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| Global Healthcare Consumables Market |
The global healthcare consumables market comprises various medical supplies that are consumed on regular basis at healthcare facilities. Some key products in this market include syringes, needles, catheters, bandages, surgical gloves and drapes. The growth in demand for these disposable medical supplies is being driven by increasing healthcare spending worldwide as well as rising number of surgical procedures performed for various conditions. For instance, growing incidence of chronic diseases is resulting in more hospital admissions and treatments. This rising patient volume in hospitals and clinics has significantly boosted the consumption of consumable medical supplies over the years.
The Global healthcare consumables market is estimated to be valued at US$ 376.91 Bn in 2024 and is expected
to exhibit a CAGR of 11% over the
forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Healthcare Consumables are Procter
& Gamble, B. Braun SE, McKesson Medical-Surgical Inc, Medline
Industries Inc., Owens and Minor, Smith And Nephew plc, 3M, Baxter, Fresenius
Medical Care AG, Cardinal Health, Terumo Medical Corporation, Honeywell
Interational Inc., Dynarex Corporation, Kemei, Unigloves, Argentum Medical,
Alliqua Biomedical, AccelHeal, Globus Medical.
The Global
Healthcare Consumables Market Demand provides plenty of opportunities such as
growing usage of minimally invasive surgeries which result in more consumption
of medical consumables. Furthermore, rising geriatric population globally is
another important growth driver as older people tend to require more medical
services which further boosts demand for consumable products.
Key players are expanding globally into high potential emerging markets to tap
the opportunities offered by countries with growing healthcare infrastructure
and increasing medical tourism. For example, companies are investing in setting
up manufacturing plants in Asia Pacific and Latin America to cater to regional
demand.
Market drivers:
Growing incidence rates of chronic diseases worldwide is a key factor driving
demand. These long term conditions often require lifelong management and
treatments which results in sustained consumption of medical supplies over
time.
Rising healthcare spending in developing economies due to economic growth which
is enabling people to spend more on their health and medical services. This
rising expenditures is contributing to volume growth.
Market restraints:
Pricing pressures faced by players due to intense competition in the market
could limit potential profits.
Fluctuations in prices of raw materials used to make these products impacts manufacturing
costs for companies.
Segment Analysis
The Global Healthcare Consumables Market is dominated by surgical gloves sub
segment owing to rising healthcare associated infections necessitating proper
healthcare worker safety. Surgical gloves are the most commonly used personal
protective equipment across healthcare facilities globally and account for over
30% of the overall market share. The wound care/wound closure sub segment is
another major segment and is growing at a fast pace due to increasing number of
surgical procedures being performed annually and rising prevalence of chronic
wounds worldwide. Skincare/skinclosures sub segment forms a sizable portion as
well and is driven by growing geriatric population susceptible to various skin
disorders.
Global Analysis
North America dominates the Global Healthcare Consumables Market accounting for
over 35% share attributed to high healthcare expenditure, presence of advanced
healthcare infrastructure and stringent regulations regarding hygiene and safety.
Asia Pacific is identified as the fastest growing region on account of large
patient population, improving access to healthcare services and rising medical
tourism. Further, increasing incidence of chronic illnesses coupled with
expanding medical facilities are fueling the healthcare consumables market
across emerging countries of Asia Pacific. Europe holds a significant share
owing to presence of universal healthcare along with focus on quality and
safety. However, shortage of resources has led to cost containment measures
impacting the regional growth.
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Healthcare Consumables Market
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