Disposable Hospital Supplies Market 2020 Global COVID-19 Impact, Trend, Segmentation and Opportunities, Forecast To 2030

Disposable Hospital Supplies Market 2020 Global COVID-19 Impact, Trend, Segmentation and Opportunities, Forecast To 2030

“Disposable Hospital Supplies Market”
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Disposable Hospital Supplies Market:

Executive Summary

Disposable Hospital Supplies Global Market Report 2020-30: COVID 19 Implications and Growth from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global disposable hospital supplies market.

Major players in the disposable hospital supplies market are Abbott Laboratories, Bayer AG, Becton, Dickinson and Company, Cardinal Health Incorporated, Domtar Corporation, 3M, Stryker Corp, Hill-Rom Holdings Inc., Steris Corp, and Getinge AB.

The global disposable hospital supplies market is expected to grow from $59.7 billion in 2019 to 74.6 billion in 2020 at a compound annual growth rate (CAGR) of 25.0%. The significant growth is mainly due to the COVID-19 outbreak and the measures to contain it. Disposables including masks, wipes, disposable hospital room products, and other standard examination supplies are in huge demand by the care providers with the growing number of COVID-19 cases. On the other hand, face masks are used by population worldwide other than just care providers and patients, as masks provide effective protection against respiratory infections. However, there is a supply and demand gap due to restrictive containment measures impacting the supply chain that is likely challenging the growth. The market is then expected to stabilize and reach $93.02 billion in 2023 at a CAGR of 7.65%.

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The disposable hospital supplies market consists of the sale of disposable hospital supplies and related services. Disposable hospital supplies are products manufactured for single usage and include supplies such as face masks, gowns and gloves among others.

North America was the largest region in the hospital disposable market in 2019. Asia-Pacific is expected to be the fastest-growing region in the forecast period.

The increase in production capacities by various players dealing in disposable hospital supplies market amid coronavirus outbreak is a leading trend shaping the growth of the industry. For instance, on 15th May 2020, Honeywell announced plans to build a new production line in Scotland, UK with the capacity of producing 4.5 million FFP3 and FFP2 disposable face masks every month. These masks are likely to assist the UK government’s response to the COVID-19 outbreak. Thus, the expansion of production capacities to meet the increased demand for disposable medical supplies is projected to generate higher revenues for the market during 2020.

The disposable hospital supplies market covered in this report is segmented by type into gloves; drapes; gowns; needles; syringes; procedure kits and trays; bandages; masks. It is also segmented by product into diagnostic supplies; dialysis consumables; radiology consumables; infusion products; incubation & ventilation supplies; hypodermic products; sterilization consumables; non-woven medical supplies; wound care consumables; others, and by end-users into hospitals; clinics/physician offices; assisted living centers & nursing homes; ambulatory surgery centers; research institutes.

The government agencies are extending support to PPE manufacturers and suppliers to ensure the smooth flow of medical supplies. For instance, UNICEF launched a joint tender in April for PPE supplies during 2020 on behalf of several UN organizations. The government initiatives to help medical supplies manufacturers and suppliers are likely to play a vital role in aiding the manufacture of essential medical supplies, which in turn, is predicted to shape the disposable hospital supplies market in the forthcoming years.

Rising environmental concerns associated with the improper disposal of non-reusable hospital supplies is expected to limit the growth of the disposable hospital supplies market. In healthcare facilities, disposable gloves and gowns are widely used to maintain a sterile environment and reduce the risk of spreading infections during the pandemic. Improper disposal of supplies including gloves, gowns, masks and other personal protective equipment used during the monitoring and treatment of COVID-affected patients poses a high risk of virus spread. Environmental regulatory bodies are imposing stringent rules for proper and managed disposal of hospital wastes. For instance, in the USA, contaminated gloves are disposed of in orange-lidded containers or orange bags based on the law guidance laid by the Royal College of Nursing.

The increasing number of COVID-19 cases across the globe is projected to surge the demand for disposable hospital supplies. The rapid surge in coronavirus cases is generating huge demand for personal protective equipment (PPE) and other disposable supplies to protect healthcare workers from infections in their daily operations. According to the World Health Organization report published on the 3rd July 2020, there were 10,719,946 COVID-19 confirmed cases including 323,412 deaths globally. Therefore, the rise in the number of cases across the globe and the growing need for healthcare workers to be protected against the spread of the virus are anticipated to boost the demand for disposable hospital supplies market over the forecast period.

In April 2020, Eclipse Automation Inc. announced a collaboration with Harmontronics Automation of Suzhou, China to manufacture, distribute and sell the Harmontronics fully automated N95 Vertical Flat-Fold Respirator Mask production line system across North America. Harmontronics Automation is a factory automation solution provider for small and precise product manufacturing.

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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