Medical supplies are the medical instrument and device supplies, that are used in various medical centers, medical institutions and hospitals. Various medical instruments and devices include thermometers, glucose meters, blood processing devices, wound care instruments and accessories, and monitoring systems. The demand for the medical supplies is experiencing an increasing trend since the market players are introducing technically advanced medical supplies that can aid medical professionals to handle their patients in a better way. The outpatient facilities and hospitals are adopting strict policies towards infection- prevention for better care of the patient, which is driving the growth of the market.
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Based on application, the global medical supplies market is segmented into urology, ophthalmology, radiology, anesthesia, sterilization, cardiology, wound care and others. Anesthesia was the largest application in 2016 due to increase in the number of surgical procedures performed and rise in respiratory diseases.
Based on type, the global medical supplies market is categorized into sterilization consumables, personal protective equipments (PPE), infusion products, radiology consumables, wound care consumables, diagnostic supplies, inhalation products, dialysis consumables, infection control supplies, intubation and ventilation supplies, hypodermic products, and other supplies. Among different types of medical supplies, dialysis consumable segment is expected to witness the fastest growth during the forecast period (2017-2023) due to increase in renal disease cases, rise in diabetic patients and aging population.
Global medical supplies market is expected to grow during the forecast period due to the growing population, increase in number of hospitals, rise in the frequency of communicable diseases, and aging population. Also, increase in medical conditions such as diabetes and renal disease, rise in surgeries, rise in hospital acquired infections and increase in awareness are driving the growth of the global medical supplies market. The increase in number of hospital acquired infection cases have significant positive impact on the growth of the global medical supplies market. According to the World Health Organization (WHO), every 10 people in developing countries and 7 in developed countries acquire at least one infection from hospital, of every 100-hospitalized patient, at any given point of time.
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Global medical supplies market is highly competitive and major players are acquiring smaller players to increase their market share. The key players in the global market are Boston Scientific, Medtronic plc, Baxter International Inc., Johnson & Johnson. Other players in this market are Cardinal Health Inc., Halyard Health Inc., Thermo Fisher Scientific, B. Braun, Becton, Dickinson and Company, and 3M Company.