Medical Supplies Market worth $163.5 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, July 26, 2022 /PRNewswire/ -- Medical Supplies Market is projected to grow from USD 138.4 billion in 2022 to USD 163.5 billion by 2027, at a CAGR of 3.4% from 2022 to 2027 according to a new report by MarketsandMarkets™. The Growth in this market can be attributed to the expanding geriatric population, increasing research investments, high volume of surgical procedures, and the high prevalence of chronic diseases.
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In 2021, intubation & ventilation supplies accounted for the largest share of the medical supplies market, by type.
By type, the medical supplies market is segmented into diagnostic supplies, dialysis consumables, wound care consumables, radiology consumables, disinfectants, infusion & injectable supplies, intubation & ventilation supplies, personal protective equipment, sterilization consumables, catheters, sleep apnea consumables, and other medical supplies. In. The intubation & ventilation supplies segment held the highest share which is attributed to its massive demand amid the outbreak of novel coronavirus. The overwhelming influx of the COVID-19 patients placed a huge demand for the intubation & ventilation supplies which fuelled the share of the market.
By other application accounted for the largest market share in 2021.
Based on the application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The other application segment held the largest share. The other application areas include the dentistry, neurology, gastroenterology, orthopedics, and waste management applications. The market share of the segment is driven by the high numbers of surgeries, and increasing prevalence of neurological disorders, dental diseases, GI disorders, and others.
By end user, hospitals accounted for the largest market share in 2021.
Based on end user, the market is segmented into hospitals, clinics/physician offices, and other end users. In 2021, the hospitals segment accounted for the largest share of the market. This can be attributed to the increasing healthcare investments, and advanced infrastructure.
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North America was the largest regional market for medical supplies market in 2021.
The medical supplies market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Rest of the World. North America held the largest share of the market in 2021, followed by Europe. The largest market share of North America is driven by the high incidence of strong presence of industry players, high prevalence of chronic and infectious diseases, and advanced healthcare infrastructure in the region.
Some of the major players operating in the medical supplies market are Medtronic plc (Ireland), Cardinal Health (US), BD (US), Johnson & Johnson, Inc. (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (US), Baxter (US), 3M (US), Smith & Nephew (Ireland), Convatec Inc. (UK), Abbott (US), Cook Medical (US), Merit Medical Systems (US), Stryker (US), Terumo Corporation (Japan), Teleflex Incorporated (US), Fresenius Medical Care AG & Co. KGaA (Germany), Coloplast Group (Denmark), Hamilton Medical (Switzerland), ACell, Inc. (US), Invacare Corporation (US), Medline Industries, LP. (US), DeRoyal Industries, Inc. (US), Shenzhen MedRena Biotech Co., Ltd. (China), Kerecis (US) and Whiteley (Australia).
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Browse Adjacent Market: Medical Devices Market Research Reports & Consulting
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