Medical Supplies Market Future Growth Till 2027 Analysis by Key Vendors Medtronic Plc, Becton, Dickinson And Company, B. Braun Melsungen Ag, Johnson & Johnson etc
The global medical supplies market is expected to be valued at $18.89 billion by 2027. The rising incidence of chronic diseases due to unhealthy lifestyles is expected to drive the demand for medical supplies during the forecast period.
The medical supplies market will witness significant growth owing to the increase in healthcare spending along with technological advancements in medical devices. Other factors such as increase in trauma injuries, infectious diseases and road injuries are also expected to contribute to the market demand. Another driving force is the increase in diagnostic imaging centers and the surge in coverage. The utilization of advanced technology through R&D has a positive impact on the medical supplies market.
The global medical supplies market revenue growth is significantly driven by numerous favorable factors such as increasing prevalence of acute and chronic diseases, including infectious, respiratory, urological, cardiac, and oncological diseases; growing inclination towards unhealthy lifestyle habits such as smoking, alcoholism, and excessive consumption of junk food; increasing patient pool; and unprecedented surge in demand for medical supplies including disinfectants, personal protective equipment (PPE), and other disposable hospital supplies.
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Information Technology (IT) and telecom industry has been growing at a rapid rate due to increasing commercial deployment of base stations in countries such as the U.S., South Korea, and China. Emergence of 5G technology is paving way for development of novel nanoscale computer technologies such as Virtual Reality (VR), Augmented Reality (AR), and Internet of Things (IoT), among others
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
Key players in the market include :
Medtronic Plc, Becton, Dickinson And Company, B. Braun Melsungen Ag, Cardinal Health, Inc., Johnson & Johnson, Boston Scientific Corporation, Baxter International, Inc., 3M Company, Abbott, and Avanos Medical, Inc., among others.
Some Key Highlights from the Report :
The growth in the level of awareness of worker’s health and safety, and the rise in the number of deaths, particularly in the emerging nations, is creating a need for personal protective equipment, hence driving the segment’s demand.
Based on application, the other applications segment is expected to register fastest revenue growth rate in the global market over the forecast period. Rising prevalence of acute and chronic disorders, increasing number of surgical procedures in hospitals and ambulatory surgical centers, increasing adoption of technologically advanced medical equipment, and increased government spending on healthcare infrastructure development are key drivers for the growth of this segment.
The medical supplies market for the Asia Pacific is presumed to expand at a high CAGR throughout the forecast timeframe. The regional growth can be accredited to India, Japan, and China owing to factors such as the growing advancements by prominent players in these countries and increased support from the government.
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The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Medical Supplies Market products is expected to drive the demand for Medical Supplies Market , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
Segmented the global Medical Supplies Market :
For the purpose of this report, Emergen Research has segmented into the global Medical Supplies Market on the type, application, end-user, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Diagnostic Supplies
- Blood Collection Consumables
- Infusion & Injectable Supplies
- Intubation & Ventilation Supplies
- Hand Disinfectants
- Skin Disinfectants
- Surface Disinfectants
- Instrument Disinfectants
- Personal Protective Equipment
- Hand & Arm Protection Equipment
- Eye & Face Protection Equipment
- Protective Clothing
- Foot & Leg Protection Equipment
- Surgical Drapes
- Other Protection Equipment
- Sterilization Consumables
- Wound Care Consumables
- Advanced Wound Dressings
- Surgical Wound Care
- Traditional Wound Care
- Dialysis Consumables
- Hemodialysis Consumables
- Peritoneal Dialysis Consumables
- Radiology Consumables
- Cardiovascular Catheters
- Intravenous Catheters
- Urological Catheters
- Specialty Catheters
- Neurovascular Catheters
- Sleep Apnea Consumables
- Other Medical Supplies
As part of our quantitative analysis, we have provided regional market forecasts by type and application, market sales forecasts and estimates by type, application and region by 2027, and global sales and production forecasts and estimates for Bioelectric Medicine by 2027. For the qualitative analysis, we focused on political and regulatory scenarios, component benchmarking, technology landscape, important market topics as well as industry landscape and trends.
Key questions answered in the report:
- Which are the five top players of the Medical Supplies Market ?
- How will the Medical Supplies Market change in the next five years?
- Which product and application will take a lion’s share of the Medical Supplies Market ?
- What are the drivers and restraints of the Medical Supplies Market ?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the Medical Supplies Market throughout the forecast period?
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