About Elastic Bandages
Elastic bandage is a flexible, rolled bandage designed to wrap around a body part, such as an arm or leg, to give backing. It is used immediately after injury and can serve many functions such as control swelling around an injured joint, hold an ice pack in place, secure a splint after a fracture or severe sprain, and keep other bandages secure and protected. They can be classified based on their applications and product performance, and come in several different sizes up to 6 inches wide.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
To entice more end users, market players are focusing on providing Elastic bandages of higher quality while adhering to all regulatory standards. In the global Elastic bandages market, there are numerous large and small-scale manufacturers. They are also concentrating on the implementation of numerous advanced technologies. Furthermore, the numerous industry profits have led to the entry of new players, raising the level of rivalry in an already competitive market. The Elastic bandages market is currently expanding due to the increasing number of extra-curricular and sports activities by people. Some of the key players in this market follow strategies, which include new product offerings, product approvals, partnerships and alliances, mergers and acquisitions, and business expansions.The Players having a strong hold in the market are 3M, Cardinal Health, Inc., and Paul Hartmann. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Elastic Bandages market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
3M (United States), Cardinal Health, Inc. (United States), Paul Hartmann (Germany), Medtronic (Covidien), Kerma Medical Products, Inc. (United States), DeRoyal Industries (United States), BSN medical (Germany), Performance Health (United States), DJO Global, Inc. (United States) and Pepin Manufacturing, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Anji FangYuan Sanitary Material Co. Ltd. (China), Certified Safety Mfg., Inc. (United States), Avcor Health Care (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Elastic Bandages market by Type (Lightweight conforming, Light support, Light compression, Moderate compression, High compression and Extra high compression), Application (Upper Limbs and Lower Limbs) and Region.
On the basis of geography, the market of Elastic Bandages has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Width Size, the sub-segment i.e. 2 Inch will boost the Elastic Bandages market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Demand of Colored Elastic Bandage from the Patient
Market Growth Drivers:
Increasing sports injuries while playing various games is h major diver for the global elastic bandages market. In the United States approximately and 30 million children and teens participate in some form of organized sports, and more than 3.5 million injuries each year.
Challenges:
The rising number of counterfeit products has been affecting market growth.
Restraints:
High Cost Associated with Elastic Bandage
Opportunities:
Rising Healthcare Spending from the Developing Economies and Increasing Investment in the Research and Development by the Manufacturers
Market Leaders and their expansionary development strategies
In February 2024, Garware Fulflex India has announced the acquisition of Avcor Healthcare Products Inc., a prominent US-based developer, manufacturer, and marketer of premium compression dressings, thermal compression & cohesive compression bandages, tourniquet straps, and I.V. aids for both institutional and consumer/retail healthcare markets.
In January 2018, Aleo BME, a start-up has received notification from the United States FDA that it has been approved for the sale and licensing of ElaSkin as a liquid bandage for the protection and treatment of a broad set of skin conditions and injuries.
Sec. 880.5075 Elastic bandage. (a) Identification. An elastic bandage is a device consisting of either a long flat strip or a tube of elasticized material that is used to support and compress a part of a patient's body. (b) Classification. Class I (general controls). The device is exempt from the premarket notification procedures in subpart E of part 807 of this chapter, subject to the limitations in Sec. 880.9. The device also is exempt from the current good manufacturing practice requirements of the quality system regulation in part 820 of this chapter, with the exception of Sec. 820.180, with respect to general requirements concerning records, and Sec. 820.198, with respect to complaint files.
Key Target Audience
Elastic Bandages Manufacturers, Healthcare Research Institutes, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.