Market Research Future reveals in a detailed analysis that the global medical supplies market can reach up to a valuation of USD 132 billion during the forecast period (2013-2022).
Key Players for Global Medical Supplies Market
The compact market is expanding where lots of mergers and acquisitions are taking places. For instance, Boston Scientific Corporation is planning to buy their remaining stake in Cryterion Medical, a startup that focuses mainly on developing a treatment for irregular heartbeats. On the other hand, Medtronic is planning to acquire Covidien who are renowned medical suppliers.
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Some of the key players in this market are
- Boston Scientific Corporation (U.S.),
- Medtronic plc (Ireland),
- B. Braun Melsungen AG (Germany),
- 3M Company (U.S.),
- Thermo Fisher Scientific Inc. (U.S.),
- Johnson & Johnson (U.S.),
- Baxter International Inc. (U.S.), and
- Halyard Health, Inc. (U.S.) and others.
Medical Supplies Industry Trends:
Vaccination programs are all the more encompassing as recent outbreaks of diseases such as Ebola and Zika have killed thousands. These have forced many companies into adopting or creating medical supplies to support the process. For instance, innovators are developing medicines that can be oral, edible and mucosally delivered vaccines. On the other hand, intranasal vaccines, and vaccine chips are being developed that can influence the market.
Gore has developed a molding & occlusion balloon that can open up self-expanding stent grafts or to temporarily occlude wide vessels.
Medical Supplies Market – Sketch
Globally the market for medical supplies is increasing at constant rate. Medical supplies comprises disposable products or one time use products. These products are intended for single use only. The major market drivers in this sector are growing population of geriatrics, rising number of patients with chronic diseases like cardiovascular, renal, diabetes, hypertension and others. Safety-enhanced devices for the minimally invasive delivery of parenteral medicines, inhalation therapies, and IV and dialysis solutions will lead growth.
Latest technical developments such as minimally invasive surgeries are creating an open ground for medical supplies to fill in the gap and expand the business. The last to impact the most this sector is the prevalence of chronic diseases. But medical supplies are substantially backing up the healthcare system in resisting the onslaught of these issues. In the process, the market is also increasing.
Segments for Global Medical Supplies Market
The global medical supplies market can be segmented by type, application, and end-users.
Based on type, the market can be segmented into infusion products, blood collection tubes, wound care products, dialysis consumables, surgical drapes, adult incontinence products, blood glucose test strips.
Application-wise segmentation includes urology, wound care, anesthesia, and sterilization.
Based on end-users, the market comprises hospitals, clinics, and nursing homes.
Regional Analysis for Global Medical Supplies Market
Region-specific analysis of the market comprises namely North America, Asia Pacific (APAC), Europe, and the Middle East & Africa (MEA).
North America is reigning supreme as the major market players are mainly based out of this region. The region has a highly advanced setup for healthcare, and the technical expertise of the professionals is commendable which is helping the region to emerge as the best market. Europe is fast catching up as the region shows similar traits in implementing advanced technologies.
The APAC is the fastest growing region as the emerging economies are investing heavily in the healthcare sector. Furthermore, many countries in the region have upped their status as a medical tourism destination which is also influencing the growth of the said market in the region. However, the MEA will have only a steady growth as the region has limited healthcare expansion due to lack of infrastructure.
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