The global hospital supplies market is set to experience steady growth, with its valuation expected to rise from USD 29.5 billion in 2022 to USD 42.6 billion by 2032. The market is forecast to grow at a compound annual growth rate (CAGR) of 3.7% over the 10-year period, driven by increased healthcare infrastructure development, rising patient admissions, and a growing emphasis on infection prevention and control.
Hospitals continue to be the primary consumers of hospital supplies, accounting for 47.2% of the total market share in 2021. The demand for hospital supplies, including medical disposables, diagnostic devices, mobility aids, and surgical equipment, is rising as healthcare providers strive to improve patient care quality and ensure the safety of medical personnel. The COVID-19 pandemic also highlighted the critical need for essential medical supplies, leading to an increased focus on stockpiling and supply chain resilience.
Key growth factors in the hospital supplies market include the rise in chronic disease prevalence, increased frequency of surgeries, and the need for infection control. Hospitals worldwide are modernizing and expanding their capacity, further driving demand for essential supplies. As healthcare systems adopt stricter hygiene protocols, the demand for single-use disposables, personal protective equipment (PPE), and sterilization supplies is expected to surge.
Key Takeaways:
- Market Growth: The hospital supplies market is projected to grow from USD 29.5 billion in 2022 to USD 42.6 billion by 2032, at a CAGR of 3.7%.
- Dominance of Hospitals: Hospitals accounted for 47.2% of the global market share in 2021, underscoring their critical role as key end-users of hospital supplies.
- Demand Drivers: Rising patient admissions, healthcare infrastructure expansion, and the growing need for infection prevention and control are driving demand for hospital supplies.
- COVID-19 Impact: The pandemic highlighted the importance of supply chain preparedness, leading to increased demand for PPE, sterilization supplies, and disposable medical products.
With healthcare systems under pressure to maintain safety, quality, and efficiency, the hospital supplies market is poised for steady growth. As hospitals continue to expand their infrastructure and prioritize patient safety, demand for essential supplies will remain high, presenting lucrative opportunities for manufacturers and suppliers in the healthcare industry.
Market Insights
- Growth Projections: The hospital supplies market is anticipated to experience steady growth driven by several factors, including increased public awareness of oral health care and government initiatives aimed at reimbursing dental treatments.
- Key Drivers:
- Public Awareness: Rising awareness about the importance of hygiene and infection control in healthcare settings is boosting the demand for various hospital supplies.
- Government Support: Efforts by governments to provide financial assistance for dental and medical treatments are likely to enhance market growth.
- Technological Advancements: Innovations in hospital supply technologies and practices are expected to further propel the market.
- Market Composition: The hospital supplies market includes a wide range of products such as surgical instruments, sterilization equipment, disposable supplies, and patient care items.
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Competitive Landscape
The hospital supplies market is highly fragmented. There are numerous players in the global market involved in developing cutting-edge solutions for the development of efficient products that can meet their customer’s needs.
Leading hospital supplies manufacturers are focusing on mergers, acquisitions, collaborations, and new product launches to increase sales and expand their global footprint. They are also focusing on improving their market presence by expanding their product line across countries to capitalize on untapped opportunities. For instance:
- In April 2022, GE Healthcare partnered with Unilabs to provide cutting-edge MRI, CT Scan, ultrasound, mammography, and X-ray machines in Portugal.
- In March 2022, Cardinal Health Inc. launched its first surgical incise drape combined with chlorhexidine gluconate (CHG) to reduce the risk of onsite surgical contamination by gram-negative bacteria. This incise is sturdy, and breathable and provides a sterile surface to avoid any further contamination.
- In December 2021, Medtronic plc launched the INVOS 7100 system. This will help clinicians to monitor organ-specific oxygen levels in patients to identify warning signs for children and even neonates.
- In December 2021, Thermo Fischer Scientific acquired PPD Inc.
Key Companies Profiled
GE Healthcare; Medtronic (Covidien); Thermo Fischer Scientific Inc.; Becton, Dickinson, and Company; Cardinal Heath; Boston Scientific Corporation; B. Braun Melsungen AG; 3M Science; Molnlycke Health Care AB; Advanced Sterilization Services; Terumo; Baxter; Kimberly-Clark Corporation; Steris Corporation; Stryker Corporation; Getinge AB; Johnson and Johnson
Key Market Segments Covered in Hospital Supplies Industry Research
By Product:
- Sterilization Consumables
- Wound Care Products
- Dialysis Products
- Infusion Products
- Hypodermic & Radiology Products
- Intubation & Respiratory Supplies
- Surgical Procedure Kits & Trays
- Blood Management & Diagnostic Supplies
- General Disposable Products
By End User:
- Hospitals
- Ambulatory Surgical Centres
- Clinics
- Diagnostic Centres
- Long Term Care Centres
- Nursing Facilities
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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