Growing prevalence of acute and chronic diseases, increasing rate of hospital admissions, and rising demand for medical supplies are some of the key factors driving market revenue growth
According to Emergen Research, the global medical supplies market size was USD 132.26 billion in 2020 and is expected to reach USD 189.03 billion in 2028 and register a revenue CAGR of 4.5% during the forecast period, 2021-2028.
Market Dynamics:
The global medical supplies market revenue growth is significantly driven by numerous favorable factors such as increasing prevalence of acute and chronic diseases, including infectious, respiratory, urological, cardiac, and oncological diseases; growing inclination towards unhealthy lifestyle habits such as smoking, alcoholism, and excessive consumption of junk food; increasing patient pool; and unprecedented surge in demand for medical supplies including disinfectants, personal protective equipment (PPE), and other disposable hospital supplies.
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Rising incidences of road accidents and injuries, increasing volumes of surgical procedures, technological advances in diagnostic and surgical equipment, and rise in research & development activities in the healthcare industry are other key factors contributing to the global medical supplies market revenue growth. Furthermore, rapidly advancing global healthcare infrastructure and increasing government investments in the healthcare sector are expected to boost revenue growth of this market.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Disinfectants Segment Accounted for Largest Revenue Share in 2020:
Based on type, the disinfectants segment dominated other segments in terms of revenue share in the global medical supplies market in 2020. Factors supporting revenue growth of this segment are increasing cases of infectious diseases including COVID-19, rapidly growing rate of hospital admissions, rising incidence of hospital-acquired infections (HAIs), and growing demand for disinfectants including hand sanitizers and surface disinfectants. Growing public awareness about hygiene and sanitation and advancements in disinfectant products in terms of quality, function, and effectiveness are other factors driving the growth of this segment.
Other Applications Segment to Account for Fastest Revenue CAGR over the Forecast Period:
Based on application, the other applications segment is expected to register fastest revenue growth rate in the global market over the forecast period. Rising prevalence of acute and chronic disorders, increasing number of surgical procedures in hospitals and ambulatory surgical centers, increasing adoption of technologically advanced medical equipment, and increased government spending on healthcare infrastructure development are key drivers for the growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America medical supplies market held the largest revenue share in the global market in 2020 due to many favorable factors. The regional market growth is mainly attributed to growing prevalence of acute and chronic illnesses, increasing patient pool, rising demand for medical supplies in hospitals, clinics, ambulatory surgical centers, and medical research centers, and presence of state-of-the-art healthcare infrastructure and leading industry players in the region, including Johnson & Johnson, Cardinal Health, Inc., Thermo Fisher Scientific, Abbott Laboratories, and Boston Scientific Corporation.
Major Companies in the Global Medical Supplies Market Include:
- Medtronic Plc
- Cardinal Health, Inc.
- Johnson & Johnson
- Braun Melsungen AG
- Boston Scientific Corporation
- Thermo Fisher Scientific
- Baxter International, Inc.
- Avanos Medical, Inc.
- 3M
- Smith & Nephew
- ConvaTec Group Plc.
- Abbott Laboratories
- Cook Medical
- Merit Medical Systems
- Stryker
- Terumo Corporation
- Teleflex Incorporated
- Fresenius Medical Care AG & Co. KGaA
- Coloplast Group
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For the purpose of this report, Emergen Research has segmented the global medical supplies market on the basis of type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
- Patient Examination Devices
- Operating Room Equipment
- Mobility Aids and Transportation Equipment
- Diagnostic Supplies
- Blood Collection Consumables
- Others
- Infusion & Injectable Supplies
- Intubation & Ventilation Supplies
- Disinfectants
- Hand Disinfectants
- Skin Disinfectants
- Surface Disinfectants
- Instrument Disinfectants
- Personal Protective Equipment
- Protective Clothing
- Hand & Arm Protection Equipment
- Eye & Face Protection Equipment
- Foot & Leg Protection Equipment
- Surgical Drapes
- Others
- Sterilization Consumables
- Wound Care Consumables
- Advanced Wound Dressings
- Surgical Wound Care
- Traditional Wound Care
- Dialysis Consumables
- Hemodialysis Consumables
- Peritoneal Dialysis Consumables
- Radiology Consumables
- Catheters
- Cardiovascular Catheters
- Intravenous Catheters
- Urological Catheters
- Specialty Catheters
- Neurovascular Catheters
- Sleep Apnea Consumables
- Disposable Hospital Supplies
- Other Medical Supplies
Application Outlook (Revenue, USD Billion; 2018-2028)
- Urology
- Wound Care
- Radiology
- Respiratory Disease
- Infection Control
- Cardiology
- In Vitro Diagnostics
- Other Applications
End-use Outlook (Revenue, USD Billion; 2018-2028)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Medical Research Centers
- Others
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By Region (Revenue, USD Billion; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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