According to the new market research report “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″ published by MarketsandMarkets™.
The Global Medical Supplies Market is projected to grow from USD 133.5 billion by 2025 from USD 132.6 billion in 2020, at a CAGR of 4.6%.
Market Size Estimation;
Both top-down and bottom-up approaches were used to estimate and validate the total size of the industry. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research.
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
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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 are driving the growth of the global medical supplies market. Moreover, the rising medical tourism and emerging markets are expected to offer significant growth opportunities to players operating in the market in the coming years.
Catheters accounted for the largest share of the medical supplies market.
By type, segmented 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 intubation & ventilation supplies segment is expected to grow at the highest growth rate during the forecast period. The growth of this segment is driven mainly by the rising prevalence of respiratory diseases such as asthma and COPD across the globe.
By End User
- Clinics/Physician Offices
The other applications segment accounted for the largest market share.
The applications market is categorized into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The other applications segment held the largest market share in 2019, due to factors such as the increasing number of surgical procedures, rising prevalence of dental diseases, and the increasing focus on adhering to proper waste disposal methods.
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The medical supplies market in North America, Europe, the Asia Pacific, and the Rest of the World has been covered in this report. In 2019, North America held the largest share of the market, followed by Europe. The rising incidence of chronic diseases, increasing geriatric population, and the increasing prevalence of COVID-19 are the major factors driving the growth of the market in North America.
Key Market Players;
The prominent players operating in the medical supplies market include Medtronic (Ireland), Cardinal Health, Inc. (US), BD (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (US), Baxter International, Inc. (US), Avanos Medical, Inc. (US), 3M (US), Smith & Nephew (Ireland), ConvaTec Group Plc. (UK), Abbott (US), Cook Medical (US), Merit Medical Systems (US), Stryker (US), Terumo Corporation (Japan), Teleflex Incorporated (US), Fresenius Medical Care AG & Co. KGaA (Germany), and Coloplast Group (Denmark).