The global medical supplies market accounted for a value of USD 120.7 billion in 2019 and is projected to register growth at a CAGR of 3.5% during forecast period.
COVID-19 has impacted the medical supplies market. The number of corona virus cases is increasing exponentially. The healthcare facilities across the world are facing shortage of hospital beds, ventilators, safety gears and other medical instrument. The industries are extensively working to fulfill the demand for these medical supplies. The manufacturing units were operation during lockdown and the market for medical supplies is likely to foresee growth due to COVID-19.
For more details, visit: Global Medical Supplies Market By Type (PPE, Dialysis Consumables, Others), By Application (Urology, Infection Control, Others), By End-Users (Hospitals, Clinics, Others), By Region, Forecast & Opportunities to 2026
The incidence of diseases is increasing across the world. This increases the demand for medical supplies in order to treat the patients. The geriatric population is increasing in the world which increases various diseases such as high BP and other cardiovascular diseases. This results in high consumption of different devices and instrument in healthcare facilities. Thus, dives growth in medical supplies market during forecast period.
On the basis of type, the medical supplies market is segmented into disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, intubation & ventilation supplies, infusion & injectable supplies, diagnostic supplies and others. The catheters segment dominated the market in 2019. However, the intubation & ventilation supplies segment is estimated to grow at highest CAGR during forecast period. The cases of respiratory diseases such COPD and asthma are increasing immensely around the world. The aging population is increasing around the world and the respiratory diseases are common among aging population. The cases of corona virus are also rapidly increasing which increases the demand for intubation & ventilation supplies in the market. This drives growth in intubation & ventilation supplies segment during forecast period.
On the basis of end-users, the medical supplies market is segmented into hospitals, clinics/physician offices and others. The hospitals segment is estimated to hold largest market share during forecast period. The people prefer hospitals for diagnosis of serious issues over clinics. The number of hospitals is increasing and healthcare infrastructure is developing around the world and this increases the adoption of advanced medical supplies in the hospitals. Thus, drives growth in hospitals segment during forecast period.
On the basis of application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, cardiology, infection control, IVD and others. The other application segment accounted for largest market share in 2019. The number of surgical procedures is increasing along with the dental diseases around the world. The manufactures are focusing on following the proper waste disposal methods to ensure minimum waste. These are the factors responsible for highest market growth.
North America region accounted for largest market share in 2019 and it is estimated to maintain its dominance during the forecast period. The incidence of chronic diseases is increasing in this region as the geriatric population is increasing immensely in this region. The exponentially increasing number of corona virus cases results in high demand for various supplies such as PPE kits, ventilators, beds and gloves etc. This drives growth in North America region during forecast period.
The key market players in medical supplies sector are Medtronic, Cardinal Health Inc., BD, Johnson & Johnson, B. Braun Melsungen AG, Boston Scientific Corporation, Thermo Fisher Scientific inc., Baxter International, Avanos Medical Inc., 3M, Smith & Nephew,Convatec Group Plc., Abbott, Cook medical, Merit Medical Systems, Stryker, Terumo Corporation, Teleflex Incorporated and Fresenius medical Care.
- What are the expected industry trends over the next three to five years?
- Which of the medical supplies type is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
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- What are different organic and inorganic strategies implemented by companies to gain increased market share?