Healthcare Consumables Market Size to Worth Around US$ 1125.1 Billion by 2030

The global healthcare consumables market is expected to registered growth at a CAGR of 13.6% during the forecast period and to be worth around US$ 1125.1 billion by 2030.

The healthcare consumables are used in different verticals of healthcare sector. The hand sanitizers, wound care consumables, disposable masks, diagnostic consumables, disposable gloves, respiratory supplies, incontinence products, drug delivery products, sterilization consumables, and respiratory supplies are different types of healthcare consumables. All these products are manufactured with the help of raw materials such as paper, rubber, plastic resin, and glass. The surge in demand for healthcare consumables is due to growing prevalence of chronic diseases.

In addition, due to pandemic the production of healthcare consumables increased substantially. The healthcare consumables such as disposable gloves, hand sanitizers, and face masks saw boom in the sales in 2020. The rising trend of sanitization and safety has increased the demand for disposable healthcare consumables in the market. The growing government initiatives for the development and growth of the healthcare consumables market are creating lucrative prospects for the growth of the market.

In developed and developing regions, the government is highly investing in projects related to healthcare industry. This is opening new opportunities for the growth of the global healthcare consumables market over the projected period. The government are also investing in research and development projects for the development of healthcare consumables products. Moreover, the growing incidents of chronic infections and viral disorders such as COVID-19 and Zika virus is boosting the demand for healthcare consumables that are disposable in nature. As a result, all these factors are driving the worldwide healthcare consumables market during the forecast period.

Future of Healthcare Consumables Market

As per the estimates made by the World Health Organization (WHO), the percentage of the global population aged 60 and up will nearly double from 12 percent to 22 percent between 2015 and 2050. In 2020, the number of persons aged 60 and more outweigh the youngsters. By 2050, 80% of the world’s elderly would live in nations with low- and middle-income population. The geriatric population is growing at a considerably higher rate than in the past. The old people have weak immune system and face variety of disorders. This means the geriatric population are more prone to infections and are vulnerable to chronic disorders. This kind of people require regular health checkups and proper treatment. This has created the surge in demand for healthcare consumables in the market. Thus, the global healthcare consumables market is expected to develop at faster rate in upcoming years. 

Scope of the Report

Report Highlights:

• By product, the sterilization consumables segment dominated the global healthcare consumables market in 2021 with largest market share. The sterilization consumables are highly utilized as medical equipment in healthcare centers. One of the benefits of sterilization consumables is that it can be disposed off easily without creating any kind of infections.
• By raw material, the plastic resinsegment holds the largest market share the global healthcare consumables market in 2021. The plastic resin is used as a raw material for the manufacturing and production of various medical equipment and healthcare consumables such as tubes and syringes.  
• Based on the end user, the hospitals segment dominated the global healthcare consumables market in 2021 with largest market share. The demand for healthcare consumables in hospitals is growing due to the rising demand for surgeries. This is also due to technological developments in the field of healthcare.  
• North America is the largest segment for healthcare consumables market in terms of region. The healthcare consumables market in North America region is growing due to existence of healthcare infrastructure, growing awareness of non-invasive and minimally invasive surgeries, and surge in the demand for healthcare consumables. 
• Asia-Pacific region is the fastest growing region in the healthcare consumables market.The healthcare consumables market in Asia-Pacific region is expanding due to surge in the number of geriatric populations, rising disposable income, and urbanization. 

COVID-19 Impact Analysis:

• The coronavirus outbreak drastically impacted the growth of the healthcare sector. 
• Due to the COVID-19 epidemic, the demand for healthcare consumables expanded at a huge rate. 
• The healthcare consumables are required in every operation and medical procedure. The surge in the number of patients during pandemic caused positive outlook for the expansion of the global healthcare consumables market. 

Key Developments in the Marketplace:

• BTG PLC was bought by Boston Scientific Corporation in 2019 with the goal of providing best in class technology, incomparable clinical evidence, and a reinforced commercial infrastructure. 
• Baxter introduced peri strips dry with secure grip technology for staple line strengthening in surgical procedures in 2020.

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