Hospital Supplies Market predicted to witness surge in the near future

The global hospital supply market should reach $45 billion by 2023 from $37.5 billion in 2018 at a compound annual growth rate (CAGR) of 3.7% for the period 2018-2023.

Report Scope:

The global hospital supply market generally consists of the following supplies: sterilization consumables (detergents and accessories); syringes and needles (general and specialized syringes); mobility aids and transportation equipment, which includes wheelchairs (manual and powered wheelchairs) and stretchers (manual and motorized stretchers); disposable hospital supplies (gowns, drapes, gloves, procedure kits and trays, and feeding tubes); and patient examination devices (thermometers and stethoscopes). In this study, both branded and non-branded hospital supplies are considered for such products. This report does not include medical devices used in hospitals, and market sizing is restricted to the product types mentioned above.

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The scope of the report includes an overview of the global market for hospital supplies and analyses of global market trends, using 2017 as the base year and forecasting 2018 through 2023 with CAGR projections.

The report discusses technological, regulatory and economic trends that are affecting the market. It also explains the major drivers and regional dynamics of the global hospital supply market and current trends within the industry.

Hospital supply end users are categorized into clinics, hospitals and surgical centers. Regional analysis includes North America (U.S., Canada), Europe (U.K., Germany, France, Spain, Rest of Europe), Asia-Pacific (China, India, japan and Rest of Asia-Pacific) and Rest of World.

The report concludes with detailed profiles of the major vendors in the global hospital supply market. Notable industry participants in this market include B. Braun, Becton & Dickinson, Advanced Sterilization Products Services Inc., 3M Healthcare and Kimberly Clark. For market estimates, data has been provided for 2017, the base year, with forecasts for 2018 through 2023. Estimated values used are based on manufacturers’ total and segmental revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.

Report Includes:

– 36 data tables and 28 additional tables
– An overview of the global market for hospital supplies
– Analyses of global market trends, with data from 2017 to 2018, and projections of compound annual growth rates (CAGRs) through 2023
– Discussion on hospital acquired infections (HAI), its prevalence and need for advanced hospital infrastructure for its prevention
– Information on telemedicine and other digital health platforms
– Company profiles of major players in the market, including 3M Co., Becton, Dickinson and Co., B. Braun Melsungen AG, Johnson & Johnson, Thermo Fisher Scientific Inc. and Stryker Corp.

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Summary

The global hospital supply market was worth nearly REDACTED in 2017. The market is expected to increase at a CAGR of REDACTED during the forecast period of 2018 to 2023. Growth in this market is being fueled by a worldwide increase in hospital-acquired infections (HAI), aging populations and the growing incidence and prevalence of chronic diseases that lead to hospitalization. However, the market is restrained due to factors such as the highly competitive market, pricing pressure and the increasing trend of home healthcare.

In 2017, disposable hospital supplies captured a highest market share of about REDACTED, followed by syringes and needles (REDACTED), operating room equipment and sterilization equipment (REDACTED and REDACTED respectively). An increasing preference for single-use products to avoid HAIs and other complications provides a great scope for the use of disposable hospital supplies and drives market growth in this segment.

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