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
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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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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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.
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered
- Surgical Gowns
- Disposable Gowns
- Reusable Gowns
- Surgical Drapes
- Disposable Drapes
- Reusable Drapes
- Surgical Gloves
- Disposable Gloves
- Reusable Gloves
- Surgical Packs
- Feeding Tubes
- Surgical Gowns
- Ambulatory Surgical Centres
- Specialty Clinics
- 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.
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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.
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