Hospital Supplies Market Size Expected to Reach US$ 24.3 Billion by 2032: Fact.MR Report

Rockville , Sept. 19, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global hospital supplies market is expected to reach US $24.3 Bn by 2032 while climbing at a CAGR of 3%.

Hospital supplies are essential tools, equipment, and materials used in healthcare facilities like hospitals and clinics. They are specially made to meet strict quality and safety standards, ensuring they are reliable and safe for patients. These supplies are designed with features to prevent infections, and they work seamlessly with other medical equipment. They are durable and able to withstand the demands of healthcare settings, and they come in a wide range to cover all medical needs.

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The expansion of the hospital supplies market is primarily driven by factors such as the increasing global population, which leads to a higher demand for healthcare services and consequently, a greater need for supplies. Additionally, advancements in medical technology are driving the development of more sophisticated and specialized hospital equipment and consumables.

Key Takeaways:

• Hospital supplies market growth rate in the US is around 2.8% CAGR during the forecast period.
• China’s hospital supplies market is expected to witness a value of US $ 11 Bn by 2032. Moreover, the dollar opportunity in Japan is expected to be around US $ 10 Bn during the forecast period.
• In 2022, North America is likely to dominate the global hospital supplies market accounting for approximately 38.2% of the market.
• Moreover, Western Europe accounted for 30.5% of the global supply hospital supply demand in 2022. Moreover, other countries such as the UK, Germany, and France have played an important role in driving demand.

The hospital supplies market is being driven by increasing global healthcare expenditure, growing demand for specialized medical equipment, and heightened focus on infection control measures and healthcare preparedness. - Says FACTMR Expert

Key Companies Profiled in This Report

• Baxter
• GE Healthcare Technologies
• Invacare Corp
• Hill-Rom Holdings, Inc.
• TZ Medical
  

Market Competition

Competitiveness in the market is intense, and over the coming decade, industry manufacturers will prioritize strategic acquisitions, partnerships, and the introduction of new products. Prominent players in the market include multinational corporations like Johnson & Johnson, Medtronic, Becton, Dickinson, and Company, as well as specialized companies such as Cardinal Health and 3M Healthcare.

• In June 2022, Boston Scientific Corporation gained 510(k) approval from the United States Food and Drug Administration (FDA) for its EMBOLD Fibered Detachable Coil, a device used to restrict or limit the rate at which blood flows in the peripheral circulation.
• In June 2022, BD, a leading healthcare company, completed the acquisition of Parata Systems, a pioneer in pharmacy automation technologies.

Winning strategies

• In this market, making the supply chain process more efficient, which includes how supplies are bought, managed in storage, and distributed, can save costs and make operations smoother. This means getting the right supplies at good prices, managing stock levels well, and delivering them promptly where needed in the hospital.
• Prioritizing the design of products with a focus on patient comfort and ease of use can significantly enhance the overall experience for patients, leading to higher levels of satisfaction. This involves creating supplies that are ergonomically designed, non-invasive, and tailored to meet the specific needs of patients.
  • For example, comfortable bedding, user-friendly medical devices, and non-irritating wound care products contribute to a more pleasant and less stressful hospital stay.
    

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Key Segments Covered in the Hospital Supplies Industry Report

• Product Type
  • Surgical Gowns
    • Disposable Gowns
    • Reusable Gowns
  • Surgical Drapes
    • Disposable Drapes
    • Reusable Drapes
  • Surgical Gloves
    • Disposable Gloves
    • Reusable Gloves
  • Surgical Packs
  • Feeding Tubes
• End User
  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global Hospital Supplies Market forecast statistics for the period (2022 to 2032).

Hospital Supplies Market Analysis by Product Type (Surgical Gowns, Surgical Drapes, Surgical Gloves, Surgical Packs, Feeding Tubes), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), By Region

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Hospital Food Service Market: The global Hospital Food Service market is expected to grow with a 7.5% CAGR during 2023-2033.

Americas Hospital Acquired Infection Testing Market: By the end of 2031, the market is anticipated to reach US$ 2.7 billion, with sales revenue growing at a 15% CAGR over that time.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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