Europe Hospital Supplies Market - Segmented by Product Type and Geography - Growth, Trends, and Forecast (2018 - 2023)
The European hospital supplies market is expected to witness a CAGR of 11.8% during the forecast period (2018-2023). Germany has the highest market share in the region, followed by the UK and France.
Increasing Healthcare Expenditure
The European market has seen tremendous growth in the hospital supplies market and it holds the third largest place in the global market with a share of 22%. Germany has a long history of manufacturing the high-quality medical equipment which covers approximately 30% of the European market. The strong healthcare system, in terms of the infrastructure, hospital beds, hospital supplies, and equipment, etc., helped the German market to account for the highest market share. There is a well-established infrastructure of the hospitals in the European countries which helps in the growth of the European hospital supplies market.
The other major factors are growing in the awareness about HAIs (Hospital Acquired Infections), increasing spending on healthcare in Europe, increasing aging population, and rising occurrences of the communal diseases, among others.
The European market has stringent regulations which lead to the lengthy approval process of the medical devices, and this causes a huge capital investment from key players in the stringent regulatory device approval process. Due to these long regulatory process the cost of the medical devices increases, which ultimately acts as a barrier for the hospital supplies market.
The other factors, like the introduction of the home care services and a drop in private health insurance, are the major factors restraining the growth of the market.
Germany the Leading Market
The European market report has been segmented into Germany, U.K, France, Spain, Italy, and the rest of Europe. Geographically Europe holds the position of the third largest market share, and Germany is the largest market share holder for the hospital supplies in the region, followed by UK and France.
Key Developments in the Market
January 2017: B. Braun Melsungen AG acquired the company Prolabor GmbH. The company prolabor GmbH supplies the outpatient market in a large area of Osnabruck with products and services in the areas of patient and doctor.
Major Players: ADVANCED STERILIZATION PRODUCTS SERVICES INC., BECTON DICKINSON & COMPANY, CARDINAL HEALTH INC., KIMBERLY-CLARK CORPORATION, 3M HEALTH CARE, AND B. BRAUN MELSUNGEN AG, amongst others
Reasons to Purchase this Report
Current and future global European hospital supplies market outlook in the developed and emerging markets
Various perspectives of the market, with the help of Porter’s five forces analysis
The segment expected to dominate the market
The region expected to witness the fastest growth rate during the forecast period
The latest developments, market shares, and strategies that are employed by the major market players
3 months analyst support, along with the Market Estimate sheet (in Excel)
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook