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Disposable Hospital Supplies segment is expected to drive the growth of the global hospital supplies market by type.
According to a new market research study titled ‘Hospital Supplies Market - Global Analysis and Forecasts by Type. The global hospital supplies market is expected to reach US$ 101.0 Bn in 2027 from US$ 37.9 Bn in 2018. The market is estimated to grow with a CAGR of 11.9% from 2019-2027. The report highlights the trends prevalent in the global hospital supplies market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to increasing prevalence of chronic diseases, rising geriatric population, rise in influence of hospital acquired infections and growing government healthcare expenditure. However, factors such as, stringent regulatory criteria for approval hospital supplies are likely to pose a negative impact on the market growth.
Global hospital supplies market, based on the type was segmented into syringes, patient examination devices, mobility aids and transportation equipment, operating room equipment, sterilization and disinfectant equipment and disposable hospital supplies. In 2018, the disposable hospital supplies segment held the largest share of the market, by type. This segment is also expected to dominate the market in 2027 owing to high demand for hospital disposables and growing number of multispecialty hospitals. Moreover, the syringes hospital supplies segment is anticipated to witness the significant growth rate of 12.7% during the forecast period.
Some of the prominent players operating in market are 3M Healthcare, B. Braun Melsungen AG, BD, Cardinal Health, Terumo Medical Corporation, Boston Scientific Group, Nipro Medical Corporation, Baxter, Smiths Medical, GE Healthcare. The market players are focused towards bringing new and innovative products through inorganic activities to sustain their position in the market. For instance, in April 2019, Cardinal Health Partners with Perioperative Nurse to Alleviate Impact of Heat in the Operating Room. Cardinal Health CoolSource Cooling System, a disposable solution which is designed to keep the OR cool by reducing heat and empowering clinicians to focus more on patient care.
The report segments the global hospital supplies market as follows:
Global Hospital Supplies Market – By Type
Global Hospital Supplies Market – By Geography
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