The global healthcare consumables market comprises various medical supplies that are consumed on regular basis at healthcare facilities. Some key products in this market include syringes, needles, catheters, bandages, surgical gloves and drapes. The growth in demand for these disposable medical supplies is being driven by increasing healthcare spending worldwide as well as rising number of surgical procedures performed for various conditions. For instance, growing incidence of chronic diseases is resulting in more hospital admissions and treatments. This rising patient volume in hospitals and clinics has significantly boosted the consumption of consumable medical supplies over the years.
The Global healthcare consumables market is estimated to be valued at US$ 376.91 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Global Healthcare Consumables are Procter & Gamble, B. Braun SE, McKesson Medical-Surgical Inc, Medline Industries Inc., Owens and Minor, Smith And Nephew plc, 3M, Baxter, Fresenius Medical Care AG, Cardinal Health, Terumo Medical Corporation, Honeywell Interational Inc., Dynarex Corporation, Kemei, Unigloves, Argentum Medical, Alliqua Biomedical, AccelHeal, Globus Medical.
The Global Healthcare Consumables Market Demand provides plenty of opportunities such as growing usage of minimally invasive surgeries which result in more consumption of medical consumables. Furthermore, rising geriatric population globally is another important growth driver as older people tend to require more medical services which further boosts demand for consumable products.
Key players are expanding globally into high potential emerging markets to tap the opportunities offered by countries with growing healthcare infrastructure and increasing medical tourism. For example, companies are investing in setting up manufacturing plants in Asia Pacific and Latin America to cater to regional demand.
Market drivers:
Growing incidence rates of chronic diseases worldwide is a key factor driving demand. These long term conditions often require lifelong management and treatments which results in sustained consumption of medical supplies over time.
Rising healthcare spending in developing economies due to economic growth which is enabling people to spend more on their health and medical services. This rising expenditures is contributing to volume growth.
Market restraints:
Pricing pressures faced by players due to intense competition in the market could limit potential profits.
Fluctuations in prices of raw materials used to make these products impacts manufacturing costs for companies.
Segment Analysis
The Global Healthcare Consumables Market is dominated by surgical gloves sub segment owing to rising healthcare associated infections necessitating proper healthcare worker safety. Surgical gloves are the most commonly used personal protective equipment across healthcare facilities globally and account for over 30% of the overall market share. The wound care/wound closure sub segment is another major segment and is growing at a fast pace due to increasing number of surgical procedures being performed annually and rising prevalence of chronic wounds worldwide. Skincare/skinclosures sub segment forms a sizable portion as well and is driven by growing geriatric population susceptible to various skin disorders.
Global Analysis
North America dominates the Global Healthcare Consumables Market accounting for over 35% share attributed to high healthcare expenditure, presence of advanced healthcare infrastructure and stringent regulations regarding hygiene and safety. Asia Pacific is identified as the fastest growing region on account of large patient population, improving access to healthcare services and rising medical tourism. Further, increasing incidence of chronic illnesses coupled with expanding medical facilities are fueling the healthcare consumables market across emerging countries of Asia Pacific. Europe holds a significant share owing to presence of universal healthcare along with focus on quality and safety. However, shortage of resources has led to cost containment measures impacting the regional growth.
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The global dental consumables market is expected to rise to a valuation of USD 28,345 million by 2024 growing at a robust growth rate of 6.5% over the forecast period, according to the latest research report from Market Research Future (MRFR).The growing spread of the dentistry field has been a massive driver for the global dental consumables market over the forecast period.
The field of dentistry has evolved rapidly in modern times to encompass several specialties such as orthodontics, prosthodontics, and endodontics.
While the field of dentistry has grown to encompass several sub-specialties, the instruments and equipment used by the various fields are largely similar, leading to a steady growth in demand from the dental consumables market.The growing demand for dental procedures due to the growing prevalence of conditions such as plaque and dental caries is likely to remain a major driver for the global dental consumables market over the forecast period.
The growing disposable income of consumers in emerging regions is also likely to be a key driver for the global dental consumables market over the forecast period.Request Free Sample Copy at:https://www.marketresearchfuture.com/sample_request/1806Competitive Analysis:Leading players in the global dental consumables market include Septodont, Straumann, KERR Corporation, EnvisionTEC, American Orthodontics, Dentsply Sirona, Nobel Biocare, Planmeca OY, Patterson Dental, GC Orthodontics, Henry Schein, and 3M.In March 2019, the NHS announced a planned price increase for dental procedures from April 1.
The price increase covers minor dental procedures as well as major operations such as root canal.
