A Grinding Analysis on Global Hospital Supplies Market

Hospital Supplies – An Introduction and Market Study

Hospital supplies can be defined as health care equipment and devices that include medical instruments, drug delivery systems, cardiovascular and orthopedic devices and diagnostic equipment that are utilized in hospitals and healthcare institutions. Hospital supplies are in vogue from the beginning of the 18th century when due to civil wars and epidemic/endemic diseases such as smallpox, tuberculosis and other communicable diseases was taking toll of the people across the globe. The majority of innovations in hospital supplies took place during the early 19th and 20th centuries.

Medical supplies to the army during the civil war in America and in Europe with immense hospital supplies, being transported to the big hospitals or furloughed homes resulted in the growth of the global hospital supplies market. The global hospital supplies market was around the US $28.1 billion in 2016 that is estimated to grow at 11.80% and may reach US $49.21 billion by the end of 2021. The hospital supplies market that includes various devices, tools and medical consumables used in hospitals and healthcare establishments is expanding at a substantial rate over the past few years.

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Hospital Supplies Market analysis – An outlook

The hospital supplies market is continuously growing due to the following factors such as-

  • Increasing awareness about Hospital Acquired Infections (HAIs)
  • Increase in the number of hospitals especially corporate and government hospitals in developing economies like India
  • High occurrences of inflammatory and communal diseases
  • Growth in aging population
  • The presence of various microbes in the existing environment, which are the causative agents for the communicable diseases, is also resulting in the increased use of hospital supplies.
  • Hygienic practices by health professionals such as frequent glove changing and double gloving during pre and post operative procedures is also one of the factors in the increased demand for hospital supplies.

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In addition to the demand for hospital supplies, the hospital supplies market are also facing challenges in the form of the emergence of home care services, the stringent regulatory framework by government institutions, the growth of personalized medicine and decline in private health insurance are the factors that can impede the growth of this market. Various technological innovations in the field of medicine and healthcare continue to drive the hospital supplies market size especially in the medical equipment and supplies space.

During 2015, the global medical equipment and supplies market has been a promising year with about 103 deals across the globe. An increasingly aging population is playing an important role in continuing to drive growth across the medical devices sector. The healthcare industry is steering towards environment-friendly hospital supplies that are free of chemicals and toxicity and have a low environmental footprint in their manufacture, use, and disposal.

 Hospital Supplies Market Segmentation – A brief summary

The global hospital supplies market is segmented based on parameters such as Product Type and Geography. By product type, the hospital supplies market is segmented into Operating Room Equipment, Sterilization and Disinfectant Equipment, Mobility Aids and Transportation Equipment, Disposable Hospital Supplies, Patient Examination Devices, Syringes, and Needles. The Disposable Hospital Supplies occupies the maximum hospital supplies market share with about 46% of the global hospital supplies market, which is followed by syringes and needles segment with a market share of 23%.

The disposable hospital supplies market is segmented into products such as Procedure Kits and Trays, Drapes, Gowns, Feeding Tubes. It is forecasted that amongst all other segments, the safety-enhanced devices and infection resistant nonwovens would see a rapid growth in the coming decades. In addition, the priority in sectors for investment pertaining to medical equipment in the next five years in medical lasers, dental equipment, endoscopes and diagnostic equipment is expected to expand the size of the global hospital supplies market.

Geographically, the hospital supplies market in terms of global industry size is North America, which is followed by Europe, Asia-Pacific and the Rest of the World. North America is the leading player in the global hospital supplies market with the United States of America remains the largest medical equipment and supplies market in the world and continues to lead the way in terms of mergers and acquisitions in this market.

The Asia-Pacific region is the other market where there is would be steady growth due to major health care reforms being undertaken by countries like China, India in addition to joint ventures, collaborations, mergers and acquisitions happening in health care sector leading to major demand for hospital supplies in these countries.

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