The
medical
supplies industry consists of companies engaged in the
manufacturing and distribution of basic medical products such as
surgical knives, forceps, gloves, syringes, bandages and dressings,
medical laboratory equipment, stethoscopes, dental drills, x-ray
films, veterinarian instruments, and other related supplies. The
medical supplies excludes manufacturing and distribution of high-tech
medical equipment and retail sales of drugs. Several strategies are
adopted by the vendors of this industry to optimize profits. The
companies with equipment supplies such as interventional cardiology
devices and dental devices require extensive capital expenditures and
revenue generation for their existence in the market. Their products
are high-tech and large amount is spend on research and development
activities to maintain a steady rollout of new offerings. However,
profitability of the companies that supply disposable items such as
syringes and surgical gloves is dependent on procedure volume,
particularly in hospitals and therefore, does not require substantial
amounts of capital expenditures. Therefore, availability of
technologically advanced as well as more effective products and rise
in investment in healthcare sector is fueling the market growth.
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Medical
Supplies Market Drivers
Increasing
volume of hospitals, surgical, and outpatient procedures, and
upgradation and enforcement of infection prevention standards is
expected to increase the adoption of medical supplies over the
forecast period, thereby driving growth of medical supplies market.
For instance, in 2012, Kuwait Ministry of Health and Public Works
announced a grant of US$ 4.4 billion to replace and expand nine
operating hospitals, which is expected to provide additional 5,400
beds, 150 operating rooms, and 500 outpatient clinics. This is
expected to create a conducive environment for growth of the market.
Increasing
number of patients who require long-term therapy or surgery, drug
delivery, and related products is expected to increase the demand for
medical supplies, in turn driving growth of the market. The usage of
safety-enhanced devices for the minimally invasive delivery of
parenteral medicines, IV solutions, and inhalation therapies will
lead to the growth of the market. The rising prevalence of chronic
conditions such as cancer, heart disorders, neurological disorders,
and gynecological disorders will lead to an increase in the number of
hospitalizations, thereby increasing the demand for medical supplies.
Medical
Supplies Market - Regional Analysis
On
the basis of region, global medical supplies market is segmented into
North America, Latin America, Europe, Asia Pacific, Middle East, and
Africa. Demand for medical supplies in the Western Europe, U.S.,
Japan, and most other developed countries will increase at a slow
pace, as their medical supplies are already well established and have
adopted stringent infection prevention standards to meet the health
care needs of people. By contrast, growth in the BRIC (Brazil,
Russia, India, and China) countries and many other emerging economies
expected to spur as health care sectors are modernized, expanding,
and adapting to formal infection prevention protocols.
Medical
Supplies Market – Competitive Landscape
Some
of the key players operating in the medical supplies market include,
1.
B. Braun Melsungen AG
2.
Becton
3.
Dickinson and Company
4.
Cardinal Health, Inc.
5.
Halyard Health, Inc.
6.
Johnson & Johnson
7.
Thermo Fisher Scientific Inc.
8.
Boston Scientific Corporation
9.
Baxter International Inc.
10.
3M Company
among
others....
Medical
Supplies Market – Taxonomy
By
Product Type:
Diagnostic
Supplies, Dialysis Consumables, Inhalation Products, Wound Care
Consumables, Radiology Consumables, Infection Control, Supplies,
Infusion Products, Intubation & Ventilation Supplies, Personal
Protection Equipment (PPE), Hypodermic Products, Sterilization
Consumables, Other Medical Supplies
By
Application :
Urology,
Wound Care, Radiology, Anesthesia, Sterilization, Cardiology,
Ophthalmology, Other Applications
By
End User:
Hospitals,
Clinics, Nursing Homes, Ambulatory Surgical Centers, Other End Users
By
Region
North
America, Latin America, Europe, Asia Pacific, Middle East, Africa
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