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Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Medical Supplies Market
Medical Supplies Market
Medical Supplies Market
Published date: Aug 2024 • Formats:
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  • Home ➤ Life Science ➤ Medical Devices & Supplies ➤ Medical Supplies Market

Medical Supplies Market By Type (Dialysis Consumables, Diagnostic Supplies, Disinfectants, Radiology Consumables, and Catheters), By Application (Urology, Wound Care, Sterilization, Anesthesia, Respiratory, Ophthalmology, and Cardiology), By End- User, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

  • Published date: Aug 2024
  • Report ID: 100675
  • Number of Pages: 265
  • Format:
  • Overview
  • Table of Contents
  • Major Market Players
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    • Report Overview
    • Key Takeaways
    • Type Analysis
    • Application Analysis
    • End-User Analysis
    • Key Market Segments
    • Drivers
    • Restraints
    • Opportunities
    • Regional Analysis
    • Key Players Analysis
    • Recent Developments
    • Report Scope

    Report Overview

    The Global Medical Supplies Market size is expected to be worth around USD 190.3 Billion by 2032, from USD 128 Billion in 2022, growing at a CAGR of 4.15% during the forecast period from 2023 to 2032.

    Medical supplies are a process of medical or surgical equipment that are expendable, consumable, disposable, and used for the treatment or identification of a patient’s illness, injury, or condition. Medical supplies contain disposable products or products that are used during surgery and other medical processes. These products can be used only for a single time.

    Medical supplies, devices, and instruments are manufactured and distributed to healthcare facilities to ensure safety. The number of diagnosed patients with chronic diseases has increased worldwide. This surge is a primary driving factor for this market as a greater number of diagnosed patients will require more medical supplies for treatment.  Government company investments in healthcare projects and organization development have increased, fueling this market demand.

    medical supplies market growth

    Key Takeaways

    • Market Growth: The medical supplies market is projected to reach $190.3 billion by 2032 with a 4.15% CAGR.
    • Demand Drivers: Rising chronic diseases, aging population, and non-invasive surgeries fuel market growth.
    • Surgical Procedures: Increasing surgeries creates more opportunities for medical supplies market.
    • Challenges: Stringent government regulations and inventory inefficiencies hinder market expansion.
    • Emerging Markets: Growing populations, better healthcare infrastructure, and awareness drive market prospects.
    • Key Segments: Dialysis consumables lead, and urology dominates applications in the market.
    • End-User Focus: Hospitals are primary users due to lifestyle-related diseases and advanced technologies.
    • Regional Highlights: North America holds 37% of the market, and Asia-Pacific offers growth potential.

    Type Analysis

    Dialysis Consumables Segment to Witness Significant Growth. Based on drug class, the global medical supplies market is segmented into dialysis consumables, diagnostic supplies, disinfectants, radiology consumables, and catheters.

    Among the different types of medical supplies, the dialysis consumables segment accounted for the largest market share of 34.2% during the forecast period, owing to a rise in renal disease cases, diabetic patients, and the aging population.

    Technical advancements, novel product adoption, and advantages such as compact design and mobility facilitate the requirements for the dialysis consumables devices segment.

    Application Analysis

    Based on application, the global medical supplies market is divided into urology, wound care, sterilization, ophthalmology, anesthesia, and cardiology. Among these segments, the urology segment held the largest share during the forecast period. Urology is the study and treatment of disorders of the blood vessels and hearts. Medical supplies such as ECR machines and oxygen masks are used for urology treatment.

    Infection control prevents the spread of infections in healthcare settings. Equipment such as face masks and surgical drapes are used to reduce the spreading of infection. Respiratory equipment includes oxygen masks, oxygen cylinders, and other equipment.  The urology department consumes more supplies because they have high requirements due to illnesses such as kidney stones and other urological problems that require medical supplies.

    End-User Analysis

    Based on end-users, the global medical supplies market is divided into hospitals, clinics, physician offices, and nursing homes. The hospital segment accounted for the highest market revenue share of 32% during the forecast period, due to the increasing number of hospitals and the growing dominance of lifestyle-based diseases such as obesity, hypertension, and diabetes.

    Therefore, due to increasing diseases, hospitals and the healthcare industry are adopting the latest medical technologies in hospital supplies to treat patients. Similarly, various social capital flows to the market by associates, acquisitions, self-establishment, and other forms of joint ventures are some of the major factors that have led to the development of many private hospitals.

    medical supplies market share

    Key Market Segments

    By Type

    • Dialysis Consumables
    • Diagnostic Supplies
    • Disinfectants
    • Radiology Consumables
    • Catheters

    By Application

    • Urology
    • Wound Care
    • Sterilization
    • Anesthesia
    • Respiratory
    • Ophthalmology
    • Cardiology

    By End- User

    • Hospitals
    • Clinics
    • Physician Offices
    • Nursing Homes

    Drivers

    Rising Prevalence of Infectious and Chronic Diseases

    The rapid increase in chronic and infectious diseases and the high volume of injuries place excessive requirement on medical supply products. The geriatric population worldwide is also increasing. The huge geriatric population base and the high incidence and occurrence of linked diseases propel the market growth.

    Market contributors and researchers are more dedicated to progressing medical supply products, with partnerships between companies to establish innovative products and the incoming modern technologies boosting the medical supplies market growth. The increasing popularity of non-invasive surgeries among the population, especially in developed countries, is fueling the requirement for the market.

    Increase in Amount of Surgical Procedure

    The increase in surgical procedures will provide additional opportunities for medical supplies to drive market growth in the upcoming years.

    Restraints

    The strict government needs and compliance for various medical supplies

    The strict government needs and compliance for various medical supplies are also anticipated to obstruct the market’s growth during the forecast period. According to a study, the popularity of inventory distractions is suboptimal, and nearly half of them are unnecessary, given the shortage of visibility and the information that health systems often obtain supplies based on historical models and physician importance rather than use and projected demand.

    As a result, their waste processes are hindered, and inventory and carrying investments are high. Stringent regulation by the government and the decrease in private health insurance hindered the growth of the medical supplies market.

    Opportunities

    Increasing Medical Tourism and Emerging Markets  

    The emerging economies offer lucrative potentials in the market with a vast population base, increasing incidence of infectious and chronic diseases, developing healthcare infrastructure and expenditure, and a huge population. The improved healthcare infrastructure and the more reasonable treatment and diagnosis promote medical tourism in the region.

    There has been an increasing dominance of chronic diseases such as diabetes, cancer, etc., owing to sedentary lifestyles. However, healthcare agencies are focusing on improving diagnosis and treatments through awareness drives and more surgical procedures. Furthermore, medical supplies allow effective workflow during surgeries. Thus, growing chronic disease increases in diagnosis and surgical processes are anticipated to create significant opportunities for the medical; supplies market growth during the forecast period.

    Regional Analysis

    North America Region Accounted Significant Revenue Share of the Medical Supplies Market

    North America accounted for a significant medical supplies market revenue share of  37%. During the forecast period.  Due to the high focus on the cost-effective and innovative procedures adopted in the US, increasing incidence of inflammatory and hospital-acquired infections.

    The increasing geriatric population, rising healthcare expenditure, and demand for surgeries among the population drive the regional growth of the market. However, higher health and medical insurance adoption encourages the population to optimize hospital facilities. All these factors are anticipated to contribute positively to the medical supplies market’s growth in North America.

    The European medical supplies market is the world’s second-largest due to the increment in healthcare expenditure and the region’s healthcare infrastructure development.

    Asia-Pacific is projected to be the maximum opportunistic market during the forecast period. Owing to the rise in the elderly population. The increase in investments by the government sector in developing healthcare infrastructure. The vast population and increasing awareness regarding non-invasive surgeries are the various factors that can be held for the growth of the medical supplies market during the forecast period.

    medical supplies market region

    Key Regions

    • North America
      • The US
      • Canada
      • Mexico
    • Western Europe
      • Germany
      • France
      • The UK
      • Spain
      • Italy
      • Portugal
      • Ireland
      • Austria
      • Switzerland
      • Benelux
      • Nordic
      • Rest of Western Europe
    • Eastern Europe
      • Russia
      • Poland
      • The Czech Republic
      • Greece
      • Rest of Eastern Europe
    • APAC
      • China
      • Japan
      • South Korea
      • India
      • Australia & New Zealand
      • Indonesia
      • Malaysia
      • Philippines
      • Singapore
      • Thailand
      • Vietnam
      • Rest of APAC
    • Latin America
      • Brazil
      • Colombia
      • Chile
      • Argentina
      • Costa Rica
      • Rest of Latin America
    • Middle East & Africa
      • Algeria
      • Egypt
      • Israel
      • Kuwait
      • Nigeria
      • Saudi Arabia
      • South Africa
      • Turkey
      • United Arab Emirates
      • Rest of MEA

    Key Players Analysis

    The market is moderately fragmented, with various companies trying to gain higher market share by adopting strategies such as investments and partnerships. Companies also spend on developing improved products; however, they also focus on maintaining competitive pricing. Medtronic plc, Cardinal Health, B. Braun Melsungen AG, Johnson& Johnson, 3M Company, and other prominent market players in the medical supplies market. The following are some of the major players in the global medical supplies market industry.

    Medical Supplies Market Key Players

    • 3M Company
    • Medtronic plc
    • Boston Scientific Corporation
    • Johnson & Johnson
    • Baxter International, Inc.
    • Thermo Fisher Scientific Inc.
    • Braun Melsungen AG
    • Halyard Health Inc.
    • Merit Medical Systems
    • Abbott
    • Fresenius Medical Care AG
    • ConvaTec Group Plc
    • Cardinal Health, Inc.
    • Avanos Medical, Inc.
    • Acelity, Inc.
    • Smith & Nephew plc
    • Coloplast Group
    • Other Key Players

    Recent Developments

    • In April 2024: 3M completed the spin-off of its healthcare business, launching Solventum Corporation as an independent entity. This move aimed to create two well-capitalized companies, each positioned to pursue their respective growth and innovation strategies effectively. Solventum is now listed on the New York Stock Exchange under the ticker symbol SOLV. This strategic decision is expected to enhance the agility and focus of both companies.
    • In January 2024: Boston Scientific announced its plan to acquire Axonics, Inc., a medical technology company focused on innovative devices for treating urinary and bowel dysfunction. This acquisition, valued at approximately $3.7 billion, aims to expand Boston Scientific’s urology portfolio and marks their entry into sacral neuromodulation, a therapy for overactive bladder and fecal incontinence.
    • In May 2023: Baxter announced the sale of its BioPharma Solutions business to private equity firms Advent International and Warburg Pincus for $4.25 billion. The transaction is slated to close in the second half of 2023, subject to regulatory approvals. This sale is part of Baxter’s broader strategy to streamline its operations and focus on its core areas. The proceeds are intended to be used to reduce Baxter’s debt.
    • In September 2022: Financial Movement, Medtronic closed a significant public offering of €3.5 billion in senior notes. This financial maneuver aimed to bolster the company’s capital structure and support its ongoing and future operational needs.

    Report Scope

    Report Features Description
    Market Value (2022) USD 128.0Bn
    Forecast Revenue (2032) USD 190.3Bn
    CAGR (2023-2032) 4.15%
    Base Year for Estimation 2022
    Historic Period 2018-2022
    Forecast Period 2023-2032
    Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments
    Segments Covered By Type- Dialysis Consumables, Diagnostic Supplies, Disinfectants, Radiology Consumables, and Catheters; By Application-Urology, Wound Care, Sterilization, Anesthesia, Respiratory, Ophthalmology, and Cardiology; By End-User-Hospitals, Clinics,  Physician Offices, and Nursing Homes
    Regional Analysis North America – The US, Canada, & Mexico; Western Europe – Germany, France, The UK, Spain, Italy, Portugal, Ireland, Austria, Switzerland, Benelux, Nordic, & Rest of Western Europe; Eastern Europe – Russia, Poland, The Czech Republic, Greece, & Rest of Eastern Europe; APAC – China, Japan, South Korea, India, Australia & New Zealand, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam, & Rest of APAC; Latin America – Brazil, Colombia, Chile, Argentina, Costa Rica, & Rest of Latin America; The Middle East & Africa – Algeria, Egypt, Israel, Kuwait, Nigeria, Saudi Arabia, South Africa, Turkey, United Arab Emirates, & Rest of MEA
    Competitive Landscape 3M Company, Medtronic plc, Boston Scientific Corporation, Johnson&Johnson, Thermo Fisher Scientific Inc., B Braun Melsungen AG, Merit Medical Systems, and Other Key Players
    Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements.
    Purchase Options We have three licenses to opt for: Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF)

    Frequently Asked Questions (FAQ)

    What does the current study of the medical supplies market consist of?

    The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

    What is the projected market value of the global medical supplies market?

    In 2022, the global medical supplies market was valued at US$ 128.0 billion. Between 2023 and 2032, this market is estimated to register the highest CAGR of 4.15%.

    Who are the major players operating in the medical supplies market?

    The major players operating in the medical supplies market are 3M, Medtronic, BD, Cardinal Health, Inc., Johnson & Johnson, B. Braun Melsungen AG, Boston Scientific Corporation, Thermo Fisher Scientific, Inc., Baxter International, Inc., Avanos Medical, Inc

    Medical Supplies Market
    Medical Supplies Market
    Published date: Aug 2024
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    • 3M Company Company Profile
    • Medtronic plc
    • Boston Scientific Corporation Company Profile
    • Johnson& Johnson
    • Baxter International, Inc.
    • Thermo Fisher Scientific Company Profile
    • B. Braun Melsungen AG Company Profile
    • Halyard Health Inc.
    • Merit Medical Systems
    • Abbott Laboratories
    • Fresenius Medical Care AG
    • ConvaTec Group Plc
    • Cardinal Health, Inc.
    • Avanos Medical, Inc.
    • Acelity, Inc.
    • Smith & Nephew plc
    • Coloplast Group
    • Other Key Players
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