The Global Medical Disposables Market Size Was Worth USD 375.64 Billion in 2021 and Is Expected To Reach USD 586.45 Billion by 2028, CAGR of 14.5%.
The global medical disposables market achieved revenue growth of around USD 375.64 billion in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of approximately 14.5 percent to reach nearly USD 586.45 billion by 2028. The report examines key drivers and potential opportunities that significantly drive market growth. In addition to this, the study analyzes major challenges and restraints that can impact product demand and the overall market expansion during the forecast period.
Medical disposables are equipment and materials used in a variety of medical disciplines, including surgical wear, cleanliness, anesthesia, and pediatrics. Medical disposables, as the name implies, are designed to be used just once. These devices account for a significant portion of the medical device industry. Furthermore, as the number of hospitals grows, so does the demand for medical disposables. Because of the ongoing development of new and sophisticated goods, the market will continue to grow.
The COVID-19 outbreak has propelled the medical disposables industry to the forefront. Disposable medical supplies lower the risk of cross-infection between patients and healthcare workers. With the World Health Organization (WHO) issuing rules on the usage of gloves, face masks, and other types of PPE, the demand for personal protective equipment (PPE) has skyrocketed, resulting in a huge boost in the medical disposables industry during the pandemic period. The growth is expected to remain high during the forecast period owing to an increase in precautionary measures.
A surge in hospital-acquired infections may boost the demand for medical disposables.
The rise in hospital-acquired infection is a major driver of the medical disposables sector. Surgical site infections, catheter-associated urinary tract infections, ventilator-associated pneumonia, central line-associated bloodstream infections, hospital-acquired pneumonia, and Clostridium difficile infections are all illnesses that occur while receiving medical care in a hospital.
As a result, the need for disposable medical products such as hypodermic needles, prefilled syringes, and others is increasing, which is boosting the global medical disposables market. Hospital-acquired bacterial, viral, and fungal diseases impact 15 percent of all patients in hospitals, according to the World Health Organization (WHO) and this number is projected to increase. As a consequence, the disposable medical devices market is expected to increase between 2021 and 2028.
Stringent government regulations may hinder market growth over the forecast period.
Demand for disposable medical devices significantly increased in the last couple of years and the current COVID-19 pandemic boosted their need significantly. However, such medical devices require approval from many medical regulators such as FDA, WHO, etc. Owing to stringent rules for the materials use, manufacturing process, clinical trials, and efficacy many disposable medical products failed in the regulatory process which limits the entry of new products into the market, which in turn affects the overall market growth.
Technical advancement in disposable medical supplies is projected to offer better growth opportunities for market expansion.
The important trends in the global medical disposables market include technological developments in medical supplies for home care settings. To maintain their market position, major manufacturers are focusing on expanding their product line with new tech. When compared to cost-effective reusable medical supplies, single-use or disposable medical gadgets are expected to save a substantial amount of money by 2028. Furthermore, such medical supplies aid in infection prevention and eliminate the time-consuming & difficult procedure of recycling the supplies. All these factors are likely to boost the market.
Report Scope:
An increase in disposable medical waste poses a major challenge to market growth.
The increased waste created by disposable medical equipment is one of the issues that is expected to stymie the market's expansion. In many emerging countries proper disposal of medical waste is still a major issue. This is primarily due to low awareness about the hazards of medical waste, the willingness of health ministries, and the lack of stringent laws and their executions. Due to all these reasons amount of medical waste has already increased at an alarming level and it is expected to increase more due to rising demands.
The global medical disposables market is segregated based on type and region. Different types of medical disposables categorized in the report include blood collection consumables, glucose monitoring strips, prefilled syringes, dialysis consumables, radiology consumables, diagnostic catheters, intubation & ventilation supplies, infusion products, hypodermic products, sterilization consumables, smart syringes, incontinence products, nonwoven medical supplies, surgical nonwoven products, wound care consumables, infection management products, exudate management products, and NPWT Devices.
Recent Developments
North America is expected to lead the global market over the forecast period.
North America led the global medical disposables market in revenue share in 2021, with more than 34 percent, due to the presence of large firms in the area and the growing number of surgical treatments. Furthermore, the increase in the number of Covid-19 patients in this region has boosted the need for medical disposables. According to information released by the World Health Organization (WHO) on April 20, 2020, approximately 33,909 open cases were accounted for in Canada, with 1,509 new verified cases. Furthermore, the number of cases is projected to increase significantly in the coming month or two. These factors are projected to increase regional demand for medical disposables. The market in the Asia Pacific is expected to expand the fastest over the forecast period, owing to the rising prevalence of cardiovascular problems and the growing older population. It is one of Covid-19's worst-affected locations. Covid-19 instances have been found in unusually high numbers in India, South Korea, and China. Furthermore, the densely populated regions inside this region make it simpler for the disease to spread widely. During the projected period, a larger number of prospective patients in this area is likely to drive market expansion.
Major players operating in the global medical disposables market include Boston Scientific Corporation, Abbott Laboratories, B. Braun Melsungen AG, Medtronic plc, Johnson and Johnson, Smith and Nephew plc, 3M Company, Pfizer Incorporated, Terumo Corporation, and Cardinal Health is also provided in this report.
The global medical disposables market is segmented as follows:
FrequentlyAsked Questions
The rise in hospital-acquired infection is a major driver of the medical disposables sector. Surgical site infections, catheter-associated urinary tract infections, ventilator-associated pneumonia, central line-associated bloodstream infections, hospital-acquired pneumonia, and Clostridium difficile infections are all illnesses that occur while receiving medical care in a hospital. As a result, the need for disposable medical products such as hypodermic needles, prefilled syringes, and others is increasing, which is boosting medical device market research.
According to the Zion Market Research report, the global medical disposables market was worth about 375.64 (USD billion) in 2021 and is predicted to grow to around 586.45 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 14.5 percent.
North America led the medical disposables market in revenue share in 2021, with more than 34 percent, due to the presence of large firms in the area and the growing number of surgical treatments. Furthermore, the increase in the number of Covid-19 patients in this region has boosted the need for medical disposables. According to information released by the World Health Organization (WHO) on April 20, 2020, approximately 33,909 open cases were accounted for in Canada, with 1,509 new verified cases. Furthermore, the number of cases is projected to increase significantly in the coming month or two. These factors are projected to increase regional demand for medical disposables.
Major players operating in the global market include Boston Scientific Corporation, Abbott Laboratories, B. Braun Melsungen AG, Medtronic plc, Johnson and Johnson, Smith and Nephew plc, 3M Company, Pfizer Incorporated, Terumo Corporation, and Cardinal Health is also provided in this report.
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