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Hospital Supplies Market

Hospital Supplies Market

Hospital Supplies Market Analysis by Product Type (Surgical Gowns, Surgical Drapes, Surgical Gloves, Surgical Packs, Feeding Tubes), by End User (Hospitals, Ambulatory Surgical Centers, Specialty Clinics), By Region - Global Insights 2022-2032

Hospital Supplies Market
FACT4553MR
  • Apr-2022
  • List of Tables : 42
  • List of Figures : 93
  • 170 Pages
  • Healthcare

Hospital Supplies Market Outlook

The global hospital supplies market demand will increase 1.2x from US$ 18 Billion in 2022 to US$ 24.3 Billion in 2032.

Report Attributes

Details

Anticipated Base Year Value (2021)

US$ 17 Billion

Expected Market Value (2022)

US$ 18 Billion

Projected Forecast Value (2032)

US$ 24.3 Billion

Global Growth Rate (2022-2032)

3% CAGR

Growth Rate of the U.S (2022-2032)

2.8% CAGR

Expected Market Value of China (2032)

US$ 11 Billion

Dollar Opportunity in Japan (2022-2032)

US$ 10 Billion

Key Hospital Supplies Service Providers

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

The shift in growth pattern is primarily due to businesses resuming normal production after catering to demand that surged dramatically during the COVID-19 pandemic in 2020.

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Hospital Supplies Market Revenue Analysis 2015-2021 vs. Future Outlook 2022-2032

From 2015 to 2021, hospital supply sales increased at a CAGR of 3.5%, reflecting the growing need to protect patients from hospital-acquired viral, fungal, and bacterial infections. Demand increased significantly in 2020, during the COVID-19 outbreak, as exponentially increasing infection cases prompted caregivers to use disposable and reusable protective gear.

The increased use of preventative measures to manage and control hospital-acquired infections is expected to benefit the hospital supplies market (HAIs). Patients become infected with HAIs, also known as nosocomial infections, while undergoing medical or surgical treatment. The increasing number of surgical procedures suggests that the hospital supplies market has a lot of room to expand.

Among the most commonly used hospital items are surgical packs, gowns, drapes, gloves, and feeding tubes. According to Fact.MR, the market will grow at a CAGR of more than 3% until 2032.

How Is The Digitization Of Healthcare Driving Up The Demand For Hospital Supplies?

Digitization of healthcare Surging up the hospital supplies Demand

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

Adoption of digital technologies such as AI, telehealth platforms, virtual services, and home diagnostics has skyrocketed, particularly since the introduction of COVID-19. As a result, demand for advanced monitors, servers, and other hospital-grade smart devices have increased, creating opportunities for future growth.

An Adaptive Approach to Modern-day Research Needs

How is the Rising Number of Hospitals Catalyzing the Hospital Supplies Market Growth?

Rapid Expansion of Healthcare Infrastructure is Augmenting the Health Supplies Sales

The hospital supplies market is expanding rapidly as the number of hospitals increases, the population ages, and people become more aware of hospital-acquired infections (HAIs).

The hospital supplies market is divided into several categories. Mobility and transportation aids, operating room equipment, sterilization and disinfectant equipment, disposable hospital supplies, syringes and needles, and patient examination devices are just a few examples.

What is the Impact of the Rise of Home Care Services on Market Demand?

Regulatory Structure and the Rise of Personalized Medicine may Hinder the Hospital Supplies Market Growth

Several healthcare institutions are partnering with traditional home healthcare services or establishing their own home healthcare services to reduce surgery and post-procedure costs for patients.

The increased use of home healthcare services, as well as the availability of government reimbursement in developed countries such as the United States, is posing significant challenges to the hospital supply industry. Growth in the market is also hampered by the market's strict regulatory structure and the rise of personalized medicine.

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Country-wise Analysis

How Opportunistic will Hospital Supplies Market be in North America?

Rising Geriatric Population and Subsequent rise in Chronic Ailments to Drive Growth

In 2022, North America is likely to dominate the global hospital supplies market, accounting for approximately 38.2% of the market. Demand is being driven by rising hospitalization rates for a variety of chronic and infectious diseases.

Hospitalization rates have risen as the prevalence of chronic diseases such as hypertension and diabetes has increased. To avoid contracting infections, patients nowadays prefer hospitals and clinics with sterile environments. As a result, the demand for disinfectants, gloves, and masks is rapidly increasing.

How Lucrative are Growth Prospects in Europe?

Attempts to bridge Gaps in Demand-Supply augmenting Growth Prospects

Western Europe, the second-largest region, is likely to account for 30.5% of global hospital supply demand in 2022. In recent years, countries such as the United Kingdom, Germany, and France have played an important role in driving demand.

Since many years, increased healthcare spending in the aforementioned countries to improve overall healthcare infrastructure has stimulated demand for hospital supplies. For example, the United Kingdom government announced a £3.7 billion budget to build 40 new hospitals in October 2020, which will significantly increase demand for appropriate supplies.

What Encourages Increased Hospital Supply Sales in India?

Rising burden of chronic diseases and the country's growing demand for hospital supplies drives the Indian hospital supplies market

Government initiatives to improve healthcare services, in response to Asia's growing geriatric population, are driving hospital supply sales. For example, the Indian government launched the Ayushman Bharat Yojana in 2018 with the goal of providing free healthcare to 41% of the country's population. India has the lowest hospital bed density among the major countries.

There is a significant and unmet demand in these developing countries for hospital supplies such as sterilization and disinfection equipment, as well as patient examination devices. The country is expected to grow at a 2.6% CAGR until 2032.

Country-wise Forecast CAGRs in the Hospital Supplies Market

U.S

2.8%

U.K

2%

China

2.7%

Japan

2.5%

India

2.6%

Hospital Supplies Market forecast analysis by Fact.MR

Category-wise Insights

Why are Disposable Medical Gloves So Popular?

Disposable Medical Gloves Demand is Expected to Grow Astronomically in the Hospital Supplies Market

Disposable medical gloves, which aid in the prevention of cross-contamination between caregivers and patients, are the best solution in terms of hygiene and practicality in the medical and dental fields. This segment is expected to account for nearly three out of every five sales.

Dispotech, for example, provides a variety of Nitrile gloves with a very delicate elasticity that provides excellent comfort, as well as natural latex powder-free super grip gloves. Because it protects hands from a variety of hazards, this is one of the most commonly used items in the healthcare industry.

What Growth Opportunities Exist for Surgical Packs?

Surgical Packs are the Most Preferred Product Type in the Hospital Supplies Market

Surgical procedure packs are expected to grow at a CAGR of nearly 4% until 2032. DeRoyal Industries, for example, is at the forefront of this industry. The company provides a wide range of equipment for common cardiac procedures such as heart catheterizations, pacemaker-related procedures, and x-ray heart imaging (angiogram) treatments.

Each of the above packs contains Hospira Pfizer 1 percent lidocaine, a local anaesthetic that prevents or reduces pain by blocking nerves from generating pain signals during a surgical or catheter operation.

Competitive Landscape

Manufacturers in the hospital supplies industry will focus on strategic acquisitions, collaborations, and product launches over the next decade.

  • Siemens donated oxygen concentrators to hospitals in India to help eradicate COVID-19. As part of a long-term effort to combat the pandemic in India, the Siemens Caring Hands e.V. charity is delivering 100 oxygen concentrators to hospitals in Bengaluru, Goa, and Chennai.
  • Pediatric Home Service (PHS), a Roseville, Minnesota-based independent comprehensive home care service, has recently merged with Alliance Medical Supply, a San Antonio, Texas-based high-tech durable hospital supply company that serves paediatric patients.
  • Allegro Medical sells a wide range of medical equipment, but they are particularly impressed with its orthopedic and orthotic options, which number around 1,400 in total.

Key Segments Covered in the Hospital Supplies Industry Report

  • 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 Centers
    • Specialty Clinics

- FAQs -

As of 2021, Fact.MR estimated the Hospital Supplies market to have reached US$ 17 Billion
By 2022, Fact.MR expected demand for Hospital Supplies to reach US$ 18 Billion
From 2015-2021, the Hospital Supplies market grew at a 3.5% value CAGR
From 2022-2032, hospital supplies demand is likely to surge at a 3% CAGR
By 2032, the market for Hospital Supplies is likely to be valued at US$ 24.3 Billion
By 2032, Fact.MR expects the U.S market for hospital supplies to reach US$ 11 Billion
China is expected to register a 2.7% CAGR with regard to the Hospital Supplies industry
Japan is expected to document a CAGR worth 2.5% in the Hospital Supplies market
Application integration will expand the fastest, expanding at a 4% CAGR

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