Hospital Supplies Global Market Report 2022
Major companies in the hospital supplies market include Becton Dickinson, B. Braun Group, Steris, Baxter International Inc. , Stryker Corporation, Cardinal Health, Inc. , Hill-Rom, Inc, Terumo Corporation, Medtronic Inc.
New York, May 16, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hospital Supplies Global Market Report 2022" - https://www.reportlinker.com/p06277157/?utm_source=GNW
, and 3M Company.
The global hospital supplies market is expected to grow from $50.25 billion in 2021 to $55.02 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The market is expected to grow to $75.42 billion in 2026 at a compound annual growth rate (CAGR) of 8.2%.
The hospital supplies market consists of sales of hospital supplies and related services by entities (organizations, sole traders, and partnerships) that produce hospital supplies.
The main types of hospital supplies are disposable hospital supplies, sterilization equipment, disinfectants, mobility aids, transportation equipment, and operating room equipment.The disposable hospital supplies are the products that can be disposed of after single use and intended to be used temporarily or only once.
They are simple to operate and do not require maintenance and sterilization.The type of expenditure is public and private.
The products used are instruments/equipment and disposables. The end-users are hospitals and clinics, diagnostic laboratories, and others.
Asia Pacific was the largest region in the global hospital supplies market in 2021.North America was the second largest region in the global hospital supplies market.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The hospital supplies market is expected to benefit from the rise in precautionary measures being adopted to treat and control hospital-acquired infections (HAIs).HAIs, also known as nosocomial infections, are infections that patients contract during treatment for medical or surgical conditions.
HAIs can occur in various healthcare facilities, including hospitals, surgical centers, and long-term care facilities such as nursing homes and rehabilitation facilities.According to WHO data, Of every 100 hospitalized patients at any given time, 7 in developed and 10 in developing countries will acquire at least one healthcare-associated infection.
This is expected to boost the demand for hospital supplies and drive the market during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a restraint on the hospital supplies market in 2020 as supply chains were disrupted due to trade restrictions and healthcare organizations faced difficulties in acquiring new medical equipment.COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in manufacture and trade of medical equipment with countries entering a state of ’lock down’ and the outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021.
However, it is expected that the hospital supplies market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Injection manufacturers are increasingly investing in painless injections and needle-free technology as a replacement to conventional injections for faster delivery of drugs, hormone treatments, insulin, and vaccines.Painless injections include microneedle patches and laser-based devices to deliver drugs to a patient’s body.
Microneedle patches are skin patches equipped with tiny plastic needles that dissolve within a short period and deliver vaccines painlessly in the form of a pressured stream of liquid.These devices are utilized to avoid pain and manage chronic illnesses such as diabetes.
For instance, in 2019, Adamas Finance Asia announced plans to invest $5 million in needle-free injection technology.
The countries covered in the hospital supplies market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa., South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam.
Read the full report: https://www.reportlinker.com/p06277157/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
CONTACT: Clare: clare@reportlinker.com
US: (339)-368-6001
Intl: +1 339-368-6001