Medical supplies market by type ( Diagnostic, Disinfectant, Personal Protective Equipment’s infusion & injectable supplies, intubation & ventilation supplies, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies), application(Urology, Wound Care, Radiology, Respiratory, Infection Control, Cardiology, IVD) and end-users (hospital, clinicians office, others).
Global Medical Supplies market size revenue to reach $140.1 billion by 2027, growing with a CAGR of 4.6% during the forecast period of 2020 to 2027.
Medical supplies are used in healthcare settings for the diagnosis and treatment of patients. The increasing number of patients and hospitals are pushing the demand for medical supplies. Key factors for rising demand of the medical supplies are growing elderly population, chronic disease cases, dialysis procedures, cases of diabetes and renal diseases. High incidence of uncertain large and small disorders that are caused by ecological changes, accidents and injuries are creating greater worldwide demand for the product market. The rising number of surgeries drives the demand for surgical gowns, gloves, drapes, feeding tubes, procedure kits and trays, which constitute the medical supplies market.
COVID-19, Zika, Ebola, and others have forced the need for more ventilators, masks, gloves, and others. As stated by WHO, 15% of total patients in hospitals suffer from hospital-acquired viral, bacterial and fungal infections. For prevention of prevalence of hospital-acquired diseases use of sterile and disposable procedure kits, medical devices, gloves bodes well for the product market. Safety-enhanced devices used for minimal invasive delivery of medicines, inhalation therapies are likely to see higher adoption with the onset of the coronavirus. The worldwide medical supplies market expected to reach 132billion US dollars by 2022.
Other key drivers of the product market are improving economic conditions, increasing access to good health care, a wide range of healthcare materials, hygiene awareness programs in various regions have to lead to greater acceptance of medical supplies by physicians and other medical professionals. Initiatives like glove awareness week in London, to raise awareness of the appropriate use of medical supplies to prevent skin-related health issues in nursing staff have also created waves of acceptance of the product. Additionally, medical supply products reduce the burden of work and increase the efficiency of workflow. Better healthcare standards will also add to the flourishing medical supplies market over the upcoming years.
Medical Supplies Market Segmentation Analysis
Medical Supplies Market is segmented by diagnostic supplies ( infusion & injectable supplies, intubation & ventilation supplies, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies) application(Urology, Wound Care, Radiology, Respiratory, Infection Control, Cardiology, IVD) and end-users (hospital, clinician office, others).
Medical Supplies Market Regional Analysis
The increasing presence of chronic diseases around the world and the continuing need for infection control are some of the growth drivers in the global medical supplies market. Governments and corporations are increasingly investing in healthcare, driving the growth up further. These factors will see the industry grow to about $133.5 billion by 2025. Currently, North America is the largest market for medical supplies, with Europe following closely. Other regions such as the Asia-Pacific and the Rest of the World are expected to grow steadily in the forecast years. The market is controlled by players such as Johnson & Johnson, Baxter International, Merit Medical Systems, Smith & Nephew, Avanos Medical Inc. and Fresenius Medical Care AG & Co.
Medical Supplies Market Competition
Key companies operating in this industry are Medtronic (Ireland), Cardinal Health, Inc. (US), BD (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (the US), Baxter International, Inc. (US), Avanos Medical, Inc. (the US), 3M (US), Smith & Nephew (Ireland), ConvaTec Group Plc. (UK), Abbott (US), Cook Medical (US), Merit Medical Systems (US), Stryker (US), Terumo Corporation (Japan), Teleflex Incorporated (US), Fresenius Medical Care AG & Co. KGaA (Germany), and Coloplast Group (Denmark).
Personal Protective Equipment
Sleep Apnea Consumables
Other Medical Supplies
Country Analysis (Revenue, USD Million, 2020 - 2027)
Medical SuppliesMarket Companies
United States Medical Supplies Industry Research Report
Europe Medical Supplies Industry Research Report
Asia Pacific Medical Supplies Industry Research Report
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