The global Pressure Bandages Market size is slated to top USD 217.2 Million in 2022. Increasing incidence of diabetic foot ulcers and lymphedema is spurring demand for pressure bandages, which is expected to boost sales at a 3.4% CAGR, pushing the market valuation to USD 274.5 Million in 2029.
| Attribute | Details |
|---|---|
| Pressure bandages Estimated Market Size 2022 | USD 217.2 Million |
| Pressure bandages Market Value-based CAGR (2022 to 2029) | 3.4% |
| Pressure bandages Market Projected Size in 2029 | USD 274.5 Million |
Pressure bandages are the first line of care when it comes to minor injuries such as sprains and cuts. They are used to control the bleeding and to protect the injured area without affecting the blood circulation.
Product innovations in the advanced wound management market are expected to bolster sales of pressure bandages in the forthcoming years. As per Future Market Insights (FMI), sales of pressure bandages represent 2.8% of the overall advanced wound management market.
| Particulars | Details |
|---|---|
| H1, 2021 | 3.27% |
| H1, 2022 Projected | 3.40% |
| H1, 2022 Outlook | 3.00% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 40 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 27 ↓ |
The comparative and review analysis of market dynamics within pressure bandages market revealed that H1-2022 outlook period in comparison to H1-2022 projected period will show a negative growth in terms of Basis Point Share by 40 BPS. In H1-2022, the market growth rate of pressure bandages is expected to fall by 27 basis point share (BPS) when compared to H1-2021, as per FMI analysis.
The market for pressure bandages is subject to changes as per disease epidemiology, product adoption rate, and product patents, as a part of the macro and industry dynamics. The observed decline in the BPS values is associated with poor patient compliance on the product, as well as the drawbacks associated with inelastic pressure bandages.
Key developments in the market include the design and development of patient specific compression bandages for instances associated with diabetic foot ulcer management, and wound management. The introduction of gradient pressure systems within newly introduced compression socks products will further promote the growth of the overall pressure bandages market during the forecast period.
The utilization of pressure bandages promotes a reduced length of hospital stay along with cost savings on regular bulk inventory of conventional bandages. Thus, adding to the factors for market growth in future.
Demand in the market is forecast to grow at a 3.4% CAGR, in comparison with the 2.7% CAGR registered between 2014 to 2021, finds FMI.
These medical devices are primarily used to compress the dead space at the site of cut, injury, or incision and to prevent the formation of hematoma or seroma. They have a wide range of applications in different cases such as leg ulcers, the management of chronic and acute wounds, orthopedic surgeries, and musculoskeletal injuries.
There are different types of pressure bandages available in the market such as elastic bandages, low elastic bandages, multi-layer bandages to suit applications in different medical indications. To improve the convenience and effectiveness of these bandages, manufacturers are investing in research and development to enhance the quality of raw materials used.
As per FMI, surging incidence of lymphedema, deep vein thrombosis, and diabetic foot ulcers across the globe will drive sales in the market. According to a study published in the National Center for Biotechnology Information, the USA National Library of Medicine, the annual incidence of diabetic foot ulcers worldwide is between 9.1 million to 26.1 million.
As the prevalence continues to rise, demand for pressure bandages will increase in tandem, which is expected to fuel sales in the market over the assessment period.
Since pressure bandages are used as the first line of care in minor injuries, they are widely available in pharmacies, supermarkets, and online retail channels. These bandages are easy to access and are effective for treating minor wounds and injuries at home, which in turn is propelling sales in the market.
These bandages are an important first-aid technique used in medical settings for serious injuries as well. They provide compression to the injured blood vessels by stimulating blood clot formation, thereby preventing rapid blood loss and hemorrhage.
They are also effective in stabilizing wounds such as venomous snake bites as they prevent venom progression into the bloodstream. Owing to the convenience and accessibility at any point of care, they are also being adopted for sports injuries and other severe accidents.
Growing incidence of diabetic foot ulcers and venous leg ulcers is presenting a posing as a burden on the healthcare system. However, these ulcers can be treated by using compression bandages. These bandages are recommended for 2-3 days by physiotherapists for acute injuries to reduce pain and swelling.
In addition to this, growing investments in the healthcare sector to improve the quality of these bandages and to promote their usage will boost the market in the forthcoming years. Growing applications of pressure bandages for foot ulcers in emerging economies will continue fueling sales in the market over the forecast period.
Healthcare Providers in the USA are Prescribing Pressure Immobilisation Bandages for Trauma Injuries
As per the report, the USA is expected to dominate the North America pressure bandages market over the assessment period owing to the presence of a robust healthcare sector and patient healthcare reimbursement plans. Sales in the North America market are slated to account for 40.6% of the total market share in 2022.
According to the Centers for Disease Control and Prevention (CDC), approximately 37.3 million people in the USA currently have diabetes, which is equal to 11.3% of the USA population.
High prevalence of diabetic foot ulcers in the country is spurring demand for effective wound management solutions. Pressure bandages act as a temporary solution to curb excessive blood loss in diabetic foot ulcers till the time of treatment, surgery, or amputation, which, in turn, is driving sales in the USA market.
High Incidence of Leg Ulcers to Fuel Sales of Pressure Bandages for Foot
China is expected to account for a lion’s share of the East Asia pressure bandages market over the forecast period. As per FMI, demand in Asia Pacific Excluding Japan is projected to account for 11% of the total market share in 2022.
Increasing prevalence of leg ulcers due to diabetes and other chronic illnesses such as arthritis is spurring demand for advanced wound management products, which, in turn, is boosting sales of pressure bandages.
In addition to this, increasing investments by the government for availing patient healthcare reimbursement plans in China will continue augmenting the growth of the market in the forthcoming years.
Increasing Applications of Pressure Wound Bandages to Fuel Growth in the UK
Sales in the UK are projected to increase at a considerable pace amid surging demand for effective and easily accessible wound management devices for home and medical settings. As per the report, the Europe pressure bandages market is projected to account for 31.8% of the total market share in 2022.
The presence of leading market players in the UK is also expected to bode well for the market. Players are investing in research and development to improve the quality of raw materials used for making these bandages, including latex and polyester.
Furthermore, growing trend of medical tourism in the country for the treatment of deep vein thrombosis and lymphedema is expected to bolster sales in the market over the assessment period.
Athletes and Sports Professionals Prefer Long Stretch Bandages for Trauma Relief
Based on the product type, demand for long stretch bandages is expected to remain high over the assessment period. Growth can be attributed to the easy availability and accessibility of these bandages in home care and medical settings.
These bandages are being adopted by athletes and sports professionals for quick pain relief from traumatic injuries such as sprains and ligament tears. Further, increasing product developments with enhanced quality of the material will continue fueling sales in this segment over the forecast period.
High Demand for Cotton Pressure Relief Bandages will Bolster Sales
In terms of raw material, demand in the cotton segment is slated to account for a dominant share in the global pressure bandages market. These bandages are soft on the skin and provide adequate pressure to control excessive bleeding and pain.
Besides this, increasing availability and sales of these bandages in supermarkets, hypermarkets, online channels, and pharmacies will bolster growth in this segment over the forecast period.
Demand for Pressure Wound Bandages for Leg Ulcers will Remain High
Sales in the leg ulcers segment are expected to gain traction over the forecast period. Increasing incidence of chronic ulcers, along with the high prevalence of diabetic foot ulcers across the globe is spurring demand for high-pressure wound bandages, thereby pushing sales in this segment.
In addition to this, increasing government-led investments in diabetes awareness programs, along with patient reimbursement plans for ulcer treatment will continue boosting growth in this segment in the forthcoming years.
Sales of Pressure Bandages for Legs Will Increase in Pharmacies
Based on the sales channel, sales in the pharmacies segment are slated to gain momentum through 2029. Easy availability of a wide range of bandage types in pharmacies is a chief factor driving sales in this segment.
Further, hospital pharmacies and general pharmacies retail high-quality bandages suited for various applications, from minor trauma injuries to major burns, cuts, and ulcers, which enables consumers to buy the bandages and use them in homecare settings. This is expected to continue fueling sales over the assessment period.
Leading players operating in the global pressure bandages market are investing in research and development to improve the quality of these bandages. Through this, players are also expecting to expand their product portfolios. Further, players are investing in mergers, acquisitions, and collaborations to expand their distribution networks across various countries and regions.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2029 |
| Historical Data Available for | 2014 to 2021 |
| Market Analysis | Units for Volume and USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania, and MEA |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others. |
| Key Market Segments Covered | Product Type, Raw Material, Application, Distribution Channel, and Region |
| Key Companies Profiled | BSN Medical (Svenska Cellulosa Aktiebolaget SCA); Smith & Nephew; 3M Inc.; Medtronic, Plc; Cardinal Health; ConvaTec Inc. |
| Pricing | Available upon Request |
The global pressure bandages market is expected to reach a valuation of USD 217.2 Million in 2022.
The global pressure bandages market grew at a 2.7% CAGR between 2014 and 2021.
Growing incidence of diabetic foot ulcers, along with increasing investments in patient healthcare reimbursement plans will boost sales in the market over the assessment period.
North America is projected to account for 40.6% of the global pressure bandages market share during the forecast period.
The pressure bandages market in Europe is anticipated to command 31.8% of the total market share in 2022.
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Pressure Bandages Market
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