The Global Medical Supplies Market accounted for USD 138.96 Billion in 2021.
The Healthcare sector is growing significantly grown since the last decade. As well chronic and infectious disease prevalence across the globe is increasing at its unprecedented level. This is increasing the demand for Medical Supplies further propelling the market growth over the forecast period. Medical Supplies include diagnostic supplies, infusion & injectable, intubation & ventilation, disinfectants, sterilization consumables, among others.
The outbreak of COVID-19 has increased the demand for these supplies explosively. Owing to the COVID-19 pandemic the demand and supply gap of these products has been increasing. Additionally, since COVID-19 the awareness among the population regarding health is increasing tremendously. Thus, people are paying more attention to healthy lifestyles which are increasing the demand for diagnostic supplies, disinfectants, sterilization consumables as well as, personal protective equipment.
Moreover, the awareness regarding routine checkups as well as early diagnosis of diseases is also increasing. Diagnostic Supplies such as blood collection consumables and other sample collection consumables from labs and other diagnostic centers.
Furthermore, owing to the COVID-19 pandemic, the government has approved several new safety regulations which have boosted the demand for sterilization Consumables. Additionally, the increasing number of accidents, increasing number of injuries, surgeries is further propelling the demand for wound care consumables.
Moreover, increasing other infectious as well as chronic diseases along with population is surging the demand for other Medical Supplies such as, catheters, sleep apnea consumables, and dialysis consumables along with other Medical Supplies . Thus, these are some of the factors increasing the demand for Medical Supplies further propelling the Medical Supplies market growth over the forecast period.
Asia Pacificheld the largest share for Medical Supplies Market. The market growth is attributed to factors such well-developed and established healthcare industry. Also, the presence of major key players in the region is further fueling the market growth in the region. Asia Pacificis anticipated to grow at the fastest CAGR over the forecast period. The market growth in the region is attributed to the factors such as the presence of emerging economies, and the present large base of population among others.
Some of key players inMedical Supplies Marketinclude -Cardinal Health, Inc. (US), Medtronic (Ireland), B. Braun Melsungen AG (Germany), Johnson & Johnson (US), Thermo Fisher Scientific, Inc. (US), Boston Scientific Corporation (US), Avanos Medical, Inc. (US), International, Inc. (US), 3M (US), ConvaTec Group Plc. (UK), Smith & Nephew (Ireland), Cook Medical (US), Abbott (US), Merit Medical Systems (US), Terumo Corporation (Japan), Stryker (US), Fresenius Medical Care AG & Co. KGaA (Germany), Teleflex Incorporated (US), and Coloplast Group (Denmark).