DUBLIN--(BUSINESS WIRE)--The "Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Disinfectants, PPE, Radiology, Sterilization, Catheters), Application (Urology, Cardiology, Infection Control), End User (Hospitals, Clinics & Physician Offices) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The medical supplies market is projected to reach USD 133.5 billion by 2025 from USD 132.6 billion in 2020, at a CAGR of 4.6%.
Growth in this market is driven by the increasing prevalence of chronic diseases across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, rising demand for infection control measures to curb the occurrence of HAIs, and the rising demand for medical devices. On the other hand, product recalls, stringent regulatory requirements for the approval of medical supplies, and the imposition of trade restrictions are hampering the growth of this market.
The catheters segment held the largest share of the medical supplies market in 2019
The medical supplies market, by type, is categorized into diagnostic supplies, infusion & injectable supplies, intubation & ventilation supplies, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies. The catheters segment held a considerable share of this market in 2019, owing to the high and growing prevalence of chronic diseases, coupled with the launch of innovative products in the market.
The respiratory segment is estimated to grow at a rapid rate during the forecast period
Based on application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The respiratory segment is estimated to grow at a significant rate during the forecast period, owing to the increasing prevalence of respiratory diseases such as COPD and asthma across the globe.
Hospitals accounted for the largest share of the medical supplies market, by end-user, in 2019
The end-user segment of this market is categorized into hospitals, clinics/physician offices, and other end users. The hospital segment is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the increasing investments in healthcare systems and the high prevalence of infectious and chronic diseases.
Asia Pacific is the fastest-growing regional market for medical supplies
Geographically, in 2019, the medical supplies market was dominated by North America, followed by Europe. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The rising geriatric population, growth in the medical tourism industry, and the increasing prevalence of chronic medical conditions are the major factors driving the demand for medical supplies in the Asia Pacific market.
Market Dynamics
Drivers
- Increasing Prevalence of Chronic Diseases Across the Globe
- Increasing Government and Corporate Investments in Healthcare Projects and Infrastructure Development
- Rising Demand for Infection Control Measures to Curb the Occurrence of Hospital-Acquired Infections
- Increasing Number of Surgical Procedures
- Increasing Demand for Medical Devices
Restraints
- Product Recalls
- Stringent Regulatory Requirements for the Approval of Medical Supplies
- Imposition of Export Restrictions on Medical Devices
Trends
- Rising Number of Agreements Between Companies to Manufacture Cost-Effective Medical Devices
Opportunities
- Emerging Markets
-
Rising Medical Tourism
Companies Profiled
- Medtronic plc
- Cardinal Health, Inc.
- Becton, Dickinson and Company
- Johnson & Johnson
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Thermo Fisher Scientific, Inc.
- Baxter International, Inc.
- Avanos Medical, Inc.
- 3M Company
- Smith & Nephew
- Convatec Group plc
- Abbott
- Cook Medical
- Merit Medical Systems
- Stryker
- Terumo Corporation
- Teleflex Incorporated
- Fresenius Medical Care AG & Co. Kgaa
- Coloplast Group
For more information about this report visit https://www.researchandmarkets.com/r/qs8pct
