The medical supplies market is estimated to add extra stars of growth across the assessment period of 2018-2026 based on the increasing demand for medicines for treating many diseases and disorders. The rising prevalence of chronic diseases, infections, and lifestyle disorders are also responsible for the growth of the medical supplies market.

  • The government bodies of numerous countries have consistently increased their budgetary spending on healthcare infrastructure. With the advent of the COVID-19 outbreak, many countries have realized the need for good healthcare systems. To tackle future pandemics, large-scale investments are being made to improve the infrastructure. This aspect will have a massive impact on the growth of the medical supplies market.
  • The COVID-19 outbreak is inviting bright growth prospects for the medical supplies market. The rising number of cases and the extensive treatment needed for COVID-19 is increasing the demand for medical supplies to a considerable extent. Although logistics and supply chains have been significantly affected due to the lockdown restrictions, the growth curve will still see an upper trajectory in the coming period.
  • Investments by conglomerates and firms have been increasing substantially due to the ongoing developments in the medical supplies market. This factor will have a major impact on the growth of the medical supplies market.

Medical supplies consist of medical devices, medical apparatuses, and consumables intended for aid in diagnosis, monitoring, or treatment of medical conditions. Supply and distribution of the medical supplies are extremely important as these impact the quality of patient care, and also account for major proportion in health care costs. Rapid adoption of surgical procedures and rising incidence of chronic diseases are boosting the demand and production of various medical supplies. According to the UCSF (University of California, San Francisco), in 2014, 2 million people were estimated to be affected with end-stage renal disease (ESRD), which is likely to increase at 5% to 7% each year. In the U.S., 650,000 people are likely to get affected with end-stage renal disease every year. 

Rising incidence of diseases such as diabetes, hypertension, renal disease, cardiovascular diseases, bacterial infections, ear infections, etc. and growing old age population are driving the medical supplies market across the world. Surge in health care expenditure made by governments across countries is also expected to drive the global medical supplies market. Moreover, rise in demand of advanced surgeries and high investments made by governments are anticipated to propel the global medical supplies market during the forecast period. Increasing incidence of hospital-acquired infections is also expected to augment the growth of the global medical supplies market in the near future. Furthermore, high demand of common medical supplies such as thermometers, ophthalmoscopes, sphygmomanometers, and stethoscopes is likely to drive the market in the next few years. Cost of medical supplies has been a part of budgets of most health care organizations, which proves the rising demand for medical supplies. However, supply chain management of a hospital is a complex process, which is likely to restrain the global medical supplies market. Furthermore, product recalling and stringent regulatory compliance needed for approval of medical supplies is anticipated to hinder the growth of the market during the forecast period. Nevertheless, investments made by companies in the emerging market and increasing patient pool for surgeries are expected to present growth opportunities to the medical supplies market in the next few years. 

The global medical supplies market can be segmented based on product type, application, end-user, and region. In terms of product type, the market can be classified into disposable supplies, sterilization equipment & disinfectants, mobility aids & transportation equipment, operating room equipment, and others. Based on application, the market can be categorized into dialysis, anesthesia, cardiology, radiology, urology, respiratory, and others. The others segment includes wound care, ophthalmology, etc. The dialysis segment is expected to grow rapidly in the next few years owing to growing elderly patient population and rising cases in hypertension, diabetes, and renal diseases. In terms of end-user, the global medical supplies market can be divided into hospitals, clinics, ambulatory surgical centers, and others. The others segment includes nursing homes, assisted living centers, old age homes, etc. 

In terms of region, the global medical supplies market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global medical supplies market in 2017, and the trend is projected to continue during the forecast period owing to rising demand for medical supplies, increasing health care expenditure, and presence of innovative platforms for supplying of medical supplies in the region. Moreover, streamlining of distribution channels makes demand and supply processes easy for companies and customers, which is an important factor boosting the growth of the market in the U.S. Rise in incidence such as dialysis and transplantation surgeries is expected to drive the need for medical supplies in North America. Furthermore, growing geriatric population is driving the need of medical supplies in the region. The medical supplies market in Asia Pacific is anticipated to grow rapidly during the forecast period. Rise in health care expenditure, rapidly expanding health care industry, and high unmet needs are likely to drive the market in the region during the forecast period. Additionally, growth in geriatric population in highly populated countries of Asia Pacific is estimated to propel the growth of the medical supplies market in the region. Rise in incidence of lifestyle diseases and developing health care infrastructure are projected to boost the medical supplies market in Asia Pacific during the forecast period. 

Major players operating in the global medical supplies market include Medtronic, BD (Becton, Dickinson and Company), Medline Industries, Inc., B. Braun Melsungen AG, Thermo Fisher Scientific Inc, Cardinal Health, O&M Halyard or its affiliates, General Electric Company, Johnson & Johnson Services, Inc., Boston Scientific Corporation or its affiliates, Baxter, and 3M.

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Medical Supplies Market