Medical Disposables Market to Witness Growth 13.4% by 2027

Published Date : 22, 2022

The global medical disposables market is expected to witness growth at a CAGR of 13.4% during the forecast period and to reach valuation of around USD 844 billion by 2027.

Growth Factors

Medical disposables are devices and materials used in a variety of medical fields such as hygiene, surgical wear, pediatrics, and anesthesia. Medical disposables are made for one time use only, as the name implies. Furthermore, due to the growing number of hospitals, the demand for medical disposables is expanding. Due to the ongoing development of new and sophisticated products, the medical disposables market will continue to grow. Due to the constant need for these products, the medical disposables market is steadily expanding. In addition, the medical disposables market is expected to develop as the number of patients in hospitals every day increases as well as the demand for healthcare.

Due to the constant shift from reusable medical devices and toward disposable medical supplies to reduce the risk of cross contamination and surgical site infections, the medical disposables market is expected to acquire significant traction. In the future years, the growing use of bioplastics in the healthcare industry to reduce environmental impact will improve the manufacturing of biodegradable medical disposables and supplies. The medical disposables are systems that are designed to be used only once for a limited amount of time in order to provide high quality patient care. Blood bags, gloves, needles, and face masks are examples of single use items that can be used instead of traditional equipment that requires expensive and time-consuming sterilization procedures.

Extensive diabetes causes diabetic foot ulcers, which lengthens hospital stays, indicating a positive impact on the medical disposables market during the forecast period. The medical disposables market’s rise is also predicted to be aided by the world’s growing older population. Furthermore, the medical disposables market’s growth is predicted to be aided by the leading firms’ ongoing activities. The largest corporations are pursuing a number of strategies to strengthen their market position during the forecast period.

Scope of the Report

Report Attributes Details
Market Size in 2021 USD 356.1 Billion
Revenue Forecast by 2027 USD 844 Billion
Growth Rate CAGR of 13.4% from 2021 to 2027
Base Year 2021
Forecast Data 2021 to 2027

Market Segmentation

  • Product
  • Raw Material
  • End User
  • Region

 

Future of Medical Disposables Market

The rising prevalence of chronic diseases, as well as the resulting rise in the number of hospitalizations is some of the factors driving the medical disposables market. Moreover, the rising prevalence of hospital-acquired illnesses is expected to fuel the medical disposables market’s growth. Also, increasing government funding and expanding awareness of medical disposables and equipment are major factors contributing towards the growth of the global medical disposables market in upcoming years.

Report Highlights:

  • Based on the product, the disposable mask dominated the global medical disposables market in 2020 with highest market share. Disposable masks are essential for protecting against dangerous infections that spread quickly from one person to another.
  • Based on the raw material, the plastic resins segment dominated the global medical disposables market in 2020 with highest market share. Medical devices such as containers, disposable syringes, and various packaging materials for pharmaceuticals have all been made with plastic resins. 
  • Based on the end use, the hospital segment dominated the global medical disposables market in 2020 with highest market share. Over the projected period, the segment will grow due to an increase in the use of medical disposables in hospitals around the world.
  • North America is the largest segment for medical disposables market in terms of region. This is due to the rising number of surgeries and the existence of major market participants in this region. Furthermore, a rise in the number of COVID-19 patients in this region has boosted demand for medical supplies. 
  • Asia-Pacific region is the fastest growing region in the medical disposables market. This is attributed to the region’s growing elderly population and high prevalence of cardiovascular illnesses. 

COVID-19 Impact Analysis:

  • The current COVID-19 pandemic had a significant influence on the global healthcare industry, especially in terms of medical device assembly and manufacturing.
  • Remote working and supply chain interruptions have also had an impact on how businesses operate. These difficulties may have had an effect on the medical disposables market in recent months.

Key Developments in the Marketplace:

  • Vystar Corporation signed a contract in July 2020 with a Thai manufacturer to produce disposable gloves for workers and consumers to limit the spread of coronavirus through hand contact.
  • Honeywell began offering safety packs for aircraft passengers and crew members in June 2020. A safety mask and hand wipes are included in the safety kits. 
  • Smith & Nephew PLC purchased Osiris Therapeutics, Inc. in April 2019 with the goal of expanding its advanced wound management product range.
  • 3M announced the acquisition of Acelity Inc. in May 2019, with the goal of strengthening wound treatment products.

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