Surging Hospitalization Rates For Numerous Chronic And Infectious Ailments Are Driving Demand For Hospital Supplies Market: Fact.MR

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Apr. 19, 2022 15:00
SEOUL--(Korea Newswire)--According to the latest Fact.MR analysis, the global hospital supplies market is predicted to grow at a CAGR of over 3%, reaching US$ 23 Bn by the end of the 2021-2031 forecast period, concludes Fact.MR’s recently published report. The rising prevalence of hospital-acquired infections is spurring the adoption of protective gear, thus stimulating market demand.

From 2016 to 2020, sales of hospital supplies expanded at under 3% CAGR, reaching US$ 18 Bn by the end of the historical period. COVID-19 has fueled expansion prospects, with hospitals, clinics, and dispensaries deploying protective gear, including disposable gloves, gowns, drapes, and masks.

Healthcare Digitization Increasing The Need For Healthcare supplies

Digital technology is supporting the healthcare business and growing demand for hospital supplies as hospitals shift to a new patient-centered care model and develop smart health approaches to improve access, improve quality, increase affordability, and cut expenses.

Since the release of COVID-19, the use of digital technologies such as AI, telemedicine platforms, virtual services, and home diagnostics has exploded. As a result, demand for sophisticated monitors, servers, and other hospital-grade smart devices has grown, paving the way for future expansion.

Key Takeaways from the Market Study

1. By product type, disposable medical gloves sales to account for 3/5th of overall demand
2. Surgical procedure packs demand to surge at a CAGR of 4% until 2031
3. By end-user, hospitals to generate the bulk of the global demand, accounting for 70% of total sales
4. Digital technology is assisting the healthcare industry and boosting market expansion
5. Hospital supplies demand in the U.S accounted for 38.2% of the total share in 2020
6. More than 3 out of 10 sales of hospital supplies happened across Western Europe
7. India to experience a CAGR of 3% in the hospital supplies demand, amid surging healthcare infrastructure developments

“Increasing efforts towards eradicating incidences of hospital-acquired infections is prompting healthcare providers to invest in protective hospital gear, spurring market growth,” says the Fact.MR analyst.

Key Segments Covered In Hospital Supplies Industry Research

· Product Type
- Surgical Gowns
a) Disposable Gowns
b) Reusable Gowns

- Surgical Drapes
a) Disposable Drapes
b) Reusable Drapes

- Surgical Gloves
a) Disposable Gloves
b) Reusable Gloves

- Surgical Packs

- Feeding Tubes

· End-User
- Hospitals
- Ambulatory Surgical Centres
- Specialty Clinics

Competitive Landscape

In the following decade, manufacturers in the Commercial Seaweed market will focus on strategic acquisitions, collaborations, and product launches.

1. To eradicate COVID-19, Siemens donates oxygen concentrators to hospitals in India. The Siemens Caring Hands e.V. charity is delivering 100 oxygen concentrators to hospitals in Bengaluru, Goa, and Chennai as part of a long-term effort to combat the pandemic in India.

1. Pediatric Home Service (PHS), a Roseville, Minnesota-based independent comprehensive home care service, recently joined with Alliance Medical Supply, a San Antonio, Texas-based high-tech durable hospital supply firm servicing pediatric patients.
2. Allegro Medical is selling a variety of medical equipment, but they are particularly impressed with its orthopedic and orthotic options, which total approximately 1,400 products.

· Baxter
· GE Healthcare Technologies
· Invacare Corp
· Hill-Rom Holdings, Inc.
· TZ Medical

Some of the Hospital Supplies Market insights and estimations that make this study unique in approach and effective in guiding stakeholders in understanding the growth dynamics. The study provides:

· Details regarding the latest innovations and development in Hospital Supplies and how it is gaining customer traction during the forecast period.
· Analysis of the customer demand for the products and how it is likely to evolve in coming years.
· Latest regulations enforced by government bodies and local agencies and their impact on Demand of Hospital Supplies Market.
· Insights about the adoption of new technologies and their influence on the Hospital Supplies market Size.
· Overview of the impact of COVID-19 on the Hospital Supplies Market and economic disruptions caused by the pandemic.
· Evaluates post-pandemic impact on the Sales of Hospital Supplies Market during the forecast period.

After reading the Market insights of the Hospital Supplies Report, readers can:

· Understand the drivers, restraints, opportunities, and trends affecting the Sales of market.
· Analyze key regions holding a significant share of total Hospital Supplies market revenue.
· Study the growth outlook of Hospital Supplies market scenario, including production, consumption, history, and forecast.
· Learn consumption pattern and impact of each end-use & supply-side analysis of the Hospital Supplies market.
· Investigate the recent R&D projects performed by each market player & competitive analysis of Hospital Supplies Market Players.

Hospital Supplies Market Report:
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Mahendra Singh
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