Medical Disposables Market - Forecasts from 2022 to 2027

The medical disposables market is projected to grow at a CAGR of 18.87% to reach a value of US$899.122 billion by 2027, from US$268.043 billion in 2020.

The ongoing spread of the pneumonia-like virus, COVID-19, is leading to skyrocketing demand for PPE in order to prevent the spread of the infection and restrict the rapidly rising number of confirmed cases and deaths globally

The use of Personal Protective Equipment (PPE) is highly recommended by different healthcare organizations and government bodies such as the Centers for Disease Prevention and Control (CDC), and the World Health Organization among others. This is being done in order to control the rate of spread of the dangerous flu-like infection COVID-19, as it is causing havoc globally with confirmed cases being reported at close to 3.58 million and the deaths being close to 252,000. This has caused the healthcare professionals to become aware of using hygienic practices and make use of PPE at all times whilst dealing with patients, which has thereby led to a surge in the demand for medical disposables, which is further acting as a driving factor for the market growth over the forecast period.

Healthcare-Acquired Infections (HAI) pose a serious threat to patients as well as healthcare professionals, causing them to adopt medical disposable products and solutions.

There is an increasing number of individuals that are leading sedentary lifestyles and consuming copious amounts of alcohol, nicotine, and other items such as fast food, which is putting them at risk of alcohol poisoning and lung cancer, thus, leading to an increase in hospitalizations. However, their problems are being aggravated due to the unhygienic practices, unclean instruments, and surroundings in some of the healthcare centres. According to the WHO, Healthcare-Acquired Infections (HAI), are increasingly common, and are one of the major factors in the increased healthcare costs and increased duration of hospital stays. Hence, these factors are encouraging healthcare professionals to adopt medical disposables such as face masks, and medical gloves, among others in order to prevent the spread of infection to themselves or other patients, and are further bolstering the market growth.

The increase in the geriatric population was facilitated by the increase in living standards.

The increase in living standards, due to the rising disposable income of the individuals in the population has resulted in an increase in life expectancy and has led to a rise in the geriatric population in different regions of the world. The increase in the geriatric population has resulted in them becoming more prone to different infections and diseases due to their decreased immunity. Some of the diseases, which plague aged individuals, are urinary tract infections, and cataract surgeries, among other viral infections, which have led to an increase in the demand for medical disposables such as examination gloves, surgical gloves, and face masks, among others, and are contributing to the market growth over the forecast period.

Major Market Players' Product Offerings in the Medical Disposables Market The offering of better and more advanced medical disposables with enhanced protection, quality, and durability, among other properties, by the existing and new players in different markets is estimated to lead to increased adoption and propel the market growth further over the forecast period.

COVID-19 SCENARIO

The demand for medical disposables has dramatically increased as a result of the COVID-19 outbreak and rising hospital admissions worldwide. In order to keep up with rising worldwide demand, the WHO has urged businesses and governments to produce 40.00 percent more personal protective equipment, such as hospital gowns, gloves, surgical masks, face shields, aprons, respirators, and goggles. Additionally, it stated that these items' prices had significantly increased due to the rise in demand for them. For instance, the cost of hospital gowns has doubled while the cost of surgical masks has climbed six-fold. Additionally, the WHO has distributed roughly 500,000 units of personal protective equipment to about 47 different nations. Consequently, the COVID-19 epidemic has had a favourable effect on the market. The demand for medications, medical supplies, emergency supplies, and hospital equipment like gowns, antiseptics, and disinfectants has significantly grown as a result of the SARS-CoV-2 epidemic.

KEY DEVELOPMENT

APR 2021- For the storage and distribution of 80,000 PPE pallets to support the Strategic National Stockpile (SNS), a division of the Office of the Assistant Secretary for Preparedness and Response within HHS, Cardinal Health was awarded a US$ 57.8 million contract.

Some of the examples of product offerings are as follows:

• Smith & Nephew, which is a company dealing in the provision of different medical products and solutions to cater to different applications, offers a range of Wound Management solutions. It offers a product called the “ACTICOAT”, which is used to create and act as an antimicrobial barrier and is used as a dressing for the wound. In addition, it also offers other products such as ”OPSITE Post-Op”, which is a type of transparent dressing used in post-operative conditions.
• Cardinal Health, one of the leading medical products and solutions providing companies, offers a range of products under the infection control segment called the “Disposable Gowns and Capes”, which are specially designed by infusing 3 layers into a single layer of textile material that is non-woven and opaque in nature in order to facilitate the provision of maximum protection.

The North American region is expected to hold a considerable share over the forecast period, and the Asia Pacific region is expected to witness a significant increase in its market share over the forecast period

The North American region is expected to hold a significant share over the forecast period owing to the fact that there is an increasing number of players involved in the provision of advanced and enhanced varieties of medical disposables. In addition, there is an increasing number of cases of CVID-19 cases in countries such as the US, which is increasing the demand for essential medical disposables such as gowns, face masks, and medical gloves.

In addition, the Asia Pacific region is expected to witness a significant increase in its market share over the forecast period, which is attributable to the fact that there are initiatives being taken by the government in order to boost the healthcare sector. In addition, the cheap production and easy availability of medical disposables in countries such as Malaysia, India, and China, among others, is further adding to the market share of this region.

By end user, hospitals are expected to hold a significant share in the market

The growing prevalence of chronic diseases and rising demand for sophisticated healthcare facilities in hospitals are expected to drive the market during the forecast period. Also, the increasing volume of patient admissions in hospitals due to the current pandemic and mandatory guidelines for hospitalization also boosts the demand for medical disposables for hospital employees and staff.

Segmentation:

By Product Type

• Wound Management
• Applicators
• Bandages
• Dressings
• Gauze
• Apparel
• Coverall
• Exam Gowns
• Shoe Covers
• Gloves
• Lab Coats
• Face Masks
• Blood Collection
• Needles
• Lancets
• Tourniquets
• Swabs

By End-User

• Hospitals
• Homecare

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• UK
• Germany
• France
• Spain
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Asia Pacific
• Japan
• China
• India
• South Korea
• Indonesia
• Thailand