Overview and Scope
Hospital supplies mean items used for therapeutic or diagnostic purposes essential for patient care, such as dressings, catheters, or syringes.
Sizing and Forecast
The hospital supplies market size has grown strongly in recent years. It will grow from $59.7 billion in 2023 to $63.93 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to healthcare infrastructure development, aging population, regulatory compliance, economic growth, advances in medical device and supply technology.
The hospital supplies market size is expected to see strong growth in the next few years. It will grow to $82.29 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to pandemic preparedness, telemedicine and remote monitoring, sustainability initiatives, value-based care, emerging markets growth. Major trends in the forecast period include single-use medical devices, remote supply chain management, 3D printing of medical supplies, smart hospital supplies, customized and personalized supplies.
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Segmentation & Regional Insights
The hospital supplies market covered in this report is segmented –
1) By Type: Disposable Hospital Supplies, Sterilization Equipment And Disinfectants, Mobility Aids And Transportation Equipment, Operating Room Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments/Equipment, Disposables
Asia-Pacificwas the largest region in the global hospital supplies market in 2023. North Americawas the second largest region in the global hospital supplies market. The regions covered in the hospital supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The increased number of hospitals is expected to propel the growth of the hospital supplies market going forward. A hospital is a facility dedicated to providing medical or surgical treatment to individuals who are ill or have sustained injuries. Hospitals rely on an extensive array of medical supplies and equipment to deliver high-quality care to their patients. For instance, in May 2023, according to a report published by the American Hospital Association (AHA), a US-based healthcare trade organization representing hospitals and health care networks, the total number of hospitals increased to 6,129, compared to 6,093 in 2022. Moreover, total admissions in all U.S. hospitals reached 34,011,386 compared to 33,356,853 in 2022. Therefore, the increased number of hospitals is expected to propel the growth of the hospital supplies market.
Key Industry Players
Major companies operating in the hospital supplies market include Becton, Dickinson and Company, B. Braun Melsungen AG, Steris plc, Baxter International Inc., Stryker Corporation, Cardinal Health Inc., Hill-Rom Holdings Inc., Terumo Corporation, Medtronic plc, 3M Company, CVS Health Corporation, McKesson Corporation, Cencora Inc., GE HealthCare Technologies Inc., Koninklijke Philips NV, Boston Scientific Corporation, Danaher Corporation, Varian Medical Systems Inc., Dentsply Sirona Inc., Masimo Corporation, Olympus Corporation, ResMed Inc., Smith & Nephew plc, Align Technology Inc., The Cooper Companies Inc., Teleflex Incorporated, Waters Corporation, West Pharmaceutical Services Inc., Straumann Group, Fresenius Medical Care AG & Co KGaA.
The hospital supplies market report table of contents includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
………
- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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