New York, United States , May 17, 2024 (GLOBE NEWSWIRE) -- The Global Hospital Supplies Market Size is to Grow from USD 42.5 Billion in 2023 to USD 125.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 11.47% during the projected period.
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Hospital supplies include, among other medical equipment used in clinics and hospitals for treatment, disinfection, transportation, and early patient diagnosis, gloves, drapes, procedure trays, needles and syringes, and operating room tables. Disposable medical supplies are those that are designed to be used briefly or just once and can be disposed of after use. They are simple to use and don't require maintenance or sterilization. There are both public and private financial outlays involved. Furthermore, hospitals' growing infrastructure for providing healthcare is the primary factor driving the market forward during the pandemic. The availability of healthcare has a major impact on patients' capacity to recuperate from infections and long-term illnesses. The most recent technological advancements are employed in modern surgical procedures. Modern infrastructure and technology are required to detect or treat cancer cells within the body. However, there are significant barriers to the expansion of the hospital equipment and supply market, including the fall in private health insurance, the rise in demand for home care services, and strict government regulations.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Hospital Supplies Market Size, Share, and COVID-19 Impact Analysis, By Type (Disposable Hospital Supplies, Sterilization Equipment and Disinfectants, Mobility Aids and Transportation Equipment, Operating Room Equipment, and Others), By Product Type (Surgical Gloves, Surgical Gowns, Surgical Drapes, Surgical Packs, Feeding Tubes, and Others), By End-User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The disposable hospital supplies segment is anticipated to hold the greatest share of the global hospital supplies market during the projected timeframe.
Based on the type, the global hospital supplies market is divided into disposable hospital supplies, sterilization equipment and disinfectants, mobility aids and transportation equipment, operating room equipment, and others. Among these, the disposable hospital supplies segment is anticipated to hold the greatest share of the global hospital supplies market during the projected timeframe. Medical equipment and portable machines, which are extensively utilized in the healthcare sector, are examples of disposable hospital products. The need for efficient disposable medical supplies is highlighted by the rising incidence of hospital-acquired infections.
The surgical gloves segment is anticipated to grow at the fastest pace in the global hospital supplies market during the projected timeframe.
Based on the product type, the global hospital supplies market is divided into surgical gloves, surgical gowns, surgical drapes, surgical packs, feeding tubes, and others. Among these, the surgical gloves segment is anticipated to grow at the fastest pace in the global hospital supplies market during the projected timeframe. The demand for surgical gloves in the global hospital supplies market is predicted to rise due to the increasing number of surgical procedures, such as carotid endarterectomy, appendectomy, cesarean section, coronary artery bypass graft (CABG), and circumcision.
The hospital segment is anticipated to grow at the fastest pace in the global hospital supplies market during the projected timeframe.
Based on the end-user, the global hospital supplies market is divided into hospitals, ambulatory surgical centers, specialty clinics, and others. Among these, the hospital segment is anticipated to grow at the fastest pace in the global hospital supplies market during the projected timeframe. The needs of hospitals and healthcare facilities are closely linked to the market for hospital supplies. Hospital supply demand is influenced by a number of factors, such as overall healthcare infrastructure, medical technology advancements, and hospital admissions.
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North America is expected to hold the largest share of the global Hospital Supplies market over the forecast period.
North America is expected to hold the largest share of the global Hospital Supplies market over the forecast period. The market for hospital supplies has grown as a result of the ongoing focus on innovative and economical methods in the US, supporting North America's leadership position. Hospital supply market growth is also anticipated to be driven by an increase in communicable diseases and infections contracted in hospitals. In addition, the market for disposable medical supplies has grown significantly in recent years, and this growth is anticipated to propel market expansion in North America.
Europe is predicted to grow at the fastest pace in the global Hospital Supplies market during the projected timeframe. The hospital supply market was driven during the pandemic by the European government's prioritization of approving medical devices and personal protective equipment that followed standard production guidelines. With more patients than ever before due to the pandemic, most hospitals are running low on supplies. Standards for protective gear made locally, like face masks and disposable gloves, have been agreed upon by the European Commission and the European Committee for Standardization (CEN) in Europe.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Hospital Supplies Market include Medtronic (Covidien), GE Healthcare, Becton, Dickinson, and Company, Thermo Fischer Scientific Inc., Boston Scientific Corporation, Cardinal Heath, 3M Science, B. Braun Melsungen AG, Advanced Sterilization Services, Molnlycke Health Care AB, Baxter, Terumo, Steris Corporation, Kimberly-Clark Corporation, Stryker Corporation, Johnson and Johnson, Getinge AB, and Others.
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Recent Developments
- In October 2023, in an effort to minimize waste from medical devices, increase operational effectiveness, and optimize equipment utilization, GE HealthCare and reLink Medical partnered to offer asset management services to healthcare organizations. As part of this partnership, a standardized method for disposing of outdated medical supplies is being offered for sale, recycling, or donation.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global hospital supplies market based on the below-mentioned segments:
Global Hospital Supplies Market, By Type
- Disposable Hospital Supplies
- Sterilization Equipment and Disinfectants
- Mobility Aids and Transportation Equipment
- Operating Room Equipment
- Others
Global Hospital Supplies Market, By Product Type
- Surgical Gloves
- Surgical Gowns
- Surgical Drapes
- Surgical Packs
- Feeding Tubes
- Others
Global Hospital Supplies Market, By End-User
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Others
Global Hospital Supplies Market, Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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