Selbyville, Delaware, June 24, 2020 (GLOBE NEWSWIRE) -- Worldwide medical supplies market was worth USD 80 billion in the year 2019 and to reach USD 95.04 billion by 2026 with a CAGR of 13.5% between 2020-2026. This rapid expansion of the market is majorly attributed to growing demand for disinfectants owing to rising cognizance of environment and personal hygiene.
The document offers crucial insights pertaining to the impact of COVID-19 on the growth avenues of global medical supplies market. Additionally, the study comprises of information pertaining to various segmentations such as type, end-use, and regional terrain along with their respective contributions towards the overall market outlook. The competitive analysis of the market as well as growth and development strategies adopted by industry giants worldwide are also enlisted in the document.
The different factors that are likely to impact the overall dynamics of the medical supplies industry have been closely assessed by top notch research experts and analysts. The study offers an unmatched strategic analysis in terms of market share, size, revenue, product & sales volume as well as current and predicted growth rate.
The study enclosed a detailed PEST Analysis of this business space, delivering business-centric information pertaining to economical, political, technological, and social parameters. In addition to this, the document provides details pertaining to investment adoption model. The simple & understandable language and analyst recommendation & conclusion make this report a must buy.
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For the record, medical supplies are non-disposable medical accessories required for treating injuries or illnesses. These supplies generally comprise of medicine cups, syringes and needles among others.
Important features of the medical supplies market report:
- A neutral evaluation of market performance
- Changing market dynamics
- Recent industry trends & noteworthy developments
- All -embracing market segmentation
- Current, historical, and expected market size based on volume and value
- Competitive landscape
- Strategies of market behemoths and product offerings
- Potential & niche segments/geographies depicting promising growth
Impact assessment of the COVID-19 outbreak on medical supplies market: The emergence of COVID-19 disease has increased the demand for diagnostic supplies such as ventilators, N95 masks, and PPE kits, which in turn is fueling the medical supplies market growth. In fact, according to World of Meters, the number of patients affected by coronavirus increased to 3.4 million whereas the death toll due to COVID-19 reached 239 thousand in May 2020.
The shortage of medical supplies owing to increased pervasiveness of the COVID-19 has compelled various non-pharmaceutical companies to produce healthcare products, which is adding substantial traction to the demand of medical supplies.
Citing some astonishing changes:
The US-based SanTan Brewing transformed its beer production units to develop hand sanitizers. The company reportedly produced around 400 gallons of medical-grade hand sanitizers in April 2020. Similarly, Pernod Ricard’s facility in the United States, which develops Seagram’s Gin and Malibu Coconut Rum, started producing up to 1000 gallons of hand sanitizers in March 2020.
However, the strict lockdown imposed in various regions in order to curb the spread of the disease has delayed surgical procedures as well as non-urgent treatments. It has also impacted the logistics and supply chain industry, which in turn may act as a restraining factor to the medical supplies market growth.
Product Insights
Worldwide medical supplies market is categorized according to various segments such as type, end-use and regional contribution. As per type, the market is split into wound care supplies, radiology, infusion, personal protective equipment, and intubations. Citing the end-use spectrum, the industry is divided into clinics and hospitals.
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Regional Analysis
Global medical supplies market is classified into Europe, North America, Latin America, Asia-Pacific, and Rest of the World. The North America medical supplies industry is expected to register significant growth during the forecast period. High occurrence of COVID-19 infections along with availability of advanced healthcare infrastructure are favoring the market scenario in the region.
On the other hand, the medical supplies market in Asia-Pacific is also estimated to amass appreciable returns in the forthcoming years. Rising prevalence of various infections & diseases is augmenting the regional demand.
Competitive Analysis
Advanced Sterilization Products, Getinge Group, STERIS Corp., Baxter International Inc. Fresenius Medical Care AG & Co. KGaA, B. Braun Melsungen AG, Johnson & Johnson, Cardinal Health Inc., Medtronic Plc. and Becton, Dickson & Co. are the major companies formulating the competitive arena of global medical supplies market.
Global Medical Supplies Market by Type Analysis (Revenue, USD Billion, 2018-2026)
Intubations
Personal Protective Equipment
Infusion
Radiology
Wound Care Supplies
Global Medical Supplies Market by End-use Analysis (Revenue, USD Billion, 2018-2026)
Hospitals
Clinics
Global Medical Supplies Market by Regional Analysis (Revenue, USD Billion, 2018-2026)
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
Rest of the World
Global Medical Supplies Market (Revenue, USD Billion, 2018-2026)
- Medtronic Plc.
- Cardinal Health Inc.
- Becton, Dickson & Co.
- Johnson & Johnson
- B. Braun Melsungen AG
- Fresenius Medical Care AG & Co. KGaA
- Baxter International Inc.
- STERIS Corp.
- Gentinge Groupe
- Advanced Sterilization Products
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2018-2026 (USD Billion)
1.2.1. Medical Supplies Market, by Region, 2018-2026 (USD Billion)
1.2.2. Medical Supplies Market, by Type, 2018-2026 (USD Billion)
1.2.3. Medical Supplies Market, by End-User, 2018-2026 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Medical Supplies Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Medical Supplies Market Dynamics
3.1. Medical Supplies Market Impact Analysis (2018-2026)
3.1.1. Market Drivers
3.1.2. Market Challenges
3.1.3. Market Opportunities
Chapter 4. Global Medical Supplies Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Medical Supplies Market, by Type
5.1. Market Snapshot
5.2. Global Medical Supplies Market by Type, Performance - Potential Analysis
5.3. Global Medical Supplies Market Estimates & Forecasts by Type 2016-2026 (USD Billion)
5.4. Medical Supplies Market, Sub Segment Analysis
5.4.1. Intubations
5.4.2. Personal Protective Equipment
5.4.3. Infusion
5.4.4. Radiology
5.4.5. Wound Care Supplies
Chapter 6. Global Medical Supplies Market, by End-User
6.1. Market Snapshot
6.2. Global Medical Supplies Market by End-User, Performance - Potential Analysis
6.3. Global Medical Supplies Market Estimates & Forecasts by End-User 2016-2026 (USD Billion)
6.4. Medical Supplies Market, Sub Segment Analysis
6.4.1. Hospitals
6.4.2. Clinics
Chapter 7. Global Medical Supplies Market, Regional Analysis
Related Report:
Emergency Medical Supplies Market Size, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2020 - 2026
The emergency medical supplies market is anticipated to foresee immense growth owing to the outbreak of COVID-19 pandemic, growing aging population, and rising number of cases related to chronic respiratory disorders. Emergency medical supplies play a key role to fill the equipment gaps usually encountered in the field of strategic emergency services.
The current pandemic has also led to the demand for therapeutic respiratory devices like ventilators in the market since the COVID-19 infection generally tends to affect the lower respiratory tract, thereby leading to market expansion. In case of an emergency like an accident or so, wound care products like bandages, wound cleaners, ointments & solutions, medicated wound dressings, wound cleansers, gauze & sponges, bandages, adhesive tapes, etc., are used by medical professionals.
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