Medical supplies are non-durable, disposable healthcare items ordinarily primarily used for medical purposes. They can be ordered or prescribed by a doctor. It contains diabetic supplies, oxygen, catheters, and ostomy supplies. Hospitals and healthcare facilities are awash in medical supplies because these establishments often use medical equipment to carry out various medical-related duties. Technological developments in medical technology, an ongoing rise in the elderly population, and the increased prevalence of chronic conditions all contribute to increases in disability-adjusted life years.
The rise in chronic diseases worldwide, the rising need for infection control to stop the spread of HAI, and the rising need for medical devices are some factors driving market expansion during the projection period. Some key factors driving the market are an increase in the prevalence of COVID-19, an increase in chronic diseases, and an ageing population.
The Medical Supplies Market will obtain a value of USD132 Billion and a CAGR of 4.8% between 2020-2030.
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The Medical Supplies Market is divided into different segments.
The market is divided into Personal Protective Equipment, Disinfectants, Intubation and Ventilation Supplies, Infusion and Injectable Supplies, Diagnostic Supplies, and Others, depending on the type. Personal protective equipment includes surgical drapes, hand and arm guards, protective garments, and other items. Several types of disinfectants include hand, skin, surface, and instrument disinfectants. The intubation and ventilation kit includes ventilators, oxygen masks, and other equipment.
The market is divided into cardiology, infection control, respiratory, radiology, wound care, and others based on application. Some medical supplies used in cardiac treatments include oxygen masks and ECR machines.
The market is divided into hospitals, clinics/physician offices, and others based on the end user. The main recipients of medical supplies are hospitals and other healthcare facilities because they need a lot for daily use and are constantly involved in medical activities. Compared to a fully operational hospital, clinics and doctor’s offices run on a smaller scale and require fewer materials.
Medical Supplies Market Major Key Players
- 3M Company (U.S.)
- Medtronic plc (Ireland)
- Braun Melsungen AG (Germany)
- Boston Scientific Corporation (U.S.)
- Johnson & Johnson (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Baxter International Inc. (U.S.)
- Halyard Health, Inc. (U.S.)
North America is anticipated to have most of the market share for medical supplies. This can be attributed to many medical equipment manufacturers, contemporary healthcare infrastructure, and qualified medical professionals.
APAC is the region with the quickest market growth rate for medical supplies due to emerging economies’ investments in expanding public healthcare systems. The rapid rise in chronic illnesses, the sizable geriatric population, and the arrival of a sizable number of patients due to medical tourism are all elements driving regional market expansion. A profitable global industry, the distribution of medical supplies in Europe has grown due to the region’s improving economic situation.
Baxter bought Hillrom, a US-based manufacturer of medical devices, in September 2021. Hill-Rom, a competitor in equipment manufacturing, will be acquired by medical technology giant Baxter International. From basic hospital chairs to high-tech operating tables and wearable electrocardiographs, Hillrom makes medical equipment. Baxter is a medical equipment and healthcare company specialising in critical care, nutrition, and surgical goods. We carry out significant transactions.
A companion mobile app that streamlines the collecting and management of healthcare data was released in March 2021 by Becton, Dickinson and Company and ImageMovers, two of the world’s pioneers in healthcare technology. An agreement regarding the software platform to be offered was announced.
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