Asia-Pacific Hospital Supplies Market is expected to witness a CAGR of 9.7% during the forecast period.
The COVID-19 pandemic is expected to have a significant impact on the market. For instance, according to an article published by the British Medical Journal, in June 2020, titled “COVID-19: Indian healthcare workers need adequate PPE”, the safety measures and guidelines issued by the government to use personal protective equipment (PPE) kits and masks to avoid the spread of coronavirus has increased the demand of these items among hospitals, laboratory and primary health care/community settings. In addition, as per the same source, about 0.5 million personal protective equipment (PPE) kits were supplied to various government hospitals by the central government. The rising spread of coronavirus has increased the demand for disposable items in hospitals. Additionally, news published by Down to Earth, in December 2021, titled “COVID-19: Where does India stand on syringe shortage?”, about 750 million syringes were produced by the Anhui Tiankang Medical (ATM), a China-based medical instrument company, to vaccinate two billion people in 2022. Also, as per the same source, Hindustan Syringes and Medical Devices have ramped up the production of assorted syringes from three billion to four billion by March 2022. Thus, the increasing production of syringes and growing demand for personal protective equipment kits have positively impacted the hospital supplies market during a pandemic. Moreover, the tremendous pressure on the hospitals to provide safe and effective services to non-COVID-19 patients is expected to create demand for hospital supply products that are used in hospital settings. Thus, the factors mentioned above are expected to have a considerable impact on the hospital supply market.
Certain factors that are attributed to the market growth are the increasing incidences of communal diseases, growing public awareness about hospital-acquired infections, and the high demand for hospital supplies in developing countries in the region.
The rising incidences of communicable diseases and growing awareness about hospital-acquired infections are the factors driving the market growth. For instance, in India, the Hospital Infection Society creates awareness and deals with healthcare-associated infections across the 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, with the objective 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 the government authorities and hospitals across the world to enhance the 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 growth over the forecast period.
In addition, the increasing number of medical devices imported from different countries is expected to drive the demand for hospital supplies, thereby propelling the market growth. For instance, according to the data published by the India Brand Equity Foundation, in July 2022, the value of India’s medical equipment import has Rs. 4,569 crores (USD 572.07 million) in 2016-17 to Rs. 40,649 crores (USD 5.08 billion) in 2021-22. Thus, the rising import activities in the region is expected to increase the hospital supplies, which in turn is anticipated to propel the market growth over the forecast period.
However, the stringent regulatory framework and the emergence of home care services are some of the factors that are likely to hinder the market growth over the forecast period.
The disposable hospital supplies are one-time use products, such as consumables, medical apparatus, and disposable devices, which are consumed in large figures across all hospitals. These products, such as suction catheters, bandages and wraps, exam gowns, surgical sponges, face masks, hypodermic needles, gloves, and others, are in continuous use by all hospital professionals in any domain from the cleaning to the surgical theatres, as well as administrative departments in some cases.
The rising number of infectious diseases is expected to drive market growth over the forecast period. For instance, according to the data published by the World Health Organization, as of August 2022, 166,969 number of new cases of COVID-19 were reported by China in the past seven days, followed by Japan at 1,335,047, Malaysia at 26,915, Singapore at 30,855, and Vietnam 18,999.
Additionally, the increasing number of surgeries in the region is likely to increase the demand for surgical masks, gloves, and other disposable items used during surgery, which in turn is anticipated to increase the demand for hospital supplies, thereby propelling the market growth. For instance, as per a September 2020 published article, titled 'Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage', an estimated 5,000 surgeries are required to meet the surgical burden of diseases of 100,000 people in low- and middle-income countries (LMICs).
Furthermore, according to the data published by the India Brand Equity Foundation, in July 2022, medical device imports in India increased by a record 41% to Rs. 63,200 crores (US$ 7.91 billion) in 2021-22 from Rs. 44,708 crores (US$ 5.59 billion) in 2020-21. The rising demand for disposable hospital supplies has therefore led to increased adoption, thereby expected to drive the segment growth. Also, as per the data published by the World Health Organization, as of August 2022, 19,226,874 surgical masks, 4,697,960 pairs of gloves, and 1,083,099 medical gloves were shipped in Western Pacific Region. Similarly, as per the news published in May 2020, the Indian Government has ordered 2.22 crore of personal protective equipment (PPE), of which 1.43 crore will be made by domestic firms and the rest is imported from other countries. This is further expected to drive the growth of this segment in the hospital supplies market.
Therefore, the due to aforementioned factors the studied market is expected to increase over the forecast period.
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The COVID-19 pandemic is expected to have a significant impact on the market. For instance, according to an article published by the British Medical Journal, in June 2020, titled “COVID-19: Indian healthcare workers need adequate PPE”, the safety measures and guidelines issued by the government to use personal protective equipment (PPE) kits and masks to avoid the spread of coronavirus has increased the demand of these items among hospitals, laboratory and primary health care/community settings. In addition, as per the same source, about 0.5 million personal protective equipment (PPE) kits were supplied to various government hospitals by the central government. The rising spread of coronavirus has increased the demand for disposable items in hospitals. Additionally, news published by Down to Earth, in December 2021, titled “COVID-19: Where does India stand on syringe shortage?”, about 750 million syringes were produced by the Anhui Tiankang Medical (ATM), a China-based medical instrument company, to vaccinate two billion people in 2022. Also, as per the same source, Hindustan Syringes and Medical Devices have ramped up the production of assorted syringes from three billion to four billion by March 2022. Thus, the increasing production of syringes and growing demand for personal protective equipment kits have positively impacted the hospital supplies market during a pandemic. Moreover, the tremendous pressure on the hospitals to provide safe and effective services to non-COVID-19 patients is expected to create demand for hospital supply products that are used in hospital settings. Thus, the factors mentioned above are expected to have a considerable impact on the hospital supply market.
Certain factors that are attributed to the market growth are the increasing incidences of communal diseases, growing public awareness about hospital-acquired infections, and the high demand for hospital supplies in developing countries in the region.
The rising incidences of communicable diseases and growing awareness about hospital-acquired infections are the factors driving the market growth. For instance, in India, the Hospital Infection Society creates awareness and deals with healthcare-associated infections across the 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, with the objective 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 the government authorities and hospitals across the world to enhance the 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 growth over the forecast period.
In addition, the increasing number of medical devices imported from different countries is expected to drive the demand for hospital supplies, thereby propelling the market growth. For instance, according to the data published by the India Brand Equity Foundation, in July 2022, the value of India’s medical equipment import has Rs. 4,569 crores (USD 572.07 million) in 2016-17 to Rs. 40,649 crores (USD 5.08 billion) in 2021-22. Thus, the rising import activities in the region is expected to increase the hospital supplies, which in turn is anticipated to propel the market growth over the forecast period.
However, the stringent regulatory framework and the emergence of home care services are some of the factors that are likely to hinder the market growth over the forecast period.
APAC Hospital Supplies Market Trends
Disposable Hospital Supplies Segment Expects to Register a High CAGR During the Forecast Period
The disposable hospital supplies segment is expected to witness significant growth in the Asia-Pacific hospital supplies market owing to the factors such as the rising prevalence of communicable infections such as COVID-19, tuberculosis, and others.The disposable hospital supplies are one-time use products, such as consumables, medical apparatus, and disposable devices, which are consumed in large figures across all hospitals. These products, such as suction catheters, bandages and wraps, exam gowns, surgical sponges, face masks, hypodermic needles, gloves, and others, are in continuous use by all hospital professionals in any domain from the cleaning to the surgical theatres, as well as administrative departments in some cases.
The rising number of infectious diseases is expected to drive market growth over the forecast period. For instance, according to the data published by the World Health Organization, as of August 2022, 166,969 number of new cases of COVID-19 were reported by China in the past seven days, followed by Japan at 1,335,047, Malaysia at 26,915, Singapore at 30,855, and Vietnam 18,999.
Additionally, the increasing number of surgeries in the region is likely to increase the demand for surgical masks, gloves, and other disposable items used during surgery, which in turn is anticipated to increase the demand for hospital supplies, thereby propelling the market growth. For instance, as per a September 2020 published article, titled 'Estimation of the National Surgical Needs in India by Enumerating the Surgical Procedures in an Urban Community Under Universal Health Coverage', an estimated 5,000 surgeries are required to meet the surgical burden of diseases of 100,000 people in low- and middle-income countries (LMICs).
Furthermore, according to the data published by the India Brand Equity Foundation, in July 2022, medical device imports in India increased by a record 41% to Rs. 63,200 crores (US$ 7.91 billion) in 2021-22 from Rs. 44,708 crores (US$ 5.59 billion) in 2020-21. The rising demand for disposable hospital supplies has therefore led to increased adoption, thereby expected to drive the segment growth. Also, as per the data published by the World Health Organization, as of August 2022, 19,226,874 surgical masks, 4,697,960 pairs of gloves, and 1,083,099 medical gloves were shipped in Western Pacific Region. Similarly, as per the news published in May 2020, the Indian Government has ordered 2.22 crore of personal protective equipment (PPE), of which 1.43 crore will be made by domestic firms and the rest is imported from other countries. This is further expected to drive the growth of this segment in the hospital supplies market.
Therefore, the due to aforementioned factors the studied market is expected to increase over the forecast period.
APAC Hospital Supplies Market Competitor Analysis
The Asia-Pacific Hospital Supplies Market is highly fragmented with the presence of a large number of players in the market. Most of the countries in Asia-pacific are developing countries that have a high number of people with unattended diseases and injuries which could be treated in hospitals. As a result, these countries have a high potential for hospital supplies and hence, are highly lucrative for global players to enter the market. Hence, this region enjoys the presence of most of the global players in the hospital supplies market. Moreover, there are also some regional players that have also established their presence in the region. The Asia-Pacific Hospital Supplies Market is segmented by Product (Patient Examination Devices, Operating Room Equipment, Mobility Aids and Transportation Equipment, Sterilization and Disinfectant Products, Disposable Hospital Supplies, Syringes and Needles, and Other Products) and Geography. The report offers the value (in USD million) for the above segments.Additional benefits of purchasing the report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value in USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 3M Healthcare
- B. Braun Melsungen AG
- Baxter International
- Becton Dickinson and Company
- Boston Scientific Corporation
- Cardinal Health
- Medtronic Plc
- GE Healthcare
- Johnson & Johnson
- Thermo Fisher Scientific
Methodology
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