Hospital Supplies Market Size Report | Growth & Trends 2027

[Research Report] The hospital supplies market is expected to grow to US$ 101,008.7 million in 2027 from US$ 44,876.0 million in 2020; the hospital supplies market is estimated to grow with a CAGR of 11.9% from 2020-2027.

Analyst Perspective:

The growing awareness about the benefits of sterilization, disinfections, and hygiene is leading to the increasing adoption of hospital consumables in healthcare facility centers, including home care settings. In addition, the demand for hospital supplies is substantially increasing due to the use of disposable hospital supplies for diagnostic and therapeutic applications & growing number of healthcare facilities across the world. Moreover, developing countries in the Asia Pacific, Middle East, and South & Central America are demanding more hospital supplies due to growth in their medical tourism. On the other hand, in 2020, North America had the largest hospital supplies market share, followed by Europe. Moreover, Asia Pacific is expected to grow with the highest CAGR owing to rising expenses for the healthcare sector. The countries are spending more on the development of healthcare infrastructure with an aim to provide good quality care. Thus, there is an exponential demand for hospital supplies in the region.

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Hospital Supplies Market: Strategic Insights

Market Size Value in	US$ 44,876.0 million in 2020
Market Size Value by	US$ 101,008.7 million in 2027
Growth rate	CAGR of 11.9% from 2020 to 2027
Forecast Period	2020-2027
Base Year	2020

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Market Overview:

Hospital supplies are medical consumables and equipment that are used in hospitals and clinics for patient treatment, disinfection, transportation, and primary patient diagnosis. Medical products such as drapes, gloves, procedure trays, needles, syringes, operating room tables, operating room lights, thermometers, wheelchairs, stethoscopes, stretchers, and sterilization equipment. The rising geriatric population, increasing incidence of Hospital Acquired Infections (HAIs), increasing number of hospitals, and the growing number of surgical procedures have all increased the hospital supplies market. Hospital supplies are part of almost all procedures in hospitals. The key factors that are driving the hospital supplies market growth are increasing incidences of chronic diseases, increasing incidences of hospital-acquired infections, an increasing number of surgical procedures performed, and growing geriatric population, and growing public-private partnerships in the healthcare industry. However, the hospital supplies market is expected to experience slower growth due to frequent product recalls of hospital supplies & equipment and stringent regulatory requirements. Whereas, based on geography, North America is the largest market and followed by Europe. Asia is the fastest-growing region in the global hospital supplies market.

Lucrative Regions for Hospital Supplies Market

Market Driver:

Increasing Incidence of Hospital-Acquired Infections to Drive the Hospital Supplies Market Growth

Hospital-acquired infections affect patients not only during their stay in the hospitals but also post-patient discharge from hospitals. Moreover, these occupational infections are observed to be common within the hospital and nursing staff too. According to the World Health Organization (WHO), hundreds of millions of patients are affected by healthcare-associated infections every year, leading to significant morbidity and mortality around the world.

As per the WHO’s latest data published in May 2022, in acute-care hospitals, out of every 100 patients, seven patients in high-income and fifteen patients in low-and middle-income countries will have at least one hospital-acquired infection during their stay in the hospital; also, the WHO estimates, one in every ten affected patients will die due to their hospital-acquired infection.

Moreover, in high-income countries, approximately 30% of patients in intensive care units (ICUs) are affected by at least one HAIs. This rate of HAIs is approximately 2-3 folds higher in low- and middle-income countries. In addition, the WHO claims that newborns are at a higher risk of developing these infections, with infection rates 3-20 times higher in developing countries as compared to high-income countries of the globe. As a result of this significant prevalence rate of these infections, the endemic burden of healthcare-associated infections is also turning up higher, majorly among the developing economies of the world. The European Centre for Disease Prevention and Control reports an average prevalence of 7.1% in European countries. The Centre estimates that 4,131,000 patients are affected by approximately 4,544,100 episodes of healthcare-associated infection every year in Europe. Thus, the increasing prevalence of HAIs is expected to create a demand for disposable medical products promoting market growth across the world.

Segment Analysis:

Based on the type, the global hospital supplies market is segmented into syringes, patient examination devices, mobility aids and transportation equipment, operating room equipment, sterilization and disinfectant equipment, and disposable hospital supplies. In 2020, the disposable hospital supplies segment accounted for the largest hospital supplies market share. The growth of disposable hospital supplies is primarily attributed to the high demand for hospital disposables to prevent the spread of infections and maintain sterility. Similarly, the growing number of multispecialty hospitals is driving the growth of the segment. The syringe segment is further sub-segmented into generalized syringes and specialized syringes. The generalized syringes segment takes the larger market share of the global hospital supplies market by the syringe segment. At the same time, the specialized syringes segment is classified into insulin syringes, allergy syringes, tuberculin syringes, and other syringes. The patient examination devices segment is expected to grow due to a few key driving factors, such as rising hospital infrastructure and growing government investments in developing healthcare infrastructure. In addition, the mobility aids and transportation equipment segment are likely to grow due to factors such as growing technological advancements, the rising number of disability cases, and the rising geriatric population. Similarly, the growth of mobility aids and transportation equipment is widely attributed to the rise in the prevalence of knee disorders and bone disorders cases and the increase in the prevalence of disabled people. The growth of operating room equipment, by type, is anticipated to grow due to technological innovation and rising demand for advanced and accurate surgical equipment. Moreover, the other leading factors of the operating room equipment segment’s growth include the rising incidence of chronic disease, the growing number of surgeries, and the rise in the number of ambulatory surgical centers (ASCs). These factors lead to surgical procedures, which leads to increasing demand for hospital supplies. Similarly, the sterilization and disinfection segment, by type, is estimated to grow due to rising government initiatives and investments to improve public health that requires sterilized and disposable equipment.

Regional Analysis:

North America held the largest market share of the global hospital supplies market, which was valued at US$ 20,204.7 million in 2020 with a CAGR of 12.1%. The North American region is expected to continue to hold the largest market share due to factors such as the increasing geriatric population, rising prevalence of diabetes and cancer, favorable reimbursement for diabetes care, and increasing healthcare expenditure by government and private players. In North America, the US held the largest market of 63.9% for the hospital supplies market. The hospital supplies market in the US is highly regulated and is taken care of by the Food and Drug Administration (FDA). The FDA is looking forward to establishing additional requirements for a hospital bed and wheelchair manufacturers proactively facilitating hospital supplies quality improvements. In addition, the FDA is making efforts to increase user awareness so as to address disposables and sterilization equipment and support the safe use of these devices in the US.

However, Asia Pacific is expected to be the fastest-growing region with a CAGR of 12.8% due to the large population of countries such as China and India, increasing focus of market players developing novel products at affordable prices, initiatives by the local authorities, rising medical tourism, rise in the prevalence of cancer and diabetes. In the Asia Pacific region, China is the largest market. The growth of the market in China is attributed to the rapidly increasing demand for advanced healthcare products and the growing adoption of modernized techniques. In addition, the growth of hospital supplies in China is driven by increased individual wealth, which has led to more sophisticated healthcare knowledge; therefore, the demand for medical supplies and disposable products has exponentially grown and is expected to become more diversified during the forecast period.

Key Player Analysis:

The hospital supplies market majorly consists of the players such as Cardinal Health Inc; Becton Dickson and Company; Baxter International Inc; B. Braun Melsungen AG; Nipro Medical; Smith Medical; 3M Healthcare; GE Healthcare; Terumo Corporation, and Boston Scientific Corporation, amongst others. Cardinal Health Inc. and BD are the top two players in the hospital supplies market. Cardinal Health, Inc. is a global, integrated healthcare services and products company that is engaged in providing customized solutions for healthcare systems, hospitals, pharmacies, ambulatory surgery centers, clinical laboratories, and physician offices. The company offers medical products and pharmaceuticals through an efficient supply chain. The major segments of the company are pharmaceutical and medical. The medical segment manufactures and distributes Cardinal Health branded medical, surgical, and laboratory products, which are sold in Canada, the United States, Europe, Asia, and other markets. Whereas BD, also known as Becton, Dickinson, and Company, is a global medical technology company that is indulged in the manufacture, development, and sales of medical devices worldwide. The company operates through two worldwide business segments: BD Medical, BD Interventional, and BD Life Sciences. The major share of the company in the global market can be attributed to its wide geographic presence, broad syringes product portfolio, multiple product launches in the last couple of years, and healthy performance of its syringes segment across the world. Global efforts toward the consumables segment have led the company to be one of the major players in the hospital supplies market across the world.

Recent Developments:

Inorganic and organic strategies are highly adopted by companies in the hospital supplies market. A few recent key market developments are listed below: 

• In July 2022, Cardinal Health, Inc. and Quipt Home Medical Corp. signed a contract to sell and distribute hospital supplies. Under the contract, Quipt agreed to offer to sell hospital supplies, and Cardinal agreed to supply and distribute disposable medical supplies nationwide through its Cardinal Health at-Home, business unit.
• In October 2020, Baxter Healthcare and Premier Inc. announced their partnership to supply pre-filled, single-use IV bags of dexmedetomidine hydrochloride to healthcare providers through Premier, Inc.’s ProvideGx program during the COVID-19 pandemic. The partnership was made to secure a long-term supply of medication for most acute cases of COVID-19 requiring care.
• In August 2020, B. Braun Medical Inc. and Kerma Medical Products, Inc. announced their collaboration to improve the development and delivery of healthcare products and services. Both companies aim to emphasize veteran, minority, and other underserved communities and strategically on the functional areas, including product development, co-marketing opportunities, strategic sourcing, sustainable manufacturing, and diversity programs, among others.