Adhesive Bandages Market Trends

Growth Drivers

• Growing Prevalence of Workplace Injuries with Fewer Safety Precautions - Workplace injuries are sicknesses or injuries that develop as a result of a worker's job. Typically, an unsafe work environment is responsible for workplace injury. Such injuries occur when a workplace location is dangerous, tools and equipment are old and defective, and the environment is hazardous with chemical contamination. These factors are responsible for causing injuries to employees. It was observed that employers around the world in the private sector reported nearly 3 million nonfatal occupational illnesses and injuries in 2020.
• Worldwide Upsurge in Trauma Cases Owing to an Increase in Head Injuries and Accidents – According to the World Health Organization (WHO), globally, approximately 1.3 million people's lives are ended as a result of a car accident every year. Non-fatal injuries affect 20 to 50 million people who are disabled as an outcome of their injury.
• Rising Burns Cases with Increasing Fire Accidents Across the World – For instance, every year, an estimated 1,80,000 individuals die as a consequence of burns, and a huge percentage of such incidents occur at work or home worldwide.
• Escalating Occurrence of Chronic Wounds Among People with Diabetes - In a clinical trial, it was observed that there were nearly 2.23 chronic wounds of mixed etiologies per 1000 people, and the incidence of chronic leg ulcers was estimated to be nearly 1.52 per 1000 people globally.
• Global Spike in Orthopedic Procedures with Rising Occurrence of Major Injuries - In the United States, approximately 6 million orthopedic surgeries are performed each year.

Challenges

• Increasing Demand for Alternative Products, such as Ointments - Not all wounds can be cured by bandages some require the application of antifungal or antibacterial ointments to enhance the rate of curing. The use of ointments will penetrate the skin layers aiding the WBC and platelets in the recovery of the tissue. All these are estimated to hamper the market growth during the forecast period as per the market analysis.
• Competitive Pricing of Adhesive Bandages Among Manufacturers’
• Escalating Demand for Medical Glues and Liquid Bandages