Medical Disposables Industry Overview
The global medical disposables market size was valued at USD 318.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2021 to 2028. The growth of the market is attributable to the increasing number of surgical procedures, rising incidence of Hospital Acquired Infections (HAIs), growing prevalence of chronic diseases leading to longer hospital admission, and the impact of COVID-19 outbreaks across the globe.
The COVID-19 outbreak and increasing hospital admissions across the globe have significantly increased the demand for medical disposables. The WHO has appealed to industries and governments to increase the manufacturing of personal protective equipment, including hospital gowns, gloves, medical masks, face shields, aprons, respirators, and goggles, by 40.00% to meet the increasing global demand. It also reported that the increase in demand for these accessories has increased their prices to a major extent. For instance, the price of surgical masks has increased six-fold and the price of hospital gowns has increased two-fold. Furthermore, the WHO has shipped around half a million sets of personal protective equipment to around 47 countries. Therefore, the outbreak of COVID-19 has immensely impacted the market and is a highly effective driver for this market.
Gather more insights about the market drivers, restraints, and growth of the Global Medical Disposables market
The outbreak of COVID-19 is anticipated to significantly impact the market for medical disposables. The pandemic caused by the virus SARS-CoV-2 has drastically increased the demand for medicines, medical disposable products, emergency supplies, and hospital equipment including gowns, antiseptics, and disinfectant products. COVID-19 is a zoonotic virus and bats were considered to be the key reservoir of the virus. In December 2019, the first patient was reported in China and since then, the disease has spread at a rapid pace. The first case was reported in Wuhan and has been identified that the infection was acquired from a zoonotic source. Post that incident human-to-human transmission of the virus largely took place in families within Wuhan.
The increasing prevalence of chronic diseases such as diabetes and cardiovascular diseases is anticipated to positively impact the market for medical disposables. For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase from 366.0 million in 2011 to 552.0 million by 2030. Prolonged diabetes leads to diabetic foot ulcers, which in turn increases the duration of hospital stay, rendering a positive impact on the market growth over the forecast period. Furthermore, the increasing geriatric population across the globe is also anticipated to propel the growth of the market for medical disposables. For instance, as per the World Health Organization (WHO), the global geriatric population is anticipated to rise from 84.0 million in 2014 to 2.0 billion by 2050. Since the geriatric population is prone to several diseases, thus this growing geriatric population is also expected to surge in the market growth over the forecast period.
Browse through Grand View Research's Medical Devices Industry Research Reports
Disposable Syringes Market - The global disposable syringes market size was valued at USD 13.45 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.12% from 2022 to 2030.
Disposable Gloves Market - The global disposable gloves market size was valued at USD 12.31 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030.
Market Share Insights:
April 2019: Smith & Nephew PLC acquired Osiris Therapeutics, Inc. with an aim to accelerate the development of its advanced wound management product portfolio.
May 2019: 3M announced to acquire Acelity Inc. with an aim to strengthen wound management solutions. This may expand the customer base of the company.
Key Companies profiled:
Some prominent players in the global Medical Disposables market include
- Medline Industries, Inc.
- Smith & Nephew PLC
- Bayer AG
- BD
- 3M
- Cardinal Health
Order a free sample PDF of the Medical Disposables Market Intelligence Study, published by Grand View Research.
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