Hospital Supplies Market (Covid-19) Impact and Analysis by 2027 | 3M Healthcare, B. Braun Melsungen AG, BD, Cardinal Health, Terumo Medical Corporation, Boston Scientific Group, Nipro Medical Corporation, Baxter, Smiths Medical and GE Healthcare

The Insight Partners analysts forecasts the latest report on “Hospital Supplies Market (Covid-19) Impact and Analysis by 2027”, according to report; The Hospital Supplies Market report covers the overall and all-inclusive analysis of Market with all its factors that have an impact on market growth. This report is anchored on the thorough qualitative and quantitative assessment of the Hospital Supplies Market.

The study provides details such as the market share, Market Insights, Strategic Insights, Segmentation and key players in the Hospital Supplies Market.

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The hospital supplies market accounted to US$ 37.9 Bn in 2018 and is expected to grow at a CAGR of 11.9% during the forecast period 2019 – 2027, to account to US$ 101.0 Bn by 2027.

Some of the Major Market Players Are:

3M Healthcare
B. Braun Melsungen AG
BD
Cardinal Health
Terumo Medical Corporation
Boston Scientific Group
Nipro Medical Corporation
Baxter
Smiths Medical
GE Healthcare

Market Insights

Rising Incidence of Chronic Diseases is expected to boost the market growth over the years

Chronic diseases, including diabetes, cancer, heart disease, and obesity, are the leading causes of death in the world and account for most of the nation’s health care costs. According to the International Diabetes Federation (IDF), in 2017, number of people with diabetes in North America was approximately 46 million which is expected to grow at 62 million in 2045. The increase in the disease prevalence is around 35% during the forecast period. According to report of CDC, in 2018, approximately more than 9% of the population has diabetes, which is the leading cause of kidney failure, lower-limb amputations in US. Moreover, the data also suggests that 1.5 million Americans are diagnosed with diabetes every year in the US. Similar trends for high presence of diabetes are prevalent around other geographies of the globe that include Asia Pacific, Europe, Middle East and Africa. For instance, according to IDF Diabetes Atlas published by the International Diabetes Federation in 2017, south-east Asia is home to approximately one-fifth (19%) of the total diabetes population worldwide.

Also, according to the World Health Organization in 2018, cancer was the second leading cause of death across the globe, and is responsible for an estimated 9.6 million deaths in 2018. Furthermore, the American Cancer Society estimated that in 2018, 1,735,350 new cancer cases were diagnosed in 2018.

Thus, the increasing incidences of chronic diseases poses several opportunities for the hospital supplies market to grow during the forecast period.

Increasing Incidence of Hospital-Acquired Infections

Hospital acquired infections affects the patients not only during their stay in the hospitals, but also post patient’s discharge from hospitals. Moreover, these occupational infections are observed to be common in within the hospital and nursing staff too. According to the World Health Organization (WHO), hundreds of millions of patients are affected by healthcare associated infections every year leading to significant morbidity and mortality around the world. The WHO Healthcare Associated Infections fact sheet of 2016 suggests that of every 100 hospitalized patients at a given time, 7 in the developed countries and 10 in developing countries acquires at least one hospital acquired infection.

Moreover, in high income countries, approximately 30% of patients in intensive care units (ICUs) are affected by at least one HAIs. This rate of HAIs is approximately 2-3 folds higher in the low and middle income countries. In addition, the WHO claims that the newborns are at a higher risk of developing these infections, with infection rates 3-20 times higher in developing countries as compared to high income countries of the globe. As a result of this significant prevalence rate of these infections, the endemic burden of health care associated infections is also turning up higher, majorly among the developing economies of the world. The European Centre for Disease Prevention and Control reports an average prevalence of 7.1% in European countries. The Centre estimates that 4,131,000 patients are affected by approximately 4,544,100 episodes of health care-associated infection every year in Europe. Thus, the increasing prevalence of HAIs is expected to create a demand for medical disposable products promoting growth of the hospital supplies market across the world.

Product Insights

The global Hospital Supplies Market, based on type is segmented into syringes, patient examination devices, mobility aids and transportation equipment, operating room equipment, sterilization and disinfectant equipment and disposable hospital supplies. In 2018, the disposable hospital supplies segment held the largest share of the market, by type. This segment is also expected to dominate the market in 2027 owing to high demand for hospital disposables and growing number of multispecialty hospitals. Moreover, the syringes segment is anticipated to witness the significant growth rate of 12.7% during the forecast period.

The syringes market bifurcated into generalized syringes and specialized syringes. In 2018, the generalized syringes market held the largest market share.

The specialized syringes market further subdivided into insulin syringes, allergy syringes, tuberculin syringes and other syringes.

Strategic Insights

Strategic acquisition and product launches were observed as the most adopted strategy in global hospital supplies industry. Few of the recent product launch, product approval and acquisitions are listed below:

2019: Safe-T- Lance Plus safety lancets from Smiths Medical provide retractable safety technology for capillary blood sampling. Automatic retraction reduces needlestick injuries and cross-contamination exposure.

2018: Smiths Medical announced launched of its three products EchoGlo Peripheral Nerve Block (PNB) Needles and Catheters, CADD Infusion Systems with NRFit Connector and CADD-Solis Ambulatory Infusion Pump at the annual meeting American Society of Regional Anesthesia and Pain Management Medicine, New York.

2017: Cardinal Health completed the acquisition of Medtronic's Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency business for $6.1 billion.

MARKET SEGMENTATION

By Type

• Syringes
o Generalized Syringes
o Specialized Syringes
 Insulin Syringes
 Allergy Syringes
 Tuberculin Syringes
 Other Syringes
• Patient Examination Devices
• Mobility Aids and Transportation Equipment
• Operating Room Equipment
• Sterilization and Disinfectant Equipment
• Disposable Hospital Supplies

The report analyses factors affecting the Hospital Supplies Market from further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Hospital Supplies Market in these regions.

Moreover, the report entails the estimate and analysis for the Hospital Supplies Market on a global as well as regional level. The study provides historical data as well as the trending features and future predictions of the market growth. Further, the report encompasses drivers and restraints for the Hospital Supplies Market growth along with its impact on the overall market development. In addition, the report provides an analysis of the accessible avenues in the market on a global level.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Hospital Supplies Market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions. The Hospital Supplies Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Promising Regions & Countries Mentioned in The Hospital Supplies Market Report:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East & Africa

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Major Features of Hospital Supplies Market Report:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Hospital Supplies market
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global Hospital Supplies market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

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