Global Hospital Supplies Market Size (2024 - 2029)

The hospital supplies market is projected to experience growth over the forecast period, driven by factors such as increased incidences of communicable and chronic diseases and heightened public awareness of hospital-acquired infections. The COVID-19 pandemic significantly influenced the market's expansion, highlighting the importance of medical supplies like PPEs and disinfectants. Additionally, continuous product innovations and strategic initiatives by key market players are expected to further propel market growth. However, challenges such as stringent regulatory requirements and the rise of homecare services may impede the market's progress.

Market Size of Global Hospital Supplies Industry

hospital supplies market
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

Global Hospital Supplies Market 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 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
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America
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Global Hospital Supplies Market Size Summary

The hospital supplies market is poised for significant growth, driven by various factors including the increased incidence of communicable and chronic diseases, heightened public awareness of hospital-acquired infections, and the ongoing demand for sterilization and disinfectant products. The COVID-19 pandemic has notably accelerated market expansion by disrupting supply chains and necessitating enhanced infection control measures. This has led to a surge in demand for personal protective equipment (PPE), sanitizers, and disinfectants, as hospitals adapted to new challenges in patient care and safety. The market is also witnessing continuous product innovations and strategic partnerships among key players, further propelling its growth trajectory.

North America is expected to dominate the hospital supplies market, supported by a focus on cost-effective and innovative healthcare solutions, alongside a rise in hospital admissions and surgical procedures. The region's market growth is bolstered by the increasing prevalence of chronic diseases and the need for advanced medical supplies to manage hospital-acquired infections. Major companies are actively developing and launching new products to enhance their market presence, while investments in manufacturing and supply chain improvements are expected to further drive market expansion. Despite the competitive landscape, characterized by a mix of large and small players, the market's growth is anticipated to continue, fueled by ongoing advancements and strategic collaborations.

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Global Hospital Supplies Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Incidences of Communicable and Chronic Diseases

      2. 1.2.2 Growing Public Awareness about Hospital Acquired Infections

      3. 1.2.3 High Demand for Hospital Supplies in Developing Countries

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulatory Framework

      2. 1.3.2 Emergence of Home Care Services

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product

      1. 2.1.1 Patient Examination Devices

      2. 2.1.2 Operating Room Equipment

      3. 2.1.3 Mobility Aids and Transportation Equipment

      4. 2.1.4 Sterilization and Disinfectant Equipment

      5. 2.1.5 Disposable Hospital Supplies

      6. 2.1.6 Syringes and Needles

      7. 2.1.7 Other Products

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United States

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Italy

        5. 2.2.2.5 Spain

        6. 2.2.2.6 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 China

        2. 2.2.3.2 Japan

        3. 2.2.3.3 India

        4. 2.2.3.4 Australia

        5. 2.2.3.5 South Korea

        6. 2.2.3.6 Rest of Asia-Pacific

      4. 2.2.4 Middle-East and Africa

        1. 2.2.4.1 GCC

        2. 2.2.4.2 South Africa

        3. 2.2.4.3 Rest of Middle-East and Africa

      5. 2.2.5 South America

        1. 2.2.5.1 Brazil

        2. 2.2.5.2 Argentina

        3. 2.2.5.3 Rest of South America

Global Hospital Supplies Market Size FAQs

The Global Hospital Supplies Market is projected to register a CAGR of 11.5% during the forecast period (2024-2029)

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.

Hospital Supplies Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)