(PharmaNewsWire.Com, June 19, 2021 ) The report “COVID-19 impact on Medical Supplies Market by Type (Intubation, Personal Protective Equipment, Infusion, Radiology, Wound Care Supplies), End User (Hospitals, Clinics) – Global Forecast”, projected to reach USD ~100 billion by 2021 from USD ~78 billion in 2019, at a CAGR of ~13.4%.
The 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 segment is projected to grow at the highest CAGR during the forecast period
Based on products, 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 rate during the forecast period. This can be attributed to the increasing demand for sanitizers and other disinfectants to safeguard people from the cross-contamination of coronavirus.
In 2019, the hospital segment will drive the growth of the medical supplies market
Based on end-users, the medical supplies industry has been segmented into hospitals, clinics, and other end users. The hospital segment accounted for the largest share of the market in 2019 and expected to grow at the highest growth rate during the forecast period. The highest growth of this segment is attributed to the increasing demands for hospital beds and intensive care units, increasing demand for specialized staff in hospitals, increased consumption of personal protective equipment.
The medical supplies industry is segmented into four major regions, namely, North America, Europe, the Asia Pacific (APAC), and Rest of the World. In 2019, North America accounted for the largest share of the medical supplies market. The large share of this region can primarily be attributed to the high adoption of intubation and ventilation supplies, a high number of positive COVID-19 cases and deaths in the US, a strong healthcare system, and the presence of many large hospitals in the region. Moreover, a large number of major global players are based in the US, owing to which the US can easily manufacture these devices.
Global Key Leaders:
The key players in the global 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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