Medtronic PLC (Ireland) and Cardinal Health, Inc. (US) are Leading Plyers in the COVID-19 impact on Medical Supplies Market
COVID-19 impact on the global medical supplies market size is projected to reach USD ~100 billion by 2021 from USD ~78 billion in 2020, at a CAGR of ~13.4%.
The global medical supplies market is fragmented. Medtronic plc (Ireland), Cardinal Health, Inc. (US), Becton, Dickson and Company (US), Johnson & Johnson (US), and B. Braun Melsungen AG (Germany), Fresenius Medical Care AG & Co. KGaA (Germany), Baxter International, Inc. (US), STERIS Corporation (US), Getinge Group (Sweden), Advanced Sterilization Products (US), 3M Company (US), Smith & Nephew (U.K.), and Mölnlycke Health Care AB (Sweden), are the key players operating in the market.
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Medtronic PLC (Ireland) was the key player in the medical supplies market. Medtronic is known for its diversified product offerings in the field of medical supplies. The company’s comprehensive product portfolio includes wound care supplies, medical delivery products, urology catheters, needles and syringes, blood and specimen collection, sharp disposal, diagnostics catheter, dialysis catheter, PPE, incontinence, surgical kits, intubation products. Over the years, the company has maintained its position in the market through continuous innovation and the launch of advanced products. In addition to this, Medtronics focuses on expanding its product portfolio and geographic presence by mergers and acquisitions. In line with this, in October 2019, Medtronic acquired AV Medical (Israel).
In 2019, the disinfectant segment was dominated by 3M Company(US), Reckitt Benckiser (US), Proctor & Gamble (US), The Colorax Company (US), STERIS Corporation (US). These companies together accounted for a larger share of the global disinfectant market in 2019. The other players include Diversey Inc. (US), Whiteley Corporation (US), Cetylite Industries, Inc. (US), PDI Healthcare (US), Hartmann Group (Germany, Johnson & Johnson (US), Metrex Research (US), Pal Internation (UK), CareFusion (US) among others. The short term strategy of key players in this market includes increasing manufacturing capabilities, designing and developing new emergency products, partnering with governments, and other private players to boost the production capacities.
In 2019, the sterilization consumables segment was dominated by 3M Company (US), Getinge Group (Sweden), Cantel Medical Corp. (US), and STERIS plc (US). In the past few years, these companies adopted product launches, product showcase, agreements, and expansions as their key business strategies to ensure market dominance. Cardinal Health, Inc. (US), Mesa Laboratories, Inc. (US), Propper Manufacturing Co. Inc. (US), PMS Healthcare Technologies (Turkey), Hu-Friedy Mfg. Co., LLC (US), and gke-GmbH (Germany) are some of the other players in this market. The usage of reprocessing equipment used to disinfect or sterilize is higher than normal during the pandemic. This
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COVID-19 impact on Medical Supplies Market by Type (Intubation, Personal Protective Equipment, Infusion, Radiology, Wound Care Supplies), End User (Hospitals, Clinics) - Global Forecast to 2021
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