The global hospital supplies market is anticipated to showcase a significant growth rate of over 10% during the forecast period. The hospital supplies such as operating room equipment, syringes & needles, catheters, and transportation equipment are highly used during the surgical procedures to avoid infections. An increasing number of surgical procedures due to the growing prevalence of chronic diseases has fuelled the growth of the hospital supplies market across the globe.
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According to the Centers for Disease Control and Prevention (CDC) in 2019, six in every 10 individuals are suffering from chronic diseases in the US which is a major factor for the recurrently increasing admission of patients in hospitals. This steady growth in the prevalence of disease acts as a driver for more and more surgical procedures for their treatment.
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According to the World Cancer Report published by the WHO in 2018 around 18.1 million new cases of cancer were registered and the prevalence of cancer is estimated to reach 15 million new cases per year by 2020. At the time of cancer treatment catheters are used to give intravenous fluids, blood transfusions, chemotherapy, and drugs. The high use of a catheter in cancer treatment is anticipated to drive the growth of the global hospital supplies industry.
According to the American College of Cardiology, in the US, around 1 in 5 people who are undergoing surgical aortic valve replacement are estimated to be at immediate risk. Therefore, the high-risk and immediate patients are considered to be on the top among all patients to require aortic valve replacement, which in turn, is encouraging the adoption of transcatheter aortic valve replacement (TAVR). To perform this procedure, the surgeon inserts a catheter in the chest for guiding it to the heart. The sensors can also be used to perform procedures with more precision. Hence, the increasing adoption of the TAVR procedure is expected to fuel the growth of the hospital supplies market.
According to the National Institute of Diabetes and Digestive and Kidney Disease (NIDDK), kidney stones are common and its prevalence is rising significantly. Nearly 11% of men and 6% of women in the US have kidney stones at least once in their lifetime. The rising prevalence of these urological disorders including kidney stones, bladder control problems, prostate problems, urinary tract infection (UTI) and urinary retention among others along with growing demand of patients for the minimally invasive surgical procedure for the treatment of diseases is motivating the demand of the nephrostomy catheters which is likely to drive the market growth.
Global Hospital Supplies Market- Segmentation
By Product Type
- Operating Room Equipment
- Sterilization & Disinfectant Equipment
- Syringes & Needles
- Mobility Aids & Transportation Equipment
- Disposable Hospital Supplies
- Patient Examination Devices
Global Hospital supplies Market– Segment by Region
North America
- United States
- Canada
Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
Company Profiles
- 3M Co.
- Abbott Laboratories Inc.
- Advanced Sterilization
- Braun Melsungen AG
- Baxter International Inc.
- Boston Scientific Corp.
- Cardinal Health, Inc.
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