Overview: Medical Supplies Market
Medical supplies & equipment account for a high proportion of health care costs, impacting the quality of care significantly. Over the past few years, the healthcare sector is burgeoning, worldwide, mainly due to the increasingly prosperous population that demands high-quality care. Along with the flourishing healthcare sector, the medical supplies market is too growing rapidly, witnessing the increasing demand in treatment and surgical procedures.
The global Medical Supplies Market Forecastcan be influenced by increasing investment and changing infrastructures in the market that can also assist the market in its attempt to touch a valuation of USD 132 Bn by 2022. The growth would find influencers to perform well and aid the market in achieving an impressive CAGR in between 2017 and 2022, which Market Research Future (MRFR) considers as the forecast period in their report.
Further, an increasingly prosperous population that demands high-quality care, increasing demand for medical supplies in the treatment and surgical procedures are likely to drive the global medical supplies market. Mounting prevalence of different large and small disorders driven by ecological changes, chronic diseases and mounting cases of accidents and injuries are seen fueling growth to the medical supplies market during the conjectured period. Safety-enhanced devices used in the nominally invasive delivery of medicines, inhalation therapies & IV, along with dialysis are some of the supplementary factors contributing to the bolstering medical supplies market.
Moreover, improving economic conditions across the world are directly boosting the demand for medical supplies market during the forecast period. Development of the e-commerce industries and the easy availability of tools to develop an online store for medical supply vendors are creating new business opportunities for growth and expansion.
Competitive Landscape: Medical Supplies Market
· Medtronic plc
· Baxter International Inc
· 3M Company
· Boston Scientific Corporation
· B. Braun Melsungen AG
· Thermo Fisher Scientific Inc
· Johnson & Johnson
· Halyard Health
Segments: Medical Supplies Market
The global market for medical supplies, as per MRFR’s take on the market, can be segmented by type, applications, and end users. Such a segmentation provides a better understanding of factors that can have a considerable market impact and trigger various innovative initiatives. By type, the global market for medical supplies has blood collection tubes, infusion products, dialysis consumables, wound care products, adult incontinence products, surgical drapes, and blood glucose test strips.
By applications, the market for medical supplies depends much on the segmentation that includes urology, anesthesia, wound care, and sterilization. In the wound care segment, the market can find better percolation. The sterilization segment can also grow fast in the coming years.
By end user, the market for medical supplies can be segmented into nursing homes, clinics, hospitals, and others. The hospital segment has better growth potential as the segment is showing potential for a high intake of medical supplies.
Regional Analysis: Medical Supplies Market
The global market review of the medical supplies declares the Americas as the largest market for the industry. The region is expected to have strong profit from the North American region where robust infrastructure and constant influx of investment are expected to set up the scope for the market to expand. The US and Canada can find this prospect much growth-inducing. The European market has similar prospects like North America and the region is banking on the investments made by France, Germany, and the UK. These countries are also spending much on research and development sectors.
The Asia Pacific region is showing the possibility of getting the fastest CAGR during the forecast period. The regional market has provisions made by countries like India, China, Taiwan, and others who can influence the market. In the Middle East & Africa region, this growth would be substantial as countries like Qatar, Dubai, Saudi Arabia, and others can achieve significant traction from increasing government and private investments. But other countries in the African region who record poor economic growth can chain down the growth in the coming years.