Exploring Key Insights of the Hospital Supplies Market: Growth Prospects, Emerging Trends, and Opportunities
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How has the hospital supplies market grown in recent years?
The market size for hospital supplies has experienced robust growth in past years. It is projected to elevate from $52.4 billion in 2024 to $56.15 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. Factors influencing this growth during the historic period include the development of healthcare infrastructure, an aging population, compliance with regulations, economic development, and advancements in medical device and supply technology.
How is the hospital supplies market size expected to evolve during the forecast period?
In the forthcoming years, the hospital supplies market is anticipated to experience robust expansion. It is set to rise to a market valuation of $71.94 billion in 2029, reflecting a compound annual growth rate (CAGR) of 6.4%. The surge during the anticipated period can be linked to being ready for pandemics, the utilization of telemedicine and remote monitoring, sustainability efforts, value-driven care, and the expansion of emerging markets. The period is set to witness significant trends such as the use of disposable medical devices, remote management of supply chains, 3D manufacturing of medical supplies, smart hospital supplies, and bespoke supplies.
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Which key drivers are propelling the hospital supplies market’s growth?
The surge in the number of hospitals is anticipated to drive the expansion of the hospital supplies market. Hospitals are establishments dedicated to offering medical and surgical care to individuals who are sick or injured. A broad range of medical supplies and equipment is essential for hospitals to provide top-notch care to their patients. For example, a report issued in May 2023 by the American Hospital Association (AHA), a US-based healthcare association representing hospitals and healthcare networks, indicated that there was an increase in the total number of hospitals from 6,093 in 2022 to 6,129. Additionally, the total admissions in all US hospitals came in at 34,011,386, which is an increase from 33,356,853 in 2022. Consequently, the rise in the number of hospitals is projected to fuel the growth of the hospital supplies market.
What are the market segments in the hospital supplies industry?
The hospital supplies market covered in this report is segmented –
1) By Type: Disposable Hospital Supplies, Sterilization Equipment And Disinfectants, Mobility Aids And Transportation Equipment, Operating Room Equipment
2) By End User: Hospitals And Clinics, Diagnostic Laboratories, Other End Users
3) By Type of Expenditure: Public, Private
4) By Product: Instruments Or Equipment, Disposables
Subsegments:
1) By Disposable Hospital Supplies: Surgical Masks, Gloves, Drapes And Gowns, IV Consumables, Wound Care Products
2) By Sterilization Equipment And Disinfectants: Sterilizers (Autoclaves), Disinfectants Andsanitizers, Sterilization Indicators, UV Sterilizers
3) By Mobility Aids And Transportation Equipment: Wheelchairs, Walkers, Crutches, Patient Lifts, Stretchers
4) By Operating Room Equipment: Surgical Tables, Operating Room Lights, Surgical Instruments, Anesthesia Machines, Patient Monitors
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Which leading companies are shaping the growth of the hospital supplies market?
Major companies operating in the hospital supplies market include Becton, Dickinson and Company, B. Braun Melsungen AG, Steris plc, Baxter International Inc., Stryker Corporation, Cardinal Health Inc., Hill-Rom Holdings Inc., Terumo Corporation, Medtronic plc, 3M Company, CVS Health Corporation, McKesson Corporation, Cencora Inc., GE HealthCare Technologies Inc., Koninklijke Philips NV, Boston Scientific Corporation, Danaher Corporation, Varian Medical Systems Inc., Dentsply Sirona Inc., Masimo Corporation, Olympus Corporation, ResMed Inc., Smith & Nephew plc, Align Technology Inc., The Cooper Companies Inc., Teleflex Incorporated, Waters Corporation, West Pharmaceutical Services Inc., Straumann Group, Fresenius Medical Care AG & Co KGaA.
What key trends are currently impacting the hospital supplies market’s development?
Significant businesses in the Hospital Supplies market are concentrating on creating innovative products like the AESCULAP Aicon Sterile Container System to boost their market profitability. Specifically tailored to streamline operations and cut down the likelihood of dampness, the AESCULAP Aicon Sterile Container System was launched by Aesculap Inc., a surgical instruments manufacturer based in the US, in March 2022. This Sterile Container System is designed to make procedures easier while reducing the risk of sets getting damp. It provides a 100% sterilization guarantee and helps to reduce the likelihood of surgical delays in the operating room due to sets not being ready.
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Which geographic areas are influencing the growth of the hospital supplies market?
Asia-Pacific was the largest region in the global hospital supplies market in 2023. North America was the second largest region in the global hospital supplies market. The regions covered in the hospital supplies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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