A global disposable medical supplies market report from ResearchAndMarkets.com’s covers the market from 2022 to 2030.
The global disposable medical supplies market will reach $429.1 billion by 2030, according to the report.
The market is fueled by the growing incidence of disease and disorders coupled with aging population, rising incidence of hospital acquired infections (HAIs), impact of COVID-19 pandemic, a growing preference for low-cost disposable medical supplies that reduce contamination and HAIs. Favorable government regulations are also pushing the market to new heights, according to the report.
Grand View Research’s report on the market also forecasts continued growth.
The global medical disposables market size was valued at $318.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.7% from 2021 to 2028, Grand View Research reports. Grand View Research states that the growth is fueled by an increase is the number of surgical procedures being performed, an increased incidence of HAIs, the growth of chronic diseases leading to longer hospital admission and the continuing impacts of COVID-19.
The COVID-19 virus continues to impact the market.
“The COVID-19 outbreak and increasing hospital admissions across the globe have significantly increased the demand for medical disposables,” according to Grand View research. “The WHO has appealed to industries and governments to increase the manufacturing of personal protective equipment, including hospital gowns, gloves, medical masks, face shields, aprons, respirators and goggles, by 40% to meet the increasing global demand. It also reported that the increase in demand for these accessories has increased their prices to a major extent. For instance, the price of surgical masks has increased six-fold and the price of hospital gowns has increased two-fold. Furthermore, the WHO has shipped around half a million sets of personal protective equipment to around 47 countries. Therefore, the outbreak of COVID-19 has immensely impacted the market and is a highly effective driver for this market.”
Grand View Research also shared some product insights.
“The sterilization supplies segment dominated the market for medical disposables and held the largest revenue share of over 13.0% in 2020. Based on product, the market is segmented into wound management products, drug delivery products, diagnostic and laboratory disposables, dialysis disposables, incontinence products, respiratory supplies, sterilization supplies, non-woven disposables, disposable masks, disposable eye gear, disposable gloves, hand sanitizers and others,” Grand View Research said.
Mordor Intelligence predicts growth in the market as well.
“The disposable medical supplies market is projected to register a CAGR of 9.4% during the forecast period (2022-2027),” Mordor Intelligence states.
