Medical supplies market is expected to witness growth in upcoming years due to factors such as rise in chronic and infectious diseases and increase in prevalence of epidemic and pandemic diseases across the globe.
Medical supplies include disposable products or one -time use products that are used during the surgeries and other medical procedures. These products can be used only for a single time. Medical supplies are instruments and devices which are manufactured and distributed to healthcare facilities to ensure safety. It has usage in hospitals, nursing home, clinics, ambulatory surgery centers and assisted living centers. Medical instruments that are used as medical supplies include a blood processing devices, wound care instruments, monitoring instruments and personal protective equipment. Advancements made in the technology have contributed for innovation in the medical devices and instruments field.
COVID-19 scenario analysis:
To take care of infected population, the demand for medical supplies is increasing. Respiratory support devices such as atomizer, life-support machine, oxygen generator, and monitor are among the majorly used medical devices in primary clinical treatment. Moreover, COVID-19 has led to a huge surge in demand for medical supplies such as personal protective equipment including masks, gloves, and protective eyeglasses. With rise in number of COVID-19 cases worldwide, the need for medical supplies keeps on rising among, both from healthcare professionals and civil population for precautionary measures. Manufacturers of these products have a chance to capitalize this increased demand of medical supplies to ensure adequate and continuous supply of personal protective equipment in the market. Considering these factors, COVID -19 is expected to have significant impact on the medical supplies market.
Top Impacting factors:
- Factors such as rise in prevalence of chronic diseases across the world and increase in prevalence of epidemic and pandemic diseases is expected to boost the growth for the medical supplies market.
- Increase in government and private investments into healthcare projects and infrastructure development are expected to drive the market growth in future.
- Demand for controlling infection measures for hospital acquired infections and rise in rate of surgical procedures has increased the market growth for medical supplies.
- Increased geriatric population and rise in road accidents and injuries is expected to boost the growth for the market.
- However, factors such as stringent regulatory measures and compliances for medical supplies and increase in product recalls is expected to hamper the growth for the medical supplies market up to some extent during the forecast period.
New Product Launch / News:
- In 2020, Fresenius Medical Care AG & Co. KGaA made a USD 33.7 million expansion of its transfusion and apheresis disposables plant in the Dominican Republic. The new facility includes advanced production equipment, plasma kit assembly lines, and sterilization units that double the cleanroom and storage capacity.
- In June 2020, The African Union Commission received medical supplies from the Kingdom of Morocco that will boost the continental capacity to respond to the COVID-19 pandemic.
- In 2020, Apyx Medical Corporation, manufacturer of medical devices and supplies and the developer of Helium Plasma Technology, marketed and sold as Renuvion in the cosmetic surgery market and J-Plasma in the hospital surgical market, announced that the Company has obtained regulatory approval to market and sell its Helium Plasma Technology products in five new countries.
Key benefits of the report:
- This study presents the analytical depiction of the medical supplies market along with the current trends and future estimations to determine the investments.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the medical supplies market share.
- The current market is quantitatively analyzed to highlight the market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed medical supplies market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the Medical Supplies Market Report:
- What are the leading market players active in the medical supplies market?
- What the current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in taking further strategic steps?
- What segments and region will drive the medical supplies market growth & why?
Medical Supplies Market Report Highlights
By End Users
Key Market Players
B. Braun Melsungen AG, Boston Scientific Corporation, Cook Medical, BD, Smith & Nephew, Thermo Fisher Scientific, Inc, Stryker, ConvaTec Group Plc., Teleflex Incorporated, Cardinal Health, Inc., Avanos Medical, Inc., Abbott, Merit Medical Systems, Johnson & Johnson, Fresenius Medical Care AG & Co. KGaA, Coloplast Group., Baxter International, Inc, 3M, Medtronic, Terumo Corporation