Global Hospital Supplies Market Report 2020 - Opportunities And Strategies, Market Forecast And Trends
16 Dec, 2020
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The global hospital supplies market is expected to grow from $32.9 billion in 2019 to $44.7 billion in 2020 at a compound annual growth rate (CAGR) of 36.1%. The growth is mainly due to the COVID-19 outbreak and the surge in demand for hospitals supplies including personal protective equipment, surgical supplies, sterilization equipment, disinfectants and hospital beds, among others. With the increasing number of cases, hospitals are flooded with COVID-19 positive patients. In order to meet demand and address the supply shortage concerns, most of the hospitals have also suspended the non-urgent medical procedures. The market is then expected to recover and grow at a CAGR of 5% from 2021 and reach $50.1 billion in 2023.
The hospital supplies market consists of sales of hospital supplies and related services by entities (organizations, sole traders and partnerships) that produce hospital supplies. This industry includes establishments that produce disposable consumables such as glucose test strips, conventional syringes and others. It also includes establishments manufacturing sterilization equipment and disinfectants used in operation theaters during surgeries and mobility equipment such as wheelchairs, walkers and others to transport patients from one place to another.
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The global hospital supplies market is further segmented based on type, end-user, type of expenditure, product and geography.
By Type: Disposable Hospital Supplies, Sterilization Equipment And Disinfectants, Mobility Aids And Transportation Equipment, Operating Room Equipment
By End User: Hospitals And Clinics, Diagnostic Laboratories, Others.
By Type of Expenditure: Public, Private.
By Product: Instruments/Equipment, Disposables.
By Geography: The global hospital supplies market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American hospital supplies market accounts for the largest share of 39% in the global hospital supplies market 2019.
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Trends In The Hospital Supplies Market
Surgical beds and other long-term care beds are now being designed to deliver effective quality care. Technologically advanced beds are combining patients’ safety and comfort needs. Key establishments manufacturing medical and surgical beds are focusing on designing beds with multiple advanced technological features.
Hospital Supplies Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides hospital supplies market overviews, analyzes and forecasts market size and growth for the global hospital supplies market, hospital supplies market share, hospital supplies market players, hospital supplies market segments and geographies, hospital supplies market’s leading competitors’ revenues, profiles and market shares. The hospital supplies market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.