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Hospital Supplies Market

Hospital Supplies Market

Hospital Supplies Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Hospital Supplies Market
FACT4553MR
  • Aug-2021
  • List of Tables : 42
  • List of Figures : 93
  • 170 Pages
  • Healthcare

Market Snapshot

According to Fact.MR- a market research and competitive intelligence provider- global hospital supplies market demand is predicted to grow 1.2x from US$ 18 Bn in 2020 to US$ 23 Bn in 2031. The shift in growth pattern is primarily due to enterprises normalizing their output after catering to demand that surged dramatically during the COVID-19 pandemic in 2020.

Key Points Addressed in Hospital Supplies Industry Analysis

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Hospital Supplies and How to Navigate
  • Recommendation on Key Winning Strategies

Know More Details About the Report

Consumption Analysis of Hospital Supplies 2016-2020 Vs Future Outlook 2021-2031

From 2016 to 2020, sales of hospital supplies increased by a CAGR of 3% amid the increasing need for protection for patients from hospital acquired viral, fungal, and bacterial infections.

Demand accelerated substantially in 2020, amid the outbreak of COVID-19, as exponentially rising infection cases prompted caregivers to utilize disposable and reusable protective gear.

The increase in preventative measures being taken to manage and control hospital-acquired infections is likely to help the hospital supplies market (HAIs). Patients get HAIs, often known as nosocomial infections while receiving medical or surgical treatment.

The rising number of surgical procedures indicates that the hospital supplies market has a lot of room to grow. Surgical packs, gowns, drapes, gloves, and feeding tubes are among the most commonly used hospital items. According to Fact.MR, the market is poised to grow at over 3% CAGR until 2031.

How is Digitization of Healthcare Spurring Hospital Supplies Demand?

Digital technology is assisting the healthcare industry and increasing demand for hospital supplies, particularly in hospitals, as they transition to a new patient-centered care model and develop smart health approaches to improve access, improve quality, increase affordability, and lower costs.

Adoption of digital technologies, including AI, telehealth platforms, virtual services, and home diagnostics acquired massive traction, especially since the emergence of COVID-19. Hence, demand for advanced monitors, servers and other hospital-grade smart devices has surged, providing opportunities for future expansion.

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How is Emergence of Home Care Services Influencing Market Demand?

To lower surgery and post-procedure costs for patients, several healthcare institutions are either partnering with traditional home healthcare services or establishing their own home healthcare services.

The rise in the use of home healthcare services, as well as the availability of government reimbursement in industrialized nations such as the United States, is posing a significant challenge to the hospital supply industry. The market's growth is also hampered by the market's strict regulatory structure and the rise of personalized medicine.

How has COVID-19 Impacted the Hospital Supplies Industry?

In 2020, the outbreak of the Coronavirus Disease (COVID-19) initially generated crunches in the demand supply equation of the hospital supplies market, as supply chains were disrupted due to trade restrictions, with healthcare organizations struggling to procure medical equipment.

However, with healthcare products being designated as essential services, this shortfall was offset. Given the highly contagious nature of the disease, caregivers and patients alike are encouraged to wear disposable medical gowns, gloves, coats, and other PPE gear. This trend is expected to continue even in the post-pandemic scenario, as surging rates of HAIs will compel patients to seek surgeries in protective gear.

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Country-wise Analysis

What Supports Increasing hospital supplies Sales in the U.S.?

The U.S dominated the global hospital supplies market in 2020, accounting for roughly 38.2% of the market. Surging hospitalization rates for numerous chronic and infectious ailments is driving demand.

Rising cases of chronic ailments, including hypertension and diabetes, have surged hospitalization rates. Patients nowadays prefer hospitals and clinics with sterile environments to prevent contracting infections. Hence, demand for disinfectants, gloves and masks is increasing rapidly.

How Lucrative are Prospects in Western Europe?

The second-largest region, Western Europe, accounted for 30.5% of the worldwide hospital supplies demand in 2020. Countries such as the U.K, Germany and France have been instrumental in driving demand in recent years.

Accelerated healthcare spending in the aforementioned countries to improve overall healthcare infrastructure is stimulating demand for hospital supplies since many years. For instance, in October 2020, the U.K government announced a £ 3.7 Bn budget to construct 40 new hospitals, which will majorly stimulate demand for appropriate supplies.

What Supports Increasing Hospital Supplies Sales in India?

Due to the expanding geriatric population, government initiatives to improve healthcare services, is spurring hospital supplies sales across Asia. For example, the Indian government started the Ayushman Bharat Yojana in 2018 to provide free healthcare to 41% of the country's population.

Among the main countries, India has the lowest hospital bed density. In these developing countries, there is a significant and unmet demand for hospital supplies such as sterilization and disinfection equipment, as well as patient examination gadgets. The country is likely to witness growth at a CAGR of 3% until 2031.

Category wise insights

Why are Disposable Medical Gloves in High Demand?

Disposable medical gloves, which assist in avoiding cross-contamination between caregivers and patients, are the greatest answer in terms of hygiene and practicality in the medical and dentistry fields. Nearly 3 out of 5 sales are anticipated for this segment.

Prominent supplier Dispotech, for instance, offers a range of Nitrile gloves with a very delicate elasticity that provides excellent comfort and natural latex powder-free super grip gloves. This is one of the most commonly used goods in the healthcare industry since it protects hands from all types of hazards.

What Growth Prospects Abound for Surgical Packs?

Surgical procedure packs are likely to expand at a CAGR of nearly 4% until 2031. Companies such as DeRoyal Industries are at the forefront of this industry. The company offers a variety of equipment for common cardiac operations including heart catheterizations, pacemaker-related procedures, and x-ray heart imaging (angiogram) treatments.

During a surgical or catheter operation, Hospira Pfizer 1 percent lidocaine, a local anesthetic that prevents or lowers pain by blocking nerves from generating pain signals, is included in each of the above packs.

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Competitive Landscape

In the following decade, manufacturers in the hospital supplies industry will focus on strategic acquisitions, collaborations, and product launches.

  • To eradicate COVID-19, Siemens donated oxygen concentrators to hospitals in India. The Siemens Caring Hands e.V. charity is delivering 100 oxygen concentrators to hospitals in Bengaluru, Goa, and Chennai as part of a long-term effort to combat the pandemic in India.
  • Pediatric Home Service (PHS), a Roseville, Minnesota-based independent comprehensive home care service, recently joined with Alliance Medical Supply, a San Antonio, Texas-based high-tech durable hospital supply firm servicing pediatric patients.
  • Allegro Medical is selling a variety of medical equipment, but they are particularly impressed with its orthopedic and orthotic options, which total approximately 1,400 products.

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • Russia
  • India
  • China
  • Japan
  • South Korea
  • Australia
  • GCC
  • South Africa

Key Market Segments Covered

  • Product Type
  • End User
  • Region

Key Companies Profiled

  • Baxter
  • GE Healthcare Technologies
  • Invacare Corp
  • Hill-Rom Holdings, Inc.
  • TZ Medical

Pricing

Available upon Request

Key Segments Covered

  • Product Type

    • Surgical Gowns
      • Disposable Gowns
      • Reusable Gowns
    • Surgical Drapes
      • Disposable Drapes
      • Reusable Drapes
    • Surgical Gloves
      • Disposable Gloves
      • Reusable Gloves
    • Surgical Packs
    • Feeding Tubes
  • End User

    • Hospitals
    • Ambulatory Surgical Centres
    • Specialty Clinics

Hospital Supplies Market- Scope of Report

A recent study by Fact.MR on the hospital supplies market offers a 10-year forecast for 2021 to 2031. The study analyzes crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering hospital supplies.

The study also provides the dynamics responsible for influencing the future status of the hospital supplies market over the forecast period. A detailed assessment of value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report.

A list of prominent companies operating in the hospital supplies market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including production capacities, demand, product developments, revenue generation, and sales of hospital supplies across the globe.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account the sales of hospital supplies during the forecast period. Price point comparison by region with global average price is also considered in the study.

Key Questions Answered in Report

  • Which are the most lucrative hospital supplies markets?
  • Which factors will impact the growth of hospital supplies?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the hospital supplies industry?
  • What are the winning strategies of stakeholders in the market?

Analysis on Market Size Evaluation

The market has been analyzed for each segment in terms of volume (‘000 Units) and value (US$ Mn).

Estimates at global and regional levels for hospital supplies are available in terms of “US$ Mn” for value and in “‘000 Units” for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global hospital supplies market.

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the hospital supplies during the forecast period.

Country-specific valuation on demand for hospital supplies has been offered for each region, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value & volume for emerging countries has also been included in the report.

In-depth Analysis on Competition Analysis

The report sheds light on leading manufacturers of hospital supplies, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering hospital supplies has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.

Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the hospital supplies domain. 

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the hospital supplies industry, and reach conclusions on the future growth parameters. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

- FAQs -

As of 2020, sales of hospital supplies were valued at US$ 18 Bn as per Fact.MR’s projections

From 2016 to 2020, sales of hospital supplies expanded at a CAGR of 3%

The global hospital supplies market is forecast to reach US$ 23 Bn by 2031

Burgeoning efforts to contain spread of hospital acquired infections is majorly spurring hospital supplies demand

Demand for surgical gloves is expected to be dominant, accounting for almost 3/5th of overall sales

In revenue terms, sales of hospital supplies accounted for 38.2% of global demand in 2020 across the U.S

Sales of medical supplies across Western Europe surpassed 30% of overall value in 2020

India represents lucrative prospects, likely to witness growth of around 3% in value CAGR terms

Surgical packs sales are anticipated to expand at a CAGR of nearly 4% through 2031

Baxter, GE Healthcare, Invacare Corp and Hill-Rom Holdings Inc. are some key manufacturers of hospital supplies

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

Is a sample of this report available for evaluation?

Yes, you can request a sample, and it will be sent to you through an email.