The global demand for hospital supplies is expected to increase at 3.7% CAGR over the forecast period from 2022 to 2032. Sales in the hospital supplies market are estimated to reach a valuation of USD 29.5 Billion in 2022. According to the study, hospitals held a substantial share of 47.2% in 2021 in the global hospital supplies market.
| Data Points | Market Insights |
|---|---|
| Hospital Supplies Market Value 2021 | USD 28.6 Billion |
| Hospital Supplies Market Value 2022 | USD 29.5 Billion |
| Hospital Supplies Market Value 2032 | USD 42.3 Billion |
| Hospital Supplies Market CAGR 2022 to 2032 | 3.7% |
| Market Share of Top 5 Countries | 53.3% |
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According to Future Market Insights (FMI), the overall sales of hospital supplies grew at a CAGR of 3.3% between 2017 and 2021. However, the demand in the hospital supplies market is expected to increase at a CAGR of 3.5%, reaching USD 42.3 Billion by the end of 2032.
The global hospital supplies market held around 20% of the global medical supplies market which was valued at nearly USD 138 Billion in the year 2021.
Hospital settings and other healthcare units are at a greater risk of infections and viral exposure, resulting in a rising prevalence of hospital-acquired infections for over a decade. Several measures are being considered to prevent and reduce the prevalence rate such as the use of disposable procedure kits and trays, sterile and disposable products, sterile medical devices, disposable gloves, and other disposable medical supplies.
For instance, in March 2022, Becton, Dickinson & Company launched a TCR/BCR multi-omic assay which aids in speeding the discovery of infectious diseases, autoimmune disorders, and immune-oncology as well.
According to a survey conducted by CDC, in 2019, about 1 in 31 patients had at least one healthcare-associated infection. In addition, it is also noticed that the prevalence rate of hospital-acquired infections in low-income countries is far higher than in high-income countries.
For instance, a study published in the International Journal of Research and Public Health in 2020 states that a 7.5% prevalence of hospital-acquired infection was observed in high-income countries, although others have reported rates of 4.5% in the USA and 5.7%-7.1% in Europe, while in low- and middle-income countries, however, the prevalence rate ranged between 5.7% and 19.2%.
The hospital supplies market includes different product types such as wound care products, dialysis products, sterilization consumables, infusion products, and hypodermic and radiology products amongst others.
Based on product, hypodermic and radiology products like syringes, needles and consumable products for radiography and ultrasound were the dominant market segment in the global market in 2021, which contributed 17.6% of the revenue share.
The global hospital supplies market is expected to be valued at USD 42.3 Billion by the end of 2032, registering a CAGR of 3.7% over the forecast period.
Growing awareness regarding health & hygiene practices, particularly in hospitals will offer lucrative opportunities to market players. The rising disposable income and large patient pool due to a lack of awareness regarding hygiene in emerging economies will drive sales in the market.
Increasing expenditure on healthcare services is leading to the emergence of more and new hospitals worldwide, which in turn, is spurring demand for hospital supplies.
Other factors such as the growth in nosocomial infections have not only increased the mortality and morbidity rate but also the healthcare burden by stretching the length of hospitalization. Therefore, organizations such as the CDC and WHO are putting immense efforts into layout guidelines and conducting vigorous studies to control the occurrence of hospital-acquired infections.
However, despite these efforts, there is still a significant rise in the prevalence of these infections. Thus, increasing research and development efforts to develop hygienic solutions in the hospital supplies industry to minimize exposure to infection and other viral diseases expect to uncap lucrative opportunities in the hospital supplies market.
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Lack of awareness regarding hospital-acquired infection and hygiene in developing countries is contributing to the rapid rise of hospital-acquired infection in these countries. According to a study published in the Journal of Epidemiology and Community Health, more than 20% of all hospital-acquired infections are associated with intensive care unit visits.
Most emerging nations have about 2-3-fold higher hospital-acquired infection populations. Thus, the lack of awareness in developing countries regarding hospital-acquired infection and its diagnosis is projected to restrict the growth in the hospital-acquired infection testing market. This is expected to have a negative impact on sales of hospital supplies.
When most countries in the developed regions have strongly built health insurance coverage, these policies are less spread in developing countries. World Health Organization states that the world's partial population is not able to obtain essential health services.
According to a national survey, only one-fifth of the Indian population is insured under health insurance.
Most health insurance schemes do not cover disposables such as disposable gloves or masks utilized during surgical procedures. This adds to the overall cost imparted on the patient’s budget. Thus, the lack of proper health insurance that covers essential healthcare services and the cost of various hospital supplies in underdeveloped and developing countries may restrain the growth in the hospital supplies market.
Rising Demand for Wound Care Products in the USA to Fuel Growth
According to FMI, the USA is expected to dominate the North American hospital supplies market, with a total market share of 92.8% in 2021, and is projected to continue to exhibit high growth through 2022 & beyond.
According to CDC, approximately 5% of patients acquire hospital-associated infections in developed countries. Hence, rising in the number of patient admissions, high demand for treatment, and increased prevalence of hospital-acquired infection and adoption of medical hygiene practices will continue pushing sales in the USA.
Growth in the Medical Automation Market in Germany will Spur Demand for Hospital Supplies
Germany is set to exhibit growth at a CAGR of around 3.5% in the Europe hospital supplies market during the forecast period. Rising awareness of hospital-acquired infection and strong healthcare infrastructure, attractive reimbursement policies along with the best Research and Development performance in the industry will drive the growth of the hospital supplies market in Germany.
Expansion of the Portable Medical Devices Market in China Will Fuel Growth
Sales in the China market are projected to expand at a CAGR rate of 4.1% and hold about half of the East Asia hospital supplies market share and are expected to dominate throughout the forecast period, finds FMI.
Growing investments in research & development activities and technological advancements in the healthcare sector will drive sales in the market. China is expected to spearhead the growth in East Asia due to technological advancement, wide availability of consumable medical supply products, and the presence of numerous players in the healthcare sector.
Rising Demand for Sterile and Disposable Products Will Boost the India Market
Total demand in India accounted for 45.3% of the market share in 2021 and is projected to increase with a CAGR of 4.0% over the forecast period. Growing prevalence of antibacterial-resistant infections and hospital-acquired infections spurring demand for hospital supplies.
With rising expenditure on healthcare services, developing economies like India are focussing more on innovation and technology in the healthcare sector which is in turn fuelling the hospital supplies market within the country.
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Sales of Hypodermic and Radiology Products to Remain High
Based on product type, the hypodermic and radiology products segment accounted for 17.6% of the global market share in 2021. Sales in this segment are forecast to increase at a CAGR of 3.6% over the forecast period. Products like needles and syringes are routinely used in hospitals or diagnostic labs for drawing blood or injecting medicines.
On the other hand, radiology equipment like X-ray machines and C-Arms which are often employed in routine diagnosis by doctors, especially during surgical procedures require related disposable products to avoid spreading the infection to patients.
Demand for Hospital Supplies in the Hospital Segment Will Gain Momentum
By end-user, the hospital segment held a market share of 47.2% in 2021, with sales poised to grow at a CAGR of 3.9% over the upcoming decade. Hospitals have a large patient population and are exposed to numerous viral infections. Thus, to minimize the prevalence of healthcare-associated infection, hospitals are focusing on maintaining a hygienic environment which in turn is spurring demand for hospital supplies.
The hospital supplies market is highly fragmented. There are numerous players in the global market involved in developing cutting-edge solutions for the development of efficient products that can meet their customer’s needs.
Leading hospital supplies manufacturers are focusing on mergers, acquisitions, collaborations, and new product launches to increase sales and expand their global footprint. They are also focusing on improving their market presence by expanding their product line across countries to capitalize on untapped opportunities. For instance:
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Billion for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and Middle East & Africa |
| Key Countries Covered | The USA, Canada, Brazil, Mexico, Argentina, the UK, Germany, France, Italy, Spain, Russia, BENELUX, China, Japan, South Korea, India, Thailand, Indonesia, Malaysia, Australia, New Zealand, North Africa, GCC Countries, Turkey, and South Africa |
| Key Market Segments Covered | Product, End User, and Region |
| Key Companies Profiled | GE Healthcare; Medtronic (Covidien); Thermo Fischer Scientific Inc.; Becton, Dickinson, and Company; Cardinal Heath; Boston Scientific Corporation; B. Braun Melsungen AG; 3M Science; Molnlycke Health Care AB; Advanced Sterilization Services; Terumo; Baxter; Kimberly-Clark Corporation; Steris Corporation; Stryker Corporation; Getinge AB; Johnson and Johnson |
The global hospital supplies market is expected to be worth USD 29.5 Billion in 2022 and is set to expand by 1.4X over the next ten years.
The hospital supplies market is expected to reach USD 42.3 Billion by end of 2032, exhibiting growth at a CAGR of 3.7% between 2022 and 2032.
Key trends influencing sales in the hospital supplies market include increasing adoption of advanced hospital supplies, higher consumption of hospital supplies and strategic collaborations, mergers, and acquisitions among key players.
South Asia is expected to lead the global market, contributing over 23% of the revenue share in 2021.
The USA, Japan, China, Germany, and India are the top five countries, which are expected to drive demand in the hospital supplies market.
GE Healthcare, Medtronic (Covidien), Thermo Fischer Scientific Inc., Becton, Dickinson and Company, Cardinal Heath, Boston Scientific Corporation, B. Braun Melsungen AG, 3M Science, Molnlycke Health Care AB, Advanced Sterilization Services, Terumo, Baxter, Kimberly-Clark Corporation, Steris Corporation, Stryker Corporation, Getinge AB, Johnson and Johnson are the key manufacturers in this market.
1. Executive Summary | Hospital Supplies Market 2. Market Overview 3. Key Market Trends 4. Market Background 5. Key Success Factors 6. Global Market Demand (in Value or Size in USD Billion) Analysis 2017 to 2021 and Forecast, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product Type 7.1. Sterilization Consumables 7.2. Wound Care Product 7.3. Dialysis Product 7.4. Infusion Product 7.5. Hypodermic & Radiology Product 7.6. Intubation & Respiratory Supplies 7.7. Surgical Procedure Kits & Trays 7.8. Blood Management & Diagnostic Supplies 7.9. General Disposable Product 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End User 8.1. Hospitals 8.2. Ambulatory Surgical Centers 8.3. Clinics 8.4. Diagnostic Centers 8.5. Long-Term Care Centers 8.6. Nursing Facilities 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. South Asia 9.5. East Asia 9.6. Oceania 9.7. Middle East and Africa (MEA) 10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Middle East & Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 17. Market Structure Analysis 18. Competition Analysis 18.1. GE Healthcare 18.2. Medtronic (Covidien) 18.3. Thermo Fisher Scientific Inc. 18.4. Becton, Dickinson, and Company 18.5. Cardinal Health 18.6. Boston Scientific Corporation 18.7. B. Braun Melsungen AG 18.8. 3M Science 18.9. Molnlycke Health Care AB 18.10. Advanced Sterilization Services 18.11. Terumo 18.12. Baxter 18.13. Kimberly-Clark Corporation 18.14. Steris Corporation 18.15. Stryker Corporation 18.16. Getinge AB 18.17. Johnson & Johnson 19. Assumptions and Acronyms Used 20. Research Methodology
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Hospital Supplies Market
