The industry of medical supplies consists of players engaged in distribution and manufacturing of basic clinical products including surgical knives, gloves, syringes, forceps, dressings and bandages, equipment of medical laboratory, dental drills, stethoscopes, veterinarian instruments, x-ray films, and other associated supplies. Medical supplies do not include distribution and manufacturing of technologically advanced medical equipment along with drug retail sales. Vendors and adopting several strategies within this industry for optimizing profits. Companies with the equipment supplies including dental devices and interventional cardiology devices need huge capital expenditures as well as generation of revenue for its existence within the medical supplies market. These are high-tech products and large capital is spent on activities of R&D for maintaining a steady tower of novel offerings. However, the profitability of companies supplying disposable items including surgical gloves and syringes, dependents upon procedure volume, specifically in hospitals. Therefore, it does not need capital expenditures in substantial amounts. Hence, availability of advanced in technology and effective products along with rise in investments within healthcare field is expected to fuel growth of the global medical supplies market over the forecast period.
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Global Medical Supplies Market Drivers
Rising number of hospitals, outpatient, and surgical procedures, along with reinforcement and upgradation of standards of infection prevention is expected to increase the medical supply adoption, which in turn, is expected to fuel growth of the global medical supplies market during the forecast period. For instance, Kuwait Ministry of Health and Public Works, in 2012, declared a grant worth US$ 4.4 Bn for replacing and expanding nine functioning hospitals, which will be providing over 150 operating rooms, 500 outpatient clinics, and 5,400 beds, is expected to develop conducive environment for the global medical supplies market growth.
Rising number of people who need surgery or long-term therapy, drug delivery, along with related products are expected to surge the medical supply demands, in turn expected to drive growth of the global medical supplies market over the forecast period. The use of devices with enhanced safety for minimally-invasive administration of IV solutions, inhalation therapies, and parenteral medicines, is expected to drive growth of the global medical supplies market over the forecast period. Rising incidence of chronic conditions including cancer, neurological disorders, gynecological disorders, and heart disorders, will result in an upsurge in hospitalizations, thereby raising the medical supply demands. For instance, as per the Centers for Disease Control and Prevention (CDC), in 2015, over 800,000 U.S. populace died due to stroke as well as other cardiovascular conditions. Through ageing demographic, there’s a major drive for developing devices that could both help to treat age-related diseases along with early diagnosis of chronic diseases. In 2017, as per the United Nations Organization, over 962 Mn individuals aged 60 years and above worldwide accounting for 13% of global population are present, which is growing continuously at a 3 % annual rate. Presently, Europe has largest percentage of geriatric population (25%) in same year.
Global Medical Supplies Market Restraints
Rising competition among players for competing within market, as it is fragmented into several large and small scale companies, is expected to restrain growth of the global medical supplies market over the forecast period. Vendors constantly cutting prices of legacy products for retaining the share in market, support production net profit, and volume. Majority of disposable products which aren’t protected by the patents are expected to open the competition. Hence all such factors are expected to restrain growth of the global medical supplies market over the forecast period. For overcoming these factors, players need to enhance their already present products in the market with technologies and may boost spending on R&D for overcoming any technological shortcomings.
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Global Medical Supplies Market – Regional Analysis
Based on region, global medical supplies market is segregated into North America, Europe, Latin America, Asia Pacific, Africa, and Middle East. Medical supply demand in the U.S., Japan, Western Europe, and many other developed regions will rise at a slow speed, as the medical supplies there are already well-established, having adopted stringent standards for infection prevention for meeting the healthcare requirements of people. On the contrary, growth within the BRIC (Brazil, Russia, India, and China) nations and several other emerging economies is expected to rise as healthcare sectors are expanding, modernized, and adapting with formal protocols of infection prevention.
Global Medical Supplies Market – Competitive Landscape
Major players functioning in the global medical supplies market are B. Braun Melsungen AG, Dickinson and Company, Becton, Cardinal Health, Inc., Johnson & Johnson, Halyard Health, Inc., Thermo Fisher Scientific Inc., Baxter International Inc., 3M Company, Boston Scientific Corporation, and others. Major players are focused on adopting strategies of inorganic growth such as acquisitions and mergers for retaining their market position. For instance, Becton Dickinson, in 2017, acquired C.R. Bard, Inc., where both players will work at improving the disease treatments for patients along with process of care for the health-care providers. Moreover, B. Braun Melsungen AG, in April 2018, started five enhanced and new production plants as well as other administrative facilities in Penang for manufacturing medical devices of surgical instruments and infusion therapy to treat patients within Malaysia and the globe.
Reasons to Purchase this Report
• To gain an in-depth understanding of Medical Supplies market globally
• To identify the on-going trends and anticipated growth in the next nine years
• To help industry consultants, Medical Supplies market other stakeholders align their market-centric strategies
• To obtain research-based business decisions and add weight to presentations and marketing strategies
• To gain competitive knowledge of leading market players
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Table of Content
Global Medical Supplies Market Research Report
Section 1: Global Medical Supplies Industry Overview
Section 2: Global Economic Impact on Medical Supplies Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Medical Supplies Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Medical Supplies Market Forecast
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