The global medical supplies market is predicted to touch USD 132 billion at a notable CAGR over the forecast period (2017-2022), as per the latest Market Research Future (MRFR) report. Medical supplies, simply put, is another term for medical equipment. It is of various types including consumable medical supplies or disposable supplies, life-saving equipment, electronic supplies, diabetic supplies, home healthcare supplies, surgical supplies, acute care supplies, durable medical equipment, diagnostic and testing supplies and equipment, and many more. Every variety has distinct features and characteristics which aid them in performing the task that they are intended for.
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Various factors are propelling the medical supplies market. These factors, according to the latest MRFR report, include rising geriatric population, rising incidences of different diseases, increasing number of surgeries, rising patient pool for renal diseases, and growing incidence of hypertension and diabetes. Additional factors pushing market growth include the growing use of dialysis procedures, availability of more effective and technologically advanced products, increasing investments in the healthcare sector, increase in surgery rates, increasing adoption of new surgical procedures, and growing awareness about preventative care.
The Market Research Future report provides a wide segmental analysis of the medical supplies market based on type, application, and end user.
Based on type, the medical supplies market is segmented into adult continence products, blood glucose test strips, surgical drapes, dialysis consumables, wound care products, blood collection tubes, infusion products, and others. Of these, the dialysis consumables segment will have the largest share in the market over the forecast period. It is predicted to grow at the highest CAGR owing to rising adoption of dialysis procedures, growing geriatric population, rising incidence of hypertension and diabetes, and rising patient pool for renal diseases.
Based on application, the medical supplies market is segmented into anesthesia, sterilization, wound care, and others. Of these, the anesthesia segment will dominate the market over the forecast period. This is owing to the rising cases of respiratory diseases and the rising number of surgical procedures being performed across the world.
Based on end user, the medical supplies market is segmented into nursing homes, clinics, hospitals, and others. Of these, the hospitals segment will lead the market over the forecast period. This is owing to the rising incidences of chronic diseases worldwide, rising prevalence of HAIs, and rising investment in healthcare systems.
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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