Medical Supplies - Increasing demand for medical devices
The global medical supplies market is projected to grow at a CAGR of 4.6%
The growth is majorly driven by the increasing prevalence of chronic diseases across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, rising demand for infection control measures to curb the occurrence of HAIs, and the rising demand for medical devices.
The diagnostic supplies, infusion & injectable supplies, intubation & ventilation supplies, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies. The intubation & ventilation consumables segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the rising incidence of respiratory diseases, such as asthma and COPD, along with the increasing prevalence of COVID-19 across the globe.
North America was the largest regional market for medical supplies
North America held the largest share of the market, followed by Europe. The rising incidence of chronic diseases, increasing geriatric population, and the increasing prevalence of COVID-19 are the major factors driving the growth of the medical supplies market in North America.
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