Vancouver, BC -- (SBWire) -- 12/22/2020 --The global medical supplies market size is anticipated to reach USD 180.89 Billion by 2027 at a CAGR of 4.5%, according to a recent analysis by Emergen Research. An increase in diseases related to the unhealthy lifestyle of the people is one of the major factors favouring market growth. The increased number of hospitals and super speciality clinics has also favoured the growth of the demand for medical supplies.
Key participants include Medtronic Plc, Becton, Dickinson And Company, B. Braun Melsungen Ag, Cardinal Health, Inc., Johnson & Johnson, Boston Scientific Corporation, Baxter International, Inc., 3M Company, Abbott, and Avanos Medical, Inc., among others
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Market Drivers
The disinfectant type is anticipated to grow with a significant CAGR of 5.1% during the forecast period. The demand for disinfectants has witnessed a sudden rise due to the outbreak of the COVID-19 which have made it important to maintain a clean, healthy and virus-free environment. However, in terms of revenue, the others application segment is predicted to dominate the medical supplies market, with USD 25.31 Billion in the year 2019. The others application segment includes the growing number of surgical procedures, prevalence of dental diseases, proper waste disposal methods, etc.
Type Outlook (Revenue, USD Billion; 2017-2027)
Diagnostic Supplies
Blood Collection Consumables
Other
Infusion & Injectable Supplies
Intubation & Ventilation Supplies
Disinfectants
Hand Disinfectants
Skin Disinfectants
Surface Disinfectants
Instrument Disinfectants
The global Medical Supplies Market is forecasted to be worth USD 180.89 Billion by 2027, according to a current analysis by Emergen Research. The growing incidence of chronic diseases due to unhealthy lifestyle habits is expected to drive the demand for medical supplies over the forecast period.
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Application Outlook (Revenue, USD Billion; 2017-2027)
Urology
Wound Care
Radiology
Respiratory
Infection Control
Cardiology
IVD
Other Applications
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals
Clinics
Others
Regional Outlook
North America accounted for the largest market share of 35.8% in 2019, owing to the highly advanced healthcare facilities in the region and the existence of major medical device companies. The Asia Pacific region is predicted to have a high growth rate throughout the forecast period, owing to the technological advancements in the region. The regional growth can be accredited to India, Japan, and China owing to factors such as the growing advancements by the prominent players and increased support from the government.
To identify the key trends in the industry and read full summary click on the link: https://www.emergenresearch.com/industry-report/medical-supplies-market
The research provides answers to the following key questions:
What is the expected market size of the Medical Supplies market for the forecast period 2020 – 2027..? What will be the growth rate of the industry during the estimated period?
What are the major driving forces shaping the future of the Medical Supplies industry worldwide?
Who are the major vendors in the industry and what are their strategies to reap more profits and reduce costs?
What are the trends from the past and future that are likely to favor the progress of the Medical Supplies industry worldwide?
What are the major threats and challenges that hinder the development of the industry?
What are the opportunities in store for the business owners operating in the market?
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About Emergen Research
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Medical Supplies Market Share 2027 by Top Key Players Are Medtronic Plc, Becton, Dickinson and Company, B. Braun Melsungen Ag, Cardinal Health
The Global Medical Supplies Market size was valued at USD 126.57 Billion in 2019 and is anticipated to reach USD 180.89 Billion by 2027 at a CAGR of 4.5%.