Hospital Equipment and Supplies Market Growth Driven by Growing Number of Hospitals Worldwide: Reports and Data
The rapid adoption of disposable supplies, the increasing incidence of hospital acquired infections (HAIs), and technological advancements in medical technologies are some of the key factors driving the growth of the market
New York, October 16, 2021 – Reports and Data released its latest report titled “Hospital Equipment and Supplies Market Size, Share, Demand by Product, by Type of Expenditure (Public Hospitals, Private Hospitals) and by Distribution Channel (Pharmacies, Retail Stores, Retail Stores). line), forecast Until 2028 “
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According to Reports and Data, the global hospital equipment and supplies market size is expected to reach USD 95.00 billion in 2028, from USD 39.54 billion in 2020 and is expected to register a CAGR of 12.3% during the forecast period. 2021-2028.
Drivers, constraints and opportunities
The increasing global prevalence of infectious and chronic diseases is a major factor which is expected to positively impact the market revenue growth during the forecast period. The incidence of chronic disease is expected to reach 57% by the end of 2020, according to the World Health Organization. At the same time, the CDC predicts that hospital acquired illnesses cause nearly 1.7 million infections and 99,000 deaths in the United States alone each year. These organizations have suggested the use of strong linens, gowns, gloves and disinfectants in outpatient operating rooms and hospitals to prevent disease transmission and contamination of hospital supplies.
In addition, innovative medical technologies, increase in surgical procedures, increasing prevalence of lifestyle-related diseases and increasing public investment in advanced health infrastructure are other factors contributing to the growth of income in the world. Marlet. In addition, the growing popularity of home care services, strict government regulations, and the introduction of personalized drugs are factors that are expected to constrain the global market.
COVID-19 impact assessment
- Social distancing and restrictions have severely disrupted businesses and operations
- The closures have caused disruption in transportation and logistics
- Global Manufacturing and Mining Operations Affected
- Took a toll on the economy of various countries
- Caused a sudden and drastic slowdown in economic activity
- Agriculture, fishing, dairy and other disrupted sectors
- Caused job loss and financial crisis
- The impacts on supply have worsened further due to the drop in disposable income
- The emergence of variants continues to cause concern and impact normal routines
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Disposable Hospital Supplies Segment to Dominate Other Product Segment:
Disposable hospital supplies segment is expected to dominate other product segments during the forecast period, due to increased patient awareness of hospital acquired infections, rapid increase in regular checkups and government policies aimed at preventing infections. in hospitals in several countries.
North America will represent a significant share of revenues:
North America is expected to account for a significantly significant share of revenue during the forecast period due to ongoing technological advancements in the healthcare industry, increasing geriatric population, and increasing prevalence of lifestyle-related diseases such as diabetes, hypertension, cardiovascular disease and obesity in the region. .
Asia-Pacific leads in terms of revenue CAGR:
Asia-Pacific market revenue is expected to increase at a robust revenue CAGR over the forecast period attributed to rapid urbanization, increasing number of patients with chronic diseases and growing awareness of the population to regular health examinations. In addition, technological advancements and rapid growth of the healthcare industry during the Covid 19 pandemic in emerging economies such as India is driving the revenue growth of the APAC market.
The main companies in the market include:
- Johnson & johnson
- Baxter International
- Boston Scientific Society
- GE Healthcare
- Smith and nephew
- Stryker Company
- B Braun
- Thermo Fisher Scientific
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Market segmentation :
For the purpose of this report, Reports and Data has segmented the global hospital equipment and supplies market into products, expense type, distribution channel, and region:
Product Outlook (Revenue Billion USD; 2018-2028)
- Disposable hospital supplies
- Procedure kits and trays
- Mobility aids and transport equipment
- Operating equipment
- Operating room lights
- Operating room tables
- Patient examination devices
- Sterilization and disinfection equipment
- Chemical sterilization
- Physical sterilization
- Radiation sterilization
- Syringes and needles
- General syringes
- Specialized syringes
Expenditure Type Outlook (Revenue in Billions of Dollars; 2018-2028)
- Public hospitals
- For-profit hospitals
- Private non-profit hospitals
Distribution Channel Outlook (Revenue Billion USD; 2018-2028)
- Retail medical stores
- Online Retailers
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Regional Outlook (Revenue, USD Billion; 2018-2028)
- North America
- The rest of europe
- Asia Pacific
- South Korea
- Rest of the APAC
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of the MEA
Some points on how the report benefits stakeholders:
- Reports include historical (2018-2020) and forecast (2021-2028) data points, revenue and CAGR in tabular, figure and graph format, with detailed and qualitative written information supporting each. .
- The revenue breakdown is provided for each segment in these formats for the world, region and for each country in the respective region for each year between 2018 and 2028.
- The report contains information on growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, suppliers / distributors, and other players and the global market.
- Market research analysis is vital for all crucial business strategies and can help in many ways and provide a better understanding of the strategies deployed by competitors, product launches, competitive analysis, technological advancements and various other factors. that improve a company’s sales or can provide ideas for focusing on merger and acquisition as a strategy or entering into strategic agreements or joint ventures, etc.
- The report contains the profiles of the major companies operating in the market along with their respective revenue and operating segments, geographic scope, market footprint, corporate headquarters, growth rate, recent developments, product / service. , their expansion strategies, their investments in expansion, etc.
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About reports and data:
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