Medical disposables comprise materials and devices that play an important role in several medical fields. Medical disposables commonly include pediatric, hygiene, anesthesia, and surgical wear. These materials and devices are gaining traction owing to the increasing number of hospitals across the globe. The medical disposables market is expected to witness significant growth over the forecast period due to continuous product development and product launches by market players.
As per Precedence Research, the medical disposables market size is projected to grow by US$ 844 billion by 2027 at a CAGR of 16.2% from 2020 to 2027. The report provides the overall revenue of the global medical disposables market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year. The study includes drivers and restraints of this global market.
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Key Players & Strategies
The prominent players operating in this market are Bayer AG, BD, Smith & Nephew PLC, Cardinal Health and Medline Industries, Inc. Market players are focusing on adopting new marketing strategies such as mergers, acquisitions, product development, and product launches to promote medical disposable market growth. For example, in 2019, 3M announced the acquisition of Acelity Inc. to strengthen wound management solutions and to gain a maximum customer base. In addition, Smith & Nephew PLC acquired Osiris Therapeutics, Inc., in 2019 in order to enhance its wound management product portfolio. These initiatives implemented by key market players are expected to drive the market growth in the next few years.
The increasing number of surgeries across the globe is a major factor responsible for medical disposables market growth. According to Molnlycke Health Care AB, in Europe, around 70 million surgeries are performed every year. Medical disposables include disposables eye gear, respiratory supplies, hand sanitizers, sterilization supplies, sanitary napkins, and hospital gowns, which are essential requirements for surgeries. Moreover, the growing incidence of HAIs owing to lack of precaution and sanitation is another factor expected to further drive the market growth. Moreover, a growing number of chronic diseases including cardiovascular diseases and diabetes are expected to have a positive impact on market growth.
Healthcare products with improved performance, infection inhibition and effectiveness are driving the demand of medical disposables across the globe. Need for disposable devices are growing in emergent nations, as these countries are updating their healthcare infrastructure. A growing number of hospital admissions due to the COVID-19 outbreak across the globe have boosted the demand for medical disposables extensively. The WHO appealed to government and industries to increase the production of personal protective equipment such as medical masks, aprons, gowns, goggles, respirators, and face shields by 40% to fulfill the demand increased by hospitals. Therefore, the outbreak of COVID-19 is expected to drive tremendous medical disposable market growth.
- Among products, disposable masks accounted for the largest market share, in 2019. This high revenue market share is attributed to rapidly spreading COVID-19 worldwide.
- Among raw materials, nonwoven material is projected to grow with the fastest CAGR during the forecast period due to growing number of hospital admissions.
- Based on end-use, the hospital segment is projected to emerge as fastest growing over the forecast period due to increasing number of patients for treatments of COVID-19 and surgeries in hospitals.
- Asia Pacific is projected to grow with the highest CAGR from 2020 to 2027 due to growing number of COVID-19 patients and surgeries.
The industrial report mentions the influence of the ongoing COVID-19 pandemic. The outbreak has caused disturbances in several industries and has hammered the logistics, resulting in delayed deliveries and cancellation of product demand. The medical disposables report proficiently explains the resulting factors and concerns of manufacturers. Researchers have also well-explained how the producers and providers will tackle the ongoing epidemic and the key strategies to be adopted post-pandemic for turning their businesses back to normal.
In 2019, North America held the largest market share in terms of revenue. Factors such as increasing awareness about protection from infections, technological advancement in the healthcare industry, and government initiatives for healthcare management are responsible for driving the market growth in North America. U.S. Russia, Germany, China, Japan, France, Brazil, Italy, India, and UK will consists of the 10 prime markets for medical disposables, and together will account for around two-thirds of total global demand. Growth of the medical disposable market in the BRIC countries and other emergent nations is projected to surpass as the healthcare industry is modernized, extended, and modified to official infection prevention protocols in this region.
Thus, the rising number of patients infected by COVID-19 in Asia Pacific is expected to drive the market growth during near future. Asia Pacific medical disposable market is expected to exhibit the fastest CAGR during the forecast period. The major factors contributing to a positive impact on market growth in this region are the increasing prevalence of chronic diseases and the growing geriatric population. Additionally, India is one of the top 20 markets for medical devices across globe and is the 4rth largest markets in Asia Pacific. Different domestic players are greatly involved in engineering low-end products for international and local consumption. Nevertheless recently, numerous international corporations have established local existence in India.
In addition, key players present in this region are striving to come up with new products to strengthen their footprints in the competitive market, which is expected to propel the regional market growth in the next few years.
Segments Covered in the Report
This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes market thoroughly by classifying global medical disposable market report on the basis of different parameters including product, raw material, end use, and region as follows:
- Wound Management Products
- Drug Delivery Products
- Diagnostic and Laboratory Disposables
- Dialysis Disposables
- Incontinence Products
- Respiratory Supplies
- Sterilization Supplies
- Non-woven Disposables
- Disposable Masks
- Disposable Eye Gear
- Disposable Gloves
- Hand Sanitizers
- Gel Sanitizers
- Foam Sanitizers
- Liquid Sanitizers
- Other Sanitizers
By Raw Material
- Plastic Resins
- Nonwoven Material
- Paper and Paperboard
- Home Healthcare
- Outpatient/Primary Care Facilities
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
Why should you invest in this report?
If you are aiming to enter the global medical disposables market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for medical disposables are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2020-2027 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Some of the key highlights covered in the report include:
- Market Demand-Supply Analysis – The report covers detailed insights into demand and supply forces prevailing in the global medical disposables market. It examines trends and factors influencing demand for medical disposables globally and gauges the impact of the same on the production.
- Pricing Analysis – The report presents an exclusive pricing analysis. It compares pricing strategies adopted by the leading market players and identifies the most remunerative strategies.
- Market Segmentation – The report segments the global market in terms of diverse criteria. It identifies the leading segment within each category and identifies growth drivers and restraints affecting growth across each segment.
- Regional Analysis – The report segments the market in terms of North America, Europe, Latin America, Asia Pacific, and Rest of the World in terms of region. It has chapters exclusively dedicated to analyzing growth trends across each region. It identifies growth drivers as well challenges affecting demand for medical disposables across the world.
- Competitive Analysis – Some of the leading market players are profiled in the report on medical disposables. The report offers an estimation of share individually help by the market players and determines the impact of some of their popular strategies.
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
126.96.36.199. List of Suppliers
188.8.131.52. List of Buyers
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