Global Healthcare Consumables Market Size By Product Type, By Raw Materials, By End Users, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
Global Healthcare Consumables Market Size By Product Type, By Raw Materials, By End Users, By Geographic Scope And Forecast
Healthcare Consumables Market Size And Forecast
Healthcare Consumables Market size was valued at USD 492.54 Billion in 2024 and is projected to reach USD 1145.19 Billion by 2031, growing at a CAGR of 12.27% during the forecast period 2024-2031.
Global Healthcare Consumables Market Drivers
The market drivers for the Healthcare Consumables Market can be influenced by various factors. These may include
Growing Global Healthcare Spending The demand for healthcare consumables rises in tandem with rising global healthcare spending, which is a result of factors such as population expansion, ageing populations, and the prevalence of chronic diseases.
Technological Developments The creation of cutting-edge healthcare consumables, such as less invasive surgical tools, enhanced wound care products, and disposable medical devices, is fueled by developments in medical technology and drives market expansion.
Chronic Disease Prevalence As chronic illnesses like diabetes, heart disease, and cancer become more common, medical supplies must always be used for diagnosis, treatment, and management.
Growing Awareness of Hygiene and Infection Control The need for disposable consumables like gloves, masks, and disinfectants is driven by growing awareness of the significance of hygiene and infection control in healthcare settings.
Trend towards Home Healthcare The trend towards self-administration of therapies and home healthcare raises demand for consumables including wound dressings, insulin syringes, and catheters, which in turn propels market expansion. The market for healthcare consumables is driven by government initiatives and healthcare policies that aim to improve patient safety, expand access to healthcare services, and improve healthcare infrastructure.
Development in Emerging Markets The healthcare consumables market is growing as a result of emerging markets’ quick economic development, expanding healthcare infrastructure, and bettering access to healthcare.
COVID-19 Pandemic The COVID-19 pandemic has increased demand for healthcare consumables, including diagnostic kits, ventilator parts, and personal protective equipment (PPE), which is fueling the market’s growth.
Global Healthcare Consumables Market Restraints
Several factors can act as restraints or challenges for the Healthcare Consumables Market. These may include
Tight Regulations Manufacturers may find it difficult to comply with standards and regulations, which might result in higher expenses and postponed product launches.
Exorbitant Cost of Advanced Consumables The high cost of advanced healthcare consumables, such as surgical equipment, biomaterials, and sophisticated wound care products, can hinder their adoption, particularly in developing nations.
Limited Healthcare Infrastructure The demand for healthcare consumables may be restricted in some places due to inadequate healthcare infrastructure, which may leave healthcare facilities unable to make good use of modern consumables.
Growing Healthcare expenses As healthcare expenses rise globally, healthcare providers may find themselves under financial pressure to cut costs or choose less expensive options when it comes to consumables.
Competitive Pricing Pressure When manufacturers of healthcare consumables compete fiercely, it can affect profit margins and impede market expansion.
Product Safety and Quality Concerns Problems with product recalls, quality assurance, and safety can undermine consumer trust and impede market expansion.
Restricted Reimbursement rules In markets where costs are a concern, healthcare practitioners may be discouraged from implementing specific healthcare consumables due to limited or insufficient reimbursement rules.
Technological Barriers Healthcare providers may need to regularly replace their equipment and consumables due to the rapid improvements in technology, which could provide logistical and financial issues.
Supply Chain Disruptions The availability and price of medical supplies can be affected by disruptions in the global supply chain, such as shortages of raw materials, delays in transit, or geopolitical unrest.
Resistance to Change The reluctance of healthcare organisations or experts to embrace new supplies or methods because they are accustomed to the status quo or because they have safety and efficacy concerns.
Global Healthcare Consumables Market Segmentation Analysis
The Global Healthcare Consumables Market is Segmented on the Basis of Product Type, Raw Materials, End Users, And Geography.
Healthcare Consumables Market, By Product Type
Wound Care Consumables
Diagnostic Consumables
Respiratory Supplies
Drug Delivery Products
Dialysis Consumables
Sterilization Consumables
Incontinence Products
Disposable Gloves
Disposable Masks
Hands Sanitizer
Others
Based on the Product Type, The market is bifurcated into wound care consumables, diagnostic consumables, respiratory supplies, drug delivery products, dialysis consumables, sterilization consumables, incontinence products, disposable gloves, disposable masks, hands sanitizer, and others. The sterilization consumables segment is expected to have a leading market share of the global Healthcare Consumables Market during the forecast period. During the post-pandemic era, sterilization has become a crucial need for reducing the frequency of hospital-acquired infections.
Healthcare Consumables Market, By Raw Materials
Rubber
Non-woven Materials
Glass
Metals
Plastic
Paper
Others
Based on the Raw Materials, The market is bifurcated into rubber, non-woven materials, glass, metals, plastic, paper, and others. The plastic segment is forecasted to lead the market during the forecast period as most of the products under Healthcare Consumables are manufactured using plastic as raw material. Plastic also has greater sterility and almost zero reactivity with other materials, which makes it an ideal raw material for Healthcare Consumables.
Healthcare Consumables Market, By End Users
Hospitals
Home Healthcare
Others
Based on the End Users, The market is bifurcated into hospitals, home healthcare, and others. We have predicted that the hospital segment will dominate the market due to the applications Healthcare Consumables have in hospitals. With the growing prevalence of chronic diseases and the growing geriatric population, the frequency of hospital admissions has increased greatly. However, the home healthcare segment is also expected to report noteworthy growth during the forecast period.
Healthcare Consumables Market, By Geography
North America
Europe
Asia Pacific
Middle East and Africa
Latin America
Based on the Regional Analysis, On the basis of Geography, the Global ABC is classified into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. It is because the region includes emerging markets such as China, India, South Korea, and others that are known as the manufacturing hub of the world. Growing reliance on technology, increasing investment from global players and governments, and a rising geriatric population are the potential market drivers for the Asia Pacific region.
Key Players
The major players in the Healthcare Consumables Market are
McKesson Medical-Surgical Inc
Medline Industries Inc
B. Braun Melsungen AG
Terumo Medical Corp
Owens and Minor
Smith And Nephew Inc
Cardinal Health
3M
Baxter
Fresenius Medical Care AG & Co. And KGaA
BD
Thermo Fisher Scientific
Baxter International
Avanos Medical
Johnson & Johnson
Medtronic
Boston Scientific Corporation
Report Scope
REPORT ATTRIBUTES
DETAILS
STUDY PERIOD
2021-2031
BASE YEAR
2024
FORECAST PERIOD
2024-2031
HISTORICAL PERIOD
2021-2023
UNIT
Value (USD Billion)
KEY COMPANIES PROFILED
McKesson Medical-Surgical Inc, Medline Industries Inc, B. Braun Melsungen AG, Terumo Medical Corp, Owens and Minor, Smith And Nephew Inc, Cardinal Health, 3M, Baxter, and Fresenius Medical Care AG & Co. And KGaA.
SEGMENTS COVERED
By Product Type, By Raw Materials, By End Users, By Geography
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