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The factors, such as increased incidences of communal diseases coupled with the growing public awareness about hospital-acquired infections are contributing to the overall growth of the hospital supplies market. The demand of the hospital supplies market is also on the rise in developing countries.
Countries, such as Brazil and India are gradually increasing their hospital bed density figures when compared to the major countries, present globally. However, several countries face a high unmet need for hospital supplies, like sterilization and disinfectant equipment and patient examination devices, which restrict the growth of this market. Furthermore, it generates a high demand for hospital supplies in developing countries.
A growing healthcare infrastructure and rising government initiatives to enhance and expand health care facilities are augmenting the demand for hospital supplies, which is expected to boost the market, globally.
Key Market Trends
Disposable Hospital Supplies Holds the Major Share in the Market Studied
- The disposable hospital supplies segment, followed by the syringes and needles segment, contributes the largest share to the overall market.
- The disposable hospital supplies are one-time use products, such as consumables, medical apparatus, and disposable devices, which are consumed in large figures across all hospitals. These products, such as suction catheters, bandages and wraps, exam gowns, surgical sponges, face masks, hypodermic needles, gloves, and needles, are in continuous use to all hospital professionals in any domain, from cleaning to surgical theaters, as well as administrative departments, in some cases.
- Furthermore, the rising prevalence of hospital-acquired infections is expected to boost demand. According to the study "Nosocomial Pneumonia", 2019, almost 90% of the patients in the ICUs are at the risk of acquiring nosocomial pneumonia. This propels the need for usage of disposable exam gowns, gloves, face masks, etc.
- Thus, the continuous growth has been observed in the adoption of these devices, owing to the rising concern of safety and cleanliness against hospital-acquired infections, as well as to maintain the hygiene across hospitals.
North America Dominated the Overall Market and is Expected to Retain its Dominance
- North America is expected to be the dominant region in the market studied. The factors attributing to the high market share of North America are the consistent focus on the cost-effective and innovative procedures adopted in the United States, which has shown an increase in the hospital supplies market. Additionally, growing communal diseases and hospital-acquired infections are expected to drive market growth. According to the Centres for Disease Control and Prevention, in 2017, around 3,679 hospitals were reported with catheter-associated urinary tract infections in the United States. Thus, it is expected to drive the growth of the hospital supplies market in the North American region.
- Asia-Pacific, on the other hand, is expected to exhibit the fastest growth rate, over the forecast period. This can be attributed to factors, such as the increasing patient pool, rising hospital-acquired infections, and the growing focus toward safety measures in hospital operations across several high economic growth countries, such as India, China, South Korea, and other Southeast Asian countries.
The major market players include Boston Scientific Corporation, B Braun Melsugen AG, 3M Healthcare, Cardinal Health Inc., and Medtronic PLC, among others. The increasing innovation and rise in investment for various public and private organizations are expected to intensify the industry rivalry across the world. They are also collaborating with other players, to develop and promote their product, and thus, gain recognition in the market.
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