Hospital Supplies Market Size, Industry Analysis Report, Regional Outlook, Application Growth Potential, Competitive Market Growth & Forecast, 2020 - 2026
Report ID: GMI1655
Hospital Supplies Market size will witness a considerable growth over the forecast period.
Remarkable increase in adoption of disposable hospital supplies across the globe, growing concern about hospital acquired infections (HAIs) should fuel the demand for disposable products. The governments in developed countries are encouraging the use of disposable hospital supplies in order to contain the healthcare costs incurred in treating HAIs. This trend has also resulted in increased adoption of single-use syringes and needles across the world. Growing concern about nosocomial infection will drive demand for sterilization and disinfectant in wound management.
Increase in geriatric population, developments in healthcare infrastructure, favorable government initiatives in developing countries to offer better healthcare facilities, technological advancements such as the introduction of specialized operating room tables, Light Emitting Diode (LED) lights for operating rooms, pre-filled syringes, plastic syringes, single-use syringes, and digital thermometers will boost the hospital supplies market’s growth.
CDC offers guidelines for hospital supplies. Regulations address the risks of disease transmission; few guidelines exist concerning disinfection and sterilization. Rise of home care services will restrain the market.
Based on product, the industry can be segmented into disposable hospital supplies, patient examination devices, syringes and needles, mobility aids and transportation equipment, sterilization and disinfectant equipment, operating room equipment. The disposable hospital supplies sector will lead the market, being the fastest growing sector in the global hospital supplies market.
U.S. will drive regional hospital supplies market share due to increasing percentage of the elderly as part of the total global population, mass immunization programs and rise in the patient pool and growing need for insulin and vaccines will drive the market’s growth. Shift from non-disposable to disposable supplies will boost regional market share. Presence of leading supply providers such as Stryker and Medtronic (Covidine) in the region will stimulate industry growth owing to availability of affordable products.
European market will witness tremendous growth due to the increase in the number of hospitals, rapidly growing aging population and the rising awareness about hospital-acquired infections (HAIs). In UK, the disposable hospital supplies category was the largest category, reduced spending by the government will hamper the market growth in the region.
Disposable supplies held the majority share of the domestic healthcare equipment & supplies in China. Moreover, China is the major exporter of low technology based medical device equipment worldwide. China has one of the fastest aging populations in Asia with approximately 111 million people above 65 years of age. Widespread variety of development and investment opportunities for emerging players seeking to be a part of hospital supplies market, constant advancement in the market will boost the market size.
Brazil’s population is growing and its average age is increasing quickly, due to improvements in health and sanitation standards and expanded access to healthcare services. Both the public and private healthcare systems receive government funding. Increasing healthcare expenditures by the Brazilian government coupled with technological advancement will drive the hospital supplies market in the region.
South African market will witness tremendous growth due the development and advancement of hospitals through public-private partnerships. Needles, Syringes and catheters remain to account for the foremost share for hospital supplies in South Africa. Factors such as convenience and safety, effective reduction in risk of cross-contamination due to Single-use disposable medical supplies will drive the MEA market size.
Notable industry participants in the Hospital Supplies market include Medtronic (Covidine), Stryker, Baxter, Johnson & Johnson, Fresenius, Boston Scientific, BD, 3M, B. Braun, Smith & Nephew, Terumo Corporation, Abbott, Novartis, Smiths Group. Weigao, Lohmann & Rauscher, Ansell. Partnership with regional companies, acquisition and new product launches are commonly used strategies by industry players.
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