Wilmington, Delaware, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Medical Disposable Products Market by Product (Wound Management Products, Drug Delivery Products, Diagnostic and Laboratory Disposables, Dialysis Disposables, Incontinence Products, Respiratory Supplies, Sterilization Supplies, Non-woven Disposables, Disposable Masks, Disposable Eye Gear, Disposable Gloves, Hand Sanitizers and Others), Application (Cardiovascular, Cerebrovascular, Ophthalmology, Gynecology, Urology, Orthopedics and Others), and End User (Hospitals, Ambulatory Surgery Centers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the medical disposable products market was valued at $478.1 billion in 2023, and is estimated to reach $857.0 billion by 2033, growing at a CAGR of 6% from 2024 to 2033.
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Prime determinants of growth
Rising prevalence of chronic diseases, growing number of surgical procedures, and increasing awareness and regulations concerning infection control and hygiene are the major factors that drive the growth of the medical disposable products market growth. However, stringent regulatory requirements for the approval and use of medical disposables restricts the market growth. Moreover, high growth potential in emerging countries offers remunerative opportunities for the expansion of the global medical disposable products market.
Report coverage & details
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size In 2023 | $478.1 Billion |
| Market Size In 2033 | $857.0 Billion |
| CAGR | 6.0% |
| No. Of Pages In Report | 231 |
| Segments Covered | Product, Application, End User, And Region. |
| Drivers | Rising Prevalence Of Chronic Diseases |
| Growing Number Of Surgical Procedures | |
| Increasing Awareness And Regulations Concerning Infection Control And Hygiene | |
| Opportunity | High Growth Potential In Emerging Countries |
| Restraint | Stringent Regulatory Requirements For The Approval And Use Of Medical Disposables |
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Segment Highlights
The sterilization supplies segment to maintain its leadership status during the forecast period
By product, sterilization supplies dominated the market share in 2023. This is attributed to rise in awareness and stringent regulations around infection control and prevention in healthcare settings have significantly increased the demand for sterilization products. In addition, the surge in surgical procedures, both elective and emergency, necessitates a higher usage of sterilized instruments and supplies which further support the segment growth.
The cardiovascular segment to maintain its leadership status during the forecast period
By application, cardiovascular segment dominated the market share in 2023. This is attributed to the increasing prevalence of cardiovascular diseases, which necessitates a high volume of disposable products such as catheters, stents, and surgical drapes and advancements in minimally invasive surgical techniques, which rely heavily on disposable instruments further fueling segment growth.
The hospitals segment to maintain its leadership status during the forecast period
As per end user, the hospitals segment dominated the medical disposable products market share in 2023, owing to the high volume of patient admissions and the diverse range of treatments provided. The increased incidence of chronic diseases and the aging population led to more frequent hospital visits and longer stays, necessitating a higher consumption of disposable medical products.
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Regional Outlook
North America to maintain its dominance by 2033
North America dominated the market share in 2023. This is attributed to advanced healthcare infrastructure and high healthcare expenditure which facilitate the widespread adoption of disposable medical products. In addition, the presence of major market players and ongoing technological innovations contribute to market growth. The aging population coupled with a rise in prevalence of chronic diseases, further drives demand and boost the market growth in this region. Supportive government regulations and policies also play a crucial role in enhancing market expansion.
Key Players
- Medline Industries, Inc.
- Smith + Nephew
- Bayer AG
- BD
- 3M
- Cardinal Health
- B. Braun SE
- Boston Scientific Corporation
- Narang Medical Limited
- Terumo Corporation
The report provides a detailed analysis of these key players in the global medical disposable products market. These players have adopted different strategies such as agreement, product approval, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Developments in Medical Disposable Products Market Worldwide
- In September 2022, B. Braun Medical Inc., a leader in infusion therapy and pain management, announced that it has acquired the innovative Clik-FIX catheter securement device portfolio from Starboard Medical, Inc. B. Braun’s acquisition builds on the company’s history of product and program innovation to improve the patient experience and outcomes with peripheral intravenous (IV) therapy.
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