Dublin, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The "Medical Disposables - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering. Global Medical Disposables Market to Reach $501.8 Billion by 2026
The global market for Medical Disposables estimated at US$383.1 Billion in the year 2022, is projected to reach a revised size of US$501.8 Billion by 2026, growing at a CAGR of 8.9% over the analysis period.
The global market is growing at a rapid rate, driven by the increasing cases of chronic diseases that require longer hospital admissions, growing number of surgical procedures, increase in incidences of Hospital Acquired Infections (HAIs), and above all, the impact of the outbreak of the COVID-19 pandemic across the globe.
Continued emphasis on relatively higher number of patient admissions and widespread COVID-19 testing programs across the world are among the major factors that enabled the medical disposables market to maintain a progressive momentum. Although the overall growth in the market remained positive, the surgical instruments & supplies and infusion & hypodermic devices segments took a beating as number of surgeries performed and volume of associated services provided remained lower, especially during the first two quarters.
Another driving factor for the growth of the medical disposables market is the increasing geriatric population across the world. Prevalence of chronic medical conditions such as cardiovascular diseases and diabetes is on the rise, and this trend is expected to positively impact medical disposables market growth.
Surgical Instruments & Supplies, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$57.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Bandages & Wound Dressings segment is readjusted to a revised 6.1% CAGR for the next 7-year period.
This segment currently accounts for a 10.5% share of the global Medical Disposables market. Steered by robust increase in wound care requirements in verticals such as surgical wounds, trauma, lacerations, diabetic ulcers, venous ulcers, burns, and pressure ulcers, demand for various traditional wound dressings such as gauzes, bandages, body netting, cohesive wraps, composite dressings, and non-adherent dressings, exhibited progressive growth.
The U.S. Market is Estimated at $94.5 Billion in 2022, While China is Forecast to Reach $73.5 Billion by 2026
The Medical Disposables market in the U.S. is estimated at US$94.5 Billion in the year 2022. The country currently accounts for a 24.67% share in the global market.
China, the world's second largest economy, is forecast to reach an estimated market size of US$73.5 Billion in the year 2026 trailing a CAGR of 10.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 7.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR while Rest of European market (as defined in the study) will reach US$79.9 Billion by the end of the analysis period.
US dominates market growth due to increasing number of surgeries performed in this region and the presence of major market players. Additionally, the US witnessed significant increase in the number of COVID-19-affected patients, which boosted the demand for medical disposables.
Other factors driving demand include established healthcare infrastructure; increased healthcare spending; large patient pool; government initiatives; increasing awareness about cross-contamination and infection control in healthcare and medical fields; and higher rates of advanced technology adoption.
In Asia-Pacific, growth is set to be driven by the increasing geriatric population and rising incidence of cardiovascular diseases. The presence of several major players engaged in the development of medical disposable products in countries such as Japan and India are expected to boost Asia Pacific`s medical disposables market growth. What`s New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year
Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
Competitive Market Presence - Strong/Active/Niche/Trivial for 87 Players Worldwide in 2022 (E)
Impact of Covid-19 and a Looming Global Recession
Impact of COVID-19 on Select Segments
Global Medical Disposables to Grow at a Rapid Rate
US Dominates the Medical Disposables Market, Asia-Pacific to Witness Fastest Growth
Mobilization Efforts by Private Tech Companies to Combat Medical Supplies Shortage during COVID-19
2. FOCUS ON SELECT PLAYERS (Total 87 Featured)
Johnson & Johnson Services, Inc.
Increasing Prevalence of Chronic Disorders and Rise in Surgical Procedures Fuels Market Growth
Growing Threat of Hospital-Acquired Infections Spurs Demand for Medical Disposables
Leading Nosocomial Infections in the US: Percentage Breakdown of Healthcare Cost by Infection Type
Increasing Healthcare Expenditure to Foster Market Growth
Bandages & Wound Dressings Market to Exhibit Significant Growth
Adhesive Bandages Explore Novel Design Variations
Diagnostic & Laboratory Disposables Registers Burgeoning Growth
Emergence of PCR as a Preferred COVID-19 Detection Method
Rise in Air Pollution Levels Trigger the Demand for Face Masks
Percentage Share Breakdown of Global Deaths Linked to Air Pollution
Designers Revamp Face Masks into a Fashion Accessory
4. GLOBAL MARKET PERSPECTIVE III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/kyj3tj
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