Originally published on Technavio:Disposable Medical Supplies Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Canada, Germany, France, China - Size and Forecast 2024-2028
Methodology
Disposable Medical Supplies Market 2024-2028
The global disposable medical supplies market size is estimated to grow by USD 604.17 billion at a CAGR of 17.3% between 2023 and 2028.
The surge in hospital visits, driven by the escalating prevalence of lifestyle and chronic diseases like cancer, cardiovascular diseases (CVDs), diabetes, chronic obstructive pulmonary diseases (COPDs), and others, is fostering the demand for disposable medical supplies. Conditions like COPD often necessitate hospitalization, where various disposable items such as syringes, needles, and oxygen masks are crucial for patient monitoring and treatment. With a substantial number of emergency visits and surgical procedures, the disposable medical supplies market is witnessing growth. The need for these supplies extends beyond surgeries, encompassing infection prevention measures. The upward trajectory is further driven by a rising number of hospitalizations linked to chronic diseases, emphasizing the market's expansion during the forecast period.
Type Analysis
Gloves
The market share growth by the gloves segment will be significant during the forecast period. Factors like rising concerns about hygiene and safety from HAIs, an increasing number of surgeries, and widespread availability and affordability of disposable medical gloves are the major drivers that are driving the growth of the gloves segment in the disposable medical supplies market. Addressing hygiene and safety concerns in healthcare is imperative to prevent HAIs.
Disposable Medical Supplies Market Size
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The gloves segment was the largest and was valued at USD 82.99 billion in 2018. HAIs occur in hospitals, long-term care, home care, and ambulatory care due to various factors such as the increasing number of morbidities and mortality rates, the transmission of drug-resistant bacteria, prolonged duration of hospital stays, disease outbreaks, and the prevalence of poor infection-control practices. Furthermore, the use of PPE, including gloves, by healthcare professionals to reduce occupational infection transmission is essential. Moreover, the demand for disposable medical gloves during medical examinations and surgical procedures to prevent cross-contamination between caregivers and patients is high due to the widespread availability, ease of use, and affordability of disposable medical gloves. Therefore, the widespread availability and affordability drive the growth of the gloves segment, which in turn is anticipated to propel the growth of the market during the forecast period.
End-user Analysis
Hospitals and Clinics
Hospitals and clinics are the major stakeholders of healthcare facilities, providing both surgical and non-surgical healthcare services. Hygiene and safety measures are one of the major priorities. As a result, the demand for disposable medical supplies such as gloves, face masks, drapes, bed sheets, syringes, and surgical instruments is high among hospitals and clinics. Further, the number of emergency room (ER) visits in hospitals is increasing. According to the Centers for Disease Control and Prevention (CDC), in 2021, there were about 130.0 million visits to the ER, and the number of visits to the emergency department that resulted in critical care unit admission was 2.3 million in the US. This growing number of ER visits is expected to increase the demand for disposable medical supplies in hospitals and clinics during the forecast period.
Ambulatory Surgery Center
Ambulatory surgery centers (ASCs) provide surgical treatment in outpatient settings, which reduces the cost burden on individuals. These surgeries generally do not require an overnight stay of a patient at the hospital. ASCs have a limited number of suppliers and often require third-party laboratory testing support and medical equipment for their healthcare services. Moreover, the risk of contamination is high, which increases the demand for products such as drapes, sheets, gloves, and face masks, which are discarded after a single use to prevent the spread of diseases. In July 2020, ASCs were launched by Stryker in the US. These facilities had the potential to save the US healthcare system about USD 55 billion annually.
Regional Analysis
Disposable Medical Supplies Market Share by Geography
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North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers will shape the market during the forecast period. The primary factors propelling the growth of the disposable medical supplies market in North America are the rising incidences and prevalence of infectious diseases.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
3M Co. - The company offers disposable medical supplies such as 3M Aura respirator and surgical masks, 3M Bair Hugger Warming Blanket, 3M Standard Tie-On surgical masks, and others.
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