Medical Disposables Market Size will Impact US$ 844 Bn by 2027

September 29, 2020 10:00 ET

             | Source:  Precedence Research








        The global medical disposables market size is anticipated to reach USD 844 billion by 2027 according to new study by Precedence Research.  OTTAWA, Sept.  29, 2020  (GLOBE NEWSWIRE) -- In 2019, the global medical disposables market size was accounted for US$ 245.26 billion and is expected to reach USD 844 billion by 2027 with the CAGR of 16.2 % from 2020 to 2027. View More Details@ https://www.precedenceresearch.com/medical-disposables-market  Medical disposables comprise material and devices that play an important role in several medical fields. Medical disposables commonly include pediatric, hygiene, anesthesia, and surgical wear. These materials and devices are gaining traction owing to the increasing number of hospitals across the globe. The medical disposable market is expected to witness significant growth over the forecast period due to continuous product development and product launches by market players.  Growth Factors  The increasing number of surgeries across the globe is a major factor responsible for medical disposables market growth. According to Molnlycke Health Care AB, in Europe, around 70 million surgeries are performed every year. Medical disposables include disposables eye gear, respiratory supplies, hand sanitizers, sterilization supplies, sanitary napkins, and hospital gowns, which are essential requirements for surgeries. Moreover, the growing incidence of HAIs owing to lack of precaution and sanitation is another factor expected to further drive the market growth. Moreover, a growing number of chronic diseases including cardiovascular diseases and diabetes are expected to have a positive impact on market growth.  Get the Sample Pages of Report for More Understanding@ https://www.precedenceresearch.com/sample/1014  Healthcare products with improved performance, infection inhibition and effectiveness are driving the demand of medical disposables across the globe. Need for disposable devices are growing in emergent nations, as these countries are updating their healthcare infrastructure. A growing number of hospital admissions due to the COVID-19 outbreak across the globe have boosted the demand for medical disposables extensively. The WHO appealed to government and industries to increase the production of personal protective equipment such as medical masks, aprons, gowns, goggles, respirators, and face shields by 40% to fulfill the demand increased by hospitals. Therefore, the outbreak of COVID-19 is expected to drive tremendous medical disposable market growth.  Regional Snapshots  In 2019, North America held the largest market share in terms of revenue. Factors such as increasing awareness about protection from infections, technological advancement in the healthcare industry, and government initiatives for healthcare management are responsible for driving the market growth in North America. U.S. Russia, Germany, China, Japan, France, Brazil, Italy, India, and UK will consists of the 10 prime markets for medical disposables, and together will account for around two-thirds of total global demand. Growth of the medical disposable market in the BRIC countries and other emergent nations is projected to surpass as the healthcare industry is modernized, extended, and modified to official infection prevention protocols in this region.  Thus, the rising number of patients infected by COVID-19 in Asia Pacific is expected to drive the market growth during near future. Asia Pacific medical disposable market is expected to exhibit the fastest CAGR during the forecast period. The major factors contributing to a positive impact on market growth in this region are the increasing prevalence of chronic diseases and the growing geriatric population. Additionally, India is one of the top 20 markets for medical devices across globe and is the 4rth largest markets in Asia Pacific. Different domestic players are greatly involved in engineering low-end products for international and local consumption. Nevertheless recently, numerous international corporations have established local existence in India.  In addition, key players present in this region are striving to come up with new products to strengthen their footprints in the competitive market, which is expected to propel the regional market growth in the next few years.  Related Reports  Disposable Endoscopes Market - https://www.precedenceresearch.com/disposable-endoscopes-marketEndoscopes Market - https://www.precedenceresearch.com/endoscopes-marketEndoscopy Devices Market - https://www.precedenceresearch.com/endoscopy-devices-market Report Highlights  Among products, disposable masks accounted for the largest market share, in 2019. This high revenue market share is attributed to rapidly spreading COVID-19 worldwide.Among raw materials, nonwoven material is projected to grow with the fastest CAGR during the forecast period due to growing number of hospital admissions.Based on end-use, the hospital segment is projected to emerge as fastest growing over the forecast period due to increasing number of patients for treatments of COVID-19 and surgeries in hospitals.Asia Pacific is projected to grow with the highest CAGR from 2020 to 2027 due to growing number of COVID-19 patients and surgeries.Key Players & Strategies  The prominent players operating in this market are Bayer AG, BD, Smith & Nephew PLC, Cardinal Health and Medline Industries, Inc. Market players are focusing on adopting new marketing strategies such as mergers, acquisitions, product development, and product launches to promote medical disposable market growth. For example, in 2019, 3M announced the acquisition of Acelity Inc. to strengthen wound management solutions and to gain a maximum customer base. In addition, Smith & Nephew PLC acquired Osiris Therapeutics, Inc., in 2019 in order to enhance its wound management product portfolio. These initiatives implemented by key market players are expected to drive the market growth in the next few years.  Market Segmentation  By Product  Wound Management ProductsDrug Delivery ProductsDiagnostic and Laboratory DisposablesDialysis DisposablesIncontinence ProductsRespiratory SuppliesSterilization SuppliesNon-woven DisposablesDisposable MasksDisposable Eye GearDisposable GlovesHand SanitizersGel SanitizersFoam SanitizersLiquid SanitizersOther SanitizersOthersBy Raw Material   Plastic ResinsNonwoven MaterialRubberPaper and PaperboardMetalsGlassOthersBy End-use  HospitalsHome HealthcareOutpatient/Primary Care FacilitiesOthersBy Geography  North America U.S.CanadaEurope U.K.GermanyAsia Pacific ChinaJapanLatin America BrazilMexicoMiddle East & Africa South AfricaSaudi ArabiaGet Customization on this Research Report@ https://www.precedenceresearch.com/customization/1014  Buy this Premium Research Report, Ask Here@ https://www.precedenceresearch.com/checkout/1014  You can place an order or ask any questions, please feel free to contact at sales@precedenceresearch.com | +1 774 402 6168  About Us  Precedence Research is a worldwide market research and consulting organization. We give unmatched nature of offering to our customers present all around the globe across industry verticals. Precedence Research has expertise in giving deep-dive market insight along with market intelligence to our customers spread crosswise over various undertakings. We are obliged to serve our different client base present over the enterprises of medicinal services, healthcare, innovation, next-gen technologies, semi-conductors, chemicals, automotive, and aerospace & defense, among different ventures present globally.  For Latest Update Follow Us:  https://www.linkedin.com/company/precedence-research/  

, <br>GlobeNewswire

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