Medical Supplies Market Size is Projected to Reach USD 160.6 Billion by 2025 Growing at a CAGR of 7.2% | Valuates Reports

BANGALORE, India, April 6, 2020 /PRNewswire/ -- The global medical supplies market size is expected to increase from USD 105.8 Billion in 2019 to USD 160.6 Billion by 2025, at a CAGR of 7.2 percent from 2019 to 2025.

Medical supplies is a generic term that comprises everything from the basic first-aid kit to specific tools in the medical profession. Some medical supplies are used in drug delivery procedures, such as hypodermic devices and inhalation supplies, while supplies of sterilization and infection prevention are used to prevent infection in healthcare settings. 

The key factors leading to the growth of medical supplies market size include a growing patient pool for renal diseases, rising diabetes and hypertension incidence, growing geriatric population, and rising dialysis procedures for kidney transplants. Additionally, factors such as increased number of surgeries, increased prevalence of diseases, increased geriatric population, and an increased number of hospital-acquired infections (HAIs) are driving the growth of the global demand for medical supplies.

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TRENDS INFLUENCING THE GROWTH OF MEDICAL SUPPLIES MARKET SIZE

• The growing prevalence of large-scale and small-scale disorders, fueled by ecological shifts, chronic diseases, and rising accident & injury cases, is increasing the growth of medical supplies market size.
• Increasing cases of surgical and maternity-care infections, as well as hospital-acquired infections, have contributed to increased demand for medical supplies to ensure health and hygiene. Furthermore, the medical supply market is expected to witness a huge growth due to the widespread impact of COVID-19.
• Raising numbers of surgeries will intensify the demand for surgical gowns, gloves, drapes, feeding tubes, and procedural kits and trays, which, in effect, will drive the global market for medical supplies.

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MEDICAL SUPPLY MARKET SHARE BY REGION WISE ANALYSIS

• North America, led by wide accessibility to healthcare goods & services, is expected to dominate the global medical supplies market. Factors such as wide adoption of new technologies and an increasing focus on providing cost-competitive supplies promote regional business growth.
• The Asia Pacific is expected to be the fastest-growing region during the forecast period due to factors like growing geriatric population, increasing incidence of diseases, rising medical tourism industry, and improving healthcare infrastructure.
• Factors including increasing healthcare spending, adoption of new technology, and involvement of global players promote the growth of the European medical supplies market.

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MEDICAL SUPPLIES MARKET SEGMENTATION

Medical Supplies Market by the type, the market is primarily split into

• Diagnostic Products
• Dialysis Consumables
• Trauma Care Consumables
• Radiation Related Consumables
• Infusion Related Products.

Medical Supplies Market by the application, this report covers the following segments

• Hospital
• Clinic
• Nursing Home.

The Medical Supplies key manufacturers in this market include:

• Medtronic
• Cardinal Health
• Becton, Dickinson
• Johnson & Johnson
• Braun Melsungen
• Boston Scientific
• Thermo Fisher Scientific
• Baxter International
• Halyard Health
• 3M
• Others.

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Devices that are specifically designed for medical use are classified as medical devices. Medical devices vary based on complexity and applications and are used in surgery, treatments and diagnosis.

The rising penetration of medical devices in developing countries has a positive effect on the demand for medical devices, as such products have relatively high operating margins across the industry's numerous subsectors. Based on market research it can be found that medical devices are more attractive to investors in developing countries as opposed to developed countries.

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Homecare medical equipment (HME) refers to medical devices that are used to provide patients with a safe, comfortable, cost-effective, and adequate environment. Such tools make it easier for patients to recover by enhancing their quality of life.

Factors expected to increase the homecare medical equipment market size are prevalence of chronic diseases and an increase in the number of geriatrics. In addition, HME's cost and technical developments are expected to drive market growth. 

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Medical equipment are devices specifically designed for the purpose of diagnosing and treating illness; it may be used either alone or in conjunction with any medical equipment component, consumable or other. Technical advances such as the launch of modern laser therapy to treat diseases with higher accuracy are expected to drive demand for the medical equipment market. 

This report studies the global market status and forecast for medical equipment, categorizing the global market size for medical equipment by key players, type, application, and area. This study focuses on North America, Europe, Asia-Pacific, South America, and the Middle East & Africa's top players.

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• Hospital Supplies Market Report

Factors such as increased incidences of infectious diseases and increased public awareness of patient-acquired infections contribute to the overall demand for hospital supplies. The global demand for hospital supplies is also on the rise in developing countries. Countries like Brazil and India are slowly raising their hospital bed density figures on a global scale.

The global hospital supplies market report studies the market size by players, countries, product types and end industries, historical data 2014-2018, and forecast data 2019-2025. Furthermore, the report analyses the global competitive environment, market drivers and patterns, opportunities and challenges, risks and entry barriers, distribution channels, distributors, and Porter's Five Forces Analysis.

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