Medical Supplies Market – By 2025, Global Industry is Expecting to Grow at CAGR of 4.6%

PUNE, India, 2020-Nov-19 — /EPR Network/ —

The study involved four major activities in estimating the current size of the medical supplies market. Exhaustive secondary research was done to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.

According MarketsandMarkets Research – The Global Medical Supplies Market is projected to grow from USD 133.5 billion by 2025 from USD 132.6 billion in 2020, at a CAGR of 4.6%.

The Key Factors Who will Drives the Market Growth?

• Increasing prevalence of chronic diseases across the globe
• Increasing government and corporate investments in healthcare projects and infrastructure development
• Rising demand for infection control measures to curb the occurrence of hospital-acquired infections
• Increasing number of surgical procedures
• Increasing demand for medical devices

Recent Developments in Medical Supplies Industry:

• In 2020, Baxter launched peri-strips dry with secure grip technology for reliable staple line reinforcement in surgical procedures.
• In 2020, Fresenius Medical Care AG & Co. KGaA inaugurated a EUR 30 million expansion of its transfusion and apheresis disposables plant in the Dominican Republic. The new space includes advanced production equipment, plasma kit assembly lines, and sterilization units that double the cleanroom and storage capacity. The site also includes a large warehouse.
• In 2019, Boston Scientific Corporation acquired BTG plc with a focus on offering best-in-class technologies, unparalleled clinical evidence, and strengthened commercial infrastructure.

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Market Segmentation in Detailed:

Based on type, segmented into diagnostic supplies, infusion & injectable supplies, intubation & ventilation supplies, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies. The intubation & ventilation consumables segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the rising incidence of respiratory diseases, such as asthma and COPD, along with the increasing prevalence of COVID-19 across the globe.

Based on application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The other applications segment held the largest share of the market in 2019, primarily due to the increasing number of surgical procedures, rising prevalence of dental diseases, and the increasing focus on adhering to proper waste disposal methods.

The end-user segment of this market is categorized into hospitals, clinics/physician offices, and other end users. Hospitals form the largest and the fastest-growing end-user segment in the medical supplies market. This can be attributed to the increasing investments in healthcare systems and the high prevalence of infectious and chronic diseases.

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North America, Europe, the Asia Pacific, and the Rest of the World has been covered in this report. In 2019, North America held the largest share of the market, followed by Europe. The rising incidence of chronic diseases, increasing geriatric population, and the increasing prevalence of COVID-19 are the major factors driving the growth of the disposable medical supplies market in North America.

Key Market Players;

The prominent players operating in the emergency medical supplies market include Medtronic (Ireland), Cardinal Health, Inc. (US), BD (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (US), Baxter International, Inc. (US), Avanos Medical, Inc. (US), 3M (US), Smith & Nephew (Ireland), ConvaTec Group Plc. (UK), Abbott (US), Cook Medical (US), Merit Medical Systems (US), Stryker (US), Terumo Corporation (Japan), Teleflex Incorporated (US), Fresenius Medical Care AG & Co. KGaA (Germany), and Coloplast Group (Denmark).

Medtronic plc (Ireland) is one of the leading players in the medical supplies market. The company offers a broad product portfolio across the globe. Over the years, the company has maintained its leading position in the market.