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(Health-NewsWire.Net, March 26, 2020 ) The dialysis consumables segment is projected to register the highest CAGR during the forecast period. The major factors contributing to the growth of this Medical Supplies Market include increasing patient pool for renal diseases, rising incidence of diabetes and hypertension, growing geriatric population, and increasing adoption of dialysis procedures over kidney transplantations.
The increasing patient pool for renal diseases is the key driver for the global dialysis supplies market
According to Baxter International, Inc. (U.S.), 3.6 million dialysis and transplanted patients were reported in 2015; this is expected to reach over 4.6 million by 2020. In addition, in the U.S. alone, the number of ESRD cases is expected to reach 785,000 by 2020, due to the addition of ~151,000 patients per year, an increase of 60% as compared to 2005 [Source: The United States Renal Data System]. In addition, the increasing incidences of diabetes and hypertension; rising geriatric population; and increasing adoption of dialysis procedures over kidney transplantations are also supporting the growth of this market.
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Market Dynamics - Drivers:
- Rising Incidence of Diseases
- Growing Geriatric Population
- Increasing Incidence of Hospital-Acquired Infections
- Growth in the Number of Surgical Procedures
Research Methodology
Top-down and bottom-up approaches are used to estimate and validate the size of the market and the size of various other dependent submarkets. The overall market size was used in the top-down approach to estimate the sizes of other individual submarkets (mentioned in the market segmentation by type, application, and end user) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.
Market Segmentation:
Based on application, the market is segmented into urology, wound care, radiology, anesthesia, sterilization, cardiology, ophthalmology, and other applications. The anesthesia segment is expected to register the highest growth during the forecast period. The high growth in this segment is attributed to the increasing number of surgical procedures being performed across the globe and the rising incidence of respiratory diseases.
Based on end user, the market is segmented into hospitals, clinics, assisted living centers and nursing homes, ambulatory surgery centers (ASCs), and other end users. The hospitals segment is expected to register the highest CAGR during the forecast period. The high growth of this segment is attributed to the increasing investment in healthcare systems, growing prevalence of HAIs, and high incidence of chronic diseases across the globe.
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The major players in the medical supplies market include Becton, Dickinson and Company (U.S.), Boston Scientific Corporation (U.S.), Johnson & Johnson (U.S.), 3M Company (U.S.), Medtronic plc (Ireland), B. Braun Melsungen AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Cardinal Health, Inc. (U.S.), Baxter International Inc. (U.S.), and Halyard Health, Inc. (U.S.).
The medical supplies market was dominated by North America, followed by Europe, Asia, and the RoW. However, Asia is projected to be the fastest-growing region in the forecast period, owing to factors such as the rising geriatric population, increasing incidence of various diseases, growing medical tourism industry, and improving healthcare infrastructure.
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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