The report “COVID-19 impact on Medical Supplies Market by Type (Intubation, Personal Protective Equipment, Infusion, Radiology, Wound Care Supplies), End User (Hospitals, Clinics) – Global Forecast”, the Medical Supplies Market size is projected to reach USD ~100 billion by 2021 from USD ~78 billion in 2019, at a CAGR of ~13.4%.
The market for medical supplies is driven primarily by the growing awareness on environmental & personal hygiene leading to rising demand for disinfectants , expansion of healthcare settings owing to increasing COVID 19 patients, increased requirement of PPE kits & N95 masks globally, rising demand for ventilators, and increasing demand for diagnostic supplies. In addition, repurposing liquor production lines to manufacture sanitizers offers an opportunity for players in this market. However, delays in non-urgent treatment and surgical procedures and impact on supply chain and logistics due to lockdown is likely to restrain the growth of this market.
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The disinfectant segment is projected to grow at the highest CAGR during the forecast period
Based on products, the market is segmented into intubation and ventilation supplies, disinfectant, personal protective equipment, diagnostic supplies, sterilization supplies, infusion and injectable supplies, dialysis supplies, wound care supplies, radiology supplies, and other medical supplies. The disinfectant segment is expected to grow at the highest rate during the forecast period. This can be attributed to the increasing demand for sanitizers and other disinfectants to safeguard people from the cross-contamination of coronavirus.
Geographical View in-detailed:
The medical supplies industry is segmented into four major regions, namely, North America, Europe, the Asia Pacific (APAC), and Rest of the World. In 2019, North America accounted for the largest share of the medical supplies market. The large share of this region can primarily be attributed to the high adoption of intubation and ventilation supplies, a high number of positive COVID-19 cases and deaths in the US, a strong healthcare system, and the presence of many large hospitals in the region. Moreover, a large number of major global players are based in the US, owing to which the US can easily manufacture these devices.
Global Key Leaders:
The key players in the global medical supplies market are Medtronic plc (Ireland), Cardinal Health, Inc. (US), Becton, Dickson and Company (US), Johnson & Johnson (US), and B. Braun Melsungen AG (Germany), Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (US), STERIS Corporation (US), Getinge Group (Sweden), Advanced Sterilization Products (US), 3M Company (US), Smith & Nephew (U.K.), Mölnlycke Health Care AB (Sweden), among others.
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Medtronic PLC (Ireland) was the key player in the medical supplies market. Medtronic is known for its diversified product offerings in the field of medical supplies. The company’s comprehensive product portfolio includes wound care supplies, medical delivery products, urology catheters, needles and syringes, blood and specimen collection, sharp disposal, diagnostics catheter, dialysis catheter, PPE, incontinence, surgical kits, intubation products. Over the years, the company has maintained its position in the market through continuous innovation and the launch of advanced products. In addition to this, Medtronics focuses on expanding its product portfolio and geographic presence by mergers and acquisitions. In line with this, in October 2019, Medtronic acquired AV Medical (Israel).