Disposable Medical Supplies Market is expanding at a Increasing Value of $80,252 Million (2017-2023) : US Region is Expected to Show faster rates

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

A new report published "Disposable Medical Supplies Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," by Allied Market Research. 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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Increase in incidence of chronic diseases and rise in surgical procedures globally are expected to supplement the market growth. For instance, there are about 4.2 million surgeries that employ various disposable medical supplies are being performed only in the U.S. However, an inadequate reimbursement for these devices and the waste produced due to the disposable products are expected to pose major limitations to the growth. Moreover, the rise in robot-assisted surgeries and increase in investments by developing economies in healthcare sector may pave way for opportunities for market expansion.

The nonwoven medical supplies segment is expected to grow at a significant CAGR during the forecast period, owing to their wide usage in the healthcare settings. These products are surpassing woven fabrics in terms of popularity, as they offer better hygiene conditions and effectively aid in avoiding contamination and infections. The cardiovascular segment dominated the global disposable medical supplies market, accounting for two-ninths share of the total market in 2016. This is due to the high incidence of various types of cardiovascular diseases globally, which in turn increases the number of diagnostic and surgical procedures that utilize disposable medical supplies. Among end users, hospitals generated the highest revenue in 2016, accounting for one-third share, and this segment is projected to continue this trend throughout the forecast period.

Type Segment Review

The disposable medical supplies market by type is segmented based on diagnostic supplies, dialysis consumables, radiology consumables, infusion products, intubation & ventilation supplies, hypodermic products, sterilization consumables, nonwoven medical supplies, wound care consumables, and other medical supplies. Nonwoven medical supplies is expected to be the lucrative segment during the forecast period, owing to their wide usage in the healthcare settings. These supplies consist of disposable products such as incontinence products and surgical nonwoven products that are consistently used across the healthcare settings.

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Application Segment Review

The disposable medical supplies market by application is segmented into cardiovascular, cerebrovascular, ophthalmology, gynecology, urology, orthopedics, and others. The cardiovascular segment accounted for the majority of the market share, i.e., two-ninths share of the total market in 2016, owing to the rise in cardiovascular diseases globally. For instance, according to the World Health Organization, an estimated 17.7 million people died from CVDs (cardiovascular diseases) in 2015, which represents 31% of total global deaths.

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.

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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