Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Disinfectants, PPE, Radiology, Sterilization, Catheters), Application (Urology, Cardiology, Infection Control), End User (Hospitals, Clinics & Physician Offices) - Global Forecast to 2025
“The global medical supplies market is projected to grow at a CAGR of 4.6% during the forecast period”
The global medical supplies market is projected to reach USD 133.5 billion by 2025 from USD 132.6 billion in 2020, at a CAGR of 4.6%. Growth in this market is driven by the increasing prevalence of chronic diseases across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, rising demand for infection control measures to curb the occurrence of HAIs, and the rising demand for medical devices. On the other hand, product recalls, stringent regulatory requirements for the approval of medical supplies, and the imposition of trade restrictions are hampering the growth of this market.
“The catheters segment held the largest share of the medical supplies market in 2019”
The medical supplies market, by type, is categorized into diagnostic supplies, infusion & injectable supplies, intubation & ventilation supplies, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies. The catheters segment held a considerable share of this market in 2019, owing to the high and growing prevalence of chronic diseases, coupled with the launch of innovative products in the market.
“The respiratory segment is estimated to grow at a rapid rate during the forecast period”
Based on application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The respiratory segment is estimated to grow at a significant rate during the forecast period, owing to the increasing prevalence of respiratory diseases such as COPD and asthma across the globe.
“Hospitals accounted for the largest share of the medical supplies market, by end user, in 2019”
The end user segment of this market is categorized into hospitals, clinics/physician offices, and other end users. The hospitals segment is estimated to grow at the highest CAGR during the forecast period. This can be attributed to the increasing investments in healthcare systems and the high prevalence of infectious and chronic diseases.
“Asia Pacific is the fastest-growing regional market for medical supplies”
Geographically, in 2019, the medical supplies market was dominated by North America, followed by Europe. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. The rising geriatric population, growth in the medical tourism industry, and the increasing prevalence of chronic medical conditions are the major factors driving the demand for medical supplies in the Asia Pacific market.
Breakdown of the Profiles of Primary Participants:
By Company Type: Tier 1: 32%, Tier 2: 44%, and Tier 3: 24%
By Designation: C-level: 30%, Director-level: 34%, and Others: 36%
By Region: North America: 40%, Europe: 28%, Asia Pacific: 20%, and the Rest of the World: 12%
The key players operating in the medical supplies market include Medtronic (Ireland), Cardinal Health, Inc. (US), BD (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (US), Baxter International, Inc. (US), Avanos Medical, Inc. (US), 3M (US), Smith & Nephew (Ireland), ConvaTec Group Plc. (UK), Abbott (US), Cook Medical (US), Merit Medical Systems (US), Stryker (US), Terumo Corporation (Japan), Teleflex Incorporated (US), Fresenius Medical Care AG & Co. KGaA (Germany), and Coloplast Group (Denmark).
The report analyzes the medical supplies market by type, application, end user, and region. Apart from comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by market players over the last three years. In addition, the company profiles include the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of 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 to remain successful in the market.
Key Benefits of Buying the Report:
This report will enable both established firms and 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 strategies for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the products of major players operating 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: Detailed information about emerging markets
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the medical supplies market
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