Medical Supplies Market Set to Soar Past USD 181.85 Billion by 2030 | Skyquest Technology

Westford, USA, Jan. 17, 2024 (GLOBE NEWSWIRE) — The global Medical Supplies market size is expected to reach USD 181.85 billion by 2030 and exhibit a CAGR of 3.8% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increasing global population, which leads to higher healthcare demand, the prevalence of chronic diseases requiring ongoing medical care and supplies, advancements in medical technology and procedures, which drive the need for specialized supplies, rising healthcare expenditure, and government initiatives to improve healthcare infrastructure and access, and the ongoing response to public health emergencies and pandemics, which underscores the importance of medical supplies in healthcare systems is fueling the market’s growth.

According to SkyQuest’s latest global research of the Medical Supplies market, increasing adoption of telehealth and remote monitoring technologies, which drive the demand for home-based medical supplies, the emphasis on infection prevention and control, leading to innovations in disposable and single-use medical supplies, the rise of personalized medicine and customized medical devices, fostering the development of patient-specific supplies, the incorporation of IoT (Internet of Things) and smart technologies in medical supplies for enhanced monitoring and data collection, and the growing focus on sustainability and eco-friendly materials in the production of medical supplies to reduce environmental impact are the trends that aid in the market’s growth.

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Browse in-depth TOC on “Medical Supplies Market”

  • Pages – 157
  • Tables – 68
  • Figures -75

Medical supplies are the products and equipment that healthcare professionals use to diagnose and treat patients. They include a wide range of items, such as surgical instruments, medical devices, diagnostic tests, medical implants, pharmaceuticals, wound care products, and personal protective equipment (PPE). Medical supplies are essential for providing safe and effective healthcare.

Prominent Players in Medical Supplies Market

  • Brainlab
  • Medtronic
  • Stryker
  • Zeiss
  • Johnson & Johnson
  • Siemens Healthineers
  • GE Healthcare
  • Philips Healthcare
  • NuVasive
  • Alphatec Spine
  • Globus Medical
  • K2M
  • Zimmer Biomet
  • Smith & Nephew
  • Medtronic Sofamor Danek
  • SpineGuard
  • Medtronic Navigation
  • Stryker Spine
  • Brainlab Spine
  • Medtronic Brainlab
  • NICO Corporation
  • NavSight Medical

Report Scope & Segmentation:

Attributes

 

Details

 

Forecast Period

 

2023-2030
Market Size in 2022

 

 134.94 Billion
2030 Value Projection

 

181.85 Billion
CAGR 3.8%
Segments Covered

 

Hospitals, Clinics, and Others

  • Application

Radiology, Wound Care, Cardiology, Urology, Respiratory, Infection Control, IVD, and Others

 

Regions Covered

 

North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)

Personal Protective Equipment (PPE) Demand to Grow Substantially in the Forecast Period

Personal protective equipment (PPE) dominate the global online market as infection control measures are essential in healthcare settings to prevent the spread of diseases. PPE is a fundamental component of infection control practices in hospitals, clinics, and other healthcare facilities. This continuous need ensures a stable demand for PPE. Stringent regulations and guidelines mandate the use of PPE in healthcare settings. Compliance with these regulations is crucial for healthcare facilities to maintain patient and staff safety and meet accreditation requirements.

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Surgery is the Leading Application Segment

In terms of application, surgery are the leading segment as surgical procedures are a fundamental component of healthcare, covering a wide range of medical specialties, from general surgery to specialized fields like orthopedics, cardiology, and neurosurgery. The sheer volume of surgical procedures conducted globally generates substantial demand for surgical supplies, including instruments, disposable items, and infection control products.

North America is the leading Market Due to the Technological Advancements

North America, particularly the United States, has one of the highest levels of healthcare expenditure globally. This substantial investment in healthcare infrastructure and services supports the demand for medical supplies. Stringent regulatory standards and guidelines in North America ensure the safety and quality of medical supplies. Compliance with these regulations is essential for market entry, which fosters trust in the products.

A recent report thoroughly analyzes the major players operating within the Medical Supplies market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavours to develop innovative solutions that cater to the ever-increasing demand for Medical Supplies.

Key Developments in Medical Supplies Market

  • In February 2023, Nova Metrix LLC acquired Vallen Systeme, a German manufacturer of monitoring systems. This acquisition added Vallen Systeme’s expertise in acoustic emission and Medical Supplies technologies to Nova Metrix’s product offerings.
  • In March 2023, Hottinger Baldwin Messtechnik GmbH acquired Digitexx Data Systems, Inc., a leading provider of data acquisition and processing systems for SHM applications. This acquisition strengthened Hottinger Baldwin Messtechnik GmbH’s position in the SHM market and expanded its portfolio of data acquisition and processing solutions.

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Key Questions Answered in Medical Supplies Market Report

  • What specific growth drivers will impact the market during the forecast period?
  • Can you list the top companies in the market and explain how they have achieved their positions of influence?
  • In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?

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