(PharmaNewsWire.Com, December 02, 2020 ) According to the new market research report "Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Disinfectants, PPE, Radiology, Sterilization, Catheters), Application (Urology, Cardiology, Infection Control), End User (Hospitals, Clinics & Physician Offices) - Global Forecast" published by MarketsandMarkets™.
Revenue Growth Opportunities and Growth Drivers?
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%.
Growth Boosting Factors:
- 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 hospital-acquired infections - Increasing number of surgical procedures - Increasing demand for medical devices
The prominent players operating in the 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).
Geographical Regions Mapped in Report:
The medical supplies market in North America, Europe, the Asia Pacific, and the Rest of the World has been covered in this report. In 2019, North America held the largest share of the market, followed by Europe. The rising incidence of chronic diseases, increasing geriatric population, and the increasing prevalence of COVID-19 are the major factors driving the growth of the medical supplies market in North America.
Based on type, 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 consumables segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the rising incidence of respiratory diseases, such as asthma and COPD, along with the increasing prevalence of COVID-19 across the globe.
Based on application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The other applications segment held the largest share of the market in 2019, primarily due to the increasing number of surgical procedures, rising prevalence of dental diseases, and the increasing focus on adhering to proper waste disposal methods
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