Medical Supplies Market 2022 Business Opportunities, Sales, Regional Analysis 2028
Market Analysis
The global medical supplies market is
predicted to touch USD 132 billion at a notable CAGR over the forecast period
(2017-2022), as per the latest Market Research Future (MRFR) report. Medical
supplies, simply put, is another term for medical equipment. It is of various
types including consumable medical supplies or disposable supplies, life-saving
equipment, electronic supplies, diabetic supplies, home healthcare supplies,
surgical supplies, acute care supplies, durable medical equipment, diagnostic
and stats medical supplies & equipment, and many more. Every variety has
distinct features and characteristics which aid them in performing the task
that they are intended for. Medical supplies comprise of disposable or
single-use products that are used in every healthcare facility, including
nursing homes, clinics, and hospitals. It is categorized resting on its use and
applications.
Various factors are propelling the Medical Supplies Market. These factors, according to the latest MRFR
report, include rising geriatric population, rising incidences of different
diseases, increasing number of surgeries, rising patient pool for renal
diseases, and growing incidence of hypertension and diabetes. Additional
factors pushing market growth include the growing use of dialysis procedures,
availability of more effective and technologically advanced products,
increasing investments in the healthcare sector, increase in surgery rates,
increasing adoption of new surgical procedures, and growing awareness about
preventative care.
Market Segmentation
The Market Research Future report
provides a wide segmental analysis of the stats
medical supplies & equipment based on type, application, and end user.
Based on type, the medical supplies market is segmented into
adult continence products, blood glucose test strips, surgical drapes, dialysis
consumables, wound care products, blood collection tubes, infusion products, medical supplies hospital trash bags, transporting medical supplies, and
others. Of these, the dialysis consumables segment will have the largest share
in the market over the forecast period. It is predicted to grow at the highest
CAGR owing to rising adoption of dialysis procedures, growing geriatric
population, rising incidence of hypertension and diabetes, and rising patient
pool for renal diseases.
Based on application, the medical supplies market is segmented into
anesthesia, sterilization, wound care, and others. Of these, the anesthesia
segment will dominate the market over the forecast period. This is owing to the
rising cases of respiratory diseases and the rising number of surgical
procedures being performed across the world.
Based on end user, the medical supplies market is segmented into
nursing homes, clinics, hospitals, and others. Of these, the hospitals segment
will lead the market over the forecast period. This is owing to the rising
incidences of chronic diseases worldwide, rising prevalence of HAIs, and rising
investment in healthcare systems.
Key Players
Leading players profiled in the
medical supplies market report include Thermo Fisher Scientific Inc. (US),
Halyard Health, Inc. (US), Baxter International Inc. (US), Boston Scientific
Corporation (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany),
3M Company (US), and Medtronic plc (Ireland), among others.
Regional Analysis
Based on the region, the medical
supplies market report covers the latest trends and growth opportunities across
the Asia Pacific, North America, Europe, and the Rest of the World. Of these,
North America will spearhead the market over the forecast period. This is owing
to the wide accessibility of healthcare products and healthcare services in the
region. Besides, the rising emphasis on offering cost-competitive supplies and
increasing uptake of advanced technologies are also boosting the market
growth.
The medical supplies market in Europe
is predicted to have the second-largest share in the market over the forecast
period. This is owing to the region’s improving economic conditions, rising
healthcare expenditure, the presence of several key players, and the adoption
of advanced technologies.
The medical supplies market in the
APAC region is predicted to grow at the fastest pace over the forecast period.
This is owing to the developed economy in the region and the rapidly
proliferating healthcare industry. India, China, as well as Japan, are the key
contributors in this region.
February 2019: Momina Krepost AD (Bulgaria), a renowned local
medical supplies company has acquired Sopharma AD (Bulgaria), top drug
manufacturer and supplier of disposable medical goods.
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