Medical Supplies Market Growth Opportunity and Industry Forecast

“The major players in the medical supplies market include Becton, Dickinson and Company (U.S.), Boston Scientific Corporation (U.S.), Johnson & Johnson (U.S.), 3M Company (U.S.), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Thermo Fisher Scien”
The medical supplies market is projected to reach USD 136.63 Billion by 2021 from USD 98.33 Billion in 2016, at a CAGR of 6.8% during the forecast period. Medical supplies include single-use or disposable products used in all healthcare facilities such as hospitals, clinics, and nursing homes. They are categorized based on their applications and usage in healthcare facilities.

In this report, the medical supplies market is segmented on the basis of type, application, end user, and region. Based on type, the market is segmented into diagnostic supplies, dialysis consumables, wound care consumables, inhalation products, radiology consumables, infection control supplies, infusion products, intubation and ventilation supplies, personal protective equipment (PPE), hypodermic products, sterilization consumables, and other supplies.

Globally, the medical supplies market is witnessing substantial growth due to factors such as rising incidence of diseases, growing geriatric population, increasing incidence of hospital-acquired infections (HAIs), and rising number of surgeries.

In addition, emerging markets such as China and India, and increasing government and corporate investments in healthcare projects and infrastructure are expected to offer lucrative growth opportunities for players in the market. However, stringent regulatory requirements for the approval of medical supplies and product recalls are restraining the growth of this market.

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The dialysis consumables segment is projected to register the highest CAGR during the forecast period. The major factors contributing to the growth of this market include increasing patient pool for renal diseases, rising incidence of diabetes and hypertension, growing the geriatric population, and increasing adoption of dialysis procedures over kidney transplantations.

Based on application, the market is segmented into urology, wound care, radiology, anesthesia, sterilization, cardiology, ophthalmology, and other applications. The anesthesia segment is expected to register the highest growth during the forecast period. The high growth in this segment is attributed to the increasing number of surgical procedures being performed across the globe and the rising incidence of respiratory diseases.

Cardinal Health, Inc. (U.S.) held the second position in the medical supplies market in 2015. The company also focuses on acquisitions as its key strategy to exploit growth opportunities in the market. For instance, in March 2015, Cardinal Health, Inc. acquired Johnson & Johnson’s (U.S.) Cordis business, a global player in the cardiovascular and endovascular devices market. This acquisition of Cordis enhanced Cardinal Health’s portfolio of diagnostic catheters used in cardiology and endovascular applications. In addition, in May 2014, Cardinal Health, Inc. acquired Access Closure (U.S.), a leading manufacturer and distributor of extravascular closure devices in the U.S., with a USD 320 million cash transaction.

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