Global Hospital Supplies Market Forecast 2024 | Key Players: Medtronic, Stryker, Baxter, Johnson & Johnson, Fresenius, Boston Scientific
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Increase in geriatric population, developments in healthcare infrastructure, favorable government initiatives in developing countries to offer better healthcare facilities, technological advancements such as the introduction of specialized operating room tables, Light Emitting Diode (LED) lights for operating rooms, pre-filled syringes, plastic syringes, single-use syringes, and digital thermometers will boost the hospital supplies market’s growth.
CDC offers guidelines for hospital supplies. Regulations address the risks of disease transmission; few guidelines exist concerning disinfection and sterilization. Rise of home care services will restrain the market.
Based on product, the industry can be segmented into disposable hospital supplies, patient examination devices, syringes and needles, mobility aids and transportation equipment, sterilization and disinfectant equipment, operating room equipment. The disposable hospital supplies sector will lead the market, being the fastest growing sector in the global hospital supplies market.
U.S. will drive regional hospital supplies market share due to increasing percentage of the elderly as part of the total global population, mass immunization programs and rise in the patient pool and growing need for insulin and vaccines will drive the market’s growth. Shift from non-disposable to disposable supplies will boost regional market share. Presence of leading supply providers such as Stryker and Medtronic (Covidine) in the region will stimulate industry growth owing to availability of affordable products.
European market will witness tremendous growth due to the increase in the number of hospitals, rapidly growing aging population and the rising awareness about hospital-acquired infections (HAIs). In UK, the disposable hospital supplies category was the largest category, reduced spending by the government will hamper the market growth in the region.
Disposable supplies held the majority share of the domestic healthcare equipment & supplies in China. Moreover, China is the major exporter of low technology based medical device equipment worldwide. China has one of the fastest aging populations in Asia with approximately 111 million people above 65 years of age. Widespread variety of development and investment opportunities for emerging players seeking to be a part of hospital supplies market, constant advancement in the market will boost the market size.
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Notable industry participants in the Hospital Supplies market include Medtronic (Covidine), Stryker, Baxter, Johnson & Johnson, Fresenius, Boston Scientific, BD, 3M, B. Braun, Smith & Nephew, Terumo Corporation, Abbott, Novartis, Smiths Group. Weigao, Lohmann & Rauscher, Ansell. Partnership with regional companies, acquisition and new product launches are commonly used strategies by industry players.
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