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.
Growing awareness of hospital-acquired infections is also boosting the market. This is owing to the presence of various initiative programs for the prevention of hospital-acquired infections is increasing awareness among healthcare professionals and patients. For instance, CDC’s “2007 Guideline for Isolation Precautions: Preventing Transmission of Infectious Agents in Healthcare Settings” addresses all the infections that are expected in a healthcare setting. It provides tools and suggestions to build programs for isolation, when needed, at individual hospitals. In 2004, the WHO has launched a Patient safety program, urging WHO the Member States to pay attention to the problem of patient's safety as a global healthcare issue. The WHO patient safety program aims to coordinate, disseminate, and accelerate improvements in patient safety worldwide. Clean Care is Safer Care (hand hygiene practices), along with Safe Surgery Saves Lives (surgical check-list) are the two best known WHO initiatives, with excellent results overall, in this field.
Technological advancement in the healthcare sector is expected to accelerate the market over the period of forecast. For instance, technological advancements such as specialized operating room tables, Light Emitting Diode (LED) lights for operating rooms, pre-filled syringes, plastic syringes, single-use syringes, and digital thermometers are expected to boost the hospital supplies market’s growth. The use of personalized medicine, telemedicine, 3D printing, Blockchain technology, AI and machine learning, etc. are some of the recent trends in the healthcare sector.
However, the emergence of home care services is restraining the market. For instance, the emergence of several home care services like Medical Social Work Services, Nursing Services, Nutritional Services, etc. are likely to hamper the market growth of hospital supplies over the period of forecast. For instance, according to the National Association for Home Care and Hospice, home care began in the US in the 1880s. According to it, approximately 12 million individuals currently receive care from more than 33,000 providers. In 2009, annual expenditures were projected to be $72.2 billion for home healthcare.
Also, the presence of home care providers will hamper the growth of the market. For instance, Home health agencies like 24 Hour Home Care® offers a variety of services to meet the needs of those who are unable to care for themselves, or who need some assistance with daily routines or getting to doctors' appointments. According to them, by the year 2050, the US population of people over the age of 65 is expected to increase to 88 million. There are more than 2 million home health care workers providing personal care and medical services for clients across the country, and the demand for these services is expected to continue to grow as the population ages.
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 the 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. Thus, due to rising cases of diseases, hospitals, and the healthcare industry are adopting the latest medical technologies incorporated into hospital supplies to treat the patients. Also, various social capital flows to the hospital market by self-establishment, mergers and acquisitions, associates and other forms of joint ventures are some of the significant factors that have led to the expansion of many private hospitals.
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 is 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 industry growth owing to the availability of affordable products.
Increased demand for healthcare and the raised healthcare expenditure is expected to drive the market. For instance, according to Census Bureau data, in 2016, spending on medical devices and in-vitro diagnostics were $173.1 billion, or 5.2 percent of total national health expenditures, medical device spending increased at an average annual rate of 6.1 percent since 1989 when compared to 6.3 percent for overall national health expenditures. According to the National Health Expenditures 2017, the total share of the gross domestic product of health care spending was 17.9 % in 2017.
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.
In May 2017, GE Healthcare signed a deal designed to help hospitals across Egypt to improve healthcare services. Under this agreement, GE will bring 700 units of advanced technologies to more than 200 hospitals and has agreed to complete installation by the end of this year.
In April 2017, Medtronic agreed to sell some of its medical supplies operations to Cardinal Health Inc for US$6.1bn. The services that were sold are the patient recovery and monitoring units and comprised 17 manufacturing operations and 23 product categories like syringes, wound dressings, feeding tubes, and compression machines. On December 19, 2016, the FDA published a final rule banning powdered gloves based on the unreasonable and substantial risk of illness to individuals exposed to the powdered gloves.
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