(PharmaNewsWire.Com, July 23, 2020 ) The increasing prevalence of chronic diseases across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, rising demand for infection control measures to curb the occurrence of HAIs, and the rising demand for medical devices are driving the growth of the global medical supplies market. Moreover, the rising medical tourism and emerging markets are expected to offer significant growth opportunities to players operating in the market in the coming years.
How the Market Growth looks like and Industry Segmentation?
The Global Medical Supplies Market is projected to grow from USD 133.5 billion by 2025 from USD 132.6 billion in 2020, at a CAGR of 4.6%.
By type, the healthcare supplies market is segmented into 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. The intubation & ventilation supplies segment is expected to grow at the highest growth rate during the forecast period. The growth of this segment is driven mainly by the rising prevalence of respiratory diseases such as asthma and COPD across the globe.
The applications market is categorized into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The other applications segment held the largest market share in 2019, due to factors such as the increasing number of surgical procedures, rising prevalence of dental diseases, and the increasing focus on adhering to proper waste disposal methods.
Browse 126 market data Tables and 45 Figures spread through 227 Pages and in-depth TOC - Request Research Sample Pages:
- In 2020, Baxter launched peri-strips dry with secure grip technology for reliable staple line reinforcement in surgical procedures.
- In 2020, Fresenius Medical Care AG & Co. KGaA inaugurated a EUR 30 million expansion of its transfusion and apheresis disposables plant in the Dominican Republic. The new space includes advanced production equipment, plasma kit assembly lines, and sterilization units that double the cleanroom and storage capacity. The site also includes a large warehouse.
- In 2019, Boston Scientific Corporation acquired BTG plc with a focus on offering best-in-class technologies, unparalleled clinical evidence, and strengthened commercial infrastructure.
Key Questions Addressed by the Report:
- What are the various medical supplies and their respective market shares in the overall market?
- Where will these developments shape the industry in the mid-to-long term?
- What are the recent trends affecting the medical supplies market?
- Who are the key players in the market, and how intense is the competition?
The global medical supplies market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest market share, followed by Europe. The increasing incidence of COVID-19 in the US and the implementation of various supportive initiatives by the Canadian Government are the major factors driving the growth of the medical supplies market in North America.
Major Key Players Mapped in Research Report:
The prominent players operating in the global disposable medical supplies market include Medtronic (Ireland), Cardinal Health, Inc. (US), BD (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (US), Baxter International, Inc. (US), Avanos Medical, Inc. (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).
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