The Global Hospital Supplies Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Hospital Supplies Market is estimated to be $28.17 USD billion and predicted to rise to $49.21 USD billion with a CAGR of 11.80%. The market is segmented by Product Type (Operating Room Equipment, Sterilization & Disinfectant Equipment, Syringes & Needles, Patient Examination Devices, Mobility Aids & Transportation Equipment, Disposable Hospital Supplies). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the Global Hospital Supplies Market is majorly driven by factors such as growing awareness about HAIs (hospital acquired infections), rising number of hospitals, aging population, increasing occurrences of communal diseases, methods such as frequent glove swapping and double gloving during procedures. Improved economic situation in the developing countries is another major factor boosting the growth of the market. However, advent of home care services, strict regulatory structure, advance of personalized medicine and drop in private health insurance are the major restraints hindering the growth of the market.
The Global Hospital Supplies Market is segmented on the basis of product type as aforementioned categories. Of these, Disposable hospital supplies lead the market with a market share of 46% followed by syringes and needle segment with a market share of 23%.
Similarly, on geographical basis, North America is the leading player in the global Hospital Supplies market followed by Asia-Pacific and Europe. However, the Asia-Pacific region, which comprises of countries such as China and India is projected to grow at the highest CAGR during the forecast period due to the unprecedented rate of population growth in this region.
The major companies dominating the global Hospital Supplies market are Advanced Sterilization Products Services Inc., Dickinson and Company, Cardinal Health, Inc., Kimberly-Clark Corporation, Becton, 3M Health Care, and B. Braun Melsungen AG. The top players in the global hospital supplies market are likely to face an intense competition from some of the budding companies in the coming years, exemplifying the open nature of this market.
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