The Global Hospital Supplies Market was worth $28.17 billion
in 2016 and estimated to be growing at a CAGR of 11.80%, to reach $49.21
billion by 2021. Hospital medical equipment and supplies denote the various
devices, instruments and medical consumables that are utilized in hospitals and
healthcare institutions. This market has been growing at a significant rate
over the past few years.
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Top players in the global hospital supplies market are
launching technically innovative hospital supplies to help doctors better
manage their patients. With an extensive category of development and investment
prospects for budding players seeking to be a part of the medical device
market, continual growth of the global hospital supplies market is expected.
The growth of the Global Hospital Supplies Market is majorly
driven by factors such as growing awareness about HAIs (hospital acquired
infections), rising number of hospitals, aging population, increasing
occurrences of communal diseases, methods such as frequent glove swapping and
double gloving during procedures. Improved economic situation in the developing
countries is another major factor boosting the growth of the market. However,
advent of home care services, strict regulatory structure, advance of
personalized medicine and drop in private health insurance are the major
restraints hindering the growth of the market.
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Market
Segmentation
o
By
Product Type
·
Operating
Room
Equipment
·
Sterilization
& Disinfectant Equipment
·
Syringes
&
Needles
·
Patient
Examination
Devices
·
Mobility
Aids & Transportation
Equipment
·
Disposable
Hospital
Supplies
Based on product type, the Global Hospital Supplies Market
is segmented into Operating Room Equipment, Sterilization & Disinfectant
Equipment, Syringes & Needles, Patient Examination Devices, Mobility Aids
& Transportation Equipment, Disposable Hospital Supplies. Disposable
hospital supplies lead the market with a market share of 46% followed by
syringes and needle segment with a market share of 23%.
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The market has also been geographically segmented into North
America, Europe, Asia-Pacific and the Rest of the World. North America is the
leading player in the global Hospital Supplies market followed by Asia-Pacific
and Europe. However, the Asia-Pacific region, which comprises of countries such
as China and India is projected to grow at the highest CAGR during the forecast
period due to the unprecedented rate of population growth in this region.
The major companies dominating this market are Advanced
Sterilization Products Services Inc., Dickinson and Company, Cardinal Health,
Inc., Kimberly-Clark Corporation, Becton, 3M Health Care, and B. Braun Melsungen
AG. The top players in the global hospital supplies market are likely to face
an intense competition from some of the budding companies in the coming years,
exemplifying the open nature of this market.
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