Disposable Medical Supplies Market Demand and Top Manufacturers Production Analysis Forecasting 2021-2030

The Global Disposable Medical Supplies Market was valued at USD 28.86 billion in 2019 and is predicted to reach USD 55.93 billion by 2030 with a CAGR of 6.2% from 2020-2030.

Disposable medical supplies consist of various medical products and consumables that are intended for temporary use such as gloves, masks, syringes, bandages, surgical sponges and gowns. These products help in reducing hospital-acquired infection, prevent contamination and save staff time. Due to these benefits, along with their reliability, shelf life, ease of use, and performance, disposable medical supplies are widely used in hospitals, nursing homes, ambulatory surgery centers and research institutes.

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Competitive Landscape

The Disposable Medical Supplies market is highly competitive and consists of major players such as Abbott Laboratories, Bayer AG, Becton, Becton, Dickinson and Company. B Braun Melsungen AG, Medtronic Plc, Cardinal Health, Inc., 3M Company, Domtar Corporation, Smiths Group Plc. (Smiths-Medical), and Terumo Medical Corporation. Due to the spread of COVID-19 virus, the demand for masks, gloves and syringes has drastically increased. In order to address this increased demand, leading market players have been focusing on aggressive mergers and acquisitions. For instance, in July 15, 2020, Smiths Group plc., entered into a partnership with BARDA and JPEO-CBRND that includes $20 million investment for increasing the production of syringes and needles to support Operation Speed vaccine program of the U.S government. Also, in April 7, 2020, 3M Company had entered into an agreement with the U.S. government for the supply of 166.5 million N95 mask for healthcare workers.

Market Dynamics and Trends

Surge in the demand for disposable devices to prevent contamination, growing incidences of chronic and transmissive diseases along with increasing number of healthcare facilities across the world are major factors driving the growth of the disposable medical supplies market. Also, rising awareness towards maintaining hygiene and low cost of disposable products are some of the factors boosting the market growth during the forecast period. Moreover, the sudden outbreak of COVID-19 across the world has drastically increased the demand of disposal supplies. For example, governments in most countries have mandated wearing of masks in order to prevent the transmission of the virus, which in turn is driving the growth of disposable mask market. In addition, the rollout of Covid-19 vaccination has resulted into the surging demand of syringes, propelling the growth of disposable medical supplies market.

However, rising environmental concern due to the disposal of medical wastes hampers the market growth. On the contrary, increasing investment by the government to improve healthcare infrastructure and emergence of robot assisted surgeries are expected to create lucrative growth opportunities for the market players in the coming years.

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Market Segmentations and Scope of the Study:

The global Disposable Medical Supplies market is segmented on the basis of type, application, end-user and geography. On the basis of type the market is categorized into 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. The diagnostic supplies segment is further sub segmented into glucose monitoring strips, blood collection consumables and diagnostic catheters. The infusion product is further sub-divided into smart syringes and prefilled syringes. The nonwoven medical supplies segment is further classified into incontinence products and surgical nonwoven products. The wound care consumables are also divided into infection management, exudate management, and negative pressure wound therapy devices (NPWT). On the basis of application, the market is bifurcated into cardiovascular, cerebrovascular, ophthalmology, gynecology, urology, orthopedics, and others. On the basis of end-user, the market is classified into hospitals, clinics/physician offices, assisted living centers & nursing homes, ambulatory surgery centers, and research institutes. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the lion share of disposable medical supplies market. This is attributed to factors including large-scale investment by the government to upgrade the healthcare facilities, increasing consumer awareness towards hygiene and development of advanced technology such as temperature resistant and puncture proof gloves.

However, Asia Pacific is expected to witness the highest growth rate during the forecast period. The growth is most likely to be fueled by the growing healthcare expenditure, demand for low-cost disposable medical supplies, increasing prevalence of infectious diseases including covid-19, and the large population as well as patient pool in Asia-Pacific.

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