Medical disposables products are used in hospitals or in various medical fields for the prevention of infections and for safety measures to meet the medical standards and have large products in the healthcare industry. This is mainly due to the increasing prevalence of hospital-acquired infections (HAIs), a growing number of chronic patients rising number of surgical procedures, and the adverse impact of COVID-19 are major factors responsible for medical disposables market growth. Market growth will also be navigated by an increase in R&D and the development of more covid-19 related medical products such as surgical masks, syringes, and non-woven medical disposables. According to the World Health Organization (WHO), the total amount of waste generated by health-care activities, about 85% is general, non-hazardous waste. The remaining 15% is considered hazardous material that may be infectious, toxic, or radioactive. The most detrimental errors are related to pharmaceutical waste, chemical waste, and sharps waste. Therefore, the increase in cases of several other chronic diseases such as an increasing geriatric population suffering from lifestyle-associated diseases and hygiene in the environment will activate the market revenue.
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According to UnivDatos Market Insights (UMI)’ research report “Global Medical disposables Market Analysis, 2021”, the medical disposables market is projected to grow at a significant CAGR of around 7% during 2021-27F. The demand for medical disposables is increasing on account of the growing geriatric population. 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.
Based on the product, the medical disposables market is segmented into wound management supplies, drug delivery disposables, non-woven medical disposables, and other disposables. The wound management supplies accounted for a significant market share in 2020 and it is estimated that they will exhibit the highest CAGR during the forecast period. The growth of this segment growing due to acute, chronic, and surgical wounds has increased significantly over the past decade, primarily due to the increasing global geriatric population with chronic diseases that will drive the market growth.
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Based on raw materials, the medical disposables market is segmented into plastic resins, nonwoven materials, rubber, paper and paperboard, metals, glass, and others. The plastic resins segment accounted for a significant market share in 2020 and it is estimated that it will exhibit the highest CAGR during the forecast period. The growth of this segment growing due to the widely used for manufacturing medical devices like containers, disposable syringes, and other medical items.
Based on end-users, the market is segmented into hospitals & clinics, ambulatory surgical centers, home care settings, and others. The hospitals & clinics segment had the highest revenue and CAGR growth in the analyzed period owing to the presence of several disposables products in hospitals, such as, such as surgical instruments, gloves, face masks, blood bags, needles, and others. The quality of patient care is also one of the reasons why patients prefer hospitals for their treatment.
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North America is expected to witness the highest growth
Based on the region, North America dominated the global medical disposables market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the well-established market players and frequent medical product launches. North America is expected to skyrocket with a CAGR of X% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Medical disposables Market Analysis, 2021”.
According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the medical disposables market include Medline Industries Inc., Smith & Nephew PLC, Bayer AG, BD, 3M, Cardinal Health, Abbott Laboratories, Johnson & Johnson, Medtronic Incorporated, Boston Scientific Corporation, among others. The players are focused on launching products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.
“Global Medical disposables Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for medical disposables providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of go to Market Strategies and identifying the blue ocean for its offerings.
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Market Segmentation:
1. By Product Type (wound management supplies, drug delivery disposables, non-woven medical disposables, other disposables)
2. By Raw materials (plastic resins, nonwoven material, rubber, paper and paperboard, metals, glass, others)
3. By End-Users (hospitals & clinics, ambulatory surgical centers, home care settings, others)
4. By Region (North America, Europe, Asia-Pacific, Rest of the World)
5. By Company (Medline Industries Inc., Smith & Nephew PLC, Bayer AG, BD, 3M, Cardinal Health, Abbott Laboratories, Johnson & Johnson, Medtronic Incorporated, Boston Scientific Corporation)
Key questions answered in the study:
1. What are the current and future trends of the medical disposables industry?
2. How the industry has been evolving in terms of product type, raw materials, and end-users?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Medical disposables industry?
5. What are the customer orientation, purchase behavior, and expectations from the medical disposables firms across various regions?
Table of Content –
1 MARKET INTRODUCTION
2 RESEARCH METHODOLOGY OR ASSUMPTION
3 MARKET SYNOPSIS
4 EXECUTIVE SUMMARY
5 MEDICAL DISPOSABLES MARKET COVID-19 IMPACT
6 MEDICAL DISPOSABLES MARKET REVENUE, 2019-2027F
7 MARKET INSIGHTS BY PRODUCT
8 MARKET INSIGHTS BY RAW MATERIALS
9 MARKET INSIGHTS BY END USER
10 MARKET INSIGHTS BY REGION
11 MEDICAL DISPOSABLES MARKET DYNAMICS
12 MEDICAL DISPOSABLES MARKET OPPORTUNITIES
13 MEDICAL DISPOSABLES MARKET TRENDS
14 LEGAL & REGULATORY FRAMEWORK
15 DEMAND AND SUPPLY SIDE ANALYSIS
16 COMPETITIVE SCENARIO
17 COMPANY PROFILED
18 DISCLAIMER
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