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Pressure Bandages Market is expected to boost sales at a 3.4% CAGR, pushing the market valuation to US$ 274.5 Million in 2029

[195 Pages Report] According to a new report by Future Market Insights titled “Pressure Bandages Market: Global Industry Analysis (2014 – 2021) and Opportunity Assessment (2021 – 2029),” the global pressure bandages market is estimated to grow from US$ 186.5 Mn in 2022 to US$ 257.4 Mn by 2029 end. This reflects a CAGR of 3.3% over the forecast period 2022– 2029. The global market represents absolute $ opportunity of US$ 5.1 Mn in 2023 over 2022 and incremental opportunity of US$ 70.9 Mn between 2022 and 2029 North America is currently the most lucrative regional market for pressure bandages, followed by Western Europe and APEJ. However, in terms of annual growth, the Latin America pressure bandages market is anticipated to experience the highest CAGR of 3.9% during 2022-2029.

Global Pressure Bandages Market: Opportunities

  • Penetration of orthopaedic treatments in emerging economies including Asia Pacific and MEA is still not as widespread as compared to North America and Europe. This is owing to low awareness regarding advanced wound management and associated risk factors amongst the general as well as obese population
  • The retail e-commerce channel has gained significant attraction from consumers in the last few years, and is expected to show rapidly increasing adoption over the forecast period. Sales of pressure bandages through e-commerce have also increased in the last few years with e-commerce companies providing attractive discounts to their customers

Global Pressure Bandages Market: Forecast by Product Type

On the basis of product type, the global market for pressure bandages is segmented into short stretch bandages, long stretch bandages and multi-layer compression systems. In terms of value, short stretch bandages are likely to dominate the market throughout the period of forecast, while the long stretch bandages segment is expected to be the fastest growing segment during 2022-2029.

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Global Pressure Bandages Market: Forecast by Application

Segmentation by application includes lymphedema, leg ulcers, deep vein thrombosis and others. The leg ulcers segment is expected to be the most lucrative market for pressure bandages, with an attractiveness index of 1.9, while lymphedema is expected to remain the least attractive in the global market in revenue terms over the forecast period.

Global Pressure Bandages Market: Forecast by Raw Material

The different segments by raw material include cotton, latex, polyester, and others. Cotton dominated the pressure bandages market in revenue terms in 2021, and the trend is projected to continue throughout the forecast period.

Global Pressure Bandages Market: Forecast by Distribution Channel

On the basis of distribution channel, the global pressure bandages market is segmented into retail stores, online stores, hypermarkets & supermarkets, pharmacies and clinics. Retail stores and online pharmacies segments are expected to reflect an attractiveness index of 1.8 over the forecast period. The retail stores segment accounted for a market share of 41.4% in 2021.

Global Pressure Bandages Market: Forecast by Region

The seven key geographies of North America, Latin America, Eastern Europe, Western Europe, APEJ, Japan and MEA have been covered in this report. North America dominated the pressure bandages market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. MEA and Japan are expected to remain least attractive in the global market in revenue terms, with a market attractiveness index of 0.2 over the forecast period.

Global Pressure Bandages Market: Key Players

Some of the key players in the global pressure bandages market profiled in the report are BSN Medical (Svenska Cellulosa Aktiebolaget SCA), Smith & Nephew, 3M Inc., Medtronic Plc., Cardinal Health and ConvaTec Inc.

Pressure bandages Market by Category

By Product Type:

  • Short Stretch Bandages
  • Long Stretch Bandages
  • Multi-layer Compression Systems

By Raw Material:

  • Cotton
  • Latex
  • Polyester

By Application:

  • Lymphedema
  • Leg Ulcers
  • Deep Vein Thrombosis

By Distribution Channel:

  • Retail Stores
  • Online Stores
  • Hypermarkets and Supermarkets
  • Pharmacies
  • Clinics

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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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Last Updated: 08-Mar-2022