Precedence Research has published a new report titled, “Medical Disposables Market (By Product: Drug Delivery Products, Wound Management Products; By Raw Material: Plastic Resins, Nonwoven Material, Rubber, Paper and Paperboard, Metals, Glass, Others; By End Use: Home Healthcare, Hospitals, Outpatient/Primary Care Facilities) – Global Market Size, Trends Analysis, Segment Forecasts, Regional Outlook 2020 – 2027”.
The study gives an elaboration on the market size, share analysis, demand-supply scenario, production and value chain analysis, key drivers, restraints, emerging trends, pricing structure, opportunities, profit margins, prominent business, and recent technological progress.
According to the study, the global medical disposables market size is forecast to reach US$ 844 billion by 2027 and is set to register a decelerating CAGR of over 16.2% during the forecast period 2020-2027.
Medical disposables comprise material 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 disposable market is expected to witness significant growth over the forecast period due to continuous product development and product launches by market players.
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.
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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.
- 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.
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.
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- 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?
The company’s expert’s team has been always monitoring the medical disposables market for few years, which has assisted them to include actionable insights that can consult the regarded reader with the influence to grow their venture with a high CAGR and gain stellar ROI (Return on initial capital investment) in the market.
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.
Motives to Purchase:
- Save and decrease the time for conducting entry-level research by recognizing the growth, size, foremost players and sectors in the global medical disposables market
- Develop/adapt development tactics by means of significant growth openings in established and evolving markets
- Examine exhaustive global market tendencies and viewpoint plus factors pushing the market
- Augment the decision-making procedure by understanding the approaches that support profitable interest with respect to segmentation, products, pricing and distribution
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Carolina is an author who specializes in covering healthcare, chemical, and the automotive industry. Before joining Market Stats News, Carolina covered some of the biggest companies in Silicon Valley for the San Jose Mercury News. She loves all things French and the written word. Articles by Carolina