Disposable Medical Supplies Market to Grow USD 314410 Million by 2028 at a CAGR of 4.9% | Valuates Reports
BANGALORE, India , June 15, 2022 /PRNewswire/ -- The Disposable Medical Supplies Market is Segmented by Type (Injection and Infusion, Blood and Dialysis, Wound Care, Medical Implanting Material, Disposable Clothing, Incontinence Supplies, Surgical Supplies), by Application (Home Healthcare & Nursing Home, Hospitals & Other Medical Institutions): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Pharmacy Category.
The global Disposable Medical Supplies market size is projected to reach USD 293760 Million by 2027, from USD 210170 Million in 2020, at a CAGR of 4.9% during 2021-2027.
Major Factors Driving the Growth of the Disposable Medical Supplies Market
The growing number of Hospital Acquired Infections( HAIs) and the rising number of medical surgeries will drive the growth of the market.
The impact of the covid 19 outbreak will drive the market trends due to growing awareness of sanitation, hygiene, and strict adherence to safe healthcare practices.
The increasing prevalence of chronic diseases and the surging geriatric population are leading to longer hospital stays in turn boosting the market growth during the forecast period.
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TRENDS INFLUENCING THE GLOBAL DISPOSABLE MEDICAL SUPPLIES MARKET
Hospital-acquired infections can be serious and life-threatening. The most common types are bloodstream infection, urinary tract infection, ventilator-associated pneumonia, and surgical site infections. As per the estimates of the World Health Organization 1.4 million people around the globe are suffering from an HAI at any given point in time. Various factors determine the development of HAIs such as contaminated instruments, objects, poor maintenance of catheters, ventilators, congested hospital beds, improper sterilization and reusing of infected syringes, etc. Medical surgeries are also rising rapidly. Disposable medical supplies provide the perfect solution as they are easy to use, convenient, and offer high-level protection. Such factors will boost the growth of the disposable medical supplies market during the forecast period.
The covid 19 pandemic drove demand for disposable medical devices such as gowns, gloves, and masks creating supply and demand constraints. The awareness regarding good healthcare practices is crucial for protecting the lives of patients and frontline staff. As per a research-based study disposable ventilator circuits act as an effective barrier between the covid 19 virus and healthcare workers operating in hospital rooms as they limit the aerosol particles of the virus. Sterilizing reusable critical and semi-critical hospital supplies is expensive and requires multiple steps. The use of disposable chemicals, labeling, and proper storage are required for preventing contamination and packaging damage. On the other hand, single-use supplies only require the time needed to unpackage. This in turn will boost the growth of the disposable medical supplies market in the coming years.
One in three adults around the world suffers from multiple chronic conditions. The aging population is surging rapidly. This increases healthcare expenditure with each chronic condition such as diabetes, HIV/AIDs, Tuberculosis, and high blood pressure requiring additional specialist access, emergency department presentations, and discussions. The complications involve deterioration of quality of life, inability to work, huge out-of-pocket medical expenses, and a high toll on care providers. As multiple factors expand hospital stays and admissions get longer. This will drive the growth of the disposable medical supplies market in the forthcoming years.
The disposable medical supplies market will be hampered by the harmful effects on the environment. Hospitals create a huge amount of waste that is dumped in landfill areas. In order to ensure patient safety, convenience, and cost more and more clinical instruments are being marked single-use and thrown away. Healthcare authorities dictate mandatory rules regarding what instruments can be reused. Pandemic and infection outbreaks reveal weak spots in supplies that cannot be sterilized properly. Hence items such as suture wires, and scissors are converted for single-use and thrown out.
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DISPOSABLE MEDICAL SUPPLY MARKET SHARE ANALYSIS
Based on application, hospitals and other medical institutions are expected to dominate in the disposable medical supply market share owing to a huge number of patient admissions in hospitals and covid 19 outbreaks.
Based on region, North America is expected to witness considerable growth due to the presence of key players and rising cases of covid 19.
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Key Companies:
- Johnson & Johnson
- Baxter
- Fresenius
- Boston Scientific
- Medtronic
- BD
- 3M
- Terumo Corporation
- Braun
- Smith & Nephew
- Abbott
- R. Bard
- Novartis
- ConvaTec
- Medline
- Teleflex
- Halyard Health
- Nitto Medical
- Coloplast
- Smiths Group
- Weigao
- BSN medical
- Lohmann & Rauscher
- Ansell.
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SIMILAR REPORTS:
- The global Medical Supplies market size is projected to reach USD 329030 Million by 2028, from USD 202430 Million in 2021, at a CAGR of 7.1% during 2022-2028.
- The global advanced wound care market size was valued at USD 8,978.0 Million in 2020, and is projected to reach USD 14,190.5 Million by 2030, registering a CAGR of 4.6% from 2021 to 2030.
- The Medical Equipment Maintenance Market will grow from USD 34.79 Billion in 2020 to USD 60.16 Billion by 2026, with a CAGR of 9.56% during the forecast period.
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- Due to the COVID-19 pandemic, the global Wearable Medical Devices market size is estimated to be worth USD 19110 Million in 2022 and is forecast to a readjusted size of USD 57440 Million by 2028 with a CAGR of 20.1% during the review period.
- As a result, the Face Shield Market is expected to grow at the rate of 6.6% CAGR by 2027.
- Due to the COVID-19 pandemic, the global Enteral Syringes market size is estimated to be worth USD 704.1 Million in 2022 and is forecast to a readjusted size of USD 896.6 Million by 2028 with a CAGR of 4.1% during the review period.
- Due to the COVID-19 pandemic, the global Syringe and Needle market size is estimated to be worth USD 6784.5 Million in 2022 and is forecast to a readjusted size of USD 8653.7 Million by 2028 with a CAGR of 4.1% during the review period.
- The global Wound Care market size is projected to reach USD 21930 Million by 2027, from USD 17300 Million in 2020, at a CAGR of 3.0% during 2021-2027.
- The global PPE market size was estimated at USD 43060 Million in 2020 and is expected to reach USD 58700 Million in 2027, growing at a CAGR of 5.3% during the forecast period 2021-2027.
- The Medical Device Outsourcing market size is estimated to be valued at USD 74220 Million in 2021 and projected to reach USD 142960 Million by 2028, recording a CAGR of 9.7%.
- In 2020, the global Home Healthcare market size was USD 243500 Million and it is expected to reach USD 385390 Million by the end of 2027, with a CAGR of 6.3% during 2021-2027.
- Due to the COVID-19 pandemic, the global Disposable Medical Textiles market size is estimated to be worth USD 6077.6 Million in 2022 and is forecast to a readjusted size of USD 9223.6 Million by 2028 with a CAGR of 7.2% during the review period.
- Due to the COVID-19 pandemic, the global Medical Nonwoven Disposables market size is estimated to be worth USD 16390 Million in 2022 and is forecast to a readjusted size of USD 20380 Million by 2028 with a CAGR of 3.7% during the review period.
- The global Medical Suction Tubing market was valued at USD 612 Million in 2020 and is expected to reach USD 839.2 Million by the end of 2027, growing at a CAGR of 5.8% during 2021-2027.
- Due to the COVID-19 pandemic, the global Transdermal Patch market size is estimated to be worth USD 7058.3 Million in 2022 and is forecast to a readjusted size of USD 8726.9 Million by 2028 with a CAGR of 3.6% during the review period.
- Due to the COVID-19 pandemic, the global Dialysis Equipment market size is estimated to be worth USD 1186.9 Million in 2022 and is forecast to a readjusted size of USD 1459 Million by 2028 with a CAGR of 3.5% during the review period.
- The global Hemodialysis market size is estimated to be worth USD 2018.1 Million in 2022 and is forecasted to reach USD 2206.7 Million by 2028 with a CAGR of 1.5% during the review period.
- The global dialysis market size was valued at USD 91,205.0 Million in 2020 and is estimated to reach USD 129,756.8 Million by 2028, registering a CAGR of 4.7% from 2021 to 2028.
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