Asia-Pacific Hospital Supplies Market Size

APAC Hospital Supplies Market Analysis

Asia-Pacific Hospital Supplies Market is expected to witness a CAGR of 9.7% during the forecast period (2022 - 2027).

The COVID-19 pandemic is expected to have a significant impact on the market. For instance, according to an article published by the British Medical Journal, in June 2020, titled 'Covid-19: Indian healthcare workers need adequate PPE', the safety measures and guidelines issued by the government to use personal protective equipment (PPE) kits and masks to avoid the spread of coronavirus has increased the demand of these items among hospitals, laboratory and primary health care/community settings. In addition, as per the same source, about 0.5 million personal protective equipment (PPE) kits were supplied to various government hospitals by the central government. The rising spread of coronavirus has increased the demand for disposable items in hospitals. Additionally, news published by Down to Earth, in December 2021, titled 'COVID-19: Where does India stand on syringe shortage?', about 750 million syringes were produced by the Anhui Tiankang Medical (ATM), a China-based medical instrument company, to vaccinate two billion people in 2022. Also, as per the same source, Hindustan Syringes and Medical Devices have ramped up the production of assorted syringes from three billion to four billion by March 2022. Thus, the increasing production of syringes and growing demand for personal protective equipment kits have positively impacted the hospital supplies market during a pandemic. Moreover, the tremendous pressure on the hospitals to provide safe and effective services to non-COVID-19 patients is expected to create demand for hospital supply products that are used in hospital settings. Thus, the factors mentioned above are expected to have a considerable impact on the hospital supply market.

Certain factors that are attributed to the market growth are the increasing incidences of communal diseases, growing public awareness about hospital-acquired infections, and the high demand for hospital supplies in developing countries in the region.

The rising incidences of communicable diseases and growing awareness about hospital-acquired infections are the factors driving the market growth. For instance, in India, the Hospital Infection Society creates awareness and deals with healthcare-associated infections across the hospitals in the country. Additionally, in April 2022, The Infection Prevention and Control program using the ECHO (Extension for Community Healthcare Outcomes) model was introduced in Maharashtra and West Bengal, which joined in the mission as partner states, with the objective to improve the existing knowledge base for nurses, along with training them to improve their overall scope of information, particularly in the areas of infection control and prevention. Additionally, the outbreak of COVID-19 has alerted the government authorities and hospitals across the world to enhance the sterilization practices in hospitals and other healthcare facilities, to make sure that the transmission of the virus is controlled. Thus, such awareness and developments are anticipated to drive the segment growth over the forecast period.

In addition, the increasing number of medical devices imported from different countries is expected to drive the demand for hospital supplies, thereby propelling the market growth. For instance, according to the data published by the India Brand Equity Foundation, in July 2022, the value of India's medical equipment import has Rs. 4,569 crores (USD 572.07 million) in 2016-17 to Rs. 40,649 crores (USD 5.08 billion) in 2021-22. Thus, the rising import activities in the region is expected to increase the hospital supplies, which in turn is anticipated to propel the market growth over the forecast period.

However, the stringent regulatory framework and the emergence of home care services are some of the factors that are likely to hinder the market growth over the forecast period.