Europe Hospital Supplies Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

The Europe hospital supplies market is expected to register a CAGR of 12.7% over the forecast period.

The outbreak of COVID-19 impacted the hospital supply market significantly. The demand for hospital supplies witnessed significant growth during the COVID-19 pandemic due to the increasing number of COVID-19 cases requiring continuous medical supplies. For instance, in February 2022, European Union (EU) funded an additional 180 oxygen concentrators, 2000 pulse oximeters, and other medical supplies to outpatient facilities in Georgian villages. The supplies were acquired as part of a significant EU-United Nations initiative to support rural healthcare facilities and lessen the effects of the COVID-19 outbreak in the nation. The program equipped village ambulatory units with telemedicine technology to increase access to healthcare. Such initiatives and funding by the European Union led to increased hospital supply adoption in European nations during the pandemic. However, the market gradually stabilized as COVID-19 cases declined, resulting in the return of normal demand level for the hospital supply; the market is expected to show a slight decline due to the over-purchase of hospital supply during the pandemic.

The propelling factors for the market's growth include the high demand for chronic disease, the rising geriatric population, and investment in healthcare infrastructure. For instance, according to the Organisation for Economic Co-operation and Development, August 2022, the estimated per capita healthcare expenditure in European countries such as Austria, Germany, Ireland, and Poland in 2021 were USD 5775.04 (EUR 5,488.2), USD 5785.88 (EUR 5,498.5), USD 5961.08 (EUR 5,665), and USD 4807.59 (EUR 4,568.8) respectively. Therefore, the high per capita expenditure on healthcare in European countries will lead to increased adoption of healthcare in European hospitals, thereby leading to the adoption of hospital supplies and driving market growth. Furthermore, the elderly population in both countries is expected to grow in the coming years, and this population is more prone to chronic diseases. For instance, according to the United Nations department of economics and social affairs report 2022, about 19% of the population in Europe was 65 years of age or older, making it the region with the highest percentage of older people in 2022. According to projections, one in every four people in Europe could be 65 or older by 2050. In addition, the fact that the geriatric population is more susceptible to acute and chronic diseases indicates that the increased geriatric population is also highly responsible for high hospital admission rates, thus pushing the demand in this market.

Europe has a strong healthcare system in terms of infrastructure, hospital beds, hospital supplies, equipment, etc., which has helped the overall market to account for the highest market share. Furthermore, a rise in a government project to fulfill the demand for hospital supplies is also expected to drive market growth. For instance, in January 2021, the European Union launched an imPURE project to produce medical supplies rapidly. The strategic goal of imPURE is to repurpose non-medical plastic processing industrial lines in Europe for the rapid production and broad distribution of Critical Medical Supplies (CRMs) to meet the urgent needs of societies for vital medical supplies and equipment. Therefore, the well-established infrastructure of the hospitals helps grow the European hospital supplies market.

Thus, the abovementioned factors are impacting the market growth of the Europe hospital supplies market. However, the emergence of home care services and stringent regulatory bodies are expected to restrain the market growth.

Europe Hospital Supplies Market Trends

The Operating Room Equipment Segment is Expected to Witness High Growth Over the Forecast Period

Operating rooms are designed for surgeons and surgical staff to perform surgical procedures using high-end equipment. With the growing immigration from African and other Mediterranean countries to European countries, surgical procedures have significantly increased, further demanding technological advancement in operating room equipment. For instance, National Center for Biotechnology Information, in 2021, estimated about a 47% increase in cesarean sections in Southern Europe by 2030. Therefore, several companies are looking toward developing state-of-the-art operating rooms, creating lucrative growth opportunities.

Rising initiatives from key market players, such as partnerships, are expected to rise in the adoption of operating room equipment, driving this segment's growth. For instance, in January 2022, Philips and the University Hospital Brandaburg an der Havel entered a 10-year strategic partnership to renew and expand the hospital’s diagnostic and therapeutic options by delivering advanced technology solutions. According to the agreement, Philips will provide the hospital with new, upgraded hybrid operating rooms and interventional suites. Such partnerships are anticipated to increase sales of operating room equipment in Europe, driving segment growth. Furthermore, in April 2022, Alcon introduced virtual reality surgical training for the surgeons practicing in operating rooms on Alcon Fidelis Virtual Reality (VR) Ophthalmic Surgical Simulator. This is expected to increase the adoption of virtual reality operating room equipment in Europe, driving this segment growth.

Thus, owing to the above factors, the operating room equipment segment is expected to show significant growth over the coming years.

Germany is Expected to Dominate the Europe Hospital Supplies Market Over the Forecast Period

The factors affecting the growth of hospital supplies in Germany include the increasing chronic diseases such as diabetes, cancer, and cardiovascular disease, the rise in the number of hospitals, technological advancements in healthcare, well-developed healthcare infrastructure, and the increase in partnerships with the World Health Organisation (WHO), among others. For instance, in January 2021, the German government partnered with the WHO to import medical supplies worth USD 3.84 million (EUR 3.65 million) to countries in the Western Balkan region. It includes 334 ventilators and 19,400 pulse oximeters and would equip health facilities to monitor and improve the health outcomes of COVID-19 patients, particularly in intensive care units. Such an initiative might have been expected to drive market growth due to the rise in the adoption of medical supplies in the country. Furthermore, according to the World Bank update, in January 2023, diabetes prevalence in Germany was reported at 6.9 % in 2021. Thus, with an increase in chronic diseases such as diabetes, hospital admission increase. Therefore, there is a rise in the need for hospital supplies, eventually driving the growth of the market.

Rising technological initiatives in the healthcare sector in Germany are also expected to drive market growth. Together with Matternet and UPS (United Parcel Service), hospitals in Germany will be able to deliver medical laboratory supplies by drone. The drones will fly two routes and regularly deliver specialized infusion medications and personal protective equipment (PPE). Such advancements are further expected to drive the hospital supplies market in Europe due to the timely delivery of useful supplies.

In addition, rising strategies from the key market players are expected to drive market growth in Germany. For instance, in July 2022, Olympus launched EASY SUITE, its next-generation operating room (OR) integration solution, in Germany and other European regions. EASYSUITE incorporates video management and routing, procedure recording, medical content management, and virtual collaboration. Such launches will lead to increased adoption of operating room equipment in German hospitals, driving market growth.

Therefore, owing to the aforementioned factors, Germany is expected to hold a significant share.

Europe Hospital Supplies Market Competitor Analysis

The Europe hospital supplies market is fragmented due to the presence of several companies operating globally and regionally. The competitive landscape includes an analysis of international as well as local companies which hold significant market shares and are well known, including Medtronic PLC, Baxter International Inc., Cardinal Health Inc., Becton, Dickinson and Company, Boston Scientific Group, Johnson & Johnson (Ethicon), 3M Company, B. Braun Melsungen AG, and Thermo Fisher Scientific Inc., among others.

Additional benefits of purchasing the report:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.