Acquisitions and Expansions-Major Growth Strategies Adopted by Key Players in the Surgical Drapes and Gowns Market
The surgical drapes and gowns market is expected to reach USD 3.14 Billion by 2023 from USD 2.47 Billion in 2018, at a CAGR of 4.9%. Factors driving the growth of this market include the increasing number of surgeries and growing incidence of hospital-acquired infections.
The surgical drapes and gowns market is consolidated in nature due to the presence of a large number of players. The key players in the market are Cardinal Health (US), 3M (US), Thermo Fisher Scientific Inc. (US), Steris plc (US), Mölnlycke Health Care (Sweden), and Paul Hartmann AG (Germany).
The key strategies followed by most companies in the surgical drapes and gowns market are acquisitions and expansions. These strategies accounted for the largest share of the overall growth strategies mapped from 2015 to 2018. Some of the leading players who adopted this strategy include Steris Corporation (US), Mölnlycke Health Care AB (Sweden), and Guardian (UK)
In 2016, Cardinal Health accounted for the largest share of the surgical drapes and gowns market. The company has a wide range of products, covering all major technologies in surgical drapes and gowns. Cardinal Health offers diversified nonwoven products for the prevention of surgical site infection. The company further strengthened its position in this market by offering extended products with new technologies.
In 2016, 3M accounted for the second-largest market share of the surgical drapes and gowns market. The company operates through five segments-Industrial, Safety and Graphics, Healthcare, Electronics & Energy, and Consumers. 3M offers surgical drapes and gowns through its Healthcare segment The company primarily focuses on developing technologically advanced surgical gowns in order to sustain its position in this market.
Mölnlycke ranked third in the surgical drapes and gowns market in 2016. The company has a strong product line to offer to the surgical drapes and gowns market. It also has a strong brand image which helps the company to widen its customer base. Moreover, the company is focused on the organic strategies such as expanding its manufacturing plants in order to expand its business over the geographical areas. For instance, the company started a new manufacturing and converting facility in Brunswick, Maine in 2014. The products of the company are available across geographies.
Related Reports:
Surgical Drapes and Gowns Market by Type (Drapes (Cardiovascular, General Surgery, C- Section, Lithotomy, Laparoscopy, Ophthalmic), Gown (Standard, Reinforced, High-Performance)), Utility (Reusable, Disposable), End User (Hospital) - Global Forecast to 2023
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