WASHINGTON, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research analyses that the Medical Supplies Market which was USD 138.96 Billion in 2021, would rocket up to USD 192.95 Billion by 2028, and is expected to undergo a CAGR of 4.8% during the forecast period 2022 to 2028.
In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Vantage team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Recent study report released by Vantage titled Medical Supplies Market (covering USA, Europe, China, Japan, India, South East Asia and etc) highlights opportunities, risk analysis, and leveraged with strategic and tactical decision-making support. When every business is competing to be the best, a market research analysis report is one of the key factors that will help them climb the ladder of success. The Medical Supplies market report gives details about market trends, future prospects, market restraints, leading market drivers, several market segments, key developments, key players in the market, and competitor strategies. Market research analysis is one of the best ways that answers business challenges more quickly and also saves a lot of time. The research work, market insights and analysis are carried out thoroughly in this report that brings the marketplace clearly into the centre of attention.
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What is Medical Supplies? How Big is Medical Supplies Market Size?
Market Overview:
Rising Frequency of Accident & Injury Cases and Chronic Illnesses to Drive Market
Higher frequency of large- and small-scale problems that are caused by the environmental change, chronic diseases coupled with increasing cases of accident and injury has led to the expansion of medical supplies industry. Increasing prevalence of maternity-care and surgical infections and hospital-acquired illnesses, is fuelling the demand for various medical product supplies to assure the health & cleanliness. Additionally, the medical supply is expected to expand significantly as a result of COVID-19. With frequency of operations, the requirement for surgical gowns, drapes, gloves, procedural kits and trays, and will be higher.
Growth Elderly Population to Fuel Market Growth
Increasing number for renal disorders cases, rising diabetes in young and old people globally, hypertension prevalence, and rising old population is fuelling the market growth. Additionally, dialysis operations for kidney transplants and other such operation are producing demand for medical product supplies globally. Plus, an increase illness frequency and rise in number of hospitals acquired infections are increasing the need of medical supplies all over the globe.
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List of Prominent Players in the Medical Supplies Market:
- Cardinal Health, Inc. (US)
- Medtronic (Ireland)
- B. Braun Melsungen AG (Germany)
- Johnson & Johnson (US)
- Thermo Fisher Scientific, Inc. (US)
- Boston Scientific Corporation (US)
- Avanos Medical, Inc. (US)
- International, Inc. (US)
- 3M (US)
- ConvaTec Group Plc. (UK)
- Smith & Nephew (Ireland)
- Cook Medical (US)
- Abbott (US)
- Merit Medical Systems (US)
- Terumo Corporation (Japan)
- Stryker (US)
- Fresenius Medical Care AG & Co. KGaA (Germany)
- Teleflex Incorporated (US)
- Coloplast Group (Denmark)
The report on Medical Supplies Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
Rise in Geriatric Population in North America
Asia Pacific is expected to dominate and witness a higher growth rate during the forecast period driven by to increasing geriatric population couple with impact of COVID-19 are factors fuelling the growth of the medical supplies market in the region. The growing presence of diseases in countries like U.S. and Canada is majorly contributing in the consumption of medical supplies. The increment in healthcare expenditure and developed healthcare infrastructure in region, coupled with high demand for the different types of surgeries among the population are prominent factors that are accountable for high demand for medical supplies in region. Several government initiatives in for of medical sector development and adoption of medical insurance policies by population encourage surgical treatment fuelling the medical supplies market growth.
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Segments Covered:
By Type: Diagnostic Supplies, Infusion & Injectable Supplies, Intubation & Ventilation Supplies, Disinfectants, Personal Protective Equipment, Sterilization Consumables, Wound Care Consumables, Dialysis Consumables, Radiology Consumables, Catheters, Cardiovascular Catheters, Intravenous Catheters, Urological Catheters, Specialty Catheters, Neurovascular Catheters, Sleep Apnea Consumables, Other Medical Supplies
By Application: Urology, Infection Control, Cardiology, Other Applications
By End User: Hospitals, Clinics/Physician Offices, Other End Users
By Region: North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Recent Developments in the Industry:
1. December 2021: Fresenius Medical Care, the world's leading provider of products and services for individuals with renal diseases, announced changes to the Management Board effective. They follow a unanimous decision by the Supervisory Board of Fresenius Medical Care Management AG to adapt the composition of the Management Board to the company's new operating model, which is being launched in 2023.
2. December, 2021: Clarity Pharmaceuticals a clinical-stage radiopharmaceutical company developing next-generation products to address the growing needs in oncology, and Cardinal Health are pleased to announce that the companies have entered into an agreement covering Clarity’s Targeted Copper Theranostics (TCT) platform.
Browse market data Tables and Figures spread through 182 Pages and in-depth TOC on Medical Supplies market Forecast Report (2022-2028).
Some of The Key Questions from Our Customers Are:
- Which are the top companies in the market?
- How will the market change in the next years?
- What are the drivers and restraints of the market?
- Which regional market will show the highest growth?
- What will be the CAGR and size of the market throughout the forecast period?
- Which area offers the most significant benefit for the world market?
- What are the threats to business and the impact of the current scenario on growth and market perception?
- What are the likely advanced scenarios and maximum incentive to see movement by application, type, and region?
Scope of the Report:
| Report Attributes | Details |
| Market Size in 2021 | USD 138.96 Billion |
| Revenue Forecast by 2028 | USD 192.95 Billion |
| CAGR | 4.8% from 2022 to 2028 |
| Base Year | 2021 |
| Forecast Year | 2022 to 2028 |
| Key Players | Cardinal Health Inc., Medtronic, B. Braun Melsungen AG, Johnson & Johnson, Thermo Fisher Scientific Inc., Boston Scientific Corporation, Avanos Medical Inc., International Inc., 3M, ConvaTec Group Plc., Smith & Nephew, Cook Medical, Abbott, Merit Medical Systems, Terumo Corporation, Stryker, Fresenius Medical Care AG & Co. KGaA, Teleflex Incorporated, Coloplast Group |
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