Hospital Supplies Market Overview 2018 to 2027, Future Trends and Forecast

 

According to our new research study on “Hospital Supplies Market Forecast to 2027 – Global Analysis – by Type and Geography,” the market size is expected to reach US$ 101,008.7 million by 2027 from US$ 37,938.54 million in 2017; it is estimated to grow at a CAGR of 11.9% during 2018–2027. The report highlights trends prevailing in the market and factors driving its growth. The hospital supplies market growth is attributed to increasing number of surgical procedures performed and growing public–private partnerships in the healthcare industry. However, frequent product recalls of hospital supplies and equipment may hinder the growth of market.

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The global hospital supplies market, based on type, is segmented into syringes, patient examination devices, mobility aids and transportation equipment, operating room equipment, sterilization and disinfectant equipment, and disposable hospital supplies. The disposable hospital supplies segment was the largest among the type subsegment in the market in 2017. However, the syringes segment is expected to witness growth in its demand at the fastest CAGR of 12.7% during 2018–2027.

Hospital supplies such as dressings, sutures, glucose monitoring strips, and sterilization consumables are used during surgeries. According to the Centers for Disease Control and Prevention (CDC), ~735,000 people suffer from heart attack. Furthermore, the Johns Hopkins University estimated that ~84 million people in the US suffer from cardiovascular diseases. This has led to an increase in cardiovascular surgeries, in turn, propelling the need for surgical procedures, coupled with technological advancements, which subsequently drive the hospital supplies market.

3M Healthcare; B.Braun Melsungen AG; BD; Cardinal Health Inc.; Terumo Corporation; Boston Scientific Corporation; Nipro Corporation; Baxter International, Inc.; Smiths Medical; and GE Healthcare are among the leading companies in the market. The hospital supplies market share is anticipated to flourish with the development of new innovative products by market players.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

 

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