Medical Supplies Market Size, Share, Trends, Opportunities, Growth Analysis and Forecast to 2027
Research Reports
Jan 12, 2022
(USA, NY, New York City) Medical supplies cover a wide range of items, from a basic first-aid pack to advanced medical equipment. Some medical supplies are utilized in medicine administration operations, such as hypodermic devices and inhalation supplies, while sterilization and infection prevention supplies are used to keep healthcare facilities clean. Disposable or one-time-use medical supplies are available.
The global medical supplies market is expected to expand at a CAGR of 4.6%, from USD 132.6 billion in 2020 to USD 133.5 billion in 2025. The expanding prevalence of chronic diseases around the world, rising government and corporate investments in healthcare initiatives and infrastructure development, rising demand for infection control methods to prevent HAIs, and rising demand for medical equipment are all driving this industry forward. Furthermore, the growing elderly population and the rising number of patients with conditions including cardiovascular, renal, diabetes, hypertension, and others are major market drivers in this industry.
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Key Players
Some of the leading players in the medical supplies market are 3M Company (USA), Braun Melsungen AG (Germany). Johnson & Johnson (USA), Baxter International Inc. (USA), Medtronic plc (Ireland), Boston Scientific Corporation (USA), Thermo Fisher Scientific Inc. (USA), and Halyard Health, Inc. (USA)
Segmental Analysis
The segmentation of the medical supplies market is done by the application and by end-users. By application, the market is further categorized into wound care, sterilization, urology, and anesthesia. By end-users, the market is segmented into clinics, nursing homes, and hospitals.
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Detailed Regional Analysis
The global medical supplies market is divided into four regions: North America, Europe, Asia Pacific, and the rest of the world.
The North American medical supplies market is possibly segmented into hospitals, AMCs, trauma centres, and specialty clinics in terms of end-use coverage. The trauma centers market is expected to increase at a startling rate in the approaching years, owing to the fact that these workplaces are fueled by competent personnel and equipped with cutting-edge medical technology. The United States is positioned to become a dynamo for the North American market in terms of regional investment. The growth can be attributed to a larger number of steps taken by government authorities and industry participants to speed up the development and production of products such as gloves and masks.
When compared to the leading countries in the world, Asia-Pacific countries such as China and India are constantly developing their hospital bed density estimates. However, several nations have a significant unmet need for hospital supplies such as sterilisation and disinfection equipment and patient examination instruments, which are essential for limiting the spread of communicable illnesses in the hospital setting. In impoverished countries, it creates a huge demand for medical supplies. The demand for hospital supplies is predicted to rise in Asia-Pacific as a result of developing healthcare infrastructure and increased government initiatives to improve and expand healthcare facilities.
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