Medical Disposables Market Size Is Predicted To Reach A Valuation Of $329.9 Billion By 2024: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.

According to a report published by Grand View Research, Inc.; the global medical disposables market is projected to reach around USD 329.9 billion by 2024. Increasing occurrence of chronic diseases, rise in elderly population, and demand for improved healthcare facilities can drive the market during the forecast period (2013 to 2024). Additionally, rising awareness about infection control standards among individuals is expected to fuel the growth.

Governments and healthcare professionals across the world focus on reducing the risk of infection and the cross-contamination. Increasing practice of single-use disposable products to avoid cross-contamination and infection in healthcare settings can have positive impact on the market. Medical disposable products find applications in surgeries, wound care management, and others. This factor is anticipated to further fuel market growth in the forthcoming years.

Moreover, growth in number of patient admissions in hospitals coupled with government regulations to enhance the facilities to ensure better patient care is also expected to support the market growth. Medical disposables reduce sterilization and disinfection costs. Therefore, many healthcare professionals as well as patients prefer disposable supplies for infection control. Demand for minimally invasive surgeries is also driving demand for disposable needles and drug delivery devices, which, in turn is projected to boost market expansion.

Full Research Report On Medical Disposables Market Analysis: www.grandviewresearch.com/industry-analysis/medical-disposables-market

The worldwide medical disposables market can be segmented on the basis of type, raw material, end-use, and region. Based on type, the market can be categorized into drug delivery products, wound management products, diagnostic and laboratory disposables, incontinence products, dialysis disposables, respiratory supplies, nonwoven disposables, sterilization supplies, and others. The drug delivery segment accounted for the largest market share in terms of revenue in 2015. Growing applications of disposable needles, prefilled syringes, and thermal patches can drive the segment growth.

Wound management products was the second leading segment in 2015. Growing incidence of wound infections and availability of disposable wound management products are supporting the segment growth. The diagnostic and laboratory disposables is anticipated to be the second fastest growing segment due to increasing demand for accurate diagnostic techniques. These products are used to improve the accuracy of test results.

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As per raw material, the market for medical disposables can be classified into metals, rubber, plastic resins, glass, nonwoven material, paper and paperboard, and others. In 2015, the plastic resins segment held for the largest market share in terms of revenue. Different types of plastics including polystyrene, polypropylene, and polyvinyl chloride are widely accepted in the making of medical disposables. The nonwoven material segment is anticipated to rise at a fastest CAGR over the forecast period. Products manufactured using these materials provide hygiene as well as protection to healthcare specialist and patients. Based on end-use, the market can be categorized into hospitals, outpatient/primary care facilities, home healthcare, and others.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. North America held the largest market share of 35.0% in 2015 and is likely to continue its dominance during the forecast period. Factors such as high adoption of technology and availability of advanced healthcare infrastructure are driving the regional growth. In addition, high consciousness about consequences of cross-contamination and rising infection control efforts in healthcare settings are considered as crucial driving factors. Europe was the second largest regional segment with a market share of over 28.0% in 2015, accredited to increasing healthcare expenditure in developed countries such as Italy, France, and Germany.

Asia Pacific is poised to witness remunerative growth over the projected period. The region is anticipated to expand at a CAGR of over 7% during the forecast period. This can be attributed to the existence of numerous companies involved in development of medical disposable products in India and Japan. Additionally, high incidence of chronic disorders owing to rise in sedentary lifestyles is also expected to drive the regional growth.

Some of the prominent companies operating in the global medical disposables market include Johnson & Johnson Services, Inc.; Medline Industries, Inc.; Dickinson & Company; Smith and Nephew; and B. Braun Melsungen AG.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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