Infections occurring due to the use of contaminated medical devices can be hazardous. According to the findings of a business report from IndustryARC, such incidents can be controlled significantly with disposable medical devices, and observes that the market for the same is flourishing too. The report has evaluated the global disposable medical devices market size already had a valuation of $190 billion in 2018, and the opportunities will grow at a compound annual growth rate (CAGR) of 3.80% during the forecast period of 2019 to 2025.
The report is titled “Disposable Medical Devices Market: Materials (Resin, Plastic, Rubber, Paperboard) Application (Wound Management, Laboratory, Respiratory Devices, Others) End-User (Hospitals, Clinics, Ambulatory Surgical Centers, Pathology Laboratories) & Geography – Forecast (2019 - 2025).” This report is inclusive of company overview, trends, growth drivers, financial overview, business strategies, and recent developments.
Disposable Medical Devices Market: Leading Segments
North America is the most lucrative region for the disposable medical devices market, cultivating 40% of the global demand in 2018. This colossal regional share is augmented due to huge investments by their government to upgrade the healthcare facility and growing sophisticated infrastructure for the same. Also, the rising awareness towards the harmful effects of contagious medical equipment is driving the growth of disposable medical devices market in the continent.
By application, the hospital end-user industry is the largest application in the global disposable medical devices market. The application is projected to witness a CAGR of 3.20% through to the end of aforementioned forecast period. This growth is rationalized by the increasing number of hospitals and care units all over the world. Furthermore, the increment in plague of diseases is pacing up the growth in the number of hospitals, which is significantly supporting the global disposable medical devices market.
Disposable Medical Devices Market Industry Analysis
According to the National Centre for Biotechnology Information , nearly 1.7 million hospitalized patients acquire health care-associated infections (HCAIs) annually during their treatment for other health issues, which leads to around 98,000 deaths every year. To prevent these instances, disposable medical devices are employed for medical testing such as insulin pumps, defibrillators, sterilization consumables, diagnostic supplies, dialysis consumables, and other surgical instruments. Rising surgical instances accompanied by dressing equipment is driving cyclic profits in the global disposable medical devices market.
Disposable Medical Devices Market Trends
· Disposable medical devices produced with organic and naturally disposable material are taking over conventional plastic and rubber based disposable medical devices. The growing awareness towards a natural and sustainable future has triggered the development of organic material-based disposable medical devices.
· Increasing cases of cosmetics surgery is also one of the important factors leading to lucrative growth opportunities in the disposable medical devices market. Surgical processes require numerous medical supplies such as gloves, drapes, gowns, and feeding tubes. The continuously increasing plastic surgeries around the world are projected to induce demands in the global disposable medical devices market.
Disposable Medical Devices Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the disposable medical devices market are Abbott Laboratories, Bayer AG, Becton, Dickinson, and Company, Cardinal Health Incorporated, Domtar Corporation, Medtronic plc, 3M Company, Braun (B.) Melsungen AG, Terumo Corporation, and Smiths Group plc.
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What can you expect from the report?
The disposable medical devices market report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product Categories & Application 11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant Market Data 12. Country level Analysis
3. Manufacturer Landscape 13. Competitor Analysis
4. Distributor Landscape 14. Market Shares Analysis
5. Pricing Analysis 15. Value Chain Analysis
6. Top 10 End user Analysis 16. Supply Chain Analysis
7. Product Benchmarking 17. Strategic Analysis
8. Product Developments 18. Current & Future Market Landscape Analysis
9. Mergers & Acquisition Analysis 19. Opportunity Analysis
10. Patent Analysis 20. Revenue and Volume Analysis
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