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Aug 09, 2023

Saudi Arabia Medical Bandages Market Industry Performance Predictions and Competitive Landscape Reporting on 6

The Saudi Arabia medical bandages market accounted for $136 million in 2018, and is expected to reach $213 million by 2026, registering a CAGR of 5.7% from 2019 to 2026. Furthermore, there are

The Saudi Arabia medical bandages market accounted for $136 million in 2018, and is expected to reach $213 million by 2026, registering a CAGR of 5.7% from 2019 to 2026.Furthermore, there are different types of medical bandages available in the market such as cohesive bandages, gauze bandages, adhesive bandages, and elastic bandage. These bandages are employed to attain various benefits such as cohesive bandages stick to themselves to provide compression. In addition, these bandages can be removed easily without causing the pain of waxing hair. Similarly, gauze bandages are mainly used to isolate the wound after disinfection.

Medical bandages are defined as a strip or piece of cloth made using different materials such as cotton, and is used in management of a wound. Furthermore, a bandage is used to bind a dressing to the wound. In addition, medical bandages are also employed for application of firm pressure to a soft tissue injury. Some areas of medicine where medical bandages are used include surgeries, sport injuries, ulcer wounds, and elastic bandage. Moreover, medical bandages are also used to treat and protect traumatic & laceration wounds and burn wounds.

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The major factor that contributes toward the growth of the medical bandages market include surge in number of sport injuries. Furthermore, other factors such as rise in number of surgical procedures and increase in healthcare expenditure fuel the growth of the market. Moreover, rise in demand for medical bandages and surge in the number of accident cases contributes toward the growth of the market. In addition, there has been a rapid rise in geriatric population in Saudi Arabia, which leads to surge in prevalence of chronic disorders such as prostate cancer, benign prostatic hyperplasia, atherosclerosis, and others. Furthermore, these chronic conditions require surgical procedures for treatment, which in turn require the use of medical bandages. Thus, surge in geriatric population is a major factor that fuels the growth of the medical bandages market in Saudi Arabia

In addition, rise in the adoption of medical bandages due to surge in awareness related to the benefits associated with their use also contribute to the growth of the market. However, availability of advanced wound care products restricts the Saudi Arabia medical bandages market growth. In contradiction, better access to healthcare services in the country is expected to exhibit lucrative opportunities for the medical bandage market in future.

The medical bandages market is segmented on the basis of product, application, and end user to provide a detailed assessment of the market. By product, the market is divided into gauze bandage, adhesive bandage, cohesive bandages and elastic bandage. By application, it is classified into surgical wounds, traumatic & laceration wounds, burns, ulcers, sport injuries and other wounds. By end user, the medical bandage market size is studied for hospitals, clinics, and ambulatory surgical centers.

The healthcare sector is vital to both national economies and people all across the world. One of the industries with the fastest growth rates is this one. There is a correlation between income levels and healthcare spending across nations because healthcare spending accounts for more than 10% of the GDP of the majority of developed countries. According to the Centers for Medicare and Medicaid Services, US healthcare spending increased by 4.6% in 2019 to reach US$ 3.8 trillion, or US$ 11,582 per person and represented 17.7% of GDP. Additionally, households paid for 28.4% of all health expenditures, followed by the federal government for 29.0%. 16.1% of all healthcare costs were paid for by state and municipal governments, while 7.5% came from other private sources.

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Due to advancements spurred by AI/ML, the impact of digital health technology will grow. Data from the Department for Promotion of Industry and Internal Trade show that FDI in the medicines and medication sector totaled US$19.12 billion (DPIIT).

KEY BENEFITS FOR STAKEHOLDERS– This report entails a detailed quantitative analysis along with the current medical bandages market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.– The market size and estimations are based on a comprehensive analysis of key developments in the industry.– A qualitative analysis based on innovative products facilitates strategic business planning.– The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market

List of key players profiled in the report– Cardinal Health.– DeRoyal Industries, Inc.– Dukal Corporation– Dynarex Corporation.– Medline Industries, Inc.– Medtronic plc.– NICHIBAN Co., Ltd.– Smith & Nephew plc– The National Medical Products Co., Ltd., (Damad)– The 3M Company– Nitto Denko Corporation– Beiersdorf

Key Market Segments– By Producto Gauze bandageo Adhesive Bandageo Cohesive Bandageso Elastic bandage

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– By Applicationo Surgical woundso Traumatic & Laceration Woundso Burnso Ulcerso Sport Injurieso Other Wounds

– By End Usero Hospitalso Clinicso Ambulatory Surgical Centers

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