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Disposable Hospital Supplies: Essential Tools for Modern Healthcare
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According to The Business Research Company's, The disposable hospital supplies market size has grown strongly in recent years. It will grow from $30.2 billion in 2023 to $32.04 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increasing healthcare expenditure, rising incidence of infectious diseases, stringent regulatory standards, growing aging population, globalization of healthcare.
The disposable hospital supplies market size is expected to see strong growth in the next few years. It will grow to $40.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to rising healthcare investments, prevalence of chronic diseases, global pandemic preparedness, evolving regulatory landscape, environmental sustainability initiatives. Major trends in the forecast period include technological innovations, telehealth expansion, advancements in medical technology, increased emphasis on cost efficiency, rising adoption of single-use devices.
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Market Drivers and Trends:
The increasing number of COVID-19 cases across the globe is projected to surge the demand for disposable hospital supplies. The rapid surge in coronavirus cases is generating huge demand for personal protective equipment (PPE) and other disposable supplies to protect healthcare workers from infections in their daily operations. For instance, in September 2023, according to the World Health Organization (WHO) Coronavirus (COVID-19) Dashboard, a France-based specialized agency of the United Nations, there have been 770,563,467 confirmed cases of COVID-19, including 6,957,216 deaths, reported to WHO globally. Therefore, the rise in the number of cases across the globe and the growing need for healthcare workers to be protected against the spread of the virus are anticipated to boost the demand for the disposable hospital supplies market over the forecast period.
Major companies operating in the disposable hospital supplies market are developing innovative products such as ClearMask Transparent Surgical Mask Plus to meet customers' needs. ClearMask Transparent Surgical Mask is the first fully transparent, FDA-cleared and CE-marked mask optimized for maximum clarity and comfort. For instance, in May 2022, ClearMask LLC, a US-based medical supply company launched ClearMask Transparent Surgical Mask to make connections more human and provide clearer communication, especially for those who rely on lip-reading or facial expressions to communicate. The mask is made of lightweight materials and features an anti-fogging design to ensure maximum clarity. The launch of the ClearMask Transparent Surgical Mask Plus demonstrates the ongoing innovation in the disposable mask market, with a focus on improving comfort, communication, and protection.
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Major Key Players of the Market:
Cardinal Health Inc., Johnson & Johnson Services Inc., Farbenfabriken Bayer AG, Thermo Fisher Scientific Inc., Abbott Laboratories, 3M Company, Covidien Limited, Medtronic plc, Medline Industries Inc., Kimberly-Clark Corporation, Becton, Dickinson and Company, Stryker Corporation, GE HealthCare Technologies Inc., Baxter International Inc., Boston Scientific Corporation, Owens & Minor Inc., B Braun Melsungen AG, Terumo Corporation, Steris Corporation, Domtar Inc., Nipro Corporation, Hill-Rom Holdings Inc., Getinge AB, Molnlycke Health Care AB, Ansell Healthcare LLC, Sunrise Medical LLC, Avanos Medical Inc., Semperit AG Holding, Invacare Corporation, Advanced Sterilization Products Services Inc.
Disposable Hospital Supplies Market 2024 Key Insights:
• The disposable hospital supplies market size is expected to see strong growth in the next few years. It will grow to $40.05 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Rising Covid-19 Cases Drive Demand For Disposable Hospital Supplies
• Clearmask Transparent Surgical Mask Plus Sets New Standards In Disposable Hospital Supplies
• North America was the largest region in the disposable hospital supplies market in 2023
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