Upsurge in Number of Patients and Increasing Number of Medical Facilities to Thrive Market

The Healthcare sector has significantly grown over the last few decades. The disease prevalence across the globe is increasing at an unprecedented level. Thus, the rise in the number of patients across the globe is increasing swiftly. There is a huge supply and demand gap for Medical Supplies which provides a special opportunity for key players. To grasp this opportunity, major players are increasing their production. Also, the key players are expanding their business to achieve maximum benefits of the opportunity. Moreover, the increasing chronic diseases such as diabetes, and cancer among others, are increasing the demand for Medical Supplies as well as medical facilities. Thus, several governments and key players are investing their money heavily for the development of healthcare projects and infrastructure development. Consequently, these factors are likely to increase the demand for Medical Supplies, further propelling the growth of Medical Supplies Market.

Moreover, COVID-19, a pandemic; has led us to serious implications for all the sectors. It has reduced the growth to a significant level. However, the healthcare sector, research & development activities (R&D) can be seen to get on track with new inflow of investments. Owing to COVID-19, the awareness regarding health has increased at its wildest level. This have increased the demand for Medical Supplies such as patient examination devices, operating room equipment, mobility aids and transportation equipment, sterilization and disinfectant equipment, disposable hospital supplies, syringes and needles, among others. Thus, further anticipated to strengthen the Medical Supplies market growth over the forecast period driving from 2022-2028.

What will be the Market by 2028?

Our report on Medical Supplies Market has covered the study of the latest development and investment in the Market. Also, the report covers the value chain analysis, regulatory analysis, Market attractiveness analysis, and Porter’s five forces analysis, for Medical Supplies Market. Additionally, our report includes Market drivers, restraints, and opportunities along with COVID-19 impact analysis, historical & descriptive analysis, forecasts & predictive analysis. The global Medical Supplies Market valued at USD 138.96 Billion in 2021 and expected to reach USD 192.95 Billion in 2028 at CAGR of 4.8%.

Some of key players in Medical Supplies Market includes - Cardinal Health, Inc. (US), Medtronic (Ireland), B. Braun Melsungen AG (Germany), Johnson & Johnson (US), Thermo Fisher Scientific, Inc. (US), Boston Scientific Corporation (US), Avanos Medical, Inc. (US), International, Inc. (US), 3M (US), ConvaTec Group Plc. (UK), Smith & Nephew (Ireland), Cook Medical (US), Abbott (US), Merit Medical Systems (US), Terumo Corporation (Japan), Stryker (US), Fresenius Medical Care AG & Co. KGaA (Germany), Teleflex Incorporated (US), and Coloplast Group (Denmark).

Asia Pacific is estimated to hold the largest share of the Medical Supplies Market. The market growth is attributed to factors such well-developed and established healthcare industry. Also, the presence of major key players in the region is further fuelling the market growth in the region.

Asia Pacific is anticipated to grow at the fastest CAGR over the forecast period. The market growth in the region is attributed to the factors such as the presence of emerging economies, and the present large base of population among others.