Medical Disposables Market Hits $16.9 Billion By 2024: BY Grand View Research, Inc.
The global medical disposables market is expected to reach
USD 329.9 billion by 2024, according to the study performed by Grand View
Research, Inc. Key factors driving the market expansion include the growing
awareness regarding benefits of infection control, which majorly include enhanced
quality of life and minimized related healthcare expenditure.
In addition, propelling factors of
this sector comprise constantly rising hospital visits, surgeries, and the
growing need for healthcare assistance owing to the escalating geriatric
population prone to developing chronic diseases and injuries. Furthermore, the
emergence of this sector is attributed to the increased focus toward the use of
single-use disposable products to prevent cross-contamination and infection in
healthcare settings.
These products offer a range of
advantages to the healthcare institutions such as reducing sterilization and
disinfection costs. Thus, most of the healthcare professionals and individual
patients are turning toward disposable medical supplies to meet the infection control
requirements.
Drug delivery products captured the
largest revenue share in 2015. The segment is also expected to foresee the
fastest growth rate due to the increasing use of prefilled syringes, needles,
and transdermal patches by various hospitals and clinics.
The plastic resin segment accounted
for the largest share in 2015 due to their wide availability and application in
the healthcare sector. However, nonwoven material is forecasted to grow at the
fastest CAGR owing to factors such as their low weight, affordable cost, and
easy recycling methods. Nonwoven fabric is the material of choice for a number
of applications such as wound care management, incontinence management, and
surgeries due to the highly absorbent and liquid repellent nature of this
material, among other properties.
Browse full research report on Medical
Disposables Market: http://www.grandviewresearch.com/industry-analysis/medical-disposables-market
Further Key Findings from the Study
Suggest:
- In
2015, the drug delivery product segment captured the largest revenue
share. The increasing application of various drug delivery products for
sustained-release drug therapies is mainly contributing to the largest
share of the segment globally.
- In
addition, rising demand for minimally invasive surgeries is spurring the
demand for needles and drug delivery devices, which is resulting in the
high revenue generation of the segment
- With
the introduction of advanced technology and growing demand for accurate
diagnostic methods, the diagnostic and laboratory disposables segment is
expected to show the second fastest growth during the forecast period
- North
America region dominated the overall market by capturing over 35.0% share
in 2015. This region is anticipated to remain dominant throughout the
forecast period.
- Some
of the factors having a significant impact on the regional market growth
are government initiatives, high per capita income, large patient pool,
and the presence of a large number of major players in the region
- Growing
economies and government-led initiatives are expected to drive the growth
of the medical disposables sector in the Asia Pacific region. The segment
is expected to witness a lucrative CAGR of over 7% during the forecast
period.
- Some
of the major players in the consolidated market are 3M, Johnson &
Johnson Services, Inc., Abbott, Becton, Dickinson & Company,
Medtronic, B. Braun Melsungen AG, Bayer AG, Smith and Nephew, Medline
Industries, Inc., and Cardinal Health
Browse more reports of this
category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented
the medical disposables market by product, raw material, end use, and region:
Type Outlook (Market revenue in
USD Million, 2014 - 2024)
- Wound
Management Products
- Drug
Delivery Products
- Diagnostic
and Laboratory Disposables
- Dialysis
Disposables
- Incontinence
Products
- Respiratory
Supplies
- Sterilization
Supplies
- Nonwoven
Disposables
- Others
Raw Material Outlook (Market
revenue in USD Million, 2014 - 2024)
- Plastic
Resins
- Nonwoven
Material
- Rubber
- Paper
and Paperboard
- Metals
- Glass
- Others
End Use Outlook (Market revenue
in USD Million, 2014 - 2024)
- Hospitals
- Home
Healthcare
- Outpatient/Primary
care Facilities
- Others
Regional Outlook (Market Revenue
in USD Million, 2014 - 2024)
- North
America
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- Middle
East and Africa (MEA)
- South
Africa
Access press release of this
research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-disposables-market
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
For more information: www.grandviewresearch.com
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