Disposable Medical Supplies Market to boost the Value to $80,252 Million by 2023

According to a new report published by Allied Market Research, titled, Disposable Medical Supplies Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global disposable medical supplies market was valued at $48,630 million in 2016, and is projected to reach $80,252 million by 2023, growing at a CAGR of 7.3% from 2017 to 2023. The dialysis consumables segment accounted for about one-fourth share of the global market in 2016.

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Disposable medical supplies are disused or discarded after each use with medical supplies such as gloves, hypodermic needles, syringes and applicators. These medical supplies are essential to reduce the risk of hospital infection, needle stick injuries and other infectious diseases. These items are prescribed or ordered by a physician and are used primarily for medical purposes in a medical setting as well as at home.

The increase in the incidence of chronic diseases and the increase in surgical procedures worldwide are expected to complement market growth. For example, in the United States alone, there are about 4.2 million surgeries using various disposable medical supplies. However, wastes resulting from unwarranted reimbursement of these products and disposable products are expected to cause significant growth constraints. In addition, an increase in robot assisted surgery and an increase in investment by developing countries in the medical sector can serve as an opportunity to expand the market.

The nonwoven medical supplies sector is expected to grow to an important CAGR during the forecast period due to its widespread use in healthcare environments. These products outperform popular fabrics because they are hygienic and can effectively avoid contamination and infection. Cardiovascular disease dominates the global disposable medical supplies market, which accounts for one-half of the overall market in 2016. This increases the number of diagnostic and surgical procedures because of the high frequency of various types of cardiovascular disease occurring worldwide. It uses disposable medical supplies. Of the end users, hospitals accounted for the highest percentage of sales in 2016, with a share of 1/3, which is expected to continue throughout the forecast period.

Key Findings of the Disposable Medical Supplies Market:

• The infusion products segment accounted for about one-sixth share of the total market in 2016, and is expected to register a high CAGR of 9.0% from 2017 to 2023.
• The gynecology segment accounted for one-sixth share of the total market and is expected to grow at a CAGR of 7.5%.
• U.S. dominated the North American disposable medical supplies market and is projected to grow at a CAGR of 6.0%.
• India is the fastest growing country in the Asia-Pacific disposable medical supplies market during the forecast period, registering a CAGR of 9.4%.
• Ambulatory surgery centers accounted for one-fourth market share in 2016, and are expected to grow at a CAGR of 7.4%.

Asia-Pacific is expected to witness highest growth rate throughout the forecast period, and is expected to continue this trend, owing to high population density in countries such as India and China. In addition, rapid growth in geriatric population and increase in number of chronic diseases in the developing economies boost the market growth.

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The key players operating in the global disposable medical supplies market are Abbott Laboratories, Bayer AG, Becton, Dickinson, and Company, Cardinal Health Incorporated, Domtar Corporation, Medtronic plc, 3M Company, Braun (B.) Melsungen AG, Terumo Corporation, and Smiths Group plc. Other players operating in the value chain are Bard (CR) Incorporated, BarrierSafe Solutions International, Cederroth Intressenter AB, Johnson & Johnson, Ansell Limited, Teleflex Incorporated, Derma Sciences Incorporated, and Centaur Guernsey LP Incorporated.

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