The major factors driving the growth of the Medical Supplies Market are rising geriatric population, increasing incidence of various diseases, and the rising number of surgeries.
The Research Report provides a detailed overview of the major drivers, restraints, challenges, opportunities, and strategies impacting the global medical supplies market along with the estimates and forecasts of the revenue and market share analysis.
According to Latest Market research report Published by MarketsandMarkets the “Medical Supplies Market Size, Share, Demand and Growth Analysis, forecast” the Global Market is expected to reach USD 136.63 billion, at a CAGR of 6.8%
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The major factors contributing to the growth of this Medical Supplies Market include increasing patient pool for renal diseases, rising incidence of diabetes and hypertension, growing the geriatric population, and increasing adoption of dialysis procedures over kidney transplantations.
key players operating in the Global Medical Supplies Market;
The key players in the medical supplies market include Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Becton, Dickinson and Company (U.S.), Cardinal Health, Inc. (U.S.), Halyard Health, Inc. (U.S.), Johnson & Johnson (U.S.), Thermo Fisher Scientific Inc. (U.S.), Boston Scientific Corporation (U.S.), Baxter International Inc. (U.S.), and 3M Company (U.S.).
Medtronic plc (Ireland) held the leading position in the medical supplies market. The company focuses on product launches, acquisitions, and agreements to enhance its product portfolio. For instance, Medtronic plc launched the new Barrx 360 Express radiofrequency ablation (RFA) balloon catheter for the treatment of Barrett’s esophagus.
Major Drivers Impacting the Medical Supplies Market;
· Rising Incidence of Diseases
· Growing Geriatric Population
· Increasing Incidence of Hospital-Acquired Infections
· Growth in the Number of Surgical Procedures
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Global Medical Supplies Market Segmentation:
Based on application, the market is segmented into urology, wound care, radiology, anesthesia, sterilization, cardiology, ophthalmology, and other applications. The anesthesia segment is expected to register the highest growth during the forecast period. The high growth in this segment is attributed to the increasing number of surgical procedures being performed across the globe and the rising incidence of respiratory diseases.
Medical Supplies Market, by Region
- North America
- Rest of the World (RoW)
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Based on end user, the Medical Supplies Market is segmented into hospitals, clinics, assisted living centers and nursing homes, ambulatory surgery centers (ASCs), and other end users. The hospitals segment is expected to register the highest CAGR during the forecast period.