Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2019 |
| CAGR: | 11.5 % |
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Market Overview
The factors attributing to the high market growth for hospital supplies in North America are the increasing burden of infectious diseases and hospitalization.
Additionally, the growing prevalence of hospital-acquired infections is expected to drive market growth. According to the Centres for Disease Control and Prevention, in 2017, around 3,679 hospitals were reported with catheter-associated urinary tract infections in the United States. Thus, it is expected to drive the growth of the hospital supplies market in the North American region.
However, many healthcare organizations are now partnering with traditional home healthcare services and also 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 the availability of reimbursement by the federal agencies in developed countries, like the United States, is expected to hinder the market growth for the hospital supplies market.
Scope of the report
Hospital supplies include every medical utility product that serves both the patient and medical professional within the hospital infrastructure and enhance the network and transportation between hospitals. These include hospital equipment, patient aid, mobility equipment, and sterilization disposable hospital supplies.
Key Market Trends
Disposable Supplies Segment is Projected to have Notable Growth Rate
The disposable hospital supplies segment, followed by the syringes and needles segment, contributes the largest share to the overall market.
The disposable hospital supplies are one-time use products, such as consumables, medical apparatus, and disposable devices, which are consumed in large figures across all hospitals. These products, such as suction catheters, bandages and wraps, exam gowns, surgical sponges, face masks, hypodermic needles, gloves, and needles, are in continuous use to all hospital professionals in any domain, from cleaning to surgical theaters, as well as administrative departments, in some cases.
According to 2019 data by the American Health Association, there were approximately 36.5 million hospital admissions in 2017. Many of these procedures were due to chronic diseases and critical procedures, like heart bypass surgery. There is an increase in the number of hospitalizations due to chronic diseases. This, in turn, is leading to an increase in the duration of hospital stay further expected to disposable hospital supplies segment over the forecast period.
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Competitive Landscape
Major Players operating in the North America hospital supplies market include Johnson & Johnson, Becton Dickinson and Company, Cardinal Health, Inc., Medtronic, The 3M Company, and B. Braun Melsungen AG, among others. he increasing innovation and rise in investment for various public and private organizations are expected to intensify the industry rivalry across the world. They are also collaborating with other players, to develop and promote their product, and thus, gain recognition in the North American hospital supplies market.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Spending On Healthcare
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4.2.2 Increasing Occurrences of Infectious Diseases
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4.3 Market Restraints
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4.3.1 Emergence of Home Care Services
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4.3.2 Drop in Private Health Insurance
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4.4 Porter's Five Forces Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Product
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5.1.1 Patient Examination Devices
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5.1.2 Operating Room Equipment
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5.1.3 Mobility Aids and Transportation Equipment
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5.1.4 Sterilization and Disinfectant Equipment
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5.1.5 Disposable Hospital Supplies
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5.1.6 Syringes and Needles
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5.1.7 Other Products
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5.2 Geography
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5.2.1 North America
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5.2.1.1 United States
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5.2.1.2 Canada
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5.2.1.3 Mexico
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Johnson & Johnson
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6.1.2 Baxter International
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6.1.3 Becton Dickinson And Company
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6.1.4 Cardinal Health Inc.
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6.1.5 Johnson & Johnson
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6.1.6 The 3M Company
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6.1.7 Stryker Corporation
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6.1.8 Medtronic PLC
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6.1.9 General Electric Company
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6.1.10 B. Braun Melsungen AG
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The North America Hospital Supplies Market market is studied from 2018 - 2026.
What is the growth rate of North America Hospital Supplies Market?
The North America Hospital Supplies Market is growing at a CAGR of 11.5% over the next 5 years.
Who are the key players in North America Hospital Supplies Market?
B Braun Melsugen AG, The 3M Company, Cardinal Health, Boston Scientific Corporation, GE Healthcare are the major companies operating in North America Hospital Supplies Market.
