The Hospital Supplies Market size in Europe was worth USD 9.08 billion in 2022 and is estimated to be growing at a CAGR of 11.90% and value USD 15.92 billion by 2027.
Growing public awareness of hospital-acquired infections (HAIs) and an increase in the number of hospitals are driving greater demand for hospital supplies in this region. Furthermore, factors such as the aging population, rising rates of infectious diseases, and techniques such as frequent glove switching and double gloving during procedures contribute to the market's rapid growth.
Another key factor driving the growth of the hospital supplies market is the improving economic position in developing countries.
A diverse range of developments and investment opportunities for existing businesses looking to enter the hospital supplies market constant advancement in the market will drive the market growth. The scope and potential for hospital supplies are expected to develop during the projection period, with the rising market growth, favorable government legislation, and increased healthcare expenditure.
During the forecast period, growing new technologies in the health industry are expected to create huge potential. In addition, the focus of the government and healthcare bodies is increasing awareness among their regions about the rising number of diseases paired with preventive measures to curb the rate, which is expected to drive significant opportunities in the hospital supplies market during the forecast period.
The growing use of home care restrains hospital admission rates, further impeding the market's expansion. In addition, the government's strict rules on medical equipment suppliers are thought to be a stumbling block to the market's growth.
This research report on the European Hospital Supplies Market has been segmented and sub-segmented into the following categories:
By Product Type:
Geographically, Europe is the third-largest market in the world, with a 23 percent share. The European hospital supplies market is growing due to rising awareness of hospital-acquired infections (HAIs), an increase in the number of hospitals, and an older population. The emerging countries in the region such as Germany, the United Kingdom, France, Spain, Italy, and the rest of Europe contribute to the European regional market growth market. Germany is the region's major market shareholder for hospital supplies, followed by the United Kingdom and France. In addition, Norway, Netherlands, Denmark, and Greece are also important players in this region.
Surgical procedures have increased dramatically as a result of rising immigration from African and other Mediterranean countries to European countries, necessitating even more technological progress in operating room equipment. As a result, a number of companies are focusing on the creation of cutting-edge operating rooms, which are generating lucrative growth potential.
Germany has a long history of producing high-quality medical equipment, accounting for roughly 30% of the European market. The German market has the largest market share because of its strong healthcare system, including infrastructure, hospital beds, hospital supplies, equipment, etc. According to the Germany Federal Statistical Office 2020 report, there are presently 83 million people in Germany, 16.2 million over the age of 67. This figure is expected to rise to 21.4 million by 2040. Therefore, the older population is predicted to increase in the future, which would likely benefit the industry.
The European countries' hospitals have a well-established infrastructure, which aids in expanding the European hospital supply market.
On the other hand, the UK is more likely to register a significant share in the hospital supplies market during the forecast period. The availability of a well-established infrastructure, technological advancements in healthcare sectors, high healthcare spending, and supportive government regulations significantly contribute to the country's market growth.
KEY MARKET PLAYERS:
A few of the promising companies operating in the Europe hospital supplies market profiled in this report are Advanced Sterilization Products Services Inc., Dickinson and Company, Cardinal Health, Inc., Kimberly-Clark Corporation, Becton, 3M Health Care, and B. Braun Melsungen AG.
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