The global hospital supplies market accounted to US$ 37.9 Bn in 2018 and is expected to grow at a CAGR of 11.9% during the forecast period 2019
The hospital supplies market is highly competitive in nature with considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the hospital supplies market are present globally and have wide distribution and sales network through partnerships or authorized dealers.
The most notable hospital supplies market participants are Cardinal Health, Becton Dickson and Company, Baxter, B. Braun Melsungen AG, Nipro Medical, Smith Medical, 3M Healthcare, GE Healthcare, Terumo Corporation, and Boston Scientific, occupying a considerable share of the market owing to their offerings to the market.
Hospital supplies market leaders are involved in providing the products and systems that contribute to quality enhancement and cost efficiency within healthcare and life sciences. For instance, in May 2018, 3M have launched the 3M Single-Patient Stethoscope, a high-quality disposable stethoscope with excellent sound quality, durable and comfort. It will help to eliminate the use of personal stethoscopes in isolation environments and prevent transmission of infectious diseases.
Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally various companies are also undergoing other strategic alliances such as acquisitions and others to garner their significance and remain competitive in the market. Few on the important key developments from the industry are mentioned below:
|2018||Terumo Enters an Exclusive Distribution Relationship for Japan with Piramal Critical Care.||Asia Pacific|
|2017||B. Braun Medical Inc. introduced the single-use Actreen Mini Catheter and the Actreen Mini Set||North America|
|2017||BD Introduces New 6mm Pen Needle for Injection Pens.||North America|