Increasing prevalence of chronic diseases is pushing the hospital consumables market to reach a valuation of US$ 383.8 million in 2022, up from US$ 346 million in 2021. This high prevalence leads to a rise in hospital admissions, which is why the market has the potential to exceed US$ 1.2 billion by 2032. Hospital consumable providers can expect a CAGR of 12.5% during this period.
| Attribute | Details |
|---|---|
| Global Hospital Consumables Market (2022) | US$ 383.8 billion |
| Global Hospital Consumables Market (2032) | US$ 1.2 billion |
| Global Hospital Consumables Market CAGR (2022 to 2032) | 12.5% |
| The USA Hospital Consumables Market (2022) | 13.2% |
| Key Companies Profiled |
|
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As per the Hospital Consumables market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2017 to 2021, the market value of the Hospital Consumables Markets increased at around 9.8% CAGR, wherein, the region North America held a significant share in the global market.
The dominance of chronic diseases like chronic respiratory diseases, cancer, and diabetes surges the demand for hospital consumables. The WHO estimated that by 2030 the global population aged 60 years and over will increase to 1.4 billion. The growing age of the elderly population is also a key factor in driving the market of hospital consumables. Owing to this, the Hospital Consumables market is projected to grow at a CAGR of 12.5% over the coming 10 years.
Hospitals in developed countries report 7 out of every 100 patients to be affected when at least one Healthcare-associated Infection recurs. The number edges toward 10 percent in developing countries. Several safeguards are being used to minimize the occurrence rate of healthcare-associated infections (HAIs). The use of disposable & sterile items, disposable gloves, gauze, tape, procedure kits, trays, and additional disposable hospital consumables are being encouraged and promoted.
The leading contributor to mortality, morbidity, and injury in elders is age. Surgical and diagnostic treatments may be necessary, which typically call for the use of disposable items such as gloves, guidewires, catheters, stethoscopes, and thermometers. The elderly population in the United States will gain both in number and influence the older it gets. According to results from the 2017 National Population Survey, one in four Americans will be an older adult by 2060. According to the 2030 USA Census Bureau estimates, all baby boomers will age 65.
The number of patients wishing to participate in modern medical equipment and services offered by Hospitals has risen on account of this immense increase in Hospital admissions.
Principal Consultant
Minimally Invasive Surgery (MIS) is becoming increasingly popular globally. In comparison to invasive operations like open-heart surgery, these methods inflict less trauma on patients and allow for a faster recovery. According to research provided by Ethicon Endo-Surgery, Inc., MIS is increasingly replacing open/invasive operations due to features such as improved patient satisfaction, fewer incision wounds, and fewer postsurgical problems, as well as reduced death rates.
Medical Devices and Accessories in the market for minimally invasive procedures such as guidewires, cannulas, and catheters, are commonly used to increase revenue. As a result, demand is expected to increase during the forecast period. Additionally, increasingly advanced surgical procedures are likely to be readily implemented because the industry will be driven by hospital trends. It is because of the potential for consumer medical devices.
With over 14% and 17% projected growth rates in China and Japan respectively, the Hospital Consumables market revenue is expected to grow at the fastest pace in APAC, from 2022 to 2032. Some of the key companies having manufacturing units in all major locations in APAC have started to expand their production units to different locations of APAC to increase fast distribution channels. While this implies a shift in the diversification of global locations, it promises a significant opportunity for the Hospital Consumables market.
Technology advancements, increased investment, improved reimbursement scenarios, and an increase in medical tourism are all aspects that are expected to drive market expansion in the region. Furthermore, in the approaching years, Asia Pacific's product demand is predicted to be boosted by a growing aging population combined with an increasing burden of chronic diseases. According to a UNFPA report, the aging population in the APAC area is increasing at an unprecedented rate, and by 2050, one in every four persons in the region will be over 60 years old, bringing the total population to close to 1.3 billion.
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The USA dominated the global Hospital Consumables market and is poised to reach US$ 516 billion by 2032. The favorable factors in the USA are medical reimbursement and technologically advanced facilities. The growing number of hospital admission and the ease of Medicare reimbursement policy attracts a large number of people.
Increased surgical operations, advantageous reimbursement policies, favorable regulatory reforms in the healthcare sector, and well-established healthcare infrastructure have helped the companies gain market share. According to the American Hospital Association, in the United States, there were 6,090 community hospitals, 208 Federal Government hospitals, and 625 nonfederal psychiatric hospitals. The number of hospitals and hospital admissions for chronic diseases has increased significantly, raising product demand and accelerating market expansion. The presence of robust distribution channels and easy access to healthcare technologies are two other significant factors driving regional market expansion.
CVDs, diabetes, and cancer are the most common diseases in this region, according to reports. Furthermore, fast-developing medical tourism and rising demand for technologically advanced and cost-effective healthcare solutions are expected to provide considerable potential prospects for this region's industry.
The hospital consumables market in the United Kingdom is expected to reach a valuation of US$ 49.5 billion by 2032. The market in the country is projected to grow at a CAGR of 11.7% from 2022 to 2032, and gross an absolute dollar opportunity of US$ 33 billion.
The market in Japan is likely to cross US$ 70 billion by 2032. The market in the country is expected to grow at a CAGR of 17% from 2022 to 2032 to mark an absolute dollar opportunity of nearly 58 billion.
The market in South Korea is expected to reach US$ 22 billion by 2032. The market in South Korea is likely to grow at a CAGR of 11.7% from 2022 to 2032 to gross an absolute dollar opportunity of around US$ 15 billion.
In 2020, the nonwoven product segment held the highest revenue share, accounting for more than 21% of total sales. Because of its expanding use during surgeries and checks, it has the highest market penetration. Nonwoven fabrics protect medical workers from hospital-acquired infections (HAIs), and their use in hospitals is projected to rise in the forthcoming years. Furthermore, the growing elderly population and the rising incidence of chronic diseases are likely to fuel demand for nonwoven disposables in hospitals around the world.
During the projection period, the IV solutions segment is expected to grow significantly. In IV therapy, IV solutions are a mix of critical nutrients used to treat electrolyte imbalances, restore fluid losses, and maintain fluid balance. People with diabetes and other conditions can also benefit from these solutions because they supply nutrients.
The incidence of CVDs, gastrointestinal illnesses, neurological diseases, cancer, and diabetes has increased. According to the World Health Organization, diarrheal disease is the second greatest cause of death among children, accounting for 0.3 million deaths in 2019. Diarrhea kills nearly half a million children under the age of five worldwide each year. In such instances, IV solutions are frequently indicated for administering intravenous therapy. During the projection period, these reasons are expected to boost the segment's growth.
Over the projected period, rising emphasis on innovations and investments among public and private entities is expected to strengthen competition in this business field. In addition, product commercialization and partnership tactics are expected to be profitable in the upcoming years.
The key vendors in the global Hospital Consumables Market are McKesson Medical-Surgical Inc., Medline Industries, B. Braun Melsungen A.G., Terumo Medical Corporation, and Owens & Minor.
The Recent Development in the Hospital Consumables market are:
The global Hospital Consumables market is worth more than US$ 383.8 billion at present.
The value of the Hospital Consumables market is projected to increase at a CAGR of around 12.5% from 2022 to 2032.
The value of the Hospital Consumables market increased at a CAGR of around 9.8% from 2017 to 2021.
The top 5 countries driving demand for the Hospital Consumables market are the USA, China, Japan, the United Kingdom, and South Korea.
The value of the Hospital Consumables market is projected to increase at a CAGR of around 13.3% from 2022 to 2032 in North America.
The USA market for Hospital Consumables is projected to expand at a CAGR of around 13.2% from 2022 to 2032.
The key companies in Hospital Consumables Market are McKesson Medical-Surgical Inc., Medline Industries, B. Braun Melsungen A.G., Terumo Medical Corporation, and Owens & Minor.
1. Executive Summary | Hospital Consumables Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background and Foundation Data Points
4.1. Global Market (US$ million)
4.2. Market Opportunity Assessment (US$ million)
4.2.1. Total Available Market
4.2.2. Product Typeable Addressable Market
4.2.3. Product Typeable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Global Market Growth
4.5.3. Adoption Rate, by Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2017 to 2021 and Forecast, 2022 to 2032
6.1. Historical Market Analysis, 2017 to 2021
6.2. Current and Future Market Projections, 2022 to 2032
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2017 to 2021 and Forecast, 2022 to 2032
7.1. Historical Market Value (US$ million) Analysis, 2017 to 2021
7.2. Current and Future Market Value (US$ million) Projections, 2022 to 2032
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Product Type
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ million) Analysis By Product Type, 2017 to 2021
8.3. Current and Future Market Size (US$ million) Analysis and Forecast By Product Type, 2022 to 2032
8.3.1. IV Solutions
8.3.2. Disposable Medical Gloves
8.3.3. IV Kits
8.3.4. Medical Gauze & Tapes
8.3.5. Disposable Syringes
8.3.6. Sharps Disposable Containers
8.3.7. Non-woven Disposable Products
8.3.8. Surgical Blades
8.3.9. Medicine Cups
8.3.10. Cannula
8.3.11. Procedure Trays
8.3.12. Other Product Types
8.4. Market Attractiveness Analysis By Product Type
9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
9.1. Introduction
9.2. Historical Market Size (US$ million) Analysis By Region, 2017 to 2021
9.3. Current Market Size (US$ million) & Analysis and Forecast By Region, 2022 to 2032
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. Asia Pacific
9.3.5. Middle East and Africa (MEA)
9.4. Market Attractiveness Analysis By Region
10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
10.1. Introduction
10.2. Pricing Analysis
10.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
10.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
10.4.1. By Country
10.4.1.1. The USA
10.4.1.2. Canada
10.4.2. By Product Type
10.5. Market Attractiveness Analysis
10.5.1. By Country
10.5.2. By Product Type
11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032
11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
11.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
11.4.1. By Country
11.4.1.1. Brazil
11.4.1.2. Mexico
11.4.1.3. Rest of Latin America
11.4.2. By Product Type
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Product Type
12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
12.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
12.4.1. By Country
12.4.1.1. Germany
12.4.1.2. France
12.4.1.3. The United Kingdom
12.4.1.4. Italy
12.4.1.5. Benelux
12.4.1.6. Nordic Countries
12.4.1.7. Rest of Europe
12.4.2. By Product Type
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Product Type
13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
13.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
13.4.1. By Country
13.4.1.1. China
13.4.1.2. Japan
13.4.1.3. South Korea
13.4.1.4. Rest of Asia Pacific
13.4.2. By Product Type
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Product Type
14. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Value (US$ million) Trend Analysis By Market Taxonomy, 2017 to 2021
14.4. Market Value (US$ million) & Forecast By Market Taxonomy, 2022 to 2032
14.4.1. By Country
14.4.1.1. GCC Countries
14.4.1.2. South Africa
14.4.1.3. Turkey
14.4.1.4. Rest of Middle East and Africa
14.4.2. By Product Type
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Product Type
15. Key Countries Market Analysis 2017 to 2021 and Forecast 2022 to 2032
15.1. Introduction
15.1.1. Market Value Proportion Analysis, By Key Countries
15.1.2. Global Vs. Country Growth Comparison
15.2. US Market Analysis
15.2.1. Value Proportion Analysis by Market Taxonomy
15.2.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.2.2.1. By Product Type
15.3. Canada Market Analysis
15.3.1. Value Proportion Analysis by Market Taxonomy
15.3.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.3.2.1. By Product Type
15.4. Mexico Market Analysis
15.4.1. Value Proportion Analysis by Market Taxonomy
15.4.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.4.2.1. By Product Type
15.5. Brazil Market Analysis
15.5.1. Value Proportion Analysis by Market Taxonomy
15.5.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.5.2.1. By Product Type
15.6. Germany Market Analysis
15.6.1. Value Proportion Analysis by Market Taxonomy
15.6.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.6.2.1. By Product Type
15.7. France Market Analysis
15.7.1. Value Proportion Analysis by Market Taxonomy
15.7.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.7.2.1. By Product Type
15.8. Italy Market Analysis
15.8.1. Value Proportion Analysis by Market Taxonomy
15.8.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.8.2.1. By Product Type
15.9. BENELUX Market Analysis
15.9.1. Value Proportion Analysis by Market Taxonomy
15.9.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.9.2.1. By Product Type
15.10. United Kingdom Market Analysis
15.10.1. Value Proportion Analysis by Market Taxonomy
15.10.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.10.2.1. By Product Type
15.11. Nordic Countries Market Analysis
15.11.1. Value Proportion Analysis by Market Taxonomy
15.11.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.11.2.1. By Product Type
15.12. China Market Analysis
15.12.1. Value Proportion Analysis by Market Taxonomy
15.12.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.12.2.1. By Product Type
15.13. Japan Market Analysis
15.13.1. Value Proportion Analysis by Market Taxonomy
15.13.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.13.2.1. By Product Type
15.14. South Korea Market Analysis
15.14.1. Value Proportion Analysis by Market Taxonomy
15.14.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.14.2.1. By Product Type
15.15. GCC Countries Market Analysis
15.15.1. Value Proportion Analysis by Market Taxonomy
15.15.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.15.2.1. By Product Type
15.16. South Africa Market Analysis
15.16.1. Value Proportion Analysis by Market Taxonomy
15.16.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.16.2.1. By Product Type
15.17. Turkey Market Analysis
15.17.1. Value Proportion Analysis by Market Taxonomy
15.17.2. Value & Analysis and Forecast by Market Taxonomy, 2017-2032
15.17.2.1. By Product Type
15.17.3. Competition Landscape and Player Concentration in the Country
16. Market Structure Analysis
16.1. Market Analysis by Tier of Companies
16.2. Market Concentration
16.3. Market Share Analysis of Top Players
16.4. Market Presence Analysis
16.4.1. By Regional footprint of Players
16.4.2. Product footprint by Players
17. Competition Analysis
17.1. Competition Dashboard
17.2. Competition Benchmarking
17.3. Competition Deep Dive
17.3.1. MCKESSON MEDICAL-SURGICAL INC.
17.3.1.1. Overview
17.3.1.2. Product Portfolio
17.3.1.3. Sales Footprint
17.3.1.4. Strategy Overview
17.3.2. MEDLINE INDUSTRIES, INC.
17.3.2.1. Overview
17.3.2.2. Product Portfolio
17.3.2.3. Sales Footprint
17.3.2.4. Strategy Overview
17.3.3. B. BRAUN MELSUNGEN A.G.
17.3.3.1. Overview
17.3.3.2. Product Portfolio
17.3.3.3. Sales Footprint
17.3.3.4. Strategy Overview
17.3.4. TERUMO MEDICAL CORP.
17.3.4.1. Overview
17.3.4.2. Product Portfolio
17.3.4.3. Sales Footprint
17.3.4.4. Strategy Overview
17.3.5. OWENS AND MINOR
17.3.5.1. Overview
17.3.5.2. Product Portfolio
17.3.5.3. Sales Footprint
17.3.5.4. Strategy Overview
17.3.6. SMITH AND NEPHEW, INC.
17.3.6.1. Overview
17.3.6.2. Product Portfolio
17.3.6.3. Sales Footprint
17.3.6.4. Strategy Overview
17.3.7. CARDINAL HEALTH
17.3.7.1. Overview
17.3.7.2. Product Portfolio
17.3.7.3. Sales Footprint
17.3.7.4. Strategy Overview
17.3.8. 3M
17.3.8.1. Overview
17.3.8.2. Product Portfolio
17.3.8.3. Sales Footprint
17.3.8.4. Strategy Overview
17.3.9. BAXTER
17.3.9.1. Overview
17.3.9.2. Product Portfolio
17.3.9.3. Sales Footprint
17.3.9.4. Strategy Overview
17.3.10. FRESENIUS MEDICAL CARE AG & CO. KGAA
17.3.10.1. Overview
17.3.10.2. Product Portfolio
17.3.10.3. Sales Footprint
17.3.10.4. Strategy Overview
18. Assumptions and Acronyms Used
19. Research Methodology
Healthcare
November 2023
REP-EU-3520
315 pages
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Hospital Consumables Market
