Medical Disposables Market: Current Analysis and Forecast (2021-2027)
The global medical disposables market is anticipated to grow with an elevated CAGR of around 7% during the forecast period (2021-2027). Medical disposables are devices that are meant to be used temporarily or only once such as surgical wear, hygiene, anesthesia, surgical masks, and pediatric among others. These products are used in hospitals or in various medical fields for the prevention of infections and for safety measures to meet the medical standards and have wide applications in the healthcare industry.
With the rapid increase in hospitalization, rising chronic diseases, and the number of surgeries because of this, the repositioning from the use of reusable medical devices to disposable medical supplies lowers the risk of spreading infection and surgical-site infections are some of the important factors that are driving the medical disposables market. For instance, As per the 2021 CDC Report, 6 in 10 Americans live with at least one chronic disease, such as cancer, stroke, and diabetes, which will push the demand for disposable medical disposable products across the healthcare setting. Furthermore, the increasing prevalence of hospital-acquired infections is also likely to add push to the industry dynamics. Therefore, the market for medical disposables is expected to witness significant growth during the forecast period.
Furthermore, the demand for medical disposables is increasing on account of the growing number of people having chronic disorders. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Thus, Prolonged diabetes leads to diabetic foot ulcers, which in turn increases the duration of hospital stay, rendering a positive impact on the market growth of medical disposables over the forecast period. This global estimate for disability is on the rise due to population aging and the rapid spread of chronic diseases, as well as improvements in the methodologies used to measure diseases.
Medline Industries Inc., Smith & Nephew PLC, Bayer AG, BD, 3M, Cardinal Health, Abbott Laboratories, Johnson & Johnson, Medtronic Incorporated, Boston Scientific Corporation are some of the prominent players operating in the medical disposables market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with new varieties of medical disposables devices.
Insights Presented in the Report
"Amongst Product, wound management supplies segment holds the major share”
Based on product =, the medical disposables market is segmented into wound management supplies, drug delivery disposables, non-woven medical disposables, and other disposables. The wound management supplies segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. The growth of this segment can be attributed to the popularity of these medical disposables among the elderly population. For instance, as per the CDC, about one in 25 hospital patients contracts at least one hospital-acquired infection (HAI) every year. Furthermore, they can prevent bacterial and other microbial infections from entering a patient’s body. Thus, surgeons recommend patients wear disposable gowns before medical procedures However, the non-woven medical disposables segment is also anticipated to grow with the lucrative CAGR in the upcoming years.
"Amongst End-Users, hospitals & clinics segment holds the major share”
Based on end-users, the medical disposables market is divided into hospitals & clinics, ambulatory surgical centers, home care settings, and others. The hospitals & clinics segment is anticipated to grow at a rapid rate in the upcoming years owing to the increasing preference of consumers to get treatment in hospitals mainly due to the well-established healthcare infrastructure, and presence of highly skilled healthcare professionals. Furthermore, the presence of several advanced types of equipment in hospitals, such as surgical instruments, gloves, face masks, blood bags, needles, and others that can increase the number of medical disposables is also one of the reasons why hospitals and clinics dominate the segment over the forecast period.
"North America represents one of the largest markets of Medical disposables market”
For a better understanding of the market dynamics of the medical disposables market, a detailed analysis was conducted for different regions across the globe including North America (U.S, Canada, and the Rest of North America), Europe (Germany, France, Spain, United Kingdom, Italy, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America grabbed a significant market share of the global medical disposables market in 2020, and it is expected to grow with considerable CAGR during the forecast period (2021-2027F). The major factors such as favorable government initiatives, increased number of patients and growing awareness regarding infection control in medical and healthcare fields are some major factors contributing to the domination of North America in the global medical disposables market. Furthermore, the rising geriatric population and chronic disorders are expected to fuel the growth of the medical disposables market.
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