Global Hospital Equipment and Supplies Market Size By Product Type (Sterilization Consumables, Wound Care Products), By Application (OEMs, Aftermarket), By End-User (Hospitals, Clinics), By Geographic Scope and Forecast
Report ID: 17993|No. of Pages: 202
Global Hospital Equipment and Supplies Market Size By Product Type (Sterilization Consumables, Wound Care Products), By Application (OEMs, Aftermarket), By End-User (Hospitals, Clinics), By Geographic Scope and Forecast
Hospital Equipment And Supplies Market Size And Forecast
Hospital Equipment and Supplies Market size was valued at USD 44 Billion in 2024 and is projected to reach USD 110.58 Billion by 2031, growing at a CAGR of 12.21% from 2024 to 2031.
- Hospital equipment and supplies constitute an indispensable component of contemporary healthcare delivery, facilitating the diagnosis, treatment, and care of patients.
- These specialized items encompass a diverse range of medical devices and consumables, including diagnostic tools, surgical instruments, patient care equipment, laboratory supplies, and disposable items.
- Reliable and high-quality equipment and supplies are paramount to ensuring patient safety and preventing medical errors.
- Access to advanced medical equipment and supplies is crucial for providing effective diagnosis and treatment.
- Modern hospital equipment and supplies can enhance efficiency and productivity, leading to improved patient outcomes and reduced costs.
- By investing in high-quality equipment and supplies, hospitals can enhance patient outcomes, boost efficiency, and contribute to a more advanced healthcare system.
Global Hospital Equipment and Supplies Market Dynamics
The key market dynamics that are shaping the global hospital equipment and supplies market include:
Key Market Drivers
- Rising Technological Integration in Healthcare Operations: The integration of advanced medical technologies has transformed hospital operations, with the WHO reporting a 45% increase in AI-enabled medical device adoption across global healthcare facilities in Q1 2024.
- Growing Aging Population Propelling Medical Equipment Demand: The escalating elderly population continues to drive hospital equipment needs, with the UN Health Division reporting that 19% of Europe’s population is now over 65, expected to reach 28% by 2030. Philips Healthcare responded by expanding its elderly care equipment line in April 2024, launching specialized mobility and monitoring solutions.
- Dominating Infection Control Requirements: Post-pandemic infection control remains paramount, with the CDC reporting a 25% increase in hospital-acquired infection prevention equipment spending in 2024’s first quarter. Steris Corporation’s April 2024 release of next-generation UV-C disinfection robots across 1,500 hospitals highlights this trend.
- Propelling Surgical Procedures Growth: The surgical equipment segment is experiencing unprecedented demand, with the American College of Surgeons reporting a 35% increase in minimally invasive procedures in early 2024. Stryker’s February 2024 launch of its robotic surgery platform in 800 new hospitals underscores this trend.
Key Challenges:
- Rising Costs Hindering Affordability: The cost of medical equipment and supplies has been on the rise in recent years, driven by factors such as technological advancements, regulatory requirements, and increased demand. This can make it challenging for healthcare facilities, particularly in resource-constrained regions, to acquire necessary equipment and supplies.
- Complex Regulatory Landscape Hampering Market Expansion: The medical device and equipment industry is subject to a complex regulatory environment, with stringent requirements for safety, efficacy, and quality. Compliance with these regulations can be time-consuming and costly, hindering market entry for new products.
- Technological Advancements Challenging Market Dynamics: Rapid advancements in medical technology are constantly introducing new and innovative equipment and supplies. Keeping up with these advancements can be challenging for healthcare facilities, as it requires investments in new equipment and staff training.
- Supply Chain Disruptions Obstructing Market Stability: The global supply chain for medical equipment and supplies can be vulnerable to disruptions, such as those caused by natural disasters, geopolitical events, or economic downturns. These disruptions can lead to shortages of essential items, increased costs, and delays in patient care.
Key Trends
- Rising Emergency Care Infrastructure Development: Emergency care infrastructure expansion continues rapidly, with the World Bank reporting a 40% increase in emergency department equipment investments across developing nations in Q1 2024. Abbott’s March 2024 deployment of portable diagnostic units in 2,000 emergency departments worldwide exemplifies this trend.
- Growing Diagnostic Equipment Sophistication: Diagnostic equipment advancement remains crucial, with the FDA reporting a 55% increase in AI-integrated diagnostic device approvals in early 2024. Canon Medical’s March 2024 release of quantum computing-enabled imaging systems in 300 hospitals represents this evolution.
- Dominating Patient Monitoring Systems Evolution: Patient monitoring systems continue to evolve, with the European Medical Device Association reporting a 50% surge in wireless monitoring device adoption in Q1 2024. Mindray’s February 2024 introduction of cloud-based patient monitoring solutions in 1,800 hospitals demonstrates this trend.
- Propelling Sustainability Initiatives: Environmental consciousness in healthcare equipment is gaining momentum, with the Healthcare Climate Council reporting a 30% increase in hospitals adopting green medical equipment in early 2024. B. Braun’s April 2024 launch of its eco-friendly medical supply line, reducing plastic usage by 40%, exemplifies this trend.
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Global Hospital Equipment and Supplies Market Regional Analysis
Here is a more detailed regional analysis of the global hospital equipment and supplies market:
North America
- The North American hospital equipment and supplies market maintains its dominating position, primarily driven by robust healthcare infrastructure, high healthcare expenditure per capita, and rapid adoption of advanced medical technologies.
- for instance, in March 2024, Medtronic, a leading market player, announced the expansion of its manufacturing facility in Puerto Rico with a $150 million investment to boost production of essential hospital supplies.
- The market’s growth is sustained by aging demographics, with the U.S. Census Bureau projecting that adults aged 65 and older will exceed 80 million by 2040, creating sustained demand for hospital equipment.
- The ongoing technological integration in healthcare delivery systems has also spurred growth, as evidenced by GE HealthCare’s January 2024 launch of their AI-powered patient monitoring systems across major North American hospitals.
- In addition to this, rigorous regulatory standards and increased focus on infection control measures post-pandemic have led to heightened demand for sophisticated medical supplies and equipment, contributing to the region’s market leadership.
Europe
- The European region is projected to experience a rapid CAGR growth during the forecast period, driven by the significant investment in healthcare infrastructure modernization, coupled with the rapid adoption of smart hospital technologies, has created a robust market environment.
- This surge is primarily driven by Siemens Healthineers’ March 2024 launch of its €2.5 billion European Innovation Campus in Munich, focusing on AI-integrated medical devices.
- The regional expansion is particularly notable in Northern Europe, where the Nordic Healthcare Council’s latest report indicates that 85% of hospitals have implemented advanced robotics and automation systems, marking a 25% increase from 2023.
- Contributing to this momentum, GE Healthcare’s April 2024 partnership with leading European hospital groups to provide AI-powered diagnostic solutions across 20 countries has strengthened the technological infrastructure.
- Braun’s recent €700 million investment in March 2024 to expand its sustainable medical supplies production facilities across Germany, France, and Spain exemplifies the market’s strong growth trajectory and commitment to environmental sustainability.
Global Hospital Equipment and Supplies Market: Segmentation Analysis
The Global Hospital Equipment and Supplies Market is segmented based on Product Type, Application, End-User, and Geography.
Hospital Equipment and Supplies Market, By Product Type
- Sterilization Consumables
- Wound Care Products
- Dialysis Products
- Infusion Products
- Others
Based on Product Type, the Global Hospital Equipment and Supplies Market is bifurcated into Sterilization Consumables, Wound Care Products, Dialysis Products, Infusion Products, Others. The sterilization consumables segment is dominating the hospital equipment and supplies market, driven by the increasing demand for sterile medical devices and supplies to prevent infections and ensure patient safety. However, the wound care products segment is experiencing rapid growth, fueled by advancements in wound care technology and the rising prevalence of chronic diseases and surgical procedures.
Hospital Equipment and Supplies Market, By Application
- OEMs
- Aftermarket
Based on Application, the Global Hospital Equipment and Supplies Market is bifurcated into OEMs and Aftermarket. The OEM (Original Equipment Manufacturer) segment is currently dominating the hospital equipment and supplies market, driven by the need for hospitals and healthcare facilities to purchase new equipment for their operations. However, the aftermarket segment is experiencing rapid growth, as hospitals and healthcare facilities seek to replace or upgrade existing equipment and reduce costs.
Hospital Equipment and Supplies Market, By End-User
- Hospitals
- Clinics
- Ambulatory Surgical Centres
- Diagnostic Centres
- Others
Based on End-User, the Global Hospital Equipment and Supplies Market is bifurcated into Hospitals, Clinics, Ambulatory Surgical Centres, Diagnostic Centres, Others. The hospital segment maintains a dominant position within the hospital equipment and supplies market, driven by the comprehensive range of equipment and supplies necessitated for inpatient care and intricate medical procedures. However, the ambulatory surgical centers segment is witnessing rapid growth, fueled by the escalating demand for outpatient surgeries and the requisite specialized equipment and supplies within these facilities.
Hospital Equipment and Supplies Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
Based on Geography, the Global Hospital Equipment and Supplies Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The North American hospital equipment and supplies market maintains its dominating position, primarily driven by robust healthcare infrastructure, high healthcare expenditure per capita, and rapid adoption of advanced medical technologies. However, the European region is projected to experience rapid CAGR growth during the forecast period, driven by the significant investment in healthcare infrastructure modernization, coupled with the rapid adoption of smart hospital technologies, has created a robust market environment.
Key Players
The “Global Hospital Equipment and Supplies Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are GE Healthcare, Covidien, Thermo Fischer and Scientific, Boston Scientific Corporation, B. Braun Melsungen AG, 3M Health Care, Becton Dickinson and Company, Cardinal Health, Kimberly-Clark Corporation, Advanced Sterilization Products Services Inc.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Global Hospital Equipment and Supplies Market Key Developments
- In March 2022, targeting various application situations, Datasea Inc. introduced Ultrasonic Sound Sterilization and Antivirus Equipment with plans to introduce acoustic intelligence solutions in the US market.
- In March 2022, the AESCULAP Aicon Sterile Container System was introduced by Aesculap, Inc. Wet sets are less likely because to the new container’s characteristics that help speed procedures.
Report Scope
| Report Attributes | Details |
|---|---|
| Study Period | 2021-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2021-2023 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | GE Healthcare, Covidien, Thermo Fischer and Scientific, Boston Scientific Corporation, B. Braun Melsungen AG, 3M Health Care, Becton Dickinson and Company, Cardinal Health, Kimberly-Clark Corporation, Advanced Sterilization Products Services Inc. |
| Segments Covered | By Product Type, By Application, By End-User, and By Geography |
| Customization Scope | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
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Frequently Asked Questions
1. Introduction of Global Hospital Equipment and Supplies Market”
•Overview of the Market
•Scope of Report
•Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Research
•Data Mining
•Validation
•Primary Interviews
•List of Data Sources
4. Global Hospital Equipment and Supplies Market Outlook
•Overview
•Market Dynamics
?Drivers
?Restraints
?Opportunities
•Porters Five Force Model
•Value Chain Analysis
5. Global Hospital Equipment and Supplies Market, By Product
•Sterilization and disinfectant equipment
•Disposable hospital supplies patient examination devices
•Syringes and needles.
6. Global Hospital Equipment and Supplies Market, By Application
•OEMs
•Aftermarket
7. Global Hospital Equipment and Supplies Market, By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Rest of Asia Pacific
• Rest of the World
o Latin America
o Middle East & Africa
8. Global Hospital Equipment and Supplies Market Competitive Landscape
•Overview
•Company Market Ranking
•Key Development Strategies
9. Company Profiles
•GE healthcare
•Covidien
•Thermo Fischer and Scientific
•Boston Scientific Corporation
•B. Braun Melsungen AG
•3M Health Care
•Becton Dickinson and Company
•Cardinal Heath
•Kimberly-Clark Corporation
•Advanced Sterilization Products Services Inc.
•Molnlycke Health Care AB
•Steris Corporation
•Stryker Corporation
•Terumo Corporation and Getinge AB
•Johnson & Johnson
•Baxter International
10. Appendix
•Related Reports
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Industry Analysis Matrix
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