According to Precedence Research, the global medical disposables market size is expected to reach USD 844 billion by 2027 and is expected to exhibit a CAGR of 16.2% from 2020 to 2027.
The report provides the overall revenue of the global medical disposables market from 2016 to 2027, considering 2020 as the base year and 2027 as the forecast year.
Medical disposables comprise material and devices that play an important role in several medical fields. Medical disposables commonly include pediatric, hygiene, anesthesia, and surgical wear. These materials and devices are gaining traction owing to the increasing number of hospitals across the globe. The medical disposable market is expected to witness significant growth over the forecast period due to continuous product development and product launches by market players.
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The increasing number of surgeries across the globe is a major factor responsible for medical disposables market growth. According to Molnlycke Health Care AB, in Europe, around 70 million surgeries are performed every year. Medical disposables include disposables eye gear, respiratory supplies, hand sanitizers, sterilization supplies, sanitary napkins, and hospital gowns, which are essential requirements for surgeries. Moreover, the growing incidence of HAIs owing to lack of precaution and sanitation is another factor expected to further drive the market growth. Moreover, a growing number of chronic diseases including cardiovascular diseases and diabetes are expected to have a positive impact on market growth.
Healthcare products with improved performance, infection inhibition and effectiveness are driving the demand of medical disposables across the globe. Need for disposable devices are growing in emergent nations, as these countries are updating their healthcare infrastructure. A growing number of hospital admissions due to the COVID-19 outbreak across the globe have boosted the demand for medical disposables extensively. The WHO appealed to government and industries to increase the production of personal protective equipment such as medical masks, aprons, gowns, goggles, respirators, and face shields by 40% to fulfill the demand increased by hospitals. Therefore, the outbreak of COVID-19 is expected to drive tremendous medical disposable market growth.
- Among products, disposable masks accounted for the largest market share, in 2019. This high revenue market share is attributed to rapidly spreading COVID-19 worldwide.
- Among raw materials, nonwoven material is projected to grow with the fastest CAGR during the forecast period due to growing number of hospital admissions.
- Based on end-use, the hospital segment is projected to emerge as fastest growing over the forecast period due to increasing number of patients for treatments of COVID-19 and surgeries in hospitals.
- Asia Pacific is projected to grow with the highest CAGR from 2020 to 2027 due to growing number of COVID-19 patients and surgeries.
In 2019, North America held the largest market share in terms of revenue. Factors such as increasing awareness about protection from infections, technological advancement in the healthcare industry, and government initiatives for healthcare management are responsible for driving the market growth in North America. U.S. Russia, Germany, China, Japan, France, Brazil, Italy, India, and UK will consists of the 10 prime markets for medical disposables, and together will account for around two-thirds of total global demand. Growth of the medical disposable market in the BRIC countries and other emergent nations is projected to surpass as the healthcare industry is modernized, extended, and modified to official infection prevention protocols in this region.
Thus, the rising number of patients infected by COVID-19 in Asia Pacific is expected to drive the market growth during near future. Asia Pacific medical disposable market is expected to exhibit the fastest CAGR during the forecast period. The major factors contributing to a positive impact on market growth in this region are the increasing prevalence of chronic diseases and the growing geriatric population. Additionally, India is one of the top 20 markets for medical devices across globe and is the 4rth largest markets in Asia Pacific. Different domestic players are greatly involved in engineering low-end products for international and local consumption. Nevertheless recently, numerous international corporations have established local existence in India.
In addition, key players present in this region are striving to come up with new products to strengthen their footprints in the competitive market, which is expected to propel the regional market growth in the next few years.
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Key Players & Strategies
The prominent players operating in this market are Bayer AG, BD, Smith & Nephew PLC, Cardinal Health and Medline Industries, Inc. Market players are focusing on adopting new marketing strategies such as mergers, acquisitions, product development, and product launches to promote medical disposable market growth. For example, in 2019, 3M announced the acquisition of Acelity Inc. to strengthen wound management solutions and to gain a maximum customer base. In addition, Smith & Nephew PLC acquired Osiris Therapeutics, Inc., in 2019 in order to enhance its wound management product portfolio. These initiatives implemented by key market players are expected to drive the market growth in the next few years.
Segments Covered in the Report
This research report estimates revenue growth at global, regional, and country levels and offers an analysis of present industry trends in every sub-segment from 2016 to 2027. This research study analyzes market thoroughly by classifying global medical disposable market report on the basis of different parameters including product, raw material, end use, and region as follows:
- Wound Management Products
- Drug Delivery Products
- Diagnostic and Laboratory Disposables
- Dialysis Disposables
- Incontinence Products
- Respiratory Supplies
- Sterilization Supplies
- Non-woven Disposables
- Disposable Masks
- Disposable Eye Gear
- Disposable Gloves
- Hand Sanitizers
- Gel Sanitizers
- Foam Sanitizers
- Liquid Sanitizers
- Other Sanitizers
By Raw Material
- Plastic Resins
- Nonwoven Material
- Paper and Paperboard
- Home Healthcare
- Outpatient/Primary Care Facilities
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
Thanks for reading you can also get individual chapter-wise sections or region-wise report versions such as North America, Europe, or the Asia Pacific.
Why Buy this Report?
The purpose of Precedence Research’s medical disposables market study is to provide stakeholders with a detailed picture of potential barriers and untapped opportunities. The report contains exclusive information to assist businesses in making informed decisions about how to maintain growth throughout the assessment period.
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