COVID-19 impact on Medical Supplies Market – Increasing demand of diagnostic supplies for rapid diagnosis

PUNE, India, 2021-Apr-05 — /EPR Network/ — The study involved four major activities in estimating the current size of the COVID-19 impact on Medical Supplies Market, exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research.

According to the new market research report “COVID-19 impact on Medical Supplies Market by Type (Intubations, Personal Protective Equipment, Infusion, Radiology, Wound Care Supplies), End User (Hospitals, Clinics) – Global Forecast” published by MarketsandMarkets™, is expected to reach USD ~100 billion by 2021 from an estimated value of USD ~78 billion in 2019, growing at a CAGR of ~13.4% during the forecast period.

Growth Boosting Factors:

• Growing awareness for environmental & personal hygiene leading to rising demand of disinfectants
• Increasing number of emergency centers, hospital settings and ICUs during the Pandemic
• Increasing need of healthcare workers in hospitals and government camps & surveys
• Increased demand of PPE kits and n95 masks globally
• Increasing demand of ventilation supplies for effective management of critical COVID-19 patients
• Increasing demand of diagnostic supplies for rapid diagnosis of COVID- 19
• Development of specific testing kits for COVID-19

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Geographical Scenario in Depth:

North America accounted for the largest share of the medical supplies market;

The medical supplies industry is segmented into four major regions, namely, North America, Europe, the Asia Pacific (APAC), and Rest of the World. In 2019, North America accounted for the largest share of the medical supplies market. The large share of this region can primarily be attributed to the high adoption of intubation and ventilation supplies, a high number of positive COVID-19 cases and deaths in the US, a strong healthcare system, and the presence of many large hospitals in the region. Moreover, a large number of major global players are based in the US, owing to which the US can easily manufacture these devices.

Leading Key-Players:

The key players in the global medical supplies market are Medtronic plc (Ireland), Cardinal Health, Inc. (US), Becton, Dickson and Company (US), Johnson & Johnson (US), and B. Braun Melsungen AG (Germany), Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (US), STERIS Corporation (US), Getinge Group (Sweden), Advanced Sterilization Products (US), 3M Company (US), Smith & Nephew (U.K.), Mölnlycke Health Care AB (Sweden), among others.

In 2019, the disinfectant segment was dominated by 3M Company(US), Reckitt Benckiser (US), Proctor & Gamble (US), The Colorax Company (US), STERIS Corporation (US). These companies together accounted for a larger share of the global disinfectant market

Medtronic PLC (Ireland) was the key player in the medical supplies market. Medtronic is known for its diversified product offerings in the field of medical supplies. The company’s comprehensive product portfolio includes wound care supplies, medical delivery products, urology catheters, needles and syringes, blood and specimen collection, sharp disposal, diagnostics catheter, dialysis catheter, PPE, incontinence, surgical kits, intubation products. Over the years, the company has maintained its position in the market through continuous innovation and the launch of advanced products. In addition to this, Medtronics focuses on expanding its product portfolio and geographic presence by mergers and acquisitions. In line with this, in October 2019, Medtronic acquired AV Medical (Israel).

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