Medical Supplies Market worth $133.5 billion by 2025 – Medtronic (Ireland) and Cardinal Health, Inc. (US) are Leading Key Players

PUNE, India, 2021-May-24 — /EPR Network/ — The report “Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Disinfectants, PPE, Radiology, Sterilization, Catheters), Application (Urology, Cardiology, Infection Control), End User (Hospitals, Clinics & Physician Offices) – Global Forecast to 2025″, 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 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 HAIs, and the rising demand for medical devices are driving the growth of the global medical supplies market. Moreover, the rising medical tourism and emerging markets are expected to offer significant growth opportunities to players operating in market coming years.

Market Size Estimation;

Both top-down and bottom-up approaches were used to estimate and validate the total size of the medical supplies market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:

– The key players in the industry and market have been identified through extensive secondary research.

– The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.

– All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

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Hospitals accounted for the largest share of the medical supplies market.

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 market. This can be attributed to the increasing investments in healthcare systems and the high prevalence of infectious and chronic diseases.

Geographical View in-detailed:

The global medical supplies market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest market share, followed by Europe. The increasing incidence of COVID-19 in the US and the implementation of various supportive initiatives by the Canadian Government are the major factors driving the growth of the market in North America.

Global Key Leaders:

The prominent players operating in the 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).

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Medtronic (US) is among the leaders in the global medical supplies market. The company has a strong medical disposables and consumables portfolio that includes wound care consumables (bandages, dressings, sponges, medical tapes, and adhesives), medication delivery disposables (needles, syringes, and cannulas), urology disposables (drainage bags and catheters), and blood and specimen collection consumables (collection syringes & needles and containers), among other products. The company focuses on organic growth strategies such as product launches and approvals to enhance its product portfolio. For instance, in February 2018, Medtronic plc launched the MiniMed Mio Advance infusion set.

Cardinal Health (US) is another leading player in the market. The company has a wide product portfolio, including infection control products (surgical drapes and gowns, surgical and procedural masks, infection control apparels, antiseptics, and housekeeping supplies, among other products), patient care consumables (conventional needles and syringes, prefilled syringes, and ice bags, among other products), and wound management products (bandages, pads, sponges, bathing wipes, medical and surgical tapes, and wound closure products), among other products. Over the last few years, the company made some strategic acquisitions to leverage the growth opportunities in the medical supplies market. For instance, in July 2017, Cardinal Health, Inc. acquired Medtronic’s Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency business for USD 6.1 billion. This acquisition has helped Cardinal Health to provide around 23 product categories across multiple market sites, including numerous industry-leading brands such as Curity, Kendall, Dover, Argyle, and Kangaroo (brands used in nearly every US hospital).