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3. Acquisitions is the Most Adopted Growth Strategies by Key Players in the Medical Supplies Market

The medical supplies market is expected to reach USD 136.63 Billion by 2021 from USD 98.33 Billion in 2016, at a CAGR of 6.8% during the forecast period. Factors such as increasing incidence of hospital-acquired infections (HAIs), rising number of surgeries, increasing incidence of various diseases, and growing geriatric population are driving the growth of the market.

The market is fragmented in nature due to the presence of many large players. The prominent players in this market are Medtronic plc (Ireland), Cardinal Health, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Johnson & Johnson (U.S.), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (U.S.), Thermo Fisher Scientific Inc. (U.S.), Baxter International Inc. (U.S.), Halyard Health, Inc. (U.S.), and 3M Company (U.S.).

Medtronic plc (Ireland) held the leading position in the medical supplies market in 2015. The company focuses on product launches, acquisitions, and agreements to enhance its product portfolio. For instance, in April 2016, Medtronic plc launched the new Barrx 360 Express radiofrequency ablation (RFA) balloon catheter for the treatment of Barrett's esophagus. In February 2016, Medtronic plc acquired Bellco (Italy), a privately held company, primarily involved in the development and production of hemodialysis treatment solutions. This acquisition expanded the dialysis product portfolio of the company. In January 2016, Medtronic plc signed an insulin pump manufacturing agreement with the Chengdu municipal government in China to manufacture and deploy advanced diabetes therapies. Under this agreement, Medtronic invested in a manufacturing facility for the development of next generation sensor-augmented pump system with SmartGuard technology, which provides better diabetes management.

Cardinal Health, Inc. (U.S.) held the second position in the medical supplies market in 2015. The company also focuses on acquisitions as its key strategy to exploit growth opportunities in the market. For instance, in March 2015, Cardinal Health, Inc. acquired Johnson & Johnson's (U.S.) Cordis business, a global player in the cardiovascular and endovascular devices market. This acquisition of Cordis enhanced Cardinal Health's portfolio of diagnostic catheters used in cardiology and endovascular applications. In addition, in May 2014, Cardinal Health, Inc. acquired Access Closure (U.S.), a leading manufacturer and distributor of extravascular closure devices in the U.S., with a USD 320 million cash transaction.

Becton, Dickson and Company (U.S.) was ranked third in the medical supplies market in 2015. It focuses on expanding its presence in the market through product launches, agreements, expansions, and acquisitions. For instance, in December 2016, Becton, Dickson and Company launched the BD Neopak 2.25 mL prefillable glass syringe, which is specifically designed for biopharmaceutical manufacturers that develop and manufacture sensitive biologic drugs used in the treatment of chronic diseases such as psoriasis, rheumatoid arthritis, lupus, and severe asthma. In November 2016, Becton, Dickson and Company announced a new research collaboration supported by JDRF (U.S.), one of the leading global organizations that provide funds for type 1 diabetes (T1D) research. In March 2015, Becton, Dickson and Company completed its acquisition of CareFusion Corporation (U.S.), which manufactures medical supplies, devices, and laboratory equipment.

Related Reports:

Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Inhalation, Infection Control, Infusion, Intubation, PPE), Application (Anesthesia, Radiology, Sterilization) & End User (Hospital, Clinic, Nursing Home) - Global Forecast to 2021

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