As per in-depth industry analysis by Fact.MR, a market research and competitive intelligence provider, Medical Disposables Market is expected to increase at a CAGR of 7.3% over the forecast period (2022-2026).
Products designed to be used only once or temporarily to provide high-quality patient care are referred to as medical disposables. These single-use items, which can substitute equipment that requires a lengthy sterilization process, include gloves, face masks, blood bags, and needles. The production of medical disposables is not only influenced by cost but also by other elements such as efficiency, safety, lifespan, and substance. Medical disposables are very easy to use and don’t need to be sanitized because they are only meant to be used once.
Medical disposables are increasingly needed to ensure safety and hygiene due to an increase in infections acquired in hospitals as well as illnesses during operations and maternity care.
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Extended diabetes causes diabetic foot ulcers, which increases hospital stays in turn. This will have a positive impact on the market growth throughout the forecast period. Additionally, it is anticipated that the market will expand due to the growing older population across the world.
Key Takeaways from Market Study
- The global medical disposables market is predicted to reach US$ 510 billion by 2026.
- Market in Germany is projected to increase at a CAGR of 8.5% through 2026.
- Market in Canada is anticipated to increase at a CAGR of 8% over the forecast period.
- Demand for bandages & wound dressings is expected to rise at a CAGR of 6.5% from 2022 to 2026.
Winning Strategy
Market players are putting efforts into developing unique items that garner more attention from all over the world. Key companies are also implementing a variety of techniques to improve their position in the market for medical disposables. Such initiatives by major firms are projected to fuel market expansion over the coming years.
- Consis Medical offers self-propelled, one-time-use endoscopes. With its semi-disposable design, the endoscope has a sanitized device head after each usage. The sleeve is inflated and the device moves it along the intestine. When that happens, the sleeve cartridge is discarded and prepared for endoscopic treatments right out of the box.
Market Developments
“Emerging Market Players Focusing on Manufacturing Modern & Cost-effective Products”
Emerging market players are developing disposable forceps, blades, and other devices as costs for medical device production have decreased. Additionally safe and pre-sterilized, disposable medical equipment helps hospitals and patients cut expenditures.
New companies are concentrating on the release of advanced and affordable products. New entrants build strategic alliances with leading competitors to make a mark in the industry.
- Vortex Surgical, a start-up based in the U.S., offers cutting-edge surgical tools for ophthalmologic operations. The disposable ACTU8 forceps include a quick, low-profile handle for fine control. The forceps have a high-visibility layout, a glare-free finish, and a textured platform for simple handling. The company’s forceps in particular assist eye surgeons in precisely manipulating the epiretinal membrane and internal limiting membrane.
Competitive Landscape
Top companies in the medical disposables market are strategically choosing to engage in mergers and acquisitions to diversify their product offerings and increase their market share. Suppliers of medical disposables are concentrating on business growth and other tactics to increase their market share globally.
For instance:
In 2021, for its brand-new single-use bronchoscope, PulmoONE, PENTAX Medical Europe, a business that serves the endoscopy industry, received the CE mark. HD image quality and a strong suction force are two features of the single-use bronchoscope PulmoONE.
Key Companies Profiled
- 3M Company
- Bayer AG
- Abbott laboratories
- Johnson & Johnson
- Ansell Limited
- Minnesota Mining
- Boston Scientific Corporation
- Kinetic Concepts
- Medtronic plc
- Derma Sciences Incorporated
- Medline Industries Inc.
- Cardinal Health, Inc.
Check Out More Related Studies Published By Fact.MR Research:
Medical Flexible Packaging Market – The extensive use of flexible packaging solutions in the pharmaceutical and medical sectors is driving the market growth. Owing to the low weight, product variety, less requirement of the raw material coupled with easy disposal is expected to support market demand by 1.4X in forecast years of 2022-2032.
Medical Beds Market – The global medical beds market amassed revenue worth US$ 3.8 Bn in 2020. Fact.MR, a market research and competitive intelligence provider, has recently published a revised analysis, which estimates the market to rise at a CAGR of 3.7% and be valued at around US$ 5.5 Bn by 2031.
Medical Superabsorbent Polymers Market – Fact.MR estimates medical superabsorbent polymers market value to reach USD 5,663 Million valuation by 2032 end, and shall account for nearly 30% of the overall superabsorbent polymer sales value during the same period.