Hospital Consumables market size is estimated to reach $69.3 billion by 2026


Posted January 25, 2023 by Urmila01

The Global Hospital Consumables market size is estimated to reach $69.3 billion by 2026, growing at a CAGR of 11.3% over the forecast period of 2021-2026.

 
The Global Hospital Consumables market size is estimated to reach $69.3 billion by 2026, growing at a CAGR of 11.3% over the forecast period of 2021-2026.
Medical devices and consumables make up for most of the patient's treatment after the doctor's proficiency. Hence, consumables have been a prime trade factor and one of the quintessential components that can help the hospital or end-user mitigate various acquired infections. Hospital-acquired infections have been growing due to the hospital's negligence in disposing of the said consumable or reusing it again on another patient to avoid extra costs.
Healthcare centers have to manage the entire process of disposition, and else they are subjected to penalties by the medical association or Medi-care facilitator. Reusable devices and supplies have always been a potential form of spreading hospital-acquired infections or HAI or even higher chances of cross-contamination. Hospital consumables are individually packed-sterilized; hence the overall discussed risks reduce multifold. Additionally, the demand for hospital consumables increased as the cross-contamination risk mellows down while using such consumables due to the pandemic.
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Market Dynamics
Driver: The concern for mitigating hospital-acquired or hospital-acquired infections has been a prime reason for the market penetration.
Hospital-acquired infections have been a prime contributor to increasing deaths post-operation within the hospital site. Within the American hospitals, CDC estimates that 1.7 million infections and 99,000 deaths are the results of HAIs. The U.S. regulatory authorities have provided steps that can potentially reduce the overall risk for spreading HAIs. For example, catheters to be used on one patient, and disposing of it immediately after use; providers to continuously wear body covers, gloves, masks, and other appropriate gears to reduce the potential risks.
Pathogens such as vancomycin-resistant enterococci (VRE), methicillin-resistant Staphylococcus aureus (MRSA), multi-resistant Gram-negative bacilli, Norovirus, and Clostridium difficile persist in the health care environment for days. Methicillin-resistant Staphylococcus aureus (MRSA) can potentially survive anywhere between 7days to 7 months. Further, Norovirus can survive anywhere between 8 hours- 7 days. Hospital consumables are preferred Owing to such persistence.

Challenge: The environmental concerns of the disposition of hospital consumables have raised questions and impeded market growth.
The predominant portion of hospital consumables is made of plastic, and the world has started its descent to avoid using such products. The following factors hamper the overall market growth. For example, as per Mayo Clinic reports, 20% of the wastes generated by hospitals in the U.S. is due to single-use medical consumables. Further, 57% of the people surveyed had no clue about what can be termed recyclable, which further increases the overall disposition of plastic waste, as a predominant part goes under the head of "non-recyclable."
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Another case study indicated that within the U.K., nurses were opting for plastic gloves to touch hospital beds and pediatric wards; when the chief hospital advisor took a harsh stand against such practices, the hospital observed that it could save 21 tons of plastic, which also saved a substantial cost of $120,000. Hence, the general practice of saving costs by using hospital consumables has been trembled by such examples, and hence, the market would face ready troubles.

Key Market Players
Key Players in the Global Hospital Consumables Market consist of McKesson Medical-Surgical Inc., Medline Industries, Inc., B. Braun Melsungen A.G., Terumo Medical Corporation., Owens and Minor., Smith And Nephew, Inc., Cardinal Health, 3M., Medtronic, and Thermo Fisher Scientific.

Report Coverage and Scope
The report "Global Hospital Consumables Market" by Research Informatic covers an in-depth detailed analysis for the following segment covered under the scope.

By Product Type
· Medical Gloves
· Syringes
· I.V. Kits
· Medical Gauze
· Sharps Disposable Containers
· Catheters
· Non-Woven Disposable Products
· Surgical Blades
· Medicine Cups
· Cannula, Guidewires
· Thermometer
· Glucometer Strips
· IV Solutions
· Others

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By Procedural Requirements
· Elective
· Non-Elective Procedure

By End-users
· Hospitals
· Private Clinics
· Ambulatory Surgical Centers

By Geography
· North America
· Europe
· APAC
· RoW

TOC:
Chapter 1 Hospital Consumables Market Overview
1.1 Product Overview and Scope of Hospital Consumables
1.2 Hospital Consumables Market Segmentation By Product Type
1.2.1 Medical Gloves
1.2.2 Syringes
1.2.3 I.V. Kits
1.2.4 Medical Gauze
TOC Continued…
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Categories Biotech , Health , Medical
Tags hospital consumables market
Last Updated January 25, 2023