Disposable Medical Supplies Market is predicted to reach USD 1,18,694.03 million by 2030
The Global Disposable Medical Supplies Market held USD 49,281.24 million in 2018 and is predicted to reach USD 1,18,694.03 million by 2030 with a CAGR of 7.6% from 2019-2030.
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Disposable medical supplies consist of medical devices, apparatuses, and consumables that can be used only for one time in medical settings. The disposable medical supplies are vital component for the hospital, nursing homes, ambulatory surgery centers, and research institutes. These supplies save staff time and reduce healthcare-associated costs. These supplies are non-durable medical consumables that are usually disposable in nature.
The disposable medical supplies are being highly used to avoid contamination and hospital-acquired infections. In addition, growing trend towards the low-cost disposable medical supplies is replacing high value-added single-use products during surgery and general patient care. This is increasing the disposable medical supplies market size over the years.
Surge in demand for disposable medical supplies, trend for disposable medical supplies to avoid contamination and healthcare-acquired infections, and favorable government regulations are key factors to drive the disposable medical supplies market. However, inadequate reimbursement policies and raise in environmental concerns due to disposable wastes is hampering the growth of the disposable medical supplies market. The higher investment in healthcare facilities by the developing economies will create new opportunities for the market growth in future, thereby resulting in increased disposable medical supplies market share by 2030.
The disposable medical supplies market is segmented on the basis of type, application, end user, and geography. On the basis of type, the market is segmented into dialysis consumables, radiology consumables, diagnostic supplies, wound care consumables, infusion products, hypodermic products, sterilization consumables, intubation & ventilation supplies, nonwoven medical supplies, and others. The diagnostic supplies segment is further sub segmented into glucose monitoring strips, blood collection consumables, and diagnostic catheters. The infusion products segment is further divided into smart syringes and prefilled syringes. The nonwoven medical supplies segment is further categorized into incontinence products and surgical nonwoven products. The wound care consumables segment is further sub segmented into infection management, exudate management, and negative pressure wound therapy devices (NPWT). On the basis of application, the market is classified into cardiovascular, cerebrovascular, ophthalmology, gynecology, urology, orthopedics, and others. On the basis of end user, the market is divided into hospitals, clinics/physician offices, assisted living centers & nursing homes, ambulatory surgery centers, and research institutes. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and LAMEA.
North America is anticipated hold the highest market share during the forecast period. This is attributable to the factors including enhanced developments in healthcare, high R&D investments, high consumer awareness, and technological advancements.
It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to improvement in healthcare facility, increasing healthcare expenditure, and increasing per capita incomes.
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Comprehensive competitive analysis and profiles of the major market players such as Smiths Group plc., Abbott Laboratories, Bayer AG, Cardinal Health Incorporated, 3M Company, Braun (B.) Melsungen AG, Domtar Corporation, Medtronic plc, Terumo Corporation, Becton, Dickinson, and Company and others are provided in the disposable medical supplies market report.
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