Global Medical Supplies Market- Industry Trends & Forecast
global medical supplies market was worth USD 118.3 billion in the year 2020 and
is further projected to reach USD 154.0 billion by 2027, growing at the CAGR of
3.8% in the forecast period (2021-2027). Factors driving the market
include the rising prevalence of chronic diseases among all
demographics worldwide increased government and private investment in
healthcare development, and measures to control the spread of
healthcare-associated infections (HAIs). The same factors are driving demand
for medical supplies. As a result, the market is likely to expand further
during the forecast period.
Source: BlueWeave Consulting
Global Medical Supplies Market- Overview
medical device is a device or an instrument that is used for the diagnosis,
treatment, and monitoring of medical conditions. Therefore, the medical device
market involves the production and sales of medical equipment or devices as
well as all the services related to it. Some common examples of medical devices
are MRI machines, x-ray machines, CT scanners, home healthcare supplies,
surgical supplies, life-saving equipment, etc. These devices are divided into
three categories based on the risks they pose to the human body: Class I
(no-risk), Class II (low and moderate risks), and Class III and IV (high and
extremely high hazards). If the risk connected with the product or device is
higher, it will require permission or supervision by a government authority, by
a government entity, such as the US Food and Drug Administration in the case of
the United States (FDA).
Global Medical Supplies Market Forecast and Trends
Rising Prevalence of Chronic Diseases
rising prevalence of chronic diseases is the major factor contributing to the
growth of the medical supplies market. Previously, chronic diseases were only
found in the geriatric population. However, diabetes, heart and lung disease,
cancer, and other diseases can now be detected in people of any age. The
utilization of medical supplies in the treatment of such medical conditions is
fueling the market growth. According to experts, unhealthy lifestyle and eating
habits, as well as prolonged working hours, are contributing to the incidence
of several chronic diseases, which are expected to rise further in the
Technological Advancement in Medical and Healthcare Sector
adoption and use of advanced technology have witnessed significant growth over
the past few years. Due to the increasing application of medical technology
that allows professionals to diagnose and treat their patients remotely,
the market has expanded significantly. Since the non-emergency patients were
advised not to visit hospitals or clinics for the prevention of the spread of
the virus, the demand for medical supplies like oxygen masks, blood pressure
monitors, disposable masks, etc. for home care has risen significantly during
the lockdown period. The same factors are expected to drive the market forward
during the forecast period too.
Higher Risk on the privacy of the Patient’s Personal Data
use of remote patient monitoring devices to track patients' vitals has
increased in recent years due to their convenience. However, such devices
enhance the possibility of a breach of the patient's confidential data and
raise security concerns. Every year, hackers attempt to steal medical
information from hospitals and health care facilities, and many of those
records are later sold on the dark web for thousands of dollars. Therefore,
since these devices transmit data to physicians through the internet, they are
vulnerable to hacking attacks and data theft as they are connected to the
Impact of Covid-19 on Global Medical Supplies Market
Covid-19 has had a favorable impact on the market, resulting in increased
demand for medical supplies. Soon after the COVID-19 epidemic, healthcare
facilities and professionals began prioritizing Covid-19 treatment without any
delay, which necessitated the use of medical equipment such as disposable
masks, eye-gear, respiratory supplies, hand sanitizers, and disposable gloves.
As a result of this predicament, the medical supply sector began to boom
during this period.
supplies for wound care, diagnostic and laboratory testing, and other
non-emergency medical cases, on the other hand, had to witness an unexpected
drop in demand since all non-emergency medical cases were postponed
to adhere to the social distancing norms. Given the circumstances, it is
reasonable to assume that Covid-19 had a negligible impact on the global
medical supply sector.
Global Medical Supplies Market - By Type
on types, the global supplies market is segmented into orthopedic devices, IVD,
diabetes care, wound management, nephrology, cardiovascular devices, dental,
diagnostic imaging, MIS, ophthalmic devices, and others. The demand for medical
supplies is very significant in almost all the segments but especially in the
cardiovascular, diabetes, and dental cases as the prevalence of such diseases
is rising across the globe due to unhealthy lifestyle behavior. Furthermore,
companies are developing an increasing number of effective product lines
that have regulated pricing, thereby boosting the market need for medical
Global Medical Supplies Market - By End-User
on end-users, the global supplies market is categorized into hospitals,
clinics, and others. Among these segments, the hospitals’ segment dominated the
market with the highest market share in the year 2020. The growth of this
segment can be attributed to several factors such as the expanding number of
patients seeking surgical procedures and other treatments at hospitals, the
increasing frequency of chronic disease, and the rising geriatric
population. Furthermore, developing healthcare infrastructure through
government initiatives of several countries is contributing to the growth of
this segment in the global medical supplies market.
Global Medical Supplies Market - Regional Insights
the global medical supplies market is segmented into North America, Europe,
Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA). In
the year 2020, North America had the biggest market share for medical supply
production and demand. The number of surgeries conducted in this region is
gradually increasing, driving up demand for medical supplies. Furthermore, the
rising geriatric population, as well as the increasing incidences of Covid-19
is driving up demand for these supplies and equipment, resulting in market
leading market players in the global medical supplies market are Coloplast
Group, 3M Company, Smith & Nephew, Convatec Group PLC, Merit Medical
Systems, Terumo Corporation, Teleflex Incorporated, Stryker, Johnson &
Johnson, Thermo Fisher Scientific Inc., Avanos Medical, Inc., Cook Medical,
Cardinal Health, Inc., DePuy Synthes, and other prominent players.
market is highly consolidated with the presence of giant companies like
Phillips Healthcare, Smith & Nephew, etc. The market players are adopting competitive
strategies like partnerships, mergers, acquisitions, etc. to expand their
product portfolio which is aimed towards covering a larger share in the market.
In March 2021, Coloplast Group, a
Denmark-based medical device, and services company joined hands with Vizient, a
US-based healthcare company. Coloplast will be able to sell its products and
services in the United States as a result of this partnership. It will also aid
in the expansion of the Coloplast market in North America, as well as its
presence in hospitals and other healthcare facilities.
In February 2020, Baxter, a US-based
healthcare business, announced that it has gained FDA approval for the
production of Peri-Strips Dry with Veritas Collagen Matrix (PSDV). Peel and
secure technology are available with these strips. PSDV's effectiveness has
been doubled since its previous edition, thanks to this upgrade.
Scope of the Report
Historical data – 2017-2020
Base Year – 2020
Forecast – 2021 – 2027
Revenue in USD Million
North America, Europe, the Asia-Pacific, Latin America, and the
Middle East and Africa
By Type, By End-user, By Region
Coloplast Group, 3M Company, Smith & Nephew, Convatec Group
PLC, Merit Medical Systems, Terumo Corporation, Teleflex Incorporated,
Stryker, Johnson & Johnson, Thermo Fisher Scientific Inc., Avanos
Medical, Inc., Cook Medical, Cardinal Health, Inc., DePuy Synthes, Siemens
Healthineers, GE Healthcare, Ethicon LLC, Phillips Healthcare, Fresenius
Medical Care, and other prominent players
Ø Orthopedic Devices
Ø Diabetes Care
Ø Wound Management
Ø Cardiovascular Devices
Ø Diagnostic Imaging
Ø Ophthalmic Devices
Ø North America
Ø Asia-Pacific (APAC)
Ø Latin America (LATAM)
Ø Middle-East & Africa (MEA)
1. What is the current size of the global medical supplies market?
Answer: The global medical supplies market
reached USD 118.3 billion in 2020.
2. What are the major factors driving the growth of the global
medical supplies market?
Answer: The major factor driving the growth
of the global medical supplies market are the rising prevalence of chronic
diseases and technological advancements in the medical and healthcare sector.
3. Who are the key players in the global medical supplies market?
Answer: The key players in the global medical
supplies market are: Coloplast Group, 3M Company, Smith & Nephew, Convatec
Group PLC, Merit Medical Systems, Terumo Corporation, Teleflex Incorporated,
Stryker, Johnson & Johnson, Thermo Fisher Scientific Inc., Avanos Medical,
Inc., Cook Medical, Cardinal Health, Inc., DePuy Synthes, Siemens Healthineers,
GE Healthcare, Ethicon LLC, Phillips Healthcare, Fresenius Medical Care, and
other prominent players.
4. Which end-user segment accounted for the largest share in the
global medical supplies market?
Answer: The hospital segment accounted for
the largest share in the global medical supplies market.
5. Which region is at the highest growth rate
in the global medical supplies market?
Answer: North America has the largest share in the global medical supplies market.