Chicago, Aug. 05, 2022 (GLOBE NEWSWIRE) — The medical supplies market is expected to grow from USD 138.4 billion in 2022 to USD 163.5 billion by 2027, at a CAGR of 3.4% from 2022 to 2027 according to a new report from MarketsandMarkets™. The growth of this market can be attributed to the expanding geriatric population, increasing investment in research, high volume of surgical procedures, and high prevalence of chronic diseases.
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In 2021, intubation and ventilation supplies accounted for the largest share of the medical supplies market, by type.
By Type, the medical supplies market is segmented into diagnostic supplies, dialysis consumables, wound care consumables, radiology consumables, disinfectants, infusion and injectable supplies, intubation and ventilation supplies, personal protective equipment , sterilization consumables, catheters, sleep apnea consumables and other medical equipment. In. The intubation and ventilation supplies segment held the highest share, which is attributed to its massive demand amid the novel coronavirus outbreak. The overwhelming influx of COVID-19 patients has created a huge demand for intubation and ventilation supplies which has fueled the market share.
By other application accounted for the largest market share in 2021.
Based on application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, IVD and other applications. The other application segment held the largest share. Other application areas include dentistry, neurology, gastroenterology, orthopedics and waste management applications. The segment market share is driven by high number of surgeries and increasing prevalence of neurological disorders, dental diseases, gastrointestinal disorders and others.
By end user, hospitals accounted for the largest market share in 2021.
Based on end-user, the market is segmented into hospitals, clinics/doctor’s offices, and other end-users. In 2021, the hospital segment accounted for the largest market share. This can be attributed to increased investment in healthcare and state-of-the-art infrastructure.
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North America was the largest regional market for the medical supplies market in 2021.
The medical supplies market is segmented into five major regions, namely North America, Europe, Asia Pacific and Rest of the World. North America held the largest market share in 2021, followed by Europe. The largest North America market share is driven by high incidence of strong presence of industry players, high prevalence of chronic and infectious diseases and advanced healthcare infrastructure in the region.
Some of the major players operating in the medical supplies market are Medtronic plc (Ireland), Cardinal Health (US), BD (US), Johnson & Johnson, Inc. (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US ), Thermo Fisher Scientific, Inc. (USA), Baxter (USA), 3M (USA), Smith & Nephew (Ireland), Convatec Inc. (UK), Abbott (USA) , Cook Medical (USA), Merit Medical Systems (USA), Stryker (USA), Terumo Corporation (Japan), Teleflex Incorporated (USA), Fresenius Medical Care AG & Co. KGaA (Germany) , Coloplast Group (Denmark), Hamilton Medical (Switzerland), ACell, Inc. (USA), Invacare Corporation (USA), Medline Industries, LP. (USA), DeRoyal Industries, Inc. (USA), Shenzhen MedRena Biotech Co., Ltd. (China), Kerecis (USA) and Whiteley (Australia).
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Infection Control Market by product [Sterilization (Steam, Hydrogen Peroxide, EtO), Disinfection (Wipes, Liquids, Disinfectors), Services, E-beam, Face Masks]End user (Hospitals, Pharmaceutical companies) (2022 – 2026)