Disposable Hospital Supplies Market: Value Chain, Stakeholder Analysis and Trends
Disposable medical supplies consist of medical apparatuses, devices, or consumables used once or for a brief time in medical application. These supplies are an essential component in hospitals, as they save staff time and reduce health care related costs. Disposables medical supplies include bandages & wraps, drug tests disposables, exam gowns, face masks, gloves, suction catheters, surgical sponges, hypodermic needles, syringes, and applicators.
Key Drivers of Disposable Hospital Supplies Market
Awareness Regarding Hospital Acquired Infections
The disposable hospital supplies market is driven by the rise in awareness about hospital acquired infections. For instance, as per a report published by the European Centre for Disease Prevention and Control (ECDC), 1 out of 18 patients in European hospitals suffer from hospital-acquired infection (HAI). Moreover, on an average, around 3.2 million patients per year suffer from HAIs. Such instances are driving the use of disposable hospital supplies.
Rise in Incidence of Diseases Worldwide
Rise in incidence of diseases worldwide is fueling the expansion of the disposable hospital supplies market. According to the World Health Organization (WHO), chronic disease prevalence is expected to increase by 57% by 2020. Moreover, global pandemic is also on the rise. These factors are driving the demand for disposable hospital supplies.
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Environmental Concerns Related to Improper Disposal of Medical Waste
Environmental concerns related to improper disposal of medical waste is restraining the growth of the disposable hospital supplies market. The Environmental Protection Agency (EPA) has stipulated several regulations for appropriate disposal of hazardous waste, collection of biohazard waste, and medical waste removal processes. This requires health care facilities to adhere to the rules of proper medical waste disposal, which restricts the use of disposable supplies.
Regional Insights
In terms of region, the global disposable hospital supplies market has been divided into: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. China is witnessing swift growth in the use of disposable hospital supplies due to evolution of health care reforms resulting in continuous increase in demand for hospital supplies.
Other major factors are flow of capital to the hospital market in China through self-establishments, mergers & acquisitions, associates, and other forms. In the Asia Pacific region, increasing geriatric population at an unprecedented rate is a major driver for the disposable hospital supplies market. It is projected that by 2050, one in every four people in Asia Pacific will be over 60 years of age. Moreover, the population in the Asia Pacific region will increase three-fold by 2050. According to reports published by the Advanced Medical Technology Association (AdvaMed), medical device spending in Asia Pacific in 2010 was about 6% of the total national health expenditure.
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Key Players operating in Global Market
The global disposable hospital supplies market is concentrated with a players holding a majority share of the market. The demand for disposable hospital supplies has recently increased in both emerging and developed markets due to various factors, including rise in diseases. This has resulted in a surge in such disposable medical supplies to emerging markets.
Some of the key players operating in the global market are Stryker Corp, Cardinal Health Inc, Hill-Rom Holdings Inc, 3M Health Care Ltd, Steris Corp, Getinge AB, Becton Dickinson and Co, Medline Industries Inc, Advanced Sterilization Products Services Inc, Invacare Corporation, B. Braun Melsungen AG, Sunrise Medical (US) LLC, Ansell Healthcare LLC, Avanos Medical Inc.