Medical Supplies Market:
Executive Summary
Global Medical Supplies Market is valued approximately at USD 80 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 13.5% over the forecast period 2020-2026. Medical Supplies are the accessories necessary for treatment of an illness or injury. These are non-durable disposable healthcare materials primarily used to serve medical purposes. These supplies often include Needles, syringes, Medicine cups etc. The growing awareness about environmental and personal hygiene leads to the rise in demand for disinfectants and the rise prevalence of number of diseases increases the demand for Diagnostic supplies. These rise in demand drives the market for Medical Supplies. Moreover, due the spread of the COVID-19 Pandemic a surge in the demand for PPE kits, N95 masks and ventilators have been observed across the globe. This surge in demand positively impacts the Medical Supplies market. The extensive spread of the disease has led to the severe shortage of medical resources in the front line. This shortage of the medical supplies across the globe has propelled many non-pharmaceutical companies to manufacture various medical products. For Instance: in April 2020 SanTan Brewing based in Arizona, US repurposed its beer production line to manufacture hand sanitizers. The company in the same month produced 400 gallons of medical-grade hand sanitizers. While in March 2020, Pernod Ricard’s Facility in the US which originally produces Malibu Coconut Rum and Seagram’s Rin started producing 1000 gallons of hand Sanitizer. Furthermore, the increasing number of COVID-19 Patients demands excessive number of Medical Supplies for proper treatment. Hence the growing positive cases of COVID-19 drives the market growth. As per World of meters, as of 2nd May 2020 the number of Coronavirus Cases have increased to 3.4 million while the death toll from this virus has risen to 239 thousand. However, delay in non-urgent treatment and surgical procedures and impact on supply chain and logistics due to lockdown impedes the growth of the market over the forecast period of 2020-2026.
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The regional analysis of global Medical Supplies market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising number of cases across the region coupled with well-established healthcare infrastructure. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as rising population and rise in prevalence of multiple diseases would create lucrative growth prospects for the Medical Supplies market across Asia-Pacific region.
Major market player included in this report are:
Medtronic plc (Ireland)
Cardinal Health Inc. (U.S.)
Becton, Dickson and Company (U.S.)
Johnson & Johnson (U.S.)
B. Braun Melsungen AG (Germany)
Fresenius Medical Care AG & Co. KGaA (Germany)
Baxter International Inc. (U.S.)
STERIS Corporation (U.S.)
Getinge Group (Sweden)
Advanced Sterilization Products (U.S.),
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
Intubations
Personal Protective Equipment
Infusion
Radiology
Wound Care Supplies
By End User:
Hospitals
Clinics
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 20198
Forecast period – 2020 to 2026
Target Audience of the Global Medical Supplies Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
Continuous…
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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