The North American hospital supplies market is expected to witness a CAGR of 11.5% during the forecast period (2018-2023). The disposable hospital supplies segment leads the market with a market share of around 45%, followed by the syringes & needle segment with a market share of 23%.
Aging of the Population Drives the Market
The North American population has shown an increase in the ratio of the aging people, and due to the aging factor people tend to use more hospital services and the prescribed medicines, thereby, increasing the hospital supply demand in the market. According to the United Nations report, the number of people aged 60 years or above globally, is projected to grow by 56%, from 901 million to 1.4 billion, between 2015 and 2030. The statics show that there has been a steep rise in the aging population which is helping in the growth of the market.
The other growth factors driving the North American hospital supplies market are the growing awareness about hospital-acquired infections (HAIs), the aging population, and the increasing occurrences of communal diseases.
Home Care Services a Barrier for the Market
Many of the healthcare organizations are now partnering with traditional home healthcare services or are setting up their own home healthcare services to reduce the procedure and post-procedure costs for the patients. The increase in the usage of home healthcare services and availability of reimbursement by the federal agencies in developed countries, like the United States, is acting as a huge barrier for hospital supplies market.
The factors such as a decline in private health insurance, the advance of personalized medicine, and stringent regulations by the government are also contributing to hindering the growth of the hospital supplies market.
US the Leading Market
The US leads the market in this region with a share of almost 75%. The US market focuses on the cost-effective and the innovative procedures, and due to this, the US market has shown an increase in the hospital supplies market.
Key Developments in the Market
- April 2017: Advanced Sterilization Products, part of the Johnson & Johnson Medical Devices Companies, launched the new STERRAD 100NX System with ALLClearTM Technology in the United States
Major Players: Johnson & Johnson, Becton Dickinson and Company, Cardinal Health, Inc., Kimberly-Clark Corporation, 3M Health Care, and B. Braun Melsungen AG, among others.
Reasons to Purchase this Report
- Current and future North America hospital supplies market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Identifying the segment that is expected to dominate the market
- Regions that are expected to witness the fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
- This report can be customized to meet your requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.
