(PharmaNewsWire.Com, May 06, 2020 ) MarketsandMarkets™ published a report titled, "COVID-19 impact on Medical Supplies Market by Type (Intubation, Personal Protective Equipment, Infusion, Radiology, Wound Care Supplies), End User (Hospitals, Clinics) - Global Forecast", Based on their findings, the COVID-19 impact on Medical Supplies Market size is projected to reach USD 100 billion, at a CAGR of 13.4%
Growing awareness regarding environmental & personal hygiene leading to rising demand for disinfectants, an increasing number of emergency centers; hospital settings and ICUs during the Pandemic, increasing need of healthcare workers in hospitals and government camps & surveys, increased demand of PPE kits and n95 masks globally, growing demand for ventilation supplies for effective management of critical COVID-19 patients, and rising demand of diagnostic supplies for rapid diagnosis of COVID-19 are the major factors driving the growth of this market.
The disinfectant type segment is expected to grow at the highest CAGR during the forecast period
Based on type, the medical supplies market is segmented into intubation and ventilation supplies, disinfectant, personal protective equipment, diagnostic supplies, sterilization supplies, infusion and injectable supplies, dialysis supplies, wound care supplies, radiology supplies, and other medical supplies. The disinfectant segment is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to factors such as the increasing demand for hand sanitizers, rising awareness about personal hygiene, increased consumption of disinfectant in healthcare facilities are driving the growth of the disinfectant market globally.
The hospitals end user segment is expected to grow at the highest CAGR during the forecast period
Based on end users, the market is segmented into hospitals, clinics, and other end-users. The hospital segment is expected to grow at the highest CAGR owing to increasing demand for hospital beds and intensive care units in countries with the increasing incidence of COVID-19, increasing demand for specialized staff such as infectious disease experts providers, respiratory therapists, and physicians and nurses who can provide intensive and critical care, increased consumption of personnel protective equipment within the hospital premises; and the increasing support from government and non-government organization to combat with COVID-19 are the major factors driving the demand and uptake of medical supplies in hospitals growth.
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North America accounted for the largest market share in 2020
North America accounted for the largest share of the medical supplies market in 2020, followed by Europe. The large share of this region is attributed mainly to a high number of positive COVID-19 cases and deaths in the US, a strong healthcare system, and the presence of many large hospitals. Moreover, a large number of major global players are based in the US, owing to which the US can easily manufacture these devices.
The prominent players in the medical supplies market are Medtronic plc (Ireland), Cardinal Health, Inc. (US), Becton, Dickson and Company (US), Johnson & Johnson (US), and B. Braun Melsungen AG (Germany), Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (US), STERIS Corporation (US), Getinge Group (Sweden), Advanced Sterilization Products (US), 3M Company (US), Smith & Nephew (U.K.), Mölnlycke Health Care AB (Sweden), among others.
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