Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Inhalation, Infection Control, Infusion, Intubation, PPE), Application (Anesthesia, Radiology, Sterilization) & End User (Hospital, Clinic, Nursing Home) - Global Forecast to 2021
The medical supplies market is expected to reach USD 136.63 billion by 2021 from USD 98.33 billion in 2016, at a CAGR of 6.8% during the forecast period. Factors such as rising number of surgeries, increasing incidence of various diseases, growing geriatric population, and rising number of hospital-acquired infections (HAIs) are driving the growth of the global medical supplies market.
In this report, the medical supplies market is segmented on the basis of type, application, end user, and region. Based on type, the market is segmented into diagnostic supplies, dialysis consumables, wound care consumables, inhalation products, radiology consumables, infection control supplies, infusion products, intubation and ventilation supplies, personal protective equipment (PPE), hypodermic products, sterilization consumables, and other supplies. The dialysis consumables segment is projected to register the highest CAGR during the forecast period. The major factors contributing to the growth of this market include increasing patient pool for renal diseases, rising incidence of diabetes and hypertension, growing geriatric population, and increasing adoption of dialysis procedures over kidney transplantations.
Based on application, the market is segmented into urology, wound care, radiology, anesthesia, sterilization, cardiology, ophthalmology, and other applications. The anesthesia segment is expected to register the highest growth during the forecast period. The high growth in this segment is attributed to the increasing number of surgical procedures being performed across the globe and the rising incidence of respiratory diseases.
Based on end user, the market is segmented into hospitals, clinics, assisted living centers and nursing homes, ambulatory surgery centers (ASCs), and other end users. The hospitals segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing investment in healthcare systems, growing prevalence of HAIs, and high incidence of chronic diseases across the globe.
Geographically, the market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). Asia is projected to be the fastest-growing region in the forecast period, owing to factors such as the rising geriatric population, increasing incidence of various diseases, growing medical tourism industry, and improving healthcare infrastructure.
The major players in the medical supplies market are 3M Company (U.S.), Boston Scientific Corporation (U.S.), Medtronic plc (Ireland), Johnson & Johnson (U.S.), Thermo Fisher Scientific Inc. (U.S.), Cardinal Health, Inc. (U.S.), B. Braun Melsungen AG (Germany), Becton, Dickinson and Company (U.S.), Baxter International Inc. (U.S.), and Halyard Health, Inc. (U.S.).
Apart from comprehensive geographic analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by the market players to maintain and increase their shares in the market. The abovementioned market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the medical supplies market.
Reasons to Buy the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of the top players in the medical supplies market. The report analyzes the medical supplies market, by type, application, end user, and region.
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the medical supplies market
• Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the medical supplies market
• Market Development: Comprehensive information about emerging markets. This report analyses the medical supplies market across geographies.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the medical supplies market