Medical Disposables Market Revenue To Surge Beyond $90 Billion by 2030 says P&S Intelligence

NEW YORK, July 12, 2021 /PRNewswire/ -- According to the market research firm P&S Intelligence, global market for medical disposables is forecasted to generate revenue around $90 billion by 2030. The surging geriatric population, increasing incidence of chronic diseases, soaring occurrence of hospital-acquired infections (HAIs), and mushrooming healthcare expenditure are the major factors fueling the expansion of the global medical disposables market.

The COVID-19 pandemic has augmented the demand for disposable medical supplies. This is ascribed to the growing usage of single-use syringes, gowns, needles, and surgical face masks by healthcare professionals and general citizens, on account of the fact that these items provide protection from communicable diseases such as the COVID-19 infection. Moreover, the enactment of guidelines, that mandate the use of face masks across the world, by the World Health Organization (WHO) is also fueling the demand for personal protective equipment (PPE), thereby driving the advancement of the medical disposables market.

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Depending on type, the medical disposables market is classified into blood collection consumables, glucose monitoring strips, diagnostic catheters, radiology consumables, dialysis consumables, smart syringes, infusion products, prefilled syringes, hypodermic products, intubation & ventilation supplies, nonwoven medical supplies, sterilization consumables, incontinence products, wound care consumables, surgical nonwoven products, infection management products, negative pressure wound therapy (NPWT) devices, and exudate management products. Out of these, the nonwoven medical supplies category dominated the medical disposables market in 2020, and it is predicted to retain its dominance in the forthcoming years as well.

The medical disposables market is also divided, on the basis of application, into cerebrovascular, cardiovascular, gynecology, ophthalmology, orthopedics, and urology categories. Out of these, the cardiovascular category dominated the market in 2020, due to the surge in the incidence of cardiovascular diseases around the world. According to the WHO, these diseases are responsible for the deaths of 18 million people every year.

Browse detailed report with COVID-19 impact analysis on Medical Disposables Market Research Report: By Type (Glucose Monitoring Strips, Blood Collection Consumables, Diagnostic Catheters, Dialysis Consumables, Radiology Consumables, Infusion Products, Smart Syringes, Prefilled Syringes, Intubation & Ventilation Supplies, Hypodermic Products, Sterilization Consumables, Nonwoven Medical Supplies, Incontinence Products, Surgical Nonwoven Products, Wound Care Consumables, Infection Management Products, Exudate Management Products, NPWT Devices), Application, End Use – Global Industry Revenue Estimation and Demand Forecast to 2030 @ https://www.psmarketresearch.com/market-analysis/medical-disposables-market-outlook

The end use segment of the market includes hospitals, assisted-living centers & nursing homes, clinics/physician offices, research institutes, and ambulatory surgery centers. Out of these, the hospitals category dominated the market, because of the high incidence of cardiovascular diseases and diabetes, increasing requirement for point-of-care (POC) diagnostic procedures, and surge in the demand for glucose monitoring systems.

Geographically, the medical disposables market was dominated by North America in 2020, because of the high government expenditure on healthcare and the existence of several major market players and a large geriatric population in the region.

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Many major market players are focusing on product innovation in order to provide better offerings and gain an edge over their rivals. For example, the Food and Drug Administration (FDA) gave Emergency Use Authorization (EUA) to Medtecs USA's MEDTECS surgical face mask for use in healthcare facilities by medical practitioners in May 2021. This mask provides a protective barrier to particulate matter and liquids and protects medical professionals from large particles and respiratory droplets, which transmit the COVID-19 virus from one person to another.

Some of the major global medical disposables market players are Johnson & Johnson, Medtronic plc, Abbot Laboratories, Fresenius Medical Care AG & Co. KGaA., and General Electric Company.

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Global Market for Prefilled Syringes - Globally, Europe contributed the highest revenue to the prefilled syringes market in 2020, because of the high incidence of non-communicable diseases such as cancer, cardiovascular diseases, and diabetes in the region.

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SOURCE P&S Intelligence