iCrowd Newswire – Jul 17, 2020
The Saudi Arabia Medical Bandages Market is estimated to grow at a CAGR of 5.7% during the forecast period 2019-2026. As per the detailed market study, the regional market was valued $136 million in the year 2018, and is anticipated to reach $213 million by the end of the year 2026.
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Medical bandages are strip or a piece of cloth made up of cotton which is used for wound management in the form of binding a dressing to the wound and to apply a firm pressure to a soft tissue injury. These bandages are used to protect and treat laceration and traumatic wounds and burn wounds. The market is flourished with a wide range of medical bandages such as elastic bandage, adhesive bandages, gauze bandages and cohesive bandages.
The Saudi Arabia medical bandages market is driven by various growth factors such as growth in number of sport injuries, increase in surgical procedures and growth healthcare expenditure. Also, surge in the number of accident cases and rise in demand for medial bandages considering wound management support the market growth over the forecast period. Moreover, rapid rise in geriatric population in Saudi Arabia act as a driving factor considering increase in prevalence of chronic disorders such as atherosclerosis, benign prostatic hyperplasia, prostate cancer and others that require surgical procedures for treatment and usage of medical bandages. Also, increasing awareness related to benefits of the usage of medical bandages contribute to the market growth over the forecast period. Whereas, availability of advanced wound care products such as hydrogel dressing, alginate dressing, silicone dressing and others restraint the market growth over the future period. On the contrary, easy accessibility of healthcare services in the region offer lucrative opportunities for the market players operating in the Saudi Arabia Medical Bandages Market.
Segmentation Overview of the Saudi Arabia Medical Bandages Market
The Saudi Arabia medical bandages is categorized on the basis of various market segments that include product, application and end-user. These market segments are further categorized into various sub-segments to study the market in detail.
The Product Segment of the Saudi Arabia Medical Bandages Market is Sub-Segmented into:
- Elastic bandages
- Cohesive Bandages
- Adhesive Bandages
- Gauze Bandages
The Application Segment of the Saudi Arabia Medical Bandages Market is Sub-Segmented into:
- Sport Injuries
- Traumatic & Laceration Wounds
- Surgical wounds
- Other Wounds
The End-User Segment of the Saudi Arabia Medical Bandages Market is Sub-Segmented into:
- Ambulatory Surgical Centres
Competitive Insights of the Saudi Arabia Medical Bandages Market
Beiersdorf, Nitto Denko Corporation, The 3M Company, The National Medical Products Co., Ltd., (Damad), Smith & Nephew plc, NICHIBAN Co., Ltd., Medtronic plc, Medline Industries, Inc., Dynarex Corporation, Dukal Corporation, DeRoyal Industries, Inc. and Cardinal Health among others are some major players included in the research study of the Saudi Arabia Medical Bandages Market. The market players are adopting various competitive strategies to acquire majority of the market share which include collaboration, product launch, partnership, merger and acquisitions and business expansion among other strategical moves in the Saudi Arabia Medical Bandages Market.
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Keywords: Saudi Arabia Medical Bandages Market