Hospital Supplies Market:
The global hospital supplies market is expected to witness a moderate growth rate during the forecast period. The global hospital supplies market is predicted to expand at a CAGR of 10.13% to reach US$65.195 billion in 2022, from US$40.252 billion in 2017. Increasing aging population, and growing awareness regarding Hospital Acquired Infections (HAIs) among others are some of the key factors driving the market growth. Other additional factors include favorable government policies, aging population, a surge in incidences of communicable diseases, and an increase in the number of medical centers and hospitals. The global hospital supplies market is facing several challenges with the growth being observed due to high demand for personalized medicine, a decline in private health insurance, stringent regulatory framework, and emergence of customized healthcare solutions.
The disposable supplies was the major market segment in hospital supplies market in 2017 and is predicted to grow at the fastest growth rate during the forecast period. The growth of disposable hospital supplies segment is driven by low cost, minimum maintenance requirements and growing awareness of HAIs across various developing countries.
North America is forecasted the o be major market for hospital supplies followed by Europe during the forecast period due to well-developed healthcare sector in the region. Asia-Pacific is expected to grow at the highest growth rate due to increasing demand for hospital supplies from China, India, Japan and other countries in the region. Shift from non-disposable to disposable supplies to boost market share in global market due to regular restocking of disposable supplies.
The major companies in global hospital supplies market are Kimberly-Clark Corporation, Advanced Sterilization Products Services Inc., Cardinal Health, Inc., 3M Health Care, Becton, and Dickinson and Company among others. Companies are increase their market penetration by expanding through merger and acquisitions and strategic partnerships. Also, companies are expanding product portfolios through product innovation and advancements for improving their global footprint and boost their market dominance.
In this report, the global hospital supplies Market is segmented by Product Type, and geographic regions:
By Product Type
- Patient Examination Devices
- Operating Room Equipment
- Mobility Aids & Transportation Equipment
- Sterilization & Disinfectant Equipment
- Disposable Hospital Supplies
By Geographic Regions
- North America
Middle East and Africa
- Saudi Arabia
Key questions answered by the report
What will be the global hospital supplies market size from 2017 to 2022?
How are the major drivers and restraints affecting the global hospital supplies market growth and the opportunities which exist for key vendors?
Which segment and region will drive or lead the market growth and why?
A comprehensive analysis of competitive landscape and key market participants’ behavior
Key strategies being adopted by vendors, with in-depth analysis along with their impact on competition and market growth.
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