Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Summary
The global Hospital Consumables Market is expected to witness a CAGR of xx% over the forecast period 2020-2026 and is expected to reach US$ xx million in 2026, from US$ xx million in 2019.
Hospital consumables are medical equipment and accessories which include syringes, sutures, needles, packaging, staples, tubing, medical gloves, catheters, masks, gowns, adhesives for wound dressing, etc. These products have a wide range of applications in the hospital.
The growing prevalence of chronic diseases such as cancer coupled with the increasing surgical procedure around the globe is expected to fuel the market growth of hospital consumables. According to the World Health Organization, cancer is the second leading cause of death around the globe and is accounts for an estimated 9.6 million deaths in 2018. Growth in the geriatric population worldwide is also expected to accelerate the market growth of hospital consumables. Aging is one of the common risk factors for various chronic diseases. According to the World Health Organization, during 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%.
North America is expected to gain significant growth over the forecast period and this is attributed to the presence of a well-established medical industry coupled with the increasing expenditure in the healthcare sector by government in the region. According to the Committee for a Responsible Federal Budget, in 2017, the United States spent around $3.5 trillion, or 18 percent of GDP, on health expenditures. Of that $3.5 trillion, $1.5 trillion, is directly or indirectly financed by the federal government.
Key Developments:
- In March 2020, Royal Philips a provider of health technology announced that it has increased the production of certain critical care products and solutions to help diagnose and treat patients with the new coronavirus disease (COVID-19).
- In July 2019, Audax Private Equity announced that it has entered into a definitive agreement to acquire Aspen Surgical a business unit comprised of certain surgical consumable products, from Hillrom.
- In March 2017, Healthcare products manufacturer Johnson & Johnson has set up hospital consumables in Nairobi. The aim of this move is to understand the market better and come up with innovations that will solve the country’s health problems
- In November 2017, Vernacare has acquired Synergy Health Healthcare Consumable Solutions from STERIS plc. The two businesses have come together under the Vernacare brand.
- In July 2019, ABB announced the introduction of collaborative robots to medical laboratories as it opens a new healthcare hub at the Texas Medical Center (TMC) innovation campus in Houston, Texas for the development of non-surgical medical Robotics systems
The Hospital Consumables Market report highlights product development and growth strategies such as merger and acquisition adopted by market players along with SWOT Analysis, PEST and Porter’s Five Forces analyses of the Hospital Consumables Market, which highlight the strengths, weaknesses, opportunities, and commination of key companies. Moreover, the report offers two distinct market forecasts, one from the perspective of the producer and another from that of the consumer.
The various contributors involved in the value chain of the product include manufacturers, suppliers, distributors, intermediaries, and customers.
The Key Manufacturers covered in this Report:-
- McKesson Medical-Surgical
- Medline Industries
- B.Braun Melsungen
- Terumo Medical
- Smith and Nephew
- Cardinal Health
- 3M
- Becton Dickinson
- JohnsonJohnson
By the Product Type, the market is primarily segmented into:
- I.V. Solutions
- General Procedure Trays
- Non-Woven Disposable Products
- Catheters
- Others
- Market segment by Application, split into
- Hospitals
- Clinics
- Others
By Applications, the market is segmented into:
The report covers the following Regions:
- North America
- United States
- Canada
- Mexico
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Indonesia
- Thailand
- Malaysia
- Philippines
- Vietnam
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Central & South America
- Middle East & Africa
- Turkey
- GCC Countries
- Egypt
- South Africa
Objective of the Hospital Consumables Market Report:
- To assess the size of the market by value and volume
- Analyze the Hospital Consumables Market in terms of regions and major countries
- Highlight recent developments and trends in the market
- Offer perceptive data regarding major market players in terms of key developments, strategies, and product portfolio
- Determine share of the Hospital Consumables Market in terms of various segments such as by product type, application, and end-user
- Offer accurate projection of the market for the forecast period using state-of-the-art tools and the current primary and secondary research approaches
- Discuss major factors that impact the growth of the Hospital Consumables Market
The Hospital Consumables Market engages the readers with all pivotal approaches to understand their position in the industry based on revenue or sales growth. The report efficiently evaluates the Hospital Consumables Market from various dimensions to deliver an end-product that is informative, elaborate, and accurate and includes detailed market segmentation, regional analysis, and competition in the market. The information in the report is backed by annual company reports, financial reports, press releases, regulatory databases, government documents, and statistical databases.
For the data information by region, company, type, and application, 2019 are considered as the base year. Whenever data information was unavailable for the base year, the prior year has been considered.
Key Stakeholders:
- Material suppliers/wholesalers
- Market Distributors/traders
- Regulatory bodies
- Research organizations, and consulting firms
- Commercial research & developments (R&D)
- Trade associations and industry bodies
- Importers and exporters
- End-use industries
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