CAGR: 8.10%Current Market Size: USD 380 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The Global medical disposables market is expected to grow from USD 380 million in 2022 to USD 765.9 million by 2030, at a CAGR of 8.10% during the Projection period 2023-2030. The increase in the geriatric population mainly drives the growth of the medical disposables market.
Multiple mental health issues known as depression are defined by a lack of optimism, which causes Medical disposables are tools, equipment, and supplies used in the healthcare sector that are only meant to be used temporarily to provide high-quality patient care. With the use of these tools during medical examinations, surgeries, and treatments, cross-contamination between medical professionals and those providing care as well as between medical professionals and patients can be avoided. Disposable medical equipment is a crucial part of infection control measures since it makes work for staff members easier and lowers healthcare expenditures. Single-use goods are more convenient than their conventional counterparts, which reduces the amount of time and money needed for sterilization. Some of the most often used medical disposables are gloves, face masks, blood bags, and needles. The market is primarily driven by the rising rates of surgical site infections and hospital-acquired infections (HAIs) around the world. This is related to the increase in surgical procedures necessitating lengthier hospital stays. A significant growth-inducing element for the market is also the sharp increase in the prevalence of chronic disorders including diabetes and cardiovascular diseases. A paradigm change toward single-use and temporary medical supplies, brought on by the general public's growing awareness of health and hygiene, is another factor driving the industry. Additionally, the increasing use of bioplastics as a result of growing environmental concerns is improving the market picture. Additionally, the growing geriatric population, which is prone to contracting numerous chronic diseases, is benefiting from market expansion. Other factors influencing the market include accelerating advancements in healthcare infrastructure, growing public investment, ongoing product innovation, and significant research and development (R&D) efforts made by major players.
Sample Request: - Global Medical Disposables Market
Market Dynamics:
Drivers:
Materials and equipment used in many different medical professions are included in medical disposables. Common medical disposables include surgical, pediatric, hygiene, and anesthetic wear. As hospitals proliferate around the world, interest in these materials and technology is growing. The market for medical disposables is anticipated to grow significantly over the projected period as a result of ongoing product development and introductions by key competitors. The key driver of the medical disposables market is the rising prevalence of chronic diseases. The market for medical disposables is being driven by an increase in the global elderly population. The market for medical disposables has an opportunity thanks to the booming home healthcare sector.
Restraints:
The rise in biomedical waste and associated environmental problems is the most obvious problem with single-use medical equipment and disposable supplies. There are specific procedures that must be followed for disposing of biomedical waste, including tools, materials, and supplies contaminated with biological fluids like blood or excretions.
Opportunities:
As the medical disposables community seeks to figure out how to effectively assist conventional public health initiatives, COVID-19 has likely affected a number of developments in 2020. A large portion of the US's medical disposables responses are based on a public-private partnership model, with cutting-edge technology companies setting the pace for technological innovation within a framework of supporting national legislation and technological infrastructure. Many have seized the opportunity to demonstrate that they can fulfill the real-world needs of healthcare professionals, patients, and the general public, either by integrating into the recognized healthcare grid or by creating their own platforms.
Challenges:
The market for medical disposables faces significant challenges due to strict approval standards. However, the greatest impediment to the growth of the medical disposables market over the Projection period is the decline in the frequency of hospital-acquired infections.
Segmentation Analysis:
The global medical disposables market has been segmented based on product, raw material, end-user, and region.
By Product
The product segment is drug delivery products, respiratory supplies, disposable gloves, disposable masks, disposable eye gear, hand sanitizers, wound management products, incontinence products, dialysis disposables, diagnostic & laboratory disposables, sterlization supplies, non-woven disposables, and others. The sterilization supplies segment led the largest share of the medical disposables market with a market share of around 30.5% in 2022. To prevent surgical-related infections, sterilization supplies include cotton swabs, cotton balls, test tubes, and other skin preparation items. Sterilizer bags, which are created to provide convenient medical equipment sterilization, are also included in the section. The market also includes cutting-edge goods like cotton swabs that have been pre-mixed with sterilising agents. These are practical to use because they eliminate the need to apply the solutions to cotton balls in the right amounts, which takes time and effort. A key factor impacting the segment growth is the rising need for sterilising supplies as a result of the pandemic's outbreak in hospitals and clinics. Additionally, the lack of viable alternatives and the creation of items with creative packaging are anticipated to positively affect the growth of this market sector.
By Raw Material
The raw material segment is nonwoven material, plastic resin, paper & paperboard, glass, metals, rubber, and others. The plastics resin segment led the largest share of the medical disposables market with a market share of around 40.3% in 2022. Medical gadgets such as disposable needles, containers, tubes for intravenous fluids, and other medication packaging materials have all been made using plastic resins. The expanding use of disposable products to stop the spread of COVID-19 and the rising prevalence of hospital-acquired illnesses are driving market expansion. The applications of plastics in the healthcare industry have increased due to the accessibility of several types of plastics with a wide variety of qualities, including polyvinyl chloride (PVC), polypropylene (PP), low- and high-density polyethylene, and polystyrene.
By End-User
The end-user segment is outpatient/primary care facilities, home healthcare, hospitals, and others. The hospitals segment led the largest share of the medical disposables market with a market share of around 38.3% in 2022. This occurs as a result of an increase in hospital patient admissions for COVID-19 procedures and therapies. According to research by the University of California, San Francisco, operating rooms produced more than 2000 tonnes of garbage daily on average in 2016, a large amount of which came from disposable medical supplies. Because of this high utilization of medical disposables in hospitals, the category may increase more quickly than expected during the Projection period.
Global Medical Disposables Market - Sales Analysis.
The sale of the medical disposables market expanded at a CAGR of 6.53% from 2016 to 2022.
The market's expansion is due to factors such as an increase in surgical operations, an increase in hospital-acquired infections (HAIs), an increase in the prevalence of chronic diseases that prolong hospital stays, and the effects of COVID-19 outbreaks over the world. The market for medical disposables is expected to benefit from the rising prevalence of chronic disorders including diabetes and cardiovascular diseases. For instance, according to the International Diabetes Federation, there will be 552.0 million cases of diabetes worldwide by 2030, up from 366.0 million in 2011. Long-term diabetes causes diabetic foot ulcers, which lengthen hospital stays and have a favorable effect on market growth during the Projection period.
Additionally, it is projected that the growing elderly population will fuel the expansion of the market for medical disposables. For instance, the World Health Organization (WHO) projects that by 2050, there will be 2.0 billion elderly people worldwide, up from 84.0 million in 2014. The older population is susceptible to a number of ailments, hence throughout the course of the Projection period, the market is predicted to develop significantly due to this growing geriatric population. It is also projected that ongoing efforts by key industry players will foster market expansion. The market's major participants are also implementing a variety of methods to fortify their positions.
Thus, owing to the aforementioned factors, the global medical disposables market is expected to grow at a CAGR of 8.10% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the medical disposables market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America region dominated the medical disposables market and held a 38.2% share of the market revenue in 2022.
Global Medical Disposables Market - Country Analysis:
Germany's medical disposables market size was valued at USD 0.75 million in 2022 and is expected to reach USD 1.19 million by 2030, at a CAGR of 6% from 2023 to 2030. The expanding awareness of the use of medical disposables, the rise in surgical procedures, and the presence of major market participants in the region have all fueled the regional market. The primary driver of the regional market's growth, however, is a market that is expanding and attracting new competitors.
China’s medical disposables market size was valued at USD 0.78 million in 2022 and is expected to reach USD 1.26 million by 2030, at a CAGR of 6.2% from 2023 to 2030. The second-largest economy in the world, China, is predicted to grow at a CAGR of 10.3% over the course of the Projection period to reach an estimated market size of US$73.5 billion in 2026.
India's medical disposables market size was valued at USD 0.60 million in 2022 and is expected to reach USD 0.96 million by 2030, at a CAGR of 6.1% from 2023 to 2030. Due to an increase in the number of elderly people and the incidence of cardiovascular disorders. Over the Projection period, it is anticipated that the high number of potential patients in this region will drive the expansion of the regional market.
Key Industry Players Analysis:
To increase their market position in the global medical disposables market business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8.10% |
Market Size |
380 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product, By Raw Material, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Smith+Nephew, Shanghai Neo-Medical Co., Ltd., Procter & Gamble, Rocamed, Raaj Medisafe India, Medline Industries, Inc., BD, Cvent Canada Inc., AMMEX Corp., Ansell Principle Business Enterprises, Inc., Narang Medical Limited., Ontex, Nu-Life Medical & Surgical Supplies Inc., Molnlycke Health Care, Mellon Medical B.V., Medtronic, MedGyn Products, Inc., MED-CON Inc., 3M, Cardinal Health, and Bayer AG. |
By Product |
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By Raw Material |
|
By End-User |
|
Regional scope |
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Scope of the Report
Global Medical Disposables Market By Product:
Global Medical Disposables Market By Raw Material:
Global Medical Disposables Market By End-User:
Global Medical Disposables Market By Region:
Global medical disposables market is expected to reach USD 765.9 million by 2030.
The medical disposables market is projected to have a CAGR of 8.10%.
Leading market players active in the global medical disposables market are Smith+Nephew, Shanghai Neo-Medical Co., Ltd., Procter & Gamble, Rocamed, Raaj Medisafe India, Medline Industries, Inc., BD, Cvent Canada Inc., AMMEX Corp., Ansell Principle Business Enterprises, Inc., Narang Medical Limited., Ontex, Nu-Life Medical & Surgical Supplies Inc., Molnlycke Health Care, Mellon Medical B.V., Medtronic, MedGyn Products, Inc., MED-CON Inc., 3M, Cardinal Health, Bayer AG. among other
Materials and equipment used in many different medical professions are included in medical disposables. Common medical disposables include surgical, pediatric, hygiene, and anesthetic wear. As hospitals proliferate around the world, interest in these materials and technology is growing. The market for medical disposables is anticipated to grow significantly over the projected period as a result of ongoing product development and introductions by key competitors.
Based on the raw material, the global medical disposables market has been segmented into nonwoven material, plastic resin, paper & paperboard, glass, metals, rubber, and others.
Political Factors- The foundation of the current form of government, which supports the activities of the medical disposables industry, is democracy. The democratic political system, which promotes initiative and free trade, offers financial freedom that the medical disposables sector can take advantage of. Pressure groups can alter the business environment by forming strong media alliances. These organisations are under pressure from these groups, which arrange protests and coordinate marketing campaigns. The medical disposables market needs to keep a watch on these pressure organisations because they have the ability to influence government legislation, which could ultimately have an effect on the broader business climate. The medical disposables industry should collaborate closely with these groups in order to earn their trust.
Economic Factors- The economic growth rates of the various countries should be taken into account when selecting whether or not to expand abroad for the medical disposables sector. In countries with strong rates of economic growth, there are more possibilities for pursuing long-term growth objectives. When the economy is expanding slowly, consumer purchasing becomes more circumspect, which directly affects the revenue growth of the medical disposables industry. Rising inflation may negatively affect the ability of the medical disposables market to increase its income since it lowers the purchasing power of money and discourages consumers from making purchases of products and services.
Social factors- Every country has unique cultural norms, values, and traditions that shape how people behave in everyday life, including as customers. Lack of adaptability to change product/service offerings in line with local cultural practises could have a negative impact on the business. To understand local consumers, the medical disposables market needs to conduct extensive research. The fact that the management of medical disposables market is an international company with a culturally diverse home market may make it difficult for them to understand the subtle cultural distinctions. To do this, the medical disposables market can forge business ties with regional market players that may be able to share in-depth understanding of the cultural norms and values that influence how consumers perceive and engage with the brand.
Technological Factors-Since these countries make it easier for enterprises to achieve objectives like cost reduction, innovation, and value creation, the medical disposables market should favour those countries with superior technology infrastructure. Because it can be simple for competitors to copy, a technologically advanced infrastructure also indicates that it will be more challenging for the medical disposables market to leverage technology to create a sustained competitive advantage. The market and industry as a whole may be affected by the speed and advancement of technical innovation. By studying the upcoming technological innovation trends, the medical disposables market will be able to comprehend the rate of new product development, the length of the product life cycle, and the distinctive features that consumers prefer.
Environmental Factors- Due to stringent environmental legislation in many different nations, businesses are under pressure to reduce environmental impact. In order to avoid harsh, reputation-damaging criticism from relevant stakeholders, the medical disposables market should adopt ethical production practises, encourage ethical consumption among its target market, work to improve its brand's sustainability reputation, and ensure full compliance with local and international environmental laws.
Legal Factors-Strict adherence to intellectual property laws benefits businesses like the medical disposables market since it protects their patents from infringement and gives them a long-lasting competitive advantage. In many countries, there are numerous federal and state laws in place to protect consumers from potential economic exploitation. In the era of information technology, laws have become considerably stricter to safeguard consumer privacy. In order to avoid lawsuits, the medical disposables market must rigorously adhere to the data privacy rules when conducting online transactions. Before entering new markets, medical disposables market management must examine regional laws governing returns, discounts, credit terms, quality, deceptive advertising, and maximum pricing (particularly in the case of basic essential goods).
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