Self-Adherent Wraps Market (Type, End Use) - Reach $404.11 Million by 2028 at 5.4% CAGR with Sterile Segment Driving Growth During 2022–2028 | The Insight Partners

Pune, India, June 26, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Self-Adherent Wraps Market Size Report, Share, Revenue, Growth Strategy, Industry Trends and Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, End User, and Geography”, the global market size is expected to grow from $295.14 million in 2022 to $404.11 million by 2028; it is estimated to grow at a CAGR of 5.4% from 2022 to 2028.

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Self-Adherent Wraps Market Report Scope, Segmentations, Regional & Country Scope:

Browse key market insights spread across 156 pages with 60 list of tables & 72 list of figures from the report, "Self-Adherent Wraps Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Sterile and Non-Sterile) and End Use [Hospitals, Specialty Clinics, Household Healthcare (Pharmacies, Online, and Other Household Healthcare), and Others]" in detail along with the table of contents: https://www.theinsightpartners.com/reports/self-adherent-wraps-market

Global Self-Adherent Wraps Market: Competitive Landscape and Key Developments
Cardinal Health Inc, Dynarex Corp, PRIMED Medical Products Inc, 3M Co, Johnson & Johnson Consumer Inc, Walgreens Co, Milliken & Co, Essity AB, Steroplast Healthcare Ltd, Performance Health Holding Inc, and Medline Industries LP are a few of the major players operating in the self-adherent wraps market. Companies in this market focus on strategies such as investments in research and development activities and new product launches.

Self-Adherent Wraps Market: Key Insights
The growth of self-adherent wraps market is attributed to the advantages of self-adherent wraps over traditional wraps and increasing adoption in the sports and fitness industries.

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Europe held the largest share of the self-adherent wraps market in 2021. Increasing number of multispecialty hospitals supported by the rising need to accommodate emergency admissions of patients across many cities is likely to instigate the adoption of self-adherent wraps across Europe. As per Eurostat, around 21.1 % of the EU population was aged 65 and above, registering for one-fifth of the total population, in 2022. According to the Organization for Economic Co-operation and Development Health Statistics 2022, on average, 3 out of 4 patients aged 65 and above across EU countries underwent surgery within 2 days following admission with a hip fracture. Besides, the geriatric population possesses a high risk of chronic health diseases and is prone to injuries due to associated comorbidities. Self-adherent wraps are used on sprains, strains, and secure dressings to stabilize injuries. According to the “Health at a Glance: Europe 2022” report, published by Organization for Economic Co-operation and Development, primary healthcare accounted for 13% of total health expenditure in the EU countries in 2020. Moreover, in 2022, injuries caused due to football matches across five major European leagues increased by 20% compared to 2021. All these factors are significantly driving the growth of self-adherent wraps market across Europe.

Increase in Use of Self-Adherent Wraps in Sports and Fitness Sectors is Driving the Market Growth:
Various injuries can occur during a workout, such as muscle pull and strain, sprained ankle, knee injuries, and wrist sprain or dislocation. According to the National Safety Council, regarding exercise and exercise equipment injuries, the number of injuries increased slightly in 2021 compared to 2020 (409,224 injuries in 2021 compared to 377,939 in 2020). Self-adherent wraps provide support for sprains and strains. Self-adherent wraps do not stretch and loosen over time like athletic bandage tape. These wraps can be applied in more layers to create more support. As a result, self-adherent wraps are highly used in the sports and fitness sectors to wrap ankle sprains and strains and secure dressings quickly. Hence, the increasing use of self-adherent wraps in the sport and fitness sectors is driving the market growth.

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Self-Adherent Wraps Market: Segmental Overview
Based on type, the self-adherent wraps market is bifurcated into sterile and non-sterile. The non-sterile segment held a larger market share in 2021. Non-sterile self-adherent wraps are more cost-effective than sterile self-adherent wraps. These wraps are available in different lengths, widths, and colors to meet application needs. The benefits of non-sterile self-adherent wraps, such as cost-effectiveness and product availability in different formats, are driving the growth of this segment.

Based on end use, the self-adherent wraps market is segmented into hospitals, specialty clinics, household healthcare, and others. The household healthcare segment is further classified into pharmacies, online, and other household healthcare. The household healthcare segment is held the largest market share, whereas the specialty clinics segment is projected to register the highest CAGR during the forecast period. Specialist clinics provide access to medical, nursing, midwifery, and allied health professionals for assessment, diagnosis, and treatment. They also offer access to pre-and post-hospital care, maternity care, and diagnostic services such as pathology and imaging. In specialty clinics, self-adherent wraps are used in applications such as back and neck pain treatments, and pediatrics. Patients highly prefer specialty clinics due to the high-quality care, more advanced treatment options, and the favorable staff-to-patient ratio available at these specialty facilities. This positively impacts the demand for self-adherent wraps from specialty clinics.

Impact of COVID-19 Pandemic on Self-Adherent Wraps Market
Before the onset of the COVID-19 pandemic, the demand for self-adherent wraps was high due to increasing demand in the sports and fitness industries. However, industries faced unprecedented challenges during the pandemic in 2020. Due to the pandemic, many sporting events and matches were postponed or canceled, owing to which a smaller number of sports and recreational injuries were reported in 2020. All these factors negatively impacted the consumption of self-adherent wraps in the sports industry. The global marketplace began recovering from the losses incurred as governments of different countries announced relaxation in social restrictions. Moreover, the rising vaccination rates created conducive environments for industrial progress and manufacturing. Factors such as the reopening of gyms and sports academics further drive the demand for self-adherent wraps. According to the National Safety Council, sports and recreational injuries rebounded by 20% in 2021, following a 27% decrease in 2020. These factors are expected to significantly drive the growth of self-adherent wraps market during the forecast period.

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Sports Tapes Market - Muscle discomfort is becoming more common as a result of an increase in minor sports-related injuries, which will help drive sports tapes market expansion. Furthermore, these tapes aid in the relief of pain in the elderly, resulting in an increase in the market for sports recordings.

Medical Supplies Market - Medical supplies market is driven by rise in the surgical procedures, geriatric populace and rise in the incidences of several chronic diseases resulting in longer hospital admissions.

Elastic Adhesive Market - Advancement in adhesive bonding for the purpose of attaining ease in the application is driving the growth of the elastic adhesive market.

Healthcare Adhesive Tapes Market - The healthcare adhesive tapes market is assumed to grow in the forecast considering the growth in surgical operations and procedures.

Sports Tapes Market - Muscle discomfort is becoming more common as a result of an increase in minor sports-related injuries, which will help drive sports tapes market expansion. Furthermore, these tapes aid in the relief of pain in the elderly, resulting in an increase in the market for sports recordings.

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