Medical Disposables Market to be worth US$ 326 Billion by 2033, at a CAGR of 7.1% | Reveals Future Market Insights

Posted on 2024-06-11 by Future Market Insights in Healthcare, Pharmaceuticals // 0 Comments

Medical Disposables Market

The Medical Disposables Market revenues were estimated at US$ 153.5 Billion in 2022 and is anticipated to grow at a CAGR of 7.1% from 2023-2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 326 Billion. Bandages and Wound Dressings commanded the largest revenue share in 2022 and are expected to register a CAGR of 6.8% from 2023 to 2033.

The rising incidence of Hospital Acquired Infections, an increasing number of surgical procedures, and the growing prevalence of chronic diseases leading to longer hospital admissions have been the key factors driving the market.

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The subsequent spike in the number of chronic illness cases and a rise in the rate of hospitalizations has fueled the field of emergency medical disposables growth. The expansion of the medical disposables market is being fueled by an increase in the prevalence of hospital-acquired illnesses and disorders, as well as a greater focus on infection prevention. For example, the prevalence of healthcare-associated infection in high-income countries ranges from 3.5% to 12%, whereas it ranges from 5.7% to 19.1% in low and medium-income countries.

A growing geriatric population, an increase in the incidence of incontinence issues, mandatory guidelines that must be followed for patient safety at healthcare institutions, and an increase in demand for sophisticated healthcare facilities are driving the medical disposables market.

The market in North America is expected to reach a valuation of US$ 131 Billion by 2033 from US$ 61.7 Billion in 2022. In August 2000, the Food and Drug Administration (FDA) issued guidance concerning healthcare single-use items reprocessed by third parties or hospitals. In this guidance, FDA stated that hospitals or third-party reprocessors would be considered manufacturers and regulated in the same manner. A newly used single-use device still has to fulfill the criteria for device activation required by its flagship when it was originally manufactured. Such regulations have been creating a positive impact on the medical disposables market in the U.S. market in particular and the North American market in general.

Competitive Landscape

The key companies in the market are engaged in mergers, acquisitions, and partnerships.

The key players in the market include 3M, Johnson & Johnson Services, Inc., Abbott, Becton, Dickinson & Company, Medtronic, B. Braun Melsungen AG, Bayer AG, Smith and Nephew, Medline Industries, Inc., and Cardinal Health.

Some of the recent developments of key Medical Disposables providers are as follows:

In April 2019, Smith & Nephew PLC purchased Osiris Therapeutics, Inc. to expand its advanced wound management product range.
In May 2019, 3M announced the acquisition of Acelity Inc., to strengthen wound treatment products.

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More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Medical Disposables Market, presenting historical market data (2018-2022) and forecast statistics from 2023 through 2033.

The study reveals essential insights by Product (Surgical Instruments & Supplies, Infusion, and Hypodermic Devices, Diagnostic & Laboratory Disposables, Bandages and Would Dressings, Sterilization Supplies, Respiratory Devices, Dialysis Disposables, Medical & Laboratory Gloves), by Raw Material (Plastic Resin, Nonwoven Material, Rubber, Metal, Glass, Others), by End-use (Hospitals, Home Healthcare, Outpatient/Primary Care Facilities, Other End-use) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

Market Segments Covered in Medical Disposables Industry Analysis

By Raw Material:

Plastic Resin
Nonwoven Material
Rubber
Metals
Glass
Other Raw Materials

By End-use:

Hospitals
Home Healthcare
Outpatient/Primary Care Facilities
Other End-uses

By Region:

North America
Latin America
Europe
APAC
MEA

Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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