Pressure Bandages Market to Surpass US$ 274.2 Million Threshold by 2025
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The Global Pressure Bandages Market, by Product Type (Long Stretch or Elastic Bandages, Multi-component Multilayer Bandage System, and Short Stretch or Low-elasticity Bandages), by Compression Pressure (Light Compression Bandages, Moderate Compression Bandages, and High Compression Bandages), by Material (Cotton Fabric, Latex Free, Polymer, and Others), by Application (Leg Ulcers, Deep Vein Thrombosis, Surgery, Trauma Injury, and Others), by End User (Hospitals, Ambulatory Surgical Centers, Research & Academic Institutes, and Home Care Settings) and by Region (North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa) was valued at US$ 188.8 million in 2017 and is projected to exhibit a CAGR of 4.8% over the forecast period (2017 – 2025), as highlighted in a new report published by Coherent Market Insights. The pressure bandage market is expected to gain significant traction with increasing number of surgeries, trauma cases, post-operative wound management worldwide and increasing demand for pressure bandages by the military to combat massive bleeding.
Availability of pressure bandages battlefield to combat mortality related to blood loss is expected to propel growth of the market
The conventional hemorrhage control methods such as tourniquets and clamps have proved inadequate to treat life-threatening bleeding injury. According to the study published by Sightline Media Group, 2012, uncontrolled blood loss was the leading cause of death in 90% of the potentially survivable battlefield cases and in 80% of those who died in a military treatment facility globally. Thus, the availability of pressure bandages is expected to potentially improve clinical care on the battlefield, thus propelling the growth of the pressure bandages market. In 2014, a pressure bandage named the emergency trauma care bandage or the Israel Bandage was introduced to save the lives on the battlefield by PerSys Medical. The bandage has replaced battle dressings and has become a standard for elite units of the U.S. Army worldwide.
Moreover, the initiatives undertaken by the market players and government organizations to aid in making wound care dressing easier is expected to augment market growth. For instance, the Iconic Wound Care Initiative launched by BSN Medical Ltd. in 2010, the initiatives allowed clinicians to choose the right dressings for patients, simplifying patient care, and helping to prevent product misuse.
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The rise in demand of trauma cases inadvertently raises the demand of pressure bandages to manage the event of excessive blood loss. According to the National Trauma Institute, 2014, trauma affects the people of all age group with the healthcare costs accounting for US$ 671 Bn annually, with 41 million emergency department visits and 2.3 million hospital admissions across the U.S. annually. The National Trauma Institute also states that hemorrhage post traumatic injuries account for an approximate 35% of pre-hospital deaths and 40% of overall deaths within 24 hours globally. The manufacturers are developing sterile, non-stick pad suitable for applying immediate pressure to wounds. For instance, Trauma Bandages by TyTek Medical incorporate a non-stick pad affixed to the bandage, delivering a one-step fast application of the pressure dressing, eliminating the need for separate gauze pads, and elastic wraps.
Key Takeaways of the Pressure Bandages Market:
- The global pressure bandages market is expected to exhibit a CAGR of 4.8% over the forecast period, owing to the presence of high potential market and increasing adoption of pressure bandages in Asia Pacific, Latin America, the Middle East, and Africa
- Among product type, multi component multilayer bandage system segment holds a dominant position in the pressure bandage market, owing to the higher convenience offered and the vast presence of the product in the product portfolio of the manufacturers
- Among application, leg ulcer segment holds a dominant position in the pressure bandage market, owing to the increasing number of factors contributing to the formation of venous leg ulcers, indicating the increasing prevalence of the condition
- Among end user, hospitals segment holds a dominant position in the pressure bandage market, owing to the large number of patient pool being operated for trauma cases and surgeries
- Some of the major players operating in the global pressure bandages market include Medtronic Plc., Smith & Nephew, ConvaTec, Inc., Cardinal Health, Inc., Johnson & Johnson, 3M, Nitto Denko Corporation, Tytek Medical, Persys Medical and BSN Medical
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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