Market Analysis
The global Medical Supplies Market Report size was valued at USD 8.4 billion in 2021 and is projected to grow from USD 8.78 Billion in 2022 to USD 12.03 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 4.6% during the forecast period (2022 - 2030) 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 Outlook and Analysis. 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.
Key Players
The Profiled in the Medical Supplies Market Players 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.
Market Segmentation
The Market Research Future report provides a wide segmental analysis of the Medical Supplies Market Research 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.
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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