Disposable Medical Supplies Market: How Top Leading Companies Can Make This Smart Strategy Work, Industry Forecast, 2017-2025
The rapid sophistication of disposable medical supplies, such as prefilled syringes and disposable glucose testing strips, will aid in curbing hospital-acquired infections as well as the cost associated with the medical devices and consumables. Moreover, developing economies such as Brazil, India, and China will represent remarkable growth, owing to the high investments in the healthcare sector.
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Disposable medical supplies are medical consumables such as gloves, hypodermic needles, syringes, and applicators among others, which are discarded or disposed of after every use. These medical supplies are essential in reducing the chances of hospital-acquired infections, needle stick injuries, and other communicable diseases. These supplies are prescribed or ordered by a physician and are primarily used to serve a medical purpose in healthcare settings as well as used by patients at homecare.
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.
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%.
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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.
Table Of Content
Chapter: 1: INTRODUCTION
1.1. Report description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
Chapter: 2: EXECUTIVE SUMMARY
2.1. CXO perspective
Chapter: 3: MARKET OVERVIEW
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s Five Forces Analysis
3.4. Top player positioning
3.5. Market Dynamics
18.104.22.168. Surge in demand for disposable medical supplies
22.214.171.124. Increase in trend for disposable medical supplies to avoid contamination and healthcare-acquired infections
126.96.36.199. Favorable government regulations
188.8.131.52. Inadequate reimbursement policies
184.108.40.206. Raise in environmental concerns due to disposable wastes
220.127.116.11. Higher investment in healthcare facilities by the developing economies
18.104.22.168. Increase in robotic-assisted surgeries
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