Medical Supplies Market is predictable to reach approx. USD 132 Billion by 2022

Pune, India, 2017-Jul-04 — /EPR Network/ —The global medical supplies market has been evaluated as moderately growing market and expected that it will capture larger market share. Globally, medical supplies is observing the  growth due to  rising number of patient activity attributable to an aging population, increasing incidence of medical conditions like hypertension, diabetes, cardiovascular diseases, renal diseases and extension of health insurance coverage . Medical supplies consists disposable products which are also termed as one time usage products.

Based on growing number of patients who need surgery or long-term chronic care therapy, drug delivery and related products will continue to be the fastest expanding group of disposable medical supplies. Polymeric tissue sealants, along with alginate, and collagen wound dressings, will be the fastest growth based on enhanced safety and faster healing attributes. However, existence of substitute products and cost of healthcare containment pressure are some of the major factors hindering the growth for global disposable medical supplies market.

The global market for medical supplies is growing steadily and expected to reach approximately USD 132 Billion by the end of 2022.

Medical Supplies Market Players:

• 3M Company (U.S.),
• Medtronic plc (Ireland),
• Braun Melsungen AG (Germany),
• Boston Scientific Corporation (U.S.),
• Johnson & Johnson (U.S.),
• Thermo Fisher Scientific Inc. (U.S.),
• Baxter International Inc. (U.S.),
• Halyard Health, Inc. (U.S.),
• Dickinson and Company (U.S.),
• Cardinal Health, Inc. (U.S.).

North America dominates the global medical supplies market due to rise in geriatric population and increasing prevalence of chronic diseases. Moreover, Europe is the second largest sector in medical supplies market. On the other hand, Asia Pacific is expected to be the fastest growing region due to increasing medical tourism, rise in number of geriatric population and increasing expenditure in healthcare sector. First aid kits will fare the best among other disposable wound management products, benefiting from trends promoting self-treatment. Advances in less invasive surgery and tissue sealants will weaken the overall US market for traditional suture and staple wound closures.

Regional Analysis:

Depending on geographic region, medical supplies market is segmented into four key regions: Americas, Europe, Asia-Pacific, and Middle East & Africa. Considering the global scenario of the market, North Americas region is believed to be the largest market for medical supplies. Moreover the European market is also growing continuously On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the medical supplies segment during the forecasted period. Middle East & Africa region are likely to have a limited but steady growth in the market.

 Segmentation:

Medical supplies market has been segmented on the basis of type which comprises of infusion products, blood collection tubes, wound care products, dialysis consumables, surgical drapes, adult incontinence products, blood glucose test strips. On the basis of applications, the market is segmented into urology, wound care, anesthesia, sterilization, blood and dialysis and infection and infusion. On the basis of end user, the market is segmented into hospitals, clinics, nursing homes.

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