The Medical Supplies Market by Type is expected to reach $136.63 billion, at a CAGR of 6.8%,
The major factors contributing to the growth of this Medical Supplies Market include increasing patient pool for renal diseases, rising incidence of diabetes and hypertension, growing the geriatric population, and increasing adoption of dialysis procedures over kidney transplantations.
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Medical Supplies Market
Growth in the medical supplies market is primarily driven by the increasing prevalence of chronic and infectious diseases, the rising number of surgeries, growing geriatric population, and the rising number of hospital-acquired infections (HAIs). However, strict and mandate regulatory requirements for the approval of medical supplies and the rising number of product recalls are expected to hinder the growth of this market.
Medical Supplies Market Drivers;
- Rising Incidence of Diseases
- Growing Geriatric Population
- Increasing Incidence of Hospital-Acquired Infections
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Medical Supplies Market Restraints;
- Stringent Regulatory Requirements for the Approval of Medical Supplies
- Product Recalls
Medical Supplies Market Opportunities;
- Emerging Markets
- Increasing Government and Corporate Investments in Healthcare Projects and Infrastructure
Major Market Developments Medical Supplies Market :
- In November 2016, St. Jude Medical, Inc. (U.S.) launched its EnSite Precision Cardiac Mapping System and the Sensor Enabled Mapping Catheter in Europe.
- In April 2016, Acelity L.P., Inc. (U.S.) added seven new products to its existing TIELLE foam dressing product line in the U.S.
- In March 2015, Bayer Healthcare (Germany) received Japanese approval for its MRI contrast agent, Gadovist.
The Major Key Players in the Medical Supplies Market;
Boston Scientific Corporation (U.S.), Johnson & Johnson (U.S.), Medtronic plc (Ireland), Becton, Dickinson and Company (U.S.), Cardinal Health, Inc. (U.S.), B. Braun Melsungen AG (Germany), Baxter International Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), Halyard Health, Inc. (U.S.), and 3M Company (U.S.).
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