bacteria. Also, they keep open wounds clean. These wraps are made from high-quality materials that are safe for the skin and allow good ventilation. Due to all these benefits, there is a rising demand for sterile self-adherent wraps across the globe.
In 2022, Europe held the largest share of the global self-adherent wraps market. In Europe, growing number of multispecialty hospitals across a large number of cities supported by need to accommodate emergency admissions of patients is surging the adoption of self-adherent wraps. Additionally, Europe self-adherent wraps market is anticipated to grow at a significant rate during the forecast period due to rise in geriatric population and growing healthcare expenditure in European countries.
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The List of Companies - Self-Adherent Wraps Market
- 3M Co
- Cardinal Health Inc
- PRIMED Medical Products Inc
- Johnson & Johnson Consumer Inc
- Walgreens Co
- Dynarex Corp
- Milliken & Co
- Medline Industries LP
- Essity AB
- Steroplast Healthcare Ltd
- Performance Health Holding Inc.
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