Demand for Hospital Supplies to Heighten with Severing Concerns over Hospital-Infections: Fact.MR

DUBLIN 2, Ireland - March 23, 2020 - PRLog -- Projected to surpass revenues worth US$ 21 Bn by 2029 end, the global hospital supplies market will continue to receive an impetus from the rising awareness of healthcare standards in developing economies. Statutory regulations for improving hospital hygiene standards present remunerative growth opportunities to market players. Major manufacturers are investing in R&D of recyclable hospital supply products to garner sustainable revenues, as suggested by a newly launched Fact.MR study.

"Major market players are focusing on M&A that enhance product portfolio and global footprint. Developing countries in Asia Pacific such as India, China, and Indonesia are prime target for manufacturers. Hospital supplies vendors are a key component of the value chain that can help organizations gain the competitive edge," uncovers the FactMR study.

Hospital Supplies Market – Key Takeaways

• Surgical packs remain bestsellers, with a substantial market value share.
• North America and Europe account for a massive 70% share of the total market value.
• East Asia and South Asia markets will register significant growth rates on the back of rising disposable income of millennials and surging demand for preventive care procedures.

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Hospital Supplies Market – Key Driving Factors

• Advancements in material science propagate the manufacturing of recyclable products and act as key growth driver.
• The rise in global healthcare spending continues to supplement the demand for hospital supply products.
• Easy access to medical procedure advancements around the world propel medical tourism and the resultant demand for hospital supplies to treat foreign patients.
• Surging cases of hospital-infection acts as central growth driver for recurring demand of hospital supplies.

Hospital Supplies Market – Key Restraints

• Stringent regulations pertaining to necessary approval of medical supply products tend to decelerate the growth of hospital supplies market.
• Increasing cases of recalls on the back of dis-satisfactory product quality dampen market growth.

Competitive Landscape
Competition among hospital supplies manufacturers is driven by eco-friendly product innovation and capacity expansion through strategic partnerships, mergers, and acquisitions. Hospitals and healthcare institutions are keen on buying recyclable hospital supplies in a bid to reduce their carbon footprint. Major market players that influence the competitive landscape are, but not limited to, Cardinal Health Inc., Molnlycke Health Care AB, Medline Industries Inc., Falcon Technologies International L.L.C., McKesson Corp., Avanos Medical Inc., B. Braun Melsungen AG, Ansell Healthcare LLC, Vygon SA, and Paul Hatmann AG.

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