In an effort to capture this segment, manufacturers have created products that incorporate graphics or eye-catching design such as stickers, tattoos, holograms, glitter and color-changing bandages.
New analysis from Frost & Sullivan (medicaldevices.frost.com), U.S. Adhesive Bandages Market, finds that the market earned revenues of $739.7 million in 2006 and estimates this to reach $910.6 million in 2013.
If you are interested in a virtual brochure, which provides manufacturers, end users, and other industry participants with an overview of the U.S. Adhesive Bandages Markets, then send an email to Melina Trevino, Corporate Communications, at mtrevino_pr[.]frost.com, with your full name, company name, title, telephone number, fax number, and email address. Upon receipt of the above information, an overview will be sent to you by email.
In order to revitalize the U.S. adhesive bandages market, manufacturers often create new product designs, repackage the product or incorporate new materials to differentiate themselves in the market. Profitability in the consumer marketplace is closely tied to managing production costs, new product introduction and effective promotions. New products increase revenues initially, but taper off after a few years. Consequently, manufacturers continue to search for new ways to attract consumers' attention and differentiate their products.
"Buyers of general use, low-end adhesive bandages are the most price conscientious, often choosing the least expensive brand available," notes Frost & Sullivan Research Analyst Sheila Ewing. "Due to this, the popularity of less expensive private label brands has dramatically increased and most first aid kits include low-end bandages."
Medical and occupational buyers of adhesive bandages are also price sensitive and often buy in large quantities to reduce costs. In contrast, consumers of advanced, high-end adhesive bandages generally do not worry about price and are more willing to pay higher prices to receive additional benefits from advanced adhesive bandages. The consumers of licensed bandages usually come by way of adults purchasing the products for their children.
However, national brands face considerable competition from private label products. To compete with national brands, private label manufacturers of adhesive bandages have created a niche market by developing lower-priced bandages for sale in drug stores, grocery stores and mass merchandisers. These lower-priced alternatives to national brand bandages compete almost exclusively for the low-end adhesive bandage market.
"The distinction between private labels' control of the low-end market and national brands' penetration of the high-end market expects to become more obvious during the forecast period," says Ewing. "As a result, national brand manufacturers have focused their efforts on higher-priced, advanced lines of bandages. At this price point, brand recognition, patents and experience in product development and marketing provide an advantage over private label products."
National brands should continue to distinguish their advanced lines through targeted campaigns at both consumers and physicians. Multiple formats of educational material, such as continued medical education programs, product demonstrations, conferences, and online video promotions, will not only provide valuable product knowledge to consumers and physicians, but also help increase market acceptance and penetration.
U.S. Adhesive Bandages Market, is part of the Medical Devices Growth Partnership Service program, which also includes research in the following markets: U.S. Topical Hemostats and Tissue Sealants Markets, U.S. Interactive Wound Care Markets, U.S. Antimicrobial Dressings Markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting, and Career Best Practices empower clients to create a growth focused culture that generates, evaluates, and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 30 offices on six continents.
U.S. Adhesive Bandages Markets