The medical supplies market is projected to reach USD 163.5 billion by 2027 from USD 138.4 billion in 2022, at a CAGR of 3.4% during the forecast period. The market growth drivers are the increasing prevalence of chronic diseases worldwide and increasing investments into medical research. The growth rate of the market is restrained by the product recalls and stringent regulatory standards for the medical supplies approvals.
The global medical supplies market is fragmented, with various companies contributing significantly to the market. The medical supplies market is fragmented in nature, with a large number of players offering a variety of products. The major players operating in this market are Medtronic, PLC. (Ireland), Cardinal Health (US), BD (US), Johnson & Johnson, Inc (US) and B. Braun Melsungen AG (Germany).
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Medtronic plc (Ireland) accounted for the largest share of the market in 2021. The company has a strong medical disposables and consumables portfolio that includes wound care consumables, medication delivery, as well as blood and specimen collection. The company focuses on product launches, acquisitions, and agreements to enhance its product portfolio.
Cardinal Health (US) held the second-largest share of the medical supplies market in 2021. The company has a wide product portfolio, including infection control products, patient care consumables, and wound management products.
BD (US) accounted for the third-largest share of the medical supplies market in 2021. The company’s medical supplies portfolio includes diabetes care consumables, infusion therapy products, and pharmacy products. The company focuses on expanding its presence in the market through product launches, approvals, agreements, expansions, and acquisitions.
Medical Supplies Market by Type (Diagnostic supplies, Dialysis Consumables, Disinfectants, Catheters, Radiology Consumables), Application (Urology, Cardiology, Radiology, IVD), End-User (Hospitals, Clinics & Physician Offices) - Global Forecast to 2027
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