NEW YORK, June 23, 2022 /PRNewswire/ -- As per Zion Market Research study, The global medical disposables market achieved revenue growth of around USD 375.64 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of approximately 14.5 percent to reach nearly USD 586.45 billion by 2028.
Key Industry Insights & Finding of the Medical Disposables Market Reports:
- As per the analysis shared by our research analyst, the Medical Disposables Market is expected to grow annually at a CAGR of around 14.5 % (2022-2028).
- Through the primary research, it was established that the Medical Disposables Market was valued approximately USD 375.64 Billion in 2021 and is projected to reach to roughly USD 586.45 Billion by 2028.
- North America led the global medical disposables market in revenue share in 2021, with more than 34 percent, due to the presence of large firms in the area and the growing number of surgical treatments.
- World Health Organization (WHO) on April 20, 2020, approximately 33,909 open cases were accounted for in Canada, with 1,509 new verified cases.
- Asia Pacific is expected to expand the fastest over the forecast period, owing to the rising prevalence of cardiovascular problems and the growing older population.
- Demand for disposable medical devices significantly increased in the last couple of years and the current COVID-19 pandemic boosted their need significantly.
Zion Market Research published the latest report titled as "Medical Disposables Market By Type (Glucose Monitoring Strips, Blood Collection Consumables, Diagnostic Catheters, Dialysis Consumables, Radiology Consumables, Infusion Products, Smart Syringes, Prefilled Syringes, Intubation & Ventilation Supplies, Hypodermic Products, Sterilization Consumables, Nonwoven Medical Supplies, Incontinence Products, Surgical Nonwoven Products, Wound Care Consumables, Infection Management Products, Exudate Management Products, And NPWT Devices), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data And Forecasts 2022 - 2028." into their research database.
Medical Disposables Market: Overview
Medical disposables are equipment and materials used in a variety of medical disciplines, including surgical wear, cleanliness, anesthesia, and pediatrics. Medical disposables, as the name implies, are designed to be used just once. These devices account for a significant portion of the medical device industry. Furthermore, as the number of hospitals grows, so does the demand for medical disposables. Because of the ongoing development of new and sophisticated goods, the market will continue to grow.
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- Zion Market Research methodology
Industry Dynamics:
Medical Disposables Market: Growth Drivers
- A surge in hospital-acquired infections may boost the demand for medical disposables.
The rise in hospital-acquired infection is a major driver of the medical disposables sector. Surgical site infections, catheter-associated urinary tract infections, ventilator-associated pneumonia, central line-associated bloodstream infections, hospital-acquired pneumonia, and Clostridium difficile infections are all illnesses that occur while receiving medical care in a hospital. As a result, the need for disposable medical products such as hypodermic needles, prefilled syringes, and others is increasing, which is boosting the global medical disposables market. Hospital-acquired bacterial, viral, and fungal diseases impact 15 percent of all patients in hospitals, according to the World Health Organization (WHO) and this number is projected to increase. As a consequence, the disposable medical devices market is expected to increase between 2021 and 2028.
Medical Disposables Market: Restraints
- Stringent government regulations may hinder market growth over the forecast period.
Demand for disposable medical devices significantly increased in the last couple of years and the current COVID-19 pandemic boosted their need significantly. However, such medical devices require approval from many medical regulators such as FDA, WHO, etc. Owing to stringent rules for the materials use, manufacturing process, clinical trials, and efficacy many disposable medical products failed in the regulatory process which limits the entry of new products into the market, which in turn affects the overall market growth.
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Global Medical Disposables Market: Opportunities
- Technical advancement in disposable medical supplies is projected to offer better growth opportunities for market expansion.
The important trends in the global medical disposables market include technological developments in medical supplies for home care settings. To maintain their market position, major manufacturers are focusing on expanding their product line with new tech. When compared to cost-effective reusable medical supplies, single-use or disposable medical gadgets are expected to save a substantial amount of money by 2028. Furthermore, such medical supplies aid in infection prevention and eliminate the time-consuming & difficult procedure of recycling the supplies. All these factors are likely to boost the market.
Global Medical Disposables Market: Challenges
- An increase in disposable medical waste poses a major challenge to market growth.
The increased waste created by disposable medical equipment is one of the issues that is expected to stymie the market's expansion. In many emerging countries proper disposal of medical waste is still a major issue. This is primarily due to low awareness about the hazards of medical waste, the willingness of health ministries, and the lack of stringent laws and their executions. Due to all these reasons amount of medical waste has already increased at an alarming level and it is expected to increase more due to rising demands.
Global Medical Disposables Market: Segmentation
- The global medical disposables market is segregated based on type and region.
Different types of medical disposables categorized in the report include blood collection consumables, glucose monitoring strips, prefilled syringes, dialysis consumables, radiology consumables, diagnostic catheters, intubation & ventilation supplies, infusion products, hypodermic products, sterilization consumables, smart syringes, incontinence products, nonwoven medical supplies, surgical nonwoven products, wound care consumables, infection management products, exudate management products, and NPWT Devices.
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List of Key Players of Medical Disposables Market :
- Boston Scientific Corporation
- Abbott Laboratories
- B. Braun Melsungen AG
- Medtronic plc
- Johnson and Johnson
- Smith and Nephew plc
- 3M Company
- Pfizer Incorporated
- Terumo Corporation
- Cardinal Health
Key questions answered in this report:
- What are the growth rate forecast and market size for Medical Disposables Market ?
- What are the key driving factors propelling the Medical Disposables Market forward?
- What are the most important companies in the Medical Disposables Market Industry?
- What segments does the Medical Disposables Market cover?
- How can I receive a free copy of the Medical Disposables Market sample report and company profiles?
Report Scope:
Report Attribute | Details |
Market size value in 2021 | USD 375.64 Billion |
Revenue forecast in 2028 | USD 586.45 Billion |
Growth Rate | CAGR of almost 14.5 % 2022-2028 |
Base Year | 2020 |
Historic Years | 2016 - 2021 |
Forecast Years | 2022 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2022 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Companies Covered | Boston Scientific Corporation, Abbott Laboratories, B. Braun Melsungen AG, Medtronic plc, Johnson and Johnson, Smith and Nephew plc, 3M Company, Pfizer Incorporated, Terumo Corporation, and Cardinal Health |
Report Coverage | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. https://www.zionmarketresearch.com/custom/3426 |
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Recent Developments
- May 2021, PENTAX Medical, an endoscopy firm located in Europe, has received CE approval for the PulmoONE, a novel single-use bronchoscope. The PulmoONE is a disposable bronchoscope with strong suction power and HD picture quality.
- May 2021, EndoFresh unveiled its innovative disposable endoscopic technology. The Food and Drug Administration (FDA) has authorized it, and it also bears the Conformitè Europenne (CE) label. It's appropriate for GI endoscopy and bedside therapy in emergency rooms (ERs), Intensive care units (ICUs), GI suites, and outpatient clinics.
Regional Dominance:
- North America is expected to lead the global market over the forecast period.
North America led the global medical disposables market in revenue share in 2021, with more than 34 percent, due to the presence of large firms in the area and the growing number of surgical treatments. Furthermore, the increase in the number of Covid-19 patients in this region has boosted the need for medical disposables. According to information released by the World Health Organization (WHO) on April 20, 2020, approximately 33,909 open cases were accounted for in Canada, with 1,509 new verified cases. Furthermore, the number of cases is projected to increase significantly in the coming month or two. These factors are projected to increase regional demand for medical disposables. The market in Asia Pacific is expected to expand the fastest over the forecast period, owing to the rising prevalence of cardiovascular problems and the growing older population. It is one of Covid-19's worst-affected locations. Covid-19 instances have been found in unusually high numbers in India, South Korea, and China. Furthermore, the densely populated regions inside this region make it simpler for the disease to spread widely. During the projected period, a larger number of prospective patients in this area is likely to drive market expansion.
Global Medical Disposables Market is segmented as follows:
Medical Disposables Market: By Type Outlook (2022-2028)
- Wound Management Supplies
- Drug Delivery Disposables
- Non-Woven Medical Disposables
Medical Disposables Market: By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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