COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Medical Disposables market worldwide will grow by a projected US$60.3 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3.7%. Drug Delivery Disposables, one of the segments analyzed and sized in this study, is forecast to grow at over 4.3% and reach a market size of US$46 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Drug Delivery Disposables market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 2.4% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$1.5 Billion to the region's size over the next 7 to 8 years. In addition, over US$1.5 Billion worth of projected demand in the region will come from Rest of European markets. In Japan, the Drug Delivery Disposables segment will reach a market size of US$984.9 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Medical Disposables market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 7.1% over the next couple of years and add approximately US$19.2 Billion in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Medical Disposables market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Steris; Sterling Medical Products; Surgirnedcorp; Svenska Cellulosa Aktiebolaget SCA (publ); TekMed Pty., Ltd.; Teleflex, Inc.; Terumo Medical Corporation; Tiger Surgical Disposable Pvt., Ltd.; Tissuemed Ltd.; Tranquility Products; Zhejiang Gongdong Medical Technology Co., Ltd.; 365 Healthcare; 4L Health Co., Ltd.; Acelity LP, Inc.; Ahlstrom-Munksjo Oyj; Alpha Healthcare and Equiment; AMMEX Corp.; Ansell Ltd.; Attends Healthcare Products, Inc.; B. Braun Melsungen AG; Becton, Dickinson and Company; Beldico Belgium & International Export; Biovotec AS; Boston Scientific Corporation; Cardinal Health, Inc.; Changzhou Hekang Medical Instruments Co., Ltd.; ConvaTec, Inc.; Cypress Medical Products LLC; Daio Paper Corporation; Dispotech Srl; Drylock Technologies NV; DSG International Ltd.; Dukal Corporation; Dynarex Corporation; Finesse Medical Ltd.; Galaxy Medical Products, Inc.; Halyard Health, Inc.; Hangzhou Jinlin Medical Appliances Co., Ltd.; Hartmann USA, Inc.; Hygeia Medical Supplies and Services, Inc.; Kao Corporation; Kossan Rubber Industries Bhd.; MED-CON Inc.; MedGyn Products, Inc.; Medtronic, Inc.; Mellon Medical B.V.; Molnlycke Health Care; Narang Medical Ltd.; Ningbo Greetmed Medical Instruments Co., Ltd.; Nu-Life Medical & Surgical Supplies Inc.; Ontex Group NV; Principle Business Enterprises, Inc.; Procter & Gamble Company, The; QuickMobile, Inc.; Raaj Medisafe India Ltd.; Rocamed SAM (Monaco); Shanghai Neo-Medical Co., Ltd.; Smith & Nephew PLC