Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 375.64 Billion | USD 586.46 Billion | 14.5% | 2021 |
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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