The global medical disposables
market is expected to reach USD 329.9 billion by 2024, according to the study
performed by Grand View Research, Inc. Key factors driving the market expansion
include the growing awareness regarding benefits of infection control, which
majorly include enhanced quality of life and minimized related healthcare
expenditure.
In addition, propelling factors
of this sector comprise constantly rising hospital visits, surgeries, and the
growing need for healthcare assistance owing to the escalating geriatric
population prone to developing chronic diseases and injuries. Furthermore, the
emergence of this sector is attributed to the increased focus toward the use of
single-use disposable products to prevent cross-contamination and infection in
healthcare settings.
These products offer a range of
advantages to the healthcare institutions such as reducing sterilization and
disinfection costs. Thus, most of the healthcare professionals and individual
patients are turning toward disposable medical supplies to meet the infection
control requirements.
Drug delivery products captured
the largest revenue share in 2015. The segment is also expected to foresee the
fastest growth rate due to the increasing use of prefilled syringes, needles,
and transdermal patches by various hospitals and clinics.
The plastic resin segment
accounted for the largest share in 2015 due to their wide availability and
application in the healthcare sector. However, nonwoven material is forecasted
to grow at the fastest CAGR owing to factors such as their low weight,
affordable cost, and easy recycling methods. Nonwoven fabric is the material of
choice for a number of applications such as wound care management, incontinence
management, and surgeries due to the highly absorbent and liquid repellent
nature of this material, among other properties.
In depth research report on Medical Disposables Market
Further Key Findings from the Study Suggest:
·
In 2015, the drug delivery
product segment captured the largest revenue share. The increasing application
of various drug delivery products for sustained-release drug therapies is
mainly contributing to the largest share of the segment globally.
·
In addition, rising demand for
minimally invasive surgeries is spurring the demand for needles and drug
delivery devices, which is resulting in the high revenue generation of the
segment
·
With the introduction of
advanced technology and growing demand for accurate diagnostic methods, the
diagnostic and laboratory disposables segment is expected to show the second
fastest growth during the forecast period
·
North America region dominated
the overall market by capturing over 35.0% share in 2015. This region is
anticipated to remain dominant throughout the forecast period.
·
Some of the factors having a
significant impact on the regional market growth are government initiatives,
high per capita income, large patient pool, and the presence of a large number
of major players in the region
·
Growing economies and
government-led initiatives are expected to drive the growth of the medical
disposables sector in the Asia Pacific region. The segment is expected to
witness a lucrative CAGR of over 7% during the forecast period.
·
Some of the major players in
the consolidated market are 3M, Johnson & Johnson Services, Inc., Abbott,
Becton, Dickinson & Company, Medtronic, B. Braun Melsungen AG, Bayer AG,
Smith and Nephew, Medline Industries, Inc., and Cardinal Health
Grand View Research has
segmented the medical disposables market by product, raw material, end use, and
region:
Type Outlook (Market revenue in USD Million, 2014 - 2024)
·
Wound Management Products
·
Drug Delivery Products
·
Diagnostic and Laboratory
Disposables
·
Dialysis Disposables
·
Incontinence Products
·
Respiratory SuppliesSterilization
Supplies
·
Nonwoven Disposables
·
Others
Raw Material Outlook (Market revenue in USD Million, 2014
- 2024)
·
Plastic Resins
·
Nonwoven Material
·
Rubber
·
Paper and Paperboard
·
Metals
·
Glass
·
Others
End Use Outlook (Market revenue in USD Million, 2014 -
2024)
·
Hospitals
·
Home Healthcare
·
Outpatient/Primary care
Facilities
·
Others
Regional Outlook (Market Revenue in USD Million, 2014 -
2024)
·
North America
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
Japan
·
China
·
Latin America
·
Brazil
·
Mexico
·
Middle East and Africa (MEA)
·
South Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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