Rising awareness pertaining to hospital-acquired infections and growing incidences of communicable diseases and is propelling market growth.
Market Size – USD 35.21 Billion in 2019, Market Growth – CAGR of 12.3%, Market Trends – Growing product demand from developing nations.
The global Hospital Equipment and Supplies market size is estimated to reach USD 84.60 billion to 2027 from USD 35.21 billion in 2019, delivering a CAGR of 12.3%. The market growth is driven by a huge demand for disposable supplies from hospitals all across the globe to avoid HAIs (hospital-acquired infections) and limit their spread. The proliferation of innovative medical technologies, along with better diagnostic techniques, is also supporting the growth of the global hospital equipment and supplies industry.
The growing prevalence of infectious and chronic diseases in the world is offering lucrative revenue avenues for the market share. According to the World Health Organization, chronic disease incidence is expected to exceed 57% by the end of 2020. At the same time, the CDC estimates that hospital-acquired infections will account for nearly 1.7 million infections and approximately 99,000 deaths annually in the U.S. alone. In a bid to avoid transmission of diseases and contamination of hospital supplies, these organizations recommended the adoption of high barrier drapes, gowns, gloves, along with potent disinfectants in ambulatory operating rooms and hospitals.
The global spending on healthcare is rising steadily across the globe; It was USD 7.8 trillion in or nearly 10% of GDP in 2017. The growing incidence of diseases will further boost healthcare spending. Moreover, the recent outbreak of COVID-19 has led organizations to invest heavily in healthcare facility cleanliness and disinfection, which will further supplement hospital equipment and supplies market share over the forecast period.
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The report focuses on the comprehensive analysis of the competitive landscape along with detailed company profiles, market share, product portfolio, financial standings, market reach, global position, and strategic business expansion plans.
Some of the players profiled in the report are
Johnson & Johnson, Medtronic, Baxter International, Boston Scientific Corporation, Smith & Nephew, GE Healthcare, Stryker Corporation, Thermo Fisher Scientific, Covidien, and B Braun.
The report sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches among others. It also discusses in detail the technological advancements, product developments, and research and development activities of each key company.
Further the report segments the Hospital Equipment and Supplies market on the basis of product types, applications, end-uses, and regions. The report discusses in detail the key factors influencing revenue growth of the segments and market growth in key regions. It also discusses economic growth, technological advancement, and presence of key players in each major geographical region.
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Segmentation by Product Type:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Disposable Hospital Supplies
- Procedure Kits and Trays
- Mobility Aids and Transportation Equipment
- Operating Equipment
- Operating Room Lights
- Operating Room Tables
- Patient Examination Devices
- Sterilization and Disinfectant Equipment
- Chemical Sterilization
- Physical Sterilization
- Radiation Sterilization
- Syringes and Needles
- General Syringes
- Specialized Syringes
Expenditure Type Outlook (Revenue, USD Billion; 2017-2027)
- Public Hospitals
- Private-Profit Hospitals
- Private-Non Profit Hospitals
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Retail Medical Stores
- Online Retailers
Market Segmentation by Regions:
- North America (U.S.A., Canada)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Points Covered in the Report:
- Key insights into the latest growth trends, developments, technological and product advancements, and research and development scenario
- Analysis of micro- and macro-economic factors and regulatory framework
- In-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends
- SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the competitive landscape
- Strategic recommendations to established market players and new entrants to overcome limitations and entry-level barriers in the global market landscape
- Analysis of market drivers, restraints, challenges, limitations, threats, growth prospects and opportunities
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