Global Medical Disposables Market to Reach $501.8 Billion by 2026

Medical disposable products are mainly used in patient examination, diagnostic testing, sterilization, fluid and drug delivery, surgery, wound management, and incontinence management, primarily as a means of reducing patient discomfort. The global market is growing at a rapid rate, driven by the increasing cases of chronic diseases that require longer hospital admissions, growing number of surgical procedures, increase in incidences of Hospital Acquired Infections (HAIs), and above all, the impact of the outbreak of the COVID-19 pandemic across the globe. Continued emphasis on relatively higher number of patient admissions and widespread COVID-19 testing programs across the world are among the major factors that enabled the medical disposables market to maintain a progressive momentum. Although the overall growth in the market remained positive, the surgical instruments & supplies and infusion & hypodermic devices segments took a beating as number of surgeries performed and volume of associated services provided remained lower, especially during the first two quarters. Another driving factor for the growth of the medical disposables market is the increasing geriatric population across the world.

Amid the COVID-19 crisis, the global market for Medical Disposables estimated at US$294.4 Billion in the year 2020, is projected to reach a revised size of US$501.8 Billion by 2026, growing at a CAGR of 8.9% over the analysis period. Surgical Instruments & Supplies, one of the segments analyzed in the report, is projected to grow at a 5.4% CAGR to reach US$57.1 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Bandages & Wound Dressings segment is readjusted to a revised 6.1% CAGR for the next 7-year period. This segment currently accounts for a 10.5% share of the global Medical Disposables market. Steered by robust increase in wound care requirements in verticals such as surgical wounds, trauma, lacerations, diabetic ulcers, venous ulcers, burns, and pressure ulcers, demand for various traditional wound dressings such as gauzes, bandages, body netting, cohesive wraps, composite dressings, and non-adherent dressings, exhibited progressive growth.

The U.S. Market is Estimated at $86.4 Billion in 2021, While China is Forecast to Reach $73.5 Billion by 2026

The Medical Disposables market in the U.S. is estimated at US$86.4 Billion in the year 2021. The country currently accounts for a 24.67% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$73.5 Billion in the year 2026 trailing a CAGR of 10.3% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.4% and 7.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR while Rest of European market (as defined in the study) will reach US$79.9 Billion by the end of the analysis period. US dominates market growth due to increasing number of surgeries performed in this region and the presence of major market players. Additionally, the US witnessed significant increase in the number of COVID-19-affected patients, which boosted the demand for medical disposables. Other factors driving demand include established healthcare infrastructure; increased healthcare spending; large patient pool; government initiatives; increasing awareness about cross-contamination and infection control in healthcare and medical fields; and higher rates of advanced technology adoption. In Asia-Pacific, growth is set to be driven by the increasing geriatric population and rising incidence of cardiovascular diseases. The presence of several major players engaged in the development of medical disposable products in countries such as Japan and India are expected to boost Asia Pacific`s medical disposables market growth.

Infusion & Hypodermic Devices Segment to Reach $38 Billion by 2026

In the global Infusion & Hypodermic Devices segment, USA, Canada, Japan, China and Europe will drive the 4.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$21.8 Billion in the year 2020 will reach a projected size of US$30 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.3 Billion by the year 2026, while Latin America will expand at a 5.3% CAGR through the analysis period.