Medical Supplies Market Size to Reach USD 189.03 Billion in 2028 Growing at a CAGR of 4.5%
Emergen Research has published its latest report titled “Medical Supplies Market, By Type (Patient Examination Devices, Operating Room Equipment, Mobility Aids and Transportation Equipment, Diagnostic Supplies, Infusion & Injectable Supplies, Intubation & Ventilation Supplies, Disinfectants, Personal Protective Equipment, Other Medical Supplies), By Application (Urology, Wound Care, Radiology, Respiratory Disease, Infection Control, Cardiology, In Vitro Diagnostics, Other Applications), By End-use (Hospitals & Clinics, Ambulatory Surgical Centers, Medical Research Centers, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global medical supplies market size was USD 132.26 billion in 2020 and is expected to reach USD 189.03 billion in 2028 and register a revenue CAGR of 4.5% during the forecast period, 2021-2028.
Steady revenue growth of the global medical supplies market is supported by factors such as rising prevalence of acute and chronic illnesses such as cardiac, infectious, oncological, respiratory, and urological disorders across the globe. Growing patient pool due to increased inclination towards unhealthy lifestyle choices such as alcoholism, smoking, lack of physical activity, and excessive junk food consumption, and rapidly growing rate of hospital admissions have led to substantial increase in demand for medical supplies.
Hence, growing demand for medical supplies such as personal protective equipment (PPE), disinfectants, and numerous other disposable hospital supplies amid the ongoing COVID-19 pandemic is driving the global market revenue growth to a major extent. Some other important factors boosting revenue growth of the market are increasing incidences of road accidents and physical injuries, rising volumes of surgeries, rapid adoption of technologically advanced diagnostic and surgical equipment in healthcare facilities, and rapidly advancing global healthcare infrastructure.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Disinfectants Segment Accounted for Largest Revenue Share in 2020:
Based on type, the disinfectants segment accounted for the largest revenue share in the global medical supplies market in 2020. Rising cases of COVID-19 across the world, growing rate of hospital admissions, increasing prevalence of hospital-acquired infections (HAIs), and unprecedented surge in demand for disinfectants such as surface disinfectants and hand sanitizers since the COVID-19 outbreak are the key factors contributing to the revenue growth of this segment. Other factors driving this segment’s growth are increasing public awareness of health & hygiene, rising government initiatives towards sanitization of public places, and growing demand for disinfectants with better quality and higher effectiveness.
Other Applications Segment to Account for Fastest Revenue CAGR:
Based on application, the global medical supplies market is segmented into urology, wound care, radiology, respiratory disease, infection control, cardiology, in-vitro diagnostics, and other applications. The other applications segment is expected to register the fastest revenue CAGR in the global market over the forecast period, owing to factors such as increasing prevalence of acute and chronic disorders, rising demand for medical supplies in hospitals, clinics, ambulatory surgical centers, increasing number of surgical procedures, and growing investments by government bodies in development of healthcare infrastructure.
North America Accounted for Largest Revenue Share in 2020:
North America dominated other regional markets in terms of revenue share in the global market in 2020. Revenue growth of the regional market growth is primarily attributed to factors such as rising prevalence of acute and chronic illnesses, growing need for medical supplies in hospitals, clinics, and ambulatory surgical centers, increasing healthcare research & development activities, and presence of highly advanced healthcare infrastructure, as well as leading market players in the region, including Cardinal Health, Inc., Johnson & Johnson, and Thermo Fisher Scientific.
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Major Companies in the Global Medical Supplies Market Include:
- Medtronic Plc
- Cardinal Health, Inc.
- Johnson & Johnson
- B. Braun Melsungen AG
- Boston Scientific Corporation
- Thermo Fisher Scientific
- Baxter International, Inc.
- Avanos Medical, Inc.
- Smith & Nephew
- ConvaTec Group Plc.
- Abbott Laboratories
- Cook Medical
- Merit Medical Systems
- Terumo Corporation
- Teleflex Incorporated
- Fresenius Medical Care AG & Co. KGaA
- Coloplast Group
For the purpose of this report, Emergen Research has segmented the global medical supplies market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Patient Examination Devices
- Operating Room Equipment
- Mobility Aids and Transportation Equipment
- Diagnostic Supplies
- Blood Collection Consumables
- Infusion & Injectable Supplies
- Intubation & Ventilation Supplies
- Hand Disinfectants
- Skin Disinfectants
- Surface Disinfectants
- Instrument Disinfectants
- Personal Protective Equipment
- Protective Clothing
- Hand & Arm Protection Equipment
- Eye & Face Protection Equipment
- Foot & Leg Protection Equipment
- Surgical Drapes
- Sterilization Consumables
- Wound Care Consumables
- Advanced Wound Dressings
- Surgical Wound Care
- Traditional Wound Care
- Dialysis Consumables
- Hemodialysis Consumables
- Peritoneal Dialysis Consumables
- Radiology Consumables
- Cardiovascular Catheters
- Intravenous Catheters
- Urological Catheters
- Specialty Catheters
- Neurovascular Catheters
- Sleep Apnea Consumables
- Disposable Hospital Supplies
- Other Medical Supplies
Application Outlook (Revenue, USD Billion; 2018-2028)
- Wound Care
- Respiratory Disease
- Infection Control
- In Vitro Diagnostics
- Other Applications
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Medical Research Centers
By Region (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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