Global COVID-19 Impact on Medical Supplies Market

 
PUNE, India - March 31, 2021 - PRLog -- The global COVID-19 impact on medical supplies market accounted for US$ 78.3 billion in 2019 and is estimated to register a CAGR of 14.3% in 2019-2021

The market for medical supplies is driven mainly by increasing awareness on environmental & personal hygiene leading to the growing demand for disinfectants, development of healthcare settings due to growing COVID 19 patients, rising demand for ventilators, increased requirement of PPE kits & N95 masks globally, and swelling demand for diagnostic supplies.

The report "Global COVID-19 Impact on Medical Supplies Market, By Type (Diagnostic Supplies, Disinfectants, Intubation & Ventilation Supplies, Personal Protection Equipment, Sterilization Supplies, Infusion & Injectable Suppliers, Dialysis Consumables, Wound Care Supplies, Radiology Supplies, and Other Medical Supplies), By End-user (Hospitals & Clinics, Ambulatory Care, and Home Setting), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2025".

Key Highlights:
  • In March 2020, Medtronic PLC has increased its ventilator production by more than 40% and is on track to more than double its capacity to manufacture and supply ventilators in response to demand triggered by COVID-19. Medtronic produces ventilators for a variety of care settings, including the acute segment (in-hospital patients in intensive care units, emergency departments, or on the general care floors) and the sub-acute segment (out of hospital, long-term care facilities or home-ventilated patients). The company manufactures the Puritan Bennett 980 (PB 980) and Puritan Bennett 840 (PB 840) ventilators in Galway, Ireland, which are primarily designed for critically ill patients in high acuity settings.
Analyst View:

The rise in demand drives the market for medical supplies

Owing to the spread of the COVID-19 pandemic, there has been a surge in the demand for N95 masks, PPE kits, and ventilators across the globe. This surge in demand positively influences the global medical supplies market. The widespread of the disease has created a severe shortage of medical resources in the front line. This shortage of medical supplies worldwide has pushed numerous non-pharmaceutical companies to produce various medical products. For Instance, in April 2020 SanTan Brewing based in Arizona, US repurposed its beer production line to produce hand sanitizers. The company manufactured 400 gallons of medical-grade hand sanitizers in the same month. Whereas in March 2020, Pernod Ricard's Facility in the US which eventually manufactures Malibu Coconut Rum and Seagram's Rin started producing 1000 gallons of hand Sanitizer.

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Competitive Landscape:

Medtronic plc, Johnson & Johnson, Cardinal Health, Inc., B. Braun Melsungen AG, Fresenius Medical Care AG & Co. KGaA, Becton, Dickson and Company, Baxter International, Inc., STERIS Corporation, Getinge Group, and Advanced Sterilization Products.

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Tags:Medical Supplies
Industry:Health
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