BANGALORE, India, April 6, 2020 /PRNewswire/ -- The global medical supplies market size is expected to increase from USD 105.8 Billion in 2019 to USD 160.6 Billion by 2025, at a CAGR of 7.2 percent from 2019 to 2025.
Medical supplies is a generic term that comprises everything from the basic first-aid kit to specific tools in the medical profession. Some medical supplies are used in drug delivery procedures, such as hypodermic devices and inhalation supplies, while supplies of sterilization and infection prevention are used to prevent infection in healthcare settings.
The key factors leading to the growth of medical supplies market size include a growing patient pool for renal diseases, rising diabetes and hypertension incidence, growing geriatric population, and rising dialysis procedures for kidney transplants. Additionally, factors such as increased number of surgeries, increased prevalence of diseases, increased geriatric population, and an increased number of hospital-acquired infections (HAIs) are driving the growth of the global demand for medical supplies.
TRENDS INFLUENCING THE GROWTH OF MEDICAL SUPPLIES MARKET SIZE
- The growing prevalence of large-scale and small-scale disorders, fueled by ecological shifts, chronic diseases, and rising accident & injury cases, is increasing the growth of medical supplies market size.
- Increasing cases of surgical and maternity-care infections, as well as hospital-acquired infections, have contributed to increased demand for medical supplies to ensure health and hygiene. Furthermore, the medical supply market is expected to witness a huge growth due to the widespread impact of COVID-19.
- Raising numbers of surgeries will intensify the demand for surgical gowns, gloves, drapes, feeding tubes, and procedural kits and trays, which, in effect, will drive the global market for medical supplies.
MEDICAL SUPPLY MARKET SHARE BY REGION WISE ANALYSIS
- North America, led by wide accessibility to healthcare goods & services, is expected to dominate the global medical supplies market. Factors such as wide adoption of new technologies and an increasing focus on providing cost-competitive supplies promote regional business growth.
- The Asia Pacific is expected to be the fastest-growing region during the forecast period due to factors like growing geriatric population, increasing incidence of diseases, rising medical tourism industry, and improving healthcare infrastructure.
- Factors including increasing healthcare spending, adoption of new technology, and involvement of global players promote the growth of the European medical supplies market.
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MEDICAL SUPPLIES MARKET SEGMENTATION
Medical Supplies Market by the type, the market is primarily split into
- Diagnostic Products
- Dialysis Consumables
- Trauma Care Consumables
- Radiation Related Consumables
- Infusion Related Products.
Medical Supplies Market by the application, this report covers the following segments
- Nursing Home.
The Medical Supplies key manufacturers in this market include:
- Cardinal Health
- Becton, Dickinson
- Johnson & Johnson
- Braun Melsungen
- Boston Scientific
- Thermo Fisher Scientific
- Baxter International
- Halyard Health
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