According to the Vision Research Reports, The Medical Disposables market revenue share is set to grow at a yearly rate of 20.7% during 2021-2030, while its valuation is Projected to jump from $ 340.3 Bn in 2020 to $2.01 trillion in 2030.
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Growth Factors
Rising incidence of Hospital Acquired Infections (HAIs), impact of COVID-19 outbreak, and increasing number of surgical procedures are the key factors driving the market for medical disposables.
Increasing number of surgeries globally is a key factor expected to drive the market over the forecast period. For instance, as per Mölnlycke Health Care AB, 70.00 million surgical procedures are performed every year in Europe. As such, medical disposable products such as disposables eye gear, respiratory supplies, and sterilization supplies, which are being an essential requirement for surgical procedures, are expected to witness high demand over the forecast period. For instance, as per the report published by the Organization for Economic Co-operation and Development (OECD), around 390,352 surgeries were performed in Canada in 2017. Disposable products prevent the transmission of nosocomial infections to some extent owing to which surgeons consistently prefer to use disposable products over the reusable ones. Such factors are expected to boost market growth.
Report Highlights
The sterilization supplies segment dominated the market for medical disposables and held the largest revenue share of over 23.0% in 2020. Based on product, the market is segmented into wound management products, drug delivery products, diagnostic and laboratory disposables, dialysis disposables, incontinence products, respiratory supplies, sterilization supplies, non-woven disposables, disposable masks, disposable eye gear, and others.
The outbreak of COVID-19 has tremendously surged the demand for hand sanitizers across the globe. As per the World Health Organization guidelines, frequent application of hand sanitizers has been recommended to every individual in order to prevent the transmission of the coronavirus.
Based on raw material, the plastic resins segment dominated the market and accounted for the largest revenue share of over 68.0% in 2020. Plastic resins have been widely used for making medical devices such as, containers, tubes for intravenous solutions, and other packaging materials for medicines.
The non-woven material segment is anticipated to witness the fastest growth over the forecast period. The nonwoven material is mostly preferred as compared to woven material in hospitals and clinics as it provides better protection against hospital-borne infections and surgical site infections.
The hospital segment dominated the market and held the largest revenue share of 54.0% in 2020. This is due to the rising number of patient admissions in hospitals for surgeries and treatments for COVID-19. As per a study conducted by the University of California, San Francisco, in 2016, on average, more than 2000 tons of waste are generated by operating rooms per day, of which a significant portion of waste is from disposable medical supplies.
The home healthcare segment is anticipated to witness considerable growth over the forecast period. Medical disposables in the home healthcare segment mainly include used, syringes, solid bandages, disposable sheets, and gloves.
North America dominated the market and held the largest revenue share of 43.3% in 2020, owing to the increasing number of surgeries and the presence of key market players in this region. Moreover, an increase in the number of COVID-19 patients in this region has spurred the demand for medical disposables. As per a report published by the WHO on 20th April 2020, more than 3,39,09 existing cases were reported and more than 1,509 new confirmed cases were detected in Canada.
Key Players
| Report Coverage | Details |
| Market Size | US$ 2.01 trillion by 2030 |
| Growth Rate | CAGR of 20.7% From 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, raw material, end-use |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Mentioned | Medline Industries, Inc.; Smith & Nephew PLC; Bayer AG; BD; 3M; Cardinal Health |
Market Segmentation
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