(PharmaNewsWire.Com, September 12, 2019 ) Market Overview • Hospital supplies refer to the equipment and medical devices used in the field like hospitals, healthcare centers, and private clinics. Hospital also supplies safety enhanced devices along with medical lasers, endoscopes, diagnostic equipment, and dental equipment. In recent times, the incorporation of technology into medical devices, the latest medical technologies, and better diagnostic techniques are expected to accelerate the demand in the global hospital supplies market.
Market Dynamics • global hospital supplies market growth is driven by the increasing incidences of communal and inflammatory diseases like sexually transmitted diseases and pneumococcal diseases, rising public awareness about hospital-acquired infections, high demand for hospital supplies in developing countries, technological advancements in the healthcare sector. • Increasing incidences of communal and inflammatory diseases like sexually transmitted diseases and pneumococcal diseases are expected to drive the market over the period of forecast. For instance, sexually transmitted diseases (STD's) are considered as one of the most critical health challenges globally. STDs usually include more than 25-30 infectious diseases that are generally transmitted by sexual activities. According to WHO, in 2015, about 1.1 billion people had STIs other than HIV/AIDS. It is estimated that by 2019, more than 1 million sexually transmitted infections (STIs) will be acquired every day. Every year, there are an estimated 376 million new infections with 1 of 4 STIs like chlamydia, gonorrhea, syphilis, and trichomoniasis. Thus, growing incidences of STI's is boosting the global hospital supplies market. • Pneumococcal infection is a significant cause of morbidity and mortality globally. According to the WHO, pneumonia killed over 920,000 children in 2015 and accounted for about 16% of the total deaths of children under five years old. Pneumonia can be caused by several different bacteria, viruses, and fungi. However, it is estimated that Streptococcus pneumonia bacteria cause at least two-thirds of all cases of bacterial pneumonia. Most of the deaths occurred in developing countries and included a disproportionate number of children under the age of two years.
Market Segmentation • Based on type, the global hospital supplies market is segmented into disposable hospital supplies, patient examination devices, operating room equipment, sterilization and disinfectant equipment, mobility aids and transportation equipment, syringes and needles, and others. • The disposable segment is expected to propel the market over the period of forecast. The disposable hospital supplies are the one-time use products, such as consumables, medical apparatus, and disposable devices, which are consumed in large numbers across all hospitals. Products such as exam gowns, suction catheters, bandages and wraps, surgical sponges, gloves, face masks, hypodermic needles, needles, and others, are in continuous use to all the hospital professionals from the cleaning to the surgical theaters, as well as administrative departments in some cases. Thus, the constant growth in the adoption of these devices is owing to the rising concern of safety and cleanliness against the hospital-acquired infections, as well as to maintain hygiene across the hospitals. • Based on application, the global hospital supplies market is segmented into hospitals, clinics, and others. • The hospital's segment is expected to drive the global hospital supplies market over the period of forecast. This is attributable to the increased number of hospitals, growing prevalence of lifestyle-based diseases like hypertension, obesity, diabetes, and raised demand for various diagnostic options.
Geographical Analysis • North America is dominating the global hospital supplies market in 2018 and estimated to hold largest market size over the forecast period (2019-2026) owing to the high focus on the cost-effective and innovative procedures adopted in the US, rising incidence of inflammatory and hospital-acquired infections, increasing prevalence for lifestyle-based diseases such as cardiovascular diseases, diabetes, hypertension, and obesity in the region, and rising geriatric population at an unprecedented rate. • Rising incidence of hospital-acquired infections, inflammatory diseases, and the growing awareness about them is expected to boost the market. For instance, in American hospitals alone, the CDC has reported that HAIs accounts for about 1.7 million infections and 99,000 deaths every year. Of these infections, 32 % of all healthcare-acquired infection are urinary tract infections, 22 % are surgical site infections, 15 % are pneumonia (lung infections), and 14 % are bloodstream infections. The CDC estimates that there are around 20 million new sexually transmitted infections each year. The cost of STDs to the U.S. health care system is estimated to be as much as $16 billion annually in 2008. • The presence of government initiatives in the prevention of HAIs is expected to drive the market. For instance, The American Recovery and Reinvestment Act of 2009, was signed into law on February 17, 2009. Within the Recovery Act, $50 million was authorized to support the states in the prevention and reduction of HAIs. Many of the funds are being used to support activities outlined in the HHS Action Plan to Prevent Health Care-Associated Infections. • The presence of significant players in the region are expected to drive the market. For instance, American Hospital Supply Corp., 3M Health Care Ltd, Cardinal Health Inc, McKesson Corp, Stryker, and Medtronic are some of the hospital supplies manufacturers prevailing in the region. Thus, it is expected to stimulate the industry growth owing to availability of affordable products.
Competitive Landscape • Some of the key players in the global hospital supplies market are Thermo Fisher Scientific, Johnson & Johnson, GE Healthcare, Medtronic, Cardinal Health, Boston Scientific Corporation, Becton Dickinson and Company, Baxter International, 3M Healthcare and others. • The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, which are contributing to the growth of the hospital supplies market globally. For instance, • On August 13, 2019, The FDA has approved chemistry, manufacturing and controls prior-approval supplement for the Regeneron’s Eylea injection prefilled syringe. • On January 31, 2018, Biomaterials and medical device company Aleo BME has received US FDA approval for the sale, as well as licensing of ElaSkinTM as a liquid bandage for the treatment and protection and treatment of a broad set of skin conditions and injuries.
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