Liquid bandages are a type of wound dressing products that are sprayed or painted directly on to the wound. Liquid bandages cover the nerves at the site of injury and reduce the pain and promote wound healing by maintaining proper moisture balance. These bandages are an alternative option to traditional bandages and are commonly used when traditional bandages fail at treating the wound. Liquid bandages are colorless, adherent in nature, and dry rapidly to form a tough antiseptic, waterproof, flexible, and breathable layer at the site of wound. Liquid bandages are increasingly being used by many health care providers and people with minor to major wounds.
High prevalence of chronic wounds such as diabetic foot ulcers, pressure ulcers, bed source cases, and increasing number of road traffic accidents across the globe are primary factors that are projected to drive the global liquid bandages market. Moreover, increase in the number of surgical procedures across different medical specialties is estimated to propel the liquid bandages market during the forecast period. Rise in awareness about personal hygiene and surge in demand for liquid bandages due to its advantages such as non-invasive, rapid wound healing etc. are projected to fuel the liquid bandages market during the forecast period.
The global liquid bandages market can be segmented based on type of product, distribution channel, and geography. In terms of product, the global market can be categorized into skin protectants and tissue adhesives. Skin protectants are over the counter (OTC) liquid bandages available in gel and spray forms. These are extensively used to protect cuts and scrapes, calluses, and dry and cracked skin. Skin protectants dry rapidly on application and form a tough waterproof protective layer thus, preventing infection at the site of injury. The skin protectants segment is projected to hold a dominant share of the global liquid bandages market by 2026. The tissue adhesives, also known as suture replacements, are used for the closure of chronic wounds and to join serious skin lacerations. Tissue adhesives are also used to close surgical incision after a surgery and repair cuts to internal organs. The tissue adhesive segment is projected to expand at a considerable CAGR during the forecast period. Based distribution channel, the global liquid bandages market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment is likely to hold a dominant share of the market by 2026.
In terms of region, the global liquid bandages market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to hold a dominant share of the global market owing to the rise in demand for liquid bandages, increase in in the number of bed sore cases in the region and surge in the number of surgical procedures across various domains in health care. Europe is projected to account for a substantial share of the global liquid bandages market during the forecast period. Well established health care facilities, early adoption of technologically advanced products, and increasing use of liquid bandages as a replacement for surgical sutures etc. factors are likely to drive the growth of liquid bandages market in Europe. The market is Asia Pacific is projected to expand at a considerable CAGR during the forecast period owing to rapidly improvements in the health care infrastructure in emerging economies such as China and India, high prevalence of pressure ulcers and diabetic foot ulcers, increasing in the number of road traffic accidents leading to chronic wounds. The market in Middle East & Africa and Latin America is projected to expand at a moderate pace during the forecast period.
The global liquid bandages market is highly consolidated with few manufactures holding prominent share. Key players operating in the global liquid bandages market include 3M, MOBERG PHARMA NORTH AMERICA LLC, ConvaTec Group plc, Medline Industries, Inc., Smith & Nephew plc, Becton, Dickinson and Company, Hollister Incorporated, and The Walgreen Company.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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