during the forecast period. The major factors driving the growth of this market are the growing prevalence of chronic diseases worldwide, rising government-funded investments and initiatives in healthcare projects, increasing demand for infection control measures to curb HAIs, rising number of surgical procedures, and the increasing demand for medical devices.
New York, Aug. 02, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Supplies Market by Type, Application, End-User - Global Forecast to 2027" - https://www.reportlinker.com/p04814908/?utm_source=GNW
However, product recalls and stringent regulatory requirements for the approval of medical supplies are factors expected to restrain the growth of this market in the coming years.
The intubation & ventilation supplies segment held the largest share of the medical supplies market in 2021
The medical supplies market by type is further segmented into disinfectants, catheters, personal protective equipment, wound care consumables, infusion & injectable supplies, diagnostic supplies, radiology consumables, intubation & ventilation supplies, sleep apnea consumables, sterilization consumables, dialysis consumables, , and other medical supplies. In 2021, the intubation & ventilation supplies segment accounted for the largest share of the medical supplies market in 2021, owing to the growing demand for intubation and ventilation consumables due to the outbreak of COVID-19.
The other application segment is estimated to grow at a rapid rate during the forecast period
Based on application, the medical supplies market is segmented into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications.In 2021, the other applications segment accounted for the largest share of the medical supplies market.
Moreover, the cardiology segment is expected to register the highest CAGR during the forecast period. The high growth in this segment can primarily be attributed to the increasing prevalence of cardiovascular diseases worldwide.
Hospitals segment held the largest share of end users of the medical supplies market in 2021
The end user segment of the medical supplies market is further segmented into clinics/physician offices, hospitals, and other end users. The dominant share was held by the hospitals segment in 2021which was driven by the increasing investments in healthcare systems, the growing prevalence of HAIs, and the high incidence of chronic diseases.
Asia Pacific is the fastest-growing regional market for medical supplies
In 2021, the medical supplies market is further divided into North America, Europe, Asia Pacific and ROW (Rest of the World).The dominating shares of the market was held by the North America region in 2021 and Europe held the second largest share in the same year.
Although, the Asia Pacific region is expected to grow with the fastest growth rate during the forecast period of 2022 to 2027.This is attributed to the expanding geriatric population, advancing medical tourism industry in the region and the high burden of the chronic diseases.
These factors have placed huge demand of the medical supplies consumables which has propelled the market growth in the region..
The breakdown of the Primary Participants Profiles have been provided below:
• By Company Type: Tier 1: 35%, Tier 2: 45%, and Tier 3: 20%
• By Designation: C-level: 35%, Director-level: 25%, and Others: 40%
• By Region: North America: 45%, Europe: 20%, Asia Pacific: 30%, and the Rest of the World: 5%
The key players operating in the medical supplies market include
• 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)
• Whiteley (Australia)
This report studies the medical supplies market based on type, application, end user and region.The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
It evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total medical supplies market.
The report forecasts the revenue of the market segments with respect to four major regions.
Reasons to Buy the Report:
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the medical supplies offered by the top 16 players in the market. The report analyzes the medical supplies market by product and region
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the markets for various medical supplies across key geographic regions
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the medical supplies market
• Competitive Assessment: In-depth assessment of market shares and strategies of the leading players in the medical supplies market
Read the full report: https://www.reportlinker.com/p04814908/?utm_source=GNW
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