Elastic Bandages Market Demand, Size, Share & Forecast 2032

Elastic Bandages Industry Perspective

The global elastic bandages market size was worth around USD 4.84 billion in 2023 and is predicted to grow to around USD 8.47 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.52% between 2024 and 2032.

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The report covers a forecast and an analysis of the elastic bandages market on a global and regional level. The study provides historical data from 2028 to 2022 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes market drivers and restraints along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the elastic bandages market on a global level.

In order to give the users a comprehensive view of the elastic bandages market, we have included a competitive landscape and an analysis of Porter’s Five Forces Model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.

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The report provides a company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new technology launches, agreements, partnerships, collaborations & joint ventures, R&D, technology, and regional expansion of major participants involved in the market on a global and regional basis.

Elastic Bandages Market:  Overview

An elastic bandage is stretchable that implies localized pressure on the wound. Elastic bandages are generally used to treat muscle sprains and strains, as they decrease blood flow to the specific region that helps in limiting swelling at the injury site. These are utilized for treating bone fractures. The basic structure of an elastic bandage has altered, due to the danger of latex allergies. While some bandages are still manufactured with latex, without the use of natural rubber, many woven and knitted elastic bandage provide sufficient compression. Once wrapped around the wound, aluminum or stretchable clips are often used to fasten the bandage. Some elastic pads even use Velcro closures to secure the wrap and stabilize it.

Elastic Bandages Market: Growth Factors

Increasing numbers of recreational operations, such as adventure sports and trekking lead to numerous cuts, abrasion, minor wounds, and body parts wound formation. Elastic bandages are required in such cases. In addition, the increase in road accident cases globally that leave people with non-fatal wounds require bandages to be applied quickly to avoid further harm. This is also fuelling the elastic bandages market. Increasing incidences of both national and workplace injuries are significant reasons for dealing with an elastic bandage. Domestic activities like cooking in the kitchen, daily chores, falling, cooking burns, household products poisoning are significant causes of injury, especially among females and kids. This is another factor driving the elastic bandages market. However, the high cost of advanced dressing and adverse effects on the skin of the bandage in extreme cases may restrain the elastic bandages market on a global scale.

Elastic Bandages Market: Segmentation

The study provides a decisive view of the elastic bandages market by segmenting it based on type, material, application, and region. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

By product, the elastic bandages market is classified into general and colored. The colored elastic bandages are non-allergenic due to the use of high-quality natural fibers that eliminates itching. It has a soft-strong texture that allows blood circulation, which makes it ready to be applied across all fields for long time periods when needed. Colored elastic bandages can be used to treat varicose, orthopedic injuries, sports trauma, traction of soft tissue, and surgery.

The material segment comprises polyester, latex-free elastic yarns, and cotton. The application segment includes splint protection, orthopedists, muscle strains, bone fractures, muscle sprains, and sports medicine.

Elastic Bandages Market: Report Scope

Global Elastic Bandages Market: Regional Analysis

The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa. North America is poised to maintain its dominant position due to a concerning rise in chronic wounds, orthopedic injuries, and surgeries. These conditions often require elastic bandages for support and compression during healing. Europe presents another promising growth market. Here, a combination of lower production costs and increasing healthcare spending creates favorable conditions for elastic bandages to be a cost-effective medical solution.

The Asia Pacific region is anticipated to be a future major player. Lower production costs in this region make elastic bandages an attractive option, and rising healthcare expenditure fuels the demand for various medical supplies, including elastic bandages. Overall, the global elastic bandage market is set to benefit from growing needs in wound care, and orthopedic treatments, and a general rise in healthcare spending across different regions.

Elastic Bandages Market: Competitive Analysis

The global elastic bandages market is dominated by players like:

• 3M
• Cardinal Health
• Avcor Health Care
• Tetra Medical Supply
• Paul Hartmann
• Covidien
• Kerma Medical Products
• DeRoyal Industries
• BSN Medical
• Patterson Medical
• DJO Global

This report segments the global elastic bandages market into:

Global Elastic Bandages Market: Product Analysis

• General
• Colored

Global Elastic Bandages Market: Material Analysis

• Cotton
• Polyester
• Latex-Free Elastic Yarns

Global Elastic Bandages Market: Application Analysis

• Muscle Sprains
• Muscle Strains
• Bone Fractures
• Splint Protection
• Sports Medicine
• Orthopedists

Global Elastic Bandages Market: Regional Analysis

• North America

  • The U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa