Medical Supplies Market Comprehensive Review of its Applications Growth Opportunities and Future Prospects

Medical supplies are the medical instrument and device supplies, that are used in various medical centers, medical institutions and hospitals. Various medical instruments and devices include thermometers, glucose meters, blood processing devices, wound care instruments and accessories, and monitoring systems. The demand for the medical supplies is experiencing an increasing trend since the market players are introducing technically advanced medical supplies that can aid medical professionals to handle their patients in a better way. The outpatient facilities and hospitals are adopting strict policies towards infection- prevention for better care of the patient, which is driving the growth of the market.

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Based on application, the global medical supplies market is segmented into urology, ophthalmology, radiology, anesthesia, sterilization, cardiology, wound care and others. Anesthesia was the largest application in 2016 due to increase in the number of surgical procedures performed and rise in respiratory diseases.

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Based on type, the global medical supplies market is categorized into sterilization consumables, personal protective equipments (PPE), infusion products, radiology consumables, wound care consumables, diagnostic supplies, inhalation products, dialysis consumables, infection control supplies, intubation and ventilation supplies, hypodermic products, and other supplies. Among different types of medical supplies, dialysis consumable segment is expected to witness the fastest growth during the forecast period (2017-2023) due to increase in renal disease cases, rise in diabetic patients and aging population.

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One of the latest trends observed in the global scar treatment market is that the leading players in the market are focusing on the acquisition of other companies, mainly to grow their share in the global market. In December 2016, Baxter International Inc. acquired Claris Injectables, a wholly owned subsidiary of Claris Lifesciences, a sterile injectable pharmaceutical company, for $625.0 million to expand its product portfolio. Similarly, in March 2017, Boston Scientific Corporation announced an agreement to acquire Symetis SA, a medical technology company that develops and manufactures transcatheter aortic valve implantation (TAVI) devices for minimally invasive heart valve replacement.

Geographically, North America holds the major market share of the global medical supplies market due to increasing aging population and presence of key market players in this region. The U.S. has almost 11,000 medical supplies companies and is home to the medical supplies market leaders such as Johnson & Johnson, Medtronic, Boston Scientific Corporation and Baxter International. It imports medical supplies from Mexico, Ireland and China and exports to Canada and Japan. However, Asia-Pacific is the fastest growing medical supplies market followed by Europe because of the rise in aging population, increase in the cases of various diseases, rising medical tourism industry, and improvement in the infrastructure of healthcare industry.

Global medical supplies market is highly competitive and major players are acquiring smaller players to increase their market share. The key players in the global market are Boston Scientific, Medtronic plc, Baxter International Inc., Johnson & Johnson. Other players in this market are Cardinal Health Inc., Halyard Health Inc., Thermo Fisher Scientific, B. Braun, Becton, Dickinson and Company, and 3M Company.

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