Medical Supplies and Equipments Market: Growth Trends, Segmentation, Key Players and Forecast 2024-2031

Report Overview

Medical Supplies and Equipments Market size is expected to grow at a CAGR of 5.2% during the forecast period 2024-2031

Medical supplies and equipment serve essential roles in hospitals and clinics, facilitating medical procedures and patient care. These supplies enable healthcare professionals to assess and address patients' medical needs effectively. They encompass a wide range of items, including storage and transport solutions, durable medical equipment, and diagnostic and electronic medical devices. From ensuring proper storage and handling of medications to facilitating surgical interventions and diagnostic tests, medical supplies and equipment are indispensable in healthcare settings, supporting the delivery of high-quality medical care.

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Medical Supplies and Equipments Industry Trends

The medical supplies and equipment market is poised for growth, driven by the increasing prevalence of chronic and infectious diseases worldwide. Conditions such as cancer, diabetes, and cardiovascular diseases are on the rise, leading to a surge in patient admissions to hospitals and clinics. For example, the American Medical Association reported approximately 33.4 million inpatient admissions in the United States in 2021. This influx of patients elevates the demand for medical supplies required for diagnosis and treatment within healthcare facilities.

Furthermore, market players are actively pursuing strategies such as acquisitions, mergers, and new product launches to capitalize on emerging opportunities. For instance, Ethicon, a subsidiary of Johnson & Johnson Medical Devices Companies, introduced the ENSEAL X1 Curved Jaw Tissue Sealer in June 2021, catering to various surgical procedures. Additionally, in May 2022, Cardinal Health collaborated with URAC, a prominent healthcare accreditation organization in the US, to pursue accreditation for its specialty pharmacies and practices.

These market dynamics, coupled with strategic initiatives by industry players, are expected to drive sustained growth in the medical supplies and equipment market, meeting the evolving needs of healthcare providers and patients alike.

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Industry Segmentation

By Type
Cardiovascular
Dental
Disposable Equipment and Supplies
General Equipment and Supplies
In vitro Diagnostics, Equipment, and Supplies
Life Science Tools and Services
Neurovascular
Ophthalmic Goods, Optical Instruments, and Lenses
Orthopedic Implants and Prosthetics
Patient Monitoring Equipment and Therapies
Others

By Application
Urology
Wound Care
Radiology
Panesthesia
Sterilization
Cardiology
Ophthalmology
Others

By End User
Hospitals
Clinics/Physician Offices
Assisted Living Centers & Nursing Homes
Ambulatory Surgery Centers

Market Key Players
Major players are Medtronic Inc., Becton Dickinson & Company, Baxter International Inc., Align Technology Inc., IDEXX Laboratories Inc., Henry Schein Inc., Cooper Companies Inc., Bio Rad Laboratories Inc., Hill Rom Hldg Inc., ICU Medical Inc., Globus Medical Inc., and Integra Lifesciences Holdings Corporation.

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