Hospital Equipment And Supplies Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Hospital Equipment And Supplies Market size was valued at USD 39.21 Billion in 2022 and is projected to reach USD 110.63 Billion by 2030, growing at a CAGR of 12.21% from 2023 to 2030.
Hospital Equipment And Supplies Market Overview:
The medical equipment market includes various segments such as orthopedic implants and prostheses, cardiovascular devices, neurovascular devices, general equipment and supplies, patient monitoring equipment, ophthalmic equipment, in vitro diagnostic equipment, and others. Hospital equipment and supplies refer to medical equipment used in hospitals.
The hospital equipment and supplies market is growing at a significant rate due to increasing number of hospitals, aging population, and growing awareness of hospital acquired infections (HAIs). The hospital equipment and supplies market can be segmented into different categories. For example, mobility aids and transportation equipment, operating room equipment, sterilization and disinfection equipment, disposable hospital supplies, syringes and needles, and patient examination devices.
The disposable hospital supplies segment and the syringes and needles segment are the largest segments in the global hospital equipment and supplies market. North America dominates the global market for hospital equipment and supplies due to aging population and increasing prevalence of lifestyle-related diseases such as cardiovascular disease, diabetes, hypertension and obesity.
Following Europe, Asia is expected to experience high growth rates in the coming years in the hospital equipment and consumables market. This is due to the region's large population base and high unmet medical needs. Countries such as Brazil, Russia, China, and India are expected to be the fastest-growing markets for hospital equipment and consumables.
Some of the major driving forces for the hospital equipment and supplies market in emerging countries are high economic growth, changing lifestyles, rising standards of healthcare and increasing government initiatives in this sector.
Factors such as increasing number of hospitals, increasing prevalence of lifestyle-related diseases and aging population are driving the global hospital equipment and consumables market. In addition, the spread of telemedicine and improvement of medical facilities are driving the global hospital equipment and supplies market.
However, growing popularity of home care services, decline in private health insurance and stringent government-led regulations are restraining the hospital equipment and consumables market growth. Also, the introduction of personalized medicine concept and other diagnostic options available in the market is limiting the market for hospital equipment and supplies.
Emerging markets have great growth potential for the hospital equipment and consumables market. Some of the latest trends observed in the hospital equipment and supplies market include companies involved in mergers and acquisitions and geographic expansion.
Hospital Equipment And Supplies Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Hospital Equipment And Supplies Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- In September 2021, Baxter acquired Healom, an American medical device group. Baxter International, a medical technology group, has agreed to acquire competing equipment company Hillrom. Hillrom, which makes medical equipment ranging from low-tech hospital chairs to more sophisticated wearable electrocardiographs and operating tables, and Baxter, which focuses on critical care, nutrition and surgical products, offer mega deals in the medical device and healthcare industries.
- In August 2020, Johnson & Johnson announced that it had entered into a definitive agreement to acquire Momenta Pharmaceuticals, Inc. The company discovers and develops new treatments for immune-mediated diseases in an all-cash transaction. The acquisition provides an opportunity for Johnson & Johnson's Janssen pharmaceutical company to expand its leadership in immune-mediated diseases and expand into autoantibody-based diseases to drive further growth.
Major Market Segments Covered in Hospital Equipment And Supplies Market Industry Research:
Market Key Players:
GE Healthcare, Covidien, Thermo Fischer and Scientific, Boston Scientific Corporation, B. Braun Melsungen AG, 3M Health Care, Becton Dickinson and Company, Cardinal Heath, Kimberly-Clark Corporation, Advanced Sterilization Products Services Inc., Molnlycke Health Care AB, Steris Corporation, Stryker Corporation, Terumo Corporation and Getinge AB, Johnson & Johnson, Baxter International, And Others.
- Sterilization And Disinfectant Equipment
- Disposable Hospital Supplies Patient Examination Devices
- Syringes And Needles
By Distribution Channels:
- Public Hospitals
- Private-Profit Hospitals
- Private-Non Profit Hospitals
By region, the North American market accounted for the largest market share in 2020 and is expected to grow at a significant CAGR during the evaluation period. Regional growth is primarily attributed to the presence of an established healthcare industry coupled with a growing geriatric population and the presence of key market players such as GE Healthcare (US) and Covidien (US).
Market growth in the Asia-Pacific region is expected to rapid grow. The rapid growth of China's hospital industry is due to the steady progress of medical reform and the continuous increase in demand stimulation. The aging population base growing at an unprecedented rate in the Asia Pacific region, strong government initiatives and ongoing projects will bolster the market in the APAC region..
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
increased government-funded investments and initiatives in healthcare projects; growing demand for infection control measures to contain HAIs; increase in surgical procedures; growing demand for medical devices; There is an increasing number of contracts between companies to manufacture cost-effective medical devices. Increasing number of ICU beds in hospitals and surgical centers Increasing incident and trauma cases
Increased prevalence of chronic and infectious diseases and high number of injury cases are driving the demand for medical supplies products. The elderly population is also expanding worldwide. The vast geriatric population base and high prevalence and incidence of related diseases drive the growth of the market. Market players and researchers are focusing more on advancing medical supplies products, collaborations between companies are launching cutting-edge products and newer technologies are driving market growth. Government investment in disease and research research further fuels the growth rate of the market.
Emerging economies such as India, China, and Brazil offer lucrative potential in the market due to their vast population bases, rising rates of infectious and chronic diseases, and improved healthcare infrastructure and spending. Compared to North America and Europe, improved medical infrastructure and affordable treatment and diagnosis are stimulating medical tourism in the region.
Hospital Equipment And Supplies Market report scope:
Crucial Points from this Hospital Equipment And Supplies Market Report
- Estimate Hospital Equipment And Supplies Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Hospital Equipment And Supplies Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
- What is the CAGR of Hospital Equipment And Supplies Market?
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- What are the key applications of Hospital Equipment And Supplies Market?
- Who are the key players in Hospital Equipment And Supplies Market?