Press release
China Medical Supplies Market Projections and Regional Outlook, To Develop with Increased Global Emphasis on Industrialization 2022 To 2027 | Sichuan Nigale Biomedical Co., Ltd., Jiangsu Likang Group Corporation, Shanghai Johnson & Johnson Co. Ltd., and S
The China Medical Supplies Market, analyzed by Astute Analytica was valued at US$ 53,963.2 Mn in 2021 and is estimated to reach US$ 73,228.7 Mn by 2027. The market is registering a CAGR of 5.2% over the projection period 2022-2027.
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The global market study includes information from key firms on R&D, new product launches, and product responses from global markets. The analysis includes a graphical presentation and a diagrammatic examination of the global market by region.
People and economies globally rely substantially on the healthcare business. It is one of the fastest-growing industries. There is a correlation between income levels and healthcare spending in different nations, with healthcare spending accounting for more than 10% of most industrialized countries' GDP.
Impact Analysis of COVID-19
Global COVID-19 cases have climbed above 516 million as of May 2022, and the death toll has exceeded 6.25 million. COVID-19 has disproportionately impacted specific racial and ethnic minority groups, as well as underserved and marginalized communities, highlighting the persistent challenges of health equity and health outcomes.
COVID-19 is causing a great deal of emotional, physical, and professional stress among health care personnel. The changing attitudes and behaviors of consumers, the integration of life sciences and health care, fast-growing digital health technology, new talent, and care delivery models, and clinical innovation advanced by COVID-19.
As sector players and the customers, they serve to adapt to a new world of remote working, virtual doctor visits, and a supply chain plagued by shortages of medical goods, employees, and services, the sector is reforming to become more customer-centric.
The Centers for Medicare and Medicaid Services data calculates that the U.S. national healthcare expenditure reached US$ 4.1 trillion in 2020 and is forecast to surpass US$ 6.2 trillion by 2028. According to the Commonwealth Fund, the U.S. spent nearly 17% of gross domestic product (GDP) on healthcare in 2018. Switzerland was the second-highest-ranking country, spending 12.2%. In addition, New Zealand and Australia dedicate only 9.3%.
Regional Analysis
By Type segment of the China Medical Supplies Market is sub-segmented into:
Advanced Wound Dressings
Catheters
Diagnostic Supplies
Dialysis Consumables
Disinfectants
Infusion & Injectable Supplies
Intubation & Ventilation Supplies
Personal Protective Equipment
Radiology Consumables
Sterilization Consumables
Surgical Wound Care
Traditional Wound Care
Wound Care Consumables
Other Medical Supplies
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By Application segment of the China Medical Supplies Market is sub-segmented into:
Cardiology
Infection Control
Radiology
Respiratory
Urology
Wound Care
Other Application
By End User segment of the China Medical Supplies Market is sub-segmented into:
Hospitals
Clinics
Ambulatory surgical centers
Other end users
Key Players Insights
The key players in the China Medical Supplies Market are Sichuan Nigale Biomedical Co., Ltd., Jiangsu Likang Group Corporation, Shanghai Johnson & Johnson Co. Ltd., and Suzhou Capsugel Co. Ltd., among others.
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About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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