According to the report “Global Hospital Supplies Market,” published by Market Data Forecast, the global market is projected to reach USD 49.21 billion by 2021, at a CAGR of 11.80% from 2016 to 2021.
Hospital medical equipment and supplies denote the various devices, instruments and medical consumables that are utilized in hospitals and healthcare institutions. The introduction of personalized medicines concept and other diagnostics options available in the market the market for hospital supplies is continuously growing due to the high incidence rate of inflammatory and communal diseases such as pneumococcal disease and sexually transmitted diseases. Presence of various microbes, existing in the environment is the causative agent for the communal disease. Increasing aging population has also resulted in the growth of hospital supplies market.are further expected to restrain the hospital equipment and supplies market.
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Global Hospital Supplies Market: Drivers & Restraints
The growth of the Global Hospital Supplies Market is majorly driven by factors such as growing awareness about HAIs (hospital acquired infections), rising number of hospitals, aging population, increasing occurrences of communal diseases, methods such as frequent glove swapping and double gloving during procedures. Improved economic situation in the developing countries is another major factor boosting the growth of the market. However, advent of home care services, strict regulatory structure, advance of personalized medicine and drop in private health insurance are the major restraints hindering the growth of the market.
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Global Hospital Supplies Market: Segmentation
By Product Type
- Operating Room Equipment
- Sterilization & Disinfectant Equipment
- Syringes & Needles
- Patient Examination Devices
- Mobility Aids & Transportation Equipment
- Disposable Hospital Supplies
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Global Hospital Supplies Market: Overview
This market has been growing at a significant rate over the past few years. Disposable hospital supplies lead the market with a market share of 46% followed by syringes and needle segment with a market share of 23%.
Top players in the global hospital supplies market are launching technically innovative hospital supplies to help doctors better manage their patients. With an extensive category of development and investment prospects for budding players seeking to be a part of the medical device market, continual growth of the global hospital supplies market is expected.
Global Hospital Supplies Market: Region-wise Outlook
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. North America is the leading player in the global Hospital Supplies market followed by Asia-Pacific and Europe. However, the Asia-Pacific region, which comprises of countries such as China and India is projected to grow at the highest CAGR during the forecast period due to the unprecedented rate of population growth in this region.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Hospital Supplies Market outlook in worldwide?
- What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Hospital Supplies space in global?
- What are the key, high growth markets that Hospital Supplies manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Hospital Supplies currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Hospital Supplies?
- What are the challenges and barriers that have hindered widespread adoption of Hospital Supplies?
Global Hospital Supplies Market: Key Players
The major companies dominating this market are Advanced Sterilization Products Services Inc., Dickinson and Company, Cardinal Health, Inc., Kimberly-Clark Corporation, Becton, 3M Health Care, and B. Braun Melsungen AG. The top players in the global hospital supplies market are likely to face an intense competition from some of the budding companies in the coming years, exemplifying the open nature of this market.
Reasons to buy Global Hospital Supplies Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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