Medical Supplies Market

Medtronic (Ireland) and Cardinal Health, Inc. (US) are leading players in Medical Supplies Market

The global medical supplies market is projected to reach USD 133.5 billion by 2025 from USD 132.6 billion in 2020, at a CAGR of 4.6% during the forecast period. The growth of this market is driven by the increasing prevalence of chronic diseases across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, rising demand for infection control measures to curb the occurrence of HAIs, and the rising demand for medical devices.

The prominent players operating in the global medical supplies market include Medtronic (Ireland), Cardinal Health, Inc. (US), BD (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (US), Baxter International, Inc. (US), Avanos Medical, Inc. (US), 3M (US), Smith & Nephew (Ireland), ConvaTec Group Plc. (UK), Abbott (US), Cook Medical (US), Merit Medical Systems (US), Stryker (US), Terumo Corporation (Japan), Teleflex Incorporated (US), Fresenius Medical Care AG & Co. KGaA (Germany), and Coloplast Group (Denmark).

The players in this market mainly focus on product launches/approvals, expansion, collaborations, partnerships, and acquisitions to develop and expand their market presence between 2017 and 2020.

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Medtronic (US)

Medtronic (US) is among the leaders in the global medical supplies market. The company has a strong medical disposables and consumables portfolio that includes wound care consumables (bandages, dressings, sponges, medical tapes, and adhesives), medication delivery disposables (needles, syringes, and cannulas), urology disposables (drainage bags and catheters), and blood and specimen collection consumables (collection syringes & needles and containers), among other products. The company focuses on organic growth strategies such as product launches and approvals to enhance its product portfolio. For instance, in February 2018, Medtronic plc launched the MiniMed Mio Advance infusion set.

Cardinal Health (US)

Cardinal Health (US) is another leading player in the medical supplies market. The company has a wide product portfolio, including infection control products (surgical drapes and gowns, surgical and procedural masks, infection control apparels, antiseptics, and housekeeping supplies, among other products), patient care consumables (conventional needles and syringes, prefilled syringes, and ice bags, among other products), and wound management products (bandages, pads, sponges, bathing wipes, medical and surgical tapes, and wound closure products), among other products. Over the last few years, the company made some strategic acquisitions to leverage the growth opportunities in the medical supplies market. For instance, in July 2017, Cardinal Health, Inc. acquired Medtronic’s Patient Care, Deep Vein Thrombosis and Nutritional Insufficiency business for USD 6.1 billion. This acquisition has helped Cardinal Health to provide around 23 product categories across multiple market sites, including numerous industry-leading brands such as Curity, Kendall, Dover, Argyle, and Kangaroo (brands used in nearly every US hospital).

Related Reports:

Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Disinfectants, PPE, Radiology, Sterilization, Catheters), Application (Urology, Cardiology, Infection Control), End User (Hospitals, Clinics & Physician Offices) - Global Forecast to 2025

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Report Code
MD 5135
RI Published ON
5/28/2020
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