Medical Supplies Market Size, Recent Trends and Regional Growth Forecast
Growth in the medical supplies market is primarily driven by the increasing prevalence of chronic and infectious diseases, a rising number of surgeries, growing geriatric population, and the rising number of hospital-acquired infections (HAIs).
The Research Report Consist of 225 pages, which covers Global Medical Supplies Market overview, Major Key Players detailed Analysis, market opportunities, market risk, forecast for the next five years, major driving factors for the market as well as detailed analysis for CAGR, scope, research findings, leading key players marketing strategy to acquire major market in the form of revenue.
However, strict and mandate regulatory requirements for the approval of medical supplies and the rising number of product recalls are expected to hinder the growth of this market.
The Global Medical Supplies Market is expected to reach $ 136.63 billion, at a CAGR of 6.8%
Critical questions the research report answers:
Medical Supplies Market Based on type:
Based on the type, the market is segmented into diagnostic supplies, dialysis consumables, wound care consumables, inhalation products, radiology consumables, infection control supplies, infusion products, intubation and ventilation supplies, personal protective equipment (PPE), hypodermic products, sterilization consumables, and other supplies. The dialysis consumables segment is projected to register the highest CAGR during the forecast period. The major factors contributing to the growth of this medical supplies marketinclude increasing patient pool for renal diseases, rising incidence of diabetes and hypertension, growing the geriatric population, and increasing adoption of dialysis procedures over kidney transplantations.
Medical Supplies Market in terms of Application:
Based on application, the market is segmented into urology, wound care, radiology, anesthesia, sterilization, cardiology, ophthalmology, and other applications. The anesthesia segment is expected to register the highest growth during the forecast period. The high growth in this segment is attributed to the increasing number of surgical procedures being performed across the globe and the rising incidence of respiratory diseases.
Urology is an important application segment in the medical supplies market and has witnessed significant growth in recent years owing to the increasing incidence of kidney and urological conditions, and the rising geriatric population. The prevalence of urological and kidney diseases, such as chronic kidney disease (CKD), end-stage renal disease (ESRD), urinary tract infection (UTI), urinary stones, benign prostate hyperplasia (BPH), kidney cancer, and bladder cancer, is increasing across the globe. According to the Scottish Kidney Federation, over 500 million people across the globe suffer from some form of kidney disease.
The Major Players Operating in the Medical Supplies Market:
The major players in the market include Becton, Dickinson and Company (U.S.), Boston Scientific Corporation (U.S.), Johnson & Johnson (U.S.), 3M Company (U.S.), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Cardinal Health, Inc. (U.S.), Baxter International Inc. (U.S.), and Halyard Health, Inc. (U.S.).
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