Hospital Supplies Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 11.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Hospital Supplies Market Analysis
The hospital supplies market is expected to grow at a CAGR of 11.5% over the forecast period.
The COVID-19 pandemic has had a significant impact on the market growth for hospital supplies. For instance, as per the study titled "COVID-19: Implications for Supply Chain Management" published in Frontiers of Health Services Management in the Fall of 2020, the COVID-19 epidemic disrupted both the world economy and health. The coronavirus particularly affected medical device supply chains to hospitals and other healthcare organizations. Thus, such studies highlight the substantial impact of the pandemic on the market in its initial phase. However, with the emergence of newer variants of the virus that are still being treated, hospital supply chains are working to enable the delivery of patient care in the event of a recurrence or future pandemic. A research article titled "What COVID-19 has changed for hospital supply chains" published by the Wexter Medical Center, the Ohio State University in May 2020 stated that the hospitals rallied their resources to get the PPEs and a single warehouse for all essential stock, which greatly improved responsibility, visibility, and security of the hospital devices. The COVID-19 epidemic in Ohio led to a new, improved method for monitoring and securing all medical equipment within hospitals.
Likewise, an article titled "The role of disinfectants and sanitizers during COVID-19 pandemic: advantages and deleterious effects on humans and the environment" published in the National Library of Medicine in May 2021, mentioned that the characteristics of the SARS-CoV-2 virus, the qualities of the disinfectants or sanitizers, and the environment where the virus is present or where disinfection is to be done all play a role in how successfully the virus can be eradicated. Also, the abovementioned source stated that sanitizers and disinfectants were crucial preventative measures against coronavirus infection, and thus these supplies witnessed a notable demand throughout the pandemic phase. Thus, these aforementioned factors demonstrate that the COVID-19 pandemic had a considerable impact on the market's growth and is expected to continue over the coming few years.
The factors, such as increased incidences of communicable and chronic diseases coupled with the growing public awareness about hospital-acquired infections, are contributing to the overall growth of the hospital supplies market.
Furthermore, the burden of communicable (infectious) diseases is constantly growing worldwide. Since clinical diagnostic tests represent one of the most accurate methods to identify and characterize microorganisms, so it is expected to create demand for hospital supplies for diagnosis purposes. The World Health Organization (WHO) tuberculosis (TB) data updated in September 2021 shows that globally, 10 million cases of tuberculosis (TB) were estimated in the previous year, among which 1.1 million children, 3.3 million women, and 5.6 million males were affected. TB exists in all nations and among all age groups.
Another infectious disease is influenza, which can cause severe sickness or death, mainly in high-risk patients. The article titled "The Number of Flu Cases Worldwide: A Global Perspective" published in February 2022 mentioned that worldwide, seasonal influenza is thought to affect nearly 1 billion individuals each year. Also, nearly 3-5 million of those 1 billion suffer from severe cases of the flu each year. Thus, an increase in the incidence of such infectious diseases is expected to create demand for disposable hospital supplies, driving the demand for hospital supplies.
Moreover, continuous product launches and developments coupled with strategic activities by the major players in the market are anticipated to drive market growth. For instance, in April 2022, TytoCare, one of the global market players for hospital supply units, signed a partnership with MemorialCare, an innovative non-profit health system. The integration of the TytoCare solution into MemorialCare's current telehealth appointments enables physicians to provide patients with enhanced remote care with in-depth physical examinations. These product launches are anticipated to drive market growth over the forecast period.
Therefore, the market for hospital supplies is anticipated to witness growth over the analysis period owing to the factors stated above. However, stringent regulatory frameworks and the emergence of homecare services are the factors that are predicted to hinder the market's growth during the analysis period.
Hospital Supplies Market Trends
This section covers the major market trends shaping the Hospital Supplies Market according to our research experts:
Sterilization and Disinfectant Equipment Segment Holds the Major Share in the Market Studied
For hospitals and patients in hospitals, cleaning, disinfection, and sterilization play a significant role. Currently, across the world, hospitals are notably spending on supplies to maintain the cleanliness of equipment (such as prevention of healthcare-associated infections), surgical instruments, and staff hygiene. To avoid infections in hospital settings and home care as well, sterilization and disinfectant products are witnessing high demand among end users. This is anticipated to drive the segment's growth over the forecast period.
Several organizations are being formed at the national level and in the association between several countries, which are dedicated to the advancement of infection control practices to reduce healthcare-associated infections (HAIs) and improve consumables and equipment quality. For instance, in India, the Hospital Infection Society creates awareness and deals with healthcare-associated infections across hospitals in the country. Additionally, in April 2022, the Infection Prevention and Control program using the ECHO (Extension for Community Healthcare Outcomes) model was introduced in Maharashtra and West Bengal, which joined in the mission as partner states, to improve the existing knowledge base for nurses, along with training them to improve their overall scope of information, particularly in the areas of infection control and prevention. Additionally, the outbreak of COVID-19 has alerted government authorities and hospitals across the world to enhance sterilization practices in hospitals and other healthcare facilities to make sure that the transmission of the virus is controlled. Thus, such awareness and developments are anticipated to drive the segment's growth over the forecast period.
Moreover, recent developments by major companies and other public and private organizations are increasing the demand for sterilization and disinfectant supply products. For example, in September 2021, STERIS, a life science company, launched the next generation of integrated Vaporized Hydrogen Peroxide (VHP) bio-decontamination systems for customers who want to achieve up to a 6-log bioburden reduction in GMP (good manufacturing practice) pharmaceutical, medical device, and research environments. In addition, in August 2021, Hong Kong-based Aurabeat launched a Food and Drug Administration (FDA) approved anti-COVID class 2 medical device for SARS-CoV-2 disinfection in India. Thus, such advances are expected to drive segment growth.
Thus, all the aforementioned factors are expected to boost the segment's growth over the forecast period.
North America Dominated the Overall Market and is Expected to Retain its Dominance
North America is expected to be the dominant region in the market studied. The factors contributing to the high market share of North America are the consistent focus on the cost-effective and innovative procedures adopted in the United States, which has shown an increase in the hospital supplies market.
Additionally, growing communal diseases and hospital-acquired infections are expected to drive market growth. As per the article "Healthcare-associated urinary tract infections in urology" published in the National Library of Medicine in August 2021, UTIs are a leading cause of nosocomial infections worldwide and have been estimated to cause approximately 30 % of HAIs in the acute care setting in the United States. Of those HAIs, approximately 75 % are associated with an indwelling urinary catheter, which requires sterilization and disinfection. Therefore, this is anticipated to boost the growth of the market studied over the analysis period in North America. Furthermore, the major factors driving the hospital supplies market's growth are rising hospital stays of patients and an increase in the cases of surgical site infections. Additionally, increasing surgical procedures and high growth in the country's pharmaceutical and biotechnology industries are also driving the market significantly.
Moreover, the rise in chronic diseases, such as cancer, cardiovascular diseases, and others, requires extended hospital stays and surgeries. The data updated by the American Hospital Association (AHA) in its "Fast Facts on U.S. Hospitals, 2022" report shows that the number of admissions in community hospitals was 31,393,318 in 2020 in the United States. Thus, with the increasing number of hospital admissions, the rate of hospital-acquired infections is also expected to rise, which will result in the market's growth in the future.
Additionally, market players are developing advanced products to enhance their market presence. For instance, in May 2022, Sonoma Pharmaceuticals, Inc., a global healthcare company developing and producing patented Microcyn technology-based stabilized hypochlorous acid (HOCl) products for a wide range of applications in disinfectant use, and its partner, the MicroSafe Group DMCC, received EPA (Environmental Protection Agency) approval for Nanocyn as a hospital-grade disinfectant in the United States.
In addition, the press release by the United States Department of Health and Human Services (HHS) published in February 2022 stated that HHS has invested USD 250 million in the United States-based manufacturing of personal protective equipment (PPE) and USD 950 million in manufacturing the supplies and equipment needed for vaccines, therapeutics, and diagnostic tests. These factors are expected to boost the market growth in the country, contributing to the overall growth of the market studied.
Therefore, owing to the factors mentioned above, the hospital supplies market is anticipated to grow in North America.
Hospital Supplies Industry Overview
The hospital supplies market is largely fragmented, with many smaller players and a handful of larger companies. Increased innovation and a rise in investment for various public and private organizations are expected to intensify industry rivalry across the world. They are also collaborating with other players to develop and promote their products and thus gain recognition in the market. Some of the market players are Boston Scientific Corporation, Cardinal Health Inc., Medtronic PLC, B Braun Melsugen AG, and 3M, some major players, among others.
Hospital Supplies Market Leaders
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Boston Scientific Corporation
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Cardinal Health Inc.
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Medtronic PLC
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B Braun Melsugen AG
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3M
*Disclaimer: Major Players sorted in no particular order
Hospital Supplies Market News
- In March 2022, Datasea Inc. launched the Ultrasonic Sound Sterilization and Antivirus Equipment targeting different application scenarios and planned to enter the United States market with acoustic intelligence products. The Ultrasonic Sound Sterilization and Antivirus Equipment feature innovative acoustic intelligence-powered disinfection that has proven to be able to purify the air and reduce bacteria and viruses such as COVID-19 and H1N1 by over 99.9% through research conducted by third-party laboratories.
- In March 2022, Aesculap, Inc. launched its AESCULAP Aicon Sterile Container System. The new container has features that help streamline processes and reduce the possibility of wet sets. Aesculap will debut the new container at the Association of periOperative Registered Nurses (AORN) Global Surgical Conference and Expo, March 19-23, in Los Angeles.
Hospital Supplies Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Incidences of Communicable and Chronic Diseases
- 4.2.2 Growing Public Awareness about Hospital Acquired Infections
- 4.2.3 High Demand for Hospital Supplies in Developing Countries
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4.3 Market Restraints
- 4.3.1 Stringent Regulatory Framework
- 4.3.2 Emergence of Home Care Services
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Patient Examination Devices
- 5.1.2 Operating Room Equipment
- 5.1.3 Mobility Aids and Transportation Equipment
- 5.1.4 Sterilization and Disinfectant Equipment
- 5.1.5 Disposable Hospital Supplies
- 5.1.6 Syringes and Needles
- 5.1.7 Other Products
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5.2 Geography
- 5.2.1 North America
- 5.2.1.1 United States
- 5.2.1.2 Canada
- 5.2.1.3 Mexico
- 5.2.2 Europe
- 5.2.2.1 Germany
- 5.2.2.2 United Kingdom
- 5.2.2.3 France
- 5.2.2.4 Italy
- 5.2.2.5 Spain
- 5.2.2.6 Rest of Europe
- 5.2.3 Asia-Pacific
- 5.2.3.1 China
- 5.2.3.2 Japan
- 5.2.3.3 India
- 5.2.3.4 Australia
- 5.2.3.5 South Korea
- 5.2.3.6 Rest of Asia-Pacific
- 5.2.4 Middle-East and Africa
- 5.2.4.1 GCC
- 5.2.4.2 South Africa
- 5.2.4.3 Rest of Middle-East and Africa
- 5.2.5 South America
- 5.2.5.1 Brazil
- 5.2.5.2 Argentina
- 5.2.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 3M
- 6.1.2 B Braun Melsungen AG
- 6.1.3 Baxter International Inc.
- 6.1.4 Becton, Dickinson and Company
- 6.1.5 Boston Scientific Corporation
- 6.1.6 Cardinal Health Inc.
- 6.1.7 Medtronic PLC
- 6.1.8 GE Healthcare
- 6.1.9 Johnson & Johnson
- 6.1.10 Thermo Fisher Scientific
- 6.1.11 Danaher Corporation
- 6.1.12 Eurofins
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityHospital Supplies Industry Segmentation
As per the scope of the report, hospital supplies include every medical utility product that serves both the patient and medical professional with hospital infrastructure and enhances the network and transportation between hospitals. These include hospital equipment, patient aids, mobility equipment, and sterilization disposable hospital supplies. The hospital supplies market is segmented by Product (Patient Examination Devices, Operating Room Equipment, Mobility Aids and Transportation Equipment, Sterilization and Disinfectant Equipment, Disposable Hospital Supplies, Syringes and Needles, and Other Types) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Product | Patient Examination Devices | |
| Operating Room Equipment | ||
| Mobility Aids and Transportation Equipment | ||
| Sterilization and Disinfectant Equipment | ||
| Disposable Hospital Supplies | ||
| Syringes and Needles | ||
| Other Products | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Hospital Supplies Market Research FAQs
What is the current Global Hospital Supplies Market size?
The Global Hospital Supplies Market is projected to register a CAGR of 11.5% during the forecast period (2024-2029)
Who are the key players in Global Hospital Supplies Market?
Boston Scientific Corporation, Cardinal Health Inc., Medtronic PLC, B Braun Melsugen AG and 3M are the major companies operating in the Global Hospital Supplies Market.
Which is the fastest growing region in Global Hospital Supplies Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Hospital Supplies Market?
In 2024, the North America accounts for the largest market share in Global Hospital Supplies Market.
What years does this Global Hospital Supplies Market cover?
The report covers the Global Hospital Supplies Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Hospital Supplies Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Hospital Supplies Industry Report
Statistics for the 2024 Hospital Supplies market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Hospital Supplies analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
