Medical Supplies Market Report
Global Medical Supplies Market, By Type (Orthopedic Devices, IVD, Diabetes Care, Wound Management, Nephrology, Cardiovascular Devices, Dental, Diagnostic Imaging, MIS, Ophthalmic Devices, and Others), By End-User (Hospital, Clinics, Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)Trend Analysis, Competitive Market Share & Forecast, 2017-2027
- Published Date: June 2021
- Report ID: BWC20374
- Available Format: PDF
- Page: 151
A 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.
Global Medical Supplies Market- Industry Trends & Forecast Report 2027
The 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
A 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
The 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 forecast period.
Technological Advancement in Medical and Healthcare Sector
The 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
The 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 global network.
Impact of Covid-19 on Global Medical Supplies Market
The 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.
Medical 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
Based 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 devices.
Global Medical Supplies Market - By End-User
Based 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
Geographically, 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 expansion.
The 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.
The 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.
l 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.
l 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.
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.1.1. Primary and Secondary Sources
2.2. Quantitative Research
2.2.1. Primary and Secondary Sources
2.3. Breakdown of Primary Research Respondents
2.3.1. Secondary Research
2.3.2. Primary Research
2.4. Breakdown of Primary Research Respondents, By Industry Participants
2.5. Key Questionnaire asked during Primary Interviews
2.6. Key Primary Responses
2.7. Market Size Estimation
2.8. Assumption for the Study
2.9. Market Breakdown & Data Triangulation
3. Executive Summary
4. Global Medical Supplies Market – Industry Insights
4.1. DROC Analysis
4.1.1. Growth Drivers
4.2. Recent Developments / Technical Landscape
4.3. Regulatory Framework
4.4. Porter’s Five Forces Analysis
4.5. Value Chain Analysis
4.6. Strategic Outlook
5. Global Medical Supplies Market Overview
5.1. Market Estimates & Forecast by Value, 2017-2027
5.1.1. By Value (USD Million)
5.2. Market Share & Forecast
18.104.22.168. Orthopedic Devices
22.214.171.124. Diabetes Care
126.96.36.199. Wound Management
188.8.131.52. Cardiovascular Devices
184.108.40.206. Diagnostic Imaging
220.127.116.11. Ophthalmic Devices
5.2.2. By End-User
5.2.3. By Region
18.104.22.168. North America
22.214.171.124. Asia-Pacific (APAC)
126.96.36.199. Latin America (LATAM)
188.8.131.52. Middle-East & Africa (MEA)
6. North America Medical Supplies Market Overview
6.1. Market Size and Forecast
6.1.1. By Value (USD Million), 2017-2027
6.2. Market Share and Forecast
6.2.1. By Dressing Type
6.2.2. By Wound Type
6.2.3. By End User
6.2.4. By Country
7. Europe Medical Supplies Market Overview
7.1. Market Size and Forecast
7.1.1. By Value (USD Million), 2017-2027
7.2. Market Share and Forecast
7.2.1. By Type
7.2.2. By End User
7.2.3. By Country
184.108.40.206. Rest of Europe
8. APAC Medical Supplies Market Overview
8.1. Market Size and Forecast
8.1.1. By Value (USD Million), 2017-2027
8.2. Market Share and Forecast
8.2.1. By Type
8.2.2. By End-User
8.2.3. By Country
220.127.116.11. South Korea
18.104.22.168. Rest of APAC
9. LATAM Medical Supplies Market Overview
9.1. Market Size and Forecast
9.1.1. By Value (USD Million), 2017-2027
9.2. Market Share and Forecast
9.2.1. By Type
9.2.2. By End User
9.2.3. By Country
22.214.171.124. Rest of LATAM
10.MEA Medical Supplies Market Overview
10.1. Market Size and Forecast
10.1.1. By Value (USD Million), 2017-2027
10.2. Market Share and Forecast
10.2.1. By Type
10.2.2. By End User
10.2.3. By Country
10.2.3.1. Saudi Arabia
10.2.3.3. South Africa
10.2.3.4. Rest of Europe
11.1.1. List of Key Producers and Their Offerings
11.1.2. Market Share / Ranking Analysis (2020)
11.1.3. Competitive Benchmarking, By Operating Parameters
12.1. Future Impact
12.2. Key Developments during COVID-19
12.3. Impact on Market
12.3.1. Different Scenario
12.3.2. Impact on Companies
12.4. Regional Impact
13.Key Strategic Recommendations
14.Company Profiles (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
14.1. Coloplast Group
14.2. 3M Company
14.3. Smith & Nephew
14.4. Convatec Group PLC
14.5. Merit Medical Systems
14.6. Terumo Corporation
14.7. Teleflex Incorporated
14.9. Johnson & Johnson
14.10. Thermo Fisher Scientific Inc.
14.11. Avanos Medical, Inc.
14.12. Cook Medical
14.13. Cardinal Health, Inc.
14.14. DePuy Synthes
14.15. Siemens Healthineers
14.16. GE Healthcare
14.17. Ethicon LLC
14.18. Phillips Healthcare
14.19. Fresenius Medical Care
14.20. Other prominent players
- Orthopedic Devices
- Diabetes Care
- Wound Management
- Cardiovascular Devices
- Diagnostic Imaging
- Ophthalmic Devices
- North America
- Asia-Pacific (APAC)
- Latin America (LATAM)
- Middle-East & Africa (MEA)
To request a free sample copy of this report, please complete the form below.
We value your investment and offer free customization with every report to fulfil your exact research needs.
WHY CHOOSE US
24/7 Research support
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Coustom Research Service
Ask the Analyst to customize an exclusive study to serve your research needs
Quality & Accuracy
Ask the Analyst to customize an exclusive study to serve your research needs
As the business world is changing dynamically every day. We need to stay pin point in relation to data management and optimum data utilization
We never share your personal and confidential information. Your personal information is safe and secure with us.