Disposables Market to Reach US$193.9 Bn by 2018
As per a recent study by
Transparency Market Research, the global medical disposables market was worth
US$144.6 Bn and is anticipated to be worth US$193.9 Bn by the end of 2018,
growing significantly at a 4.30% CAGR between 2012 and 2018.
Rising demand for healthcare due
to the rising global aging population, rising prevalence of chronic conditions
that need long-time therapies, and expanding volume of inpatient days and
hospital admissions are some of the major factors boosting the demand for
medical disposables in the coming years. On the other hand, rigid FDA and GMP
approval norms and reduction in the prevalence of healthcare-associated
infections are the factors that are expected to curb the growth of this market
in the forecast period.
The market has been classified on
the basis of end use into home healthcare facilities, outpatient facilities,
emergency care, hospitals, and physician offices. Among these, the hospitals
segment is at the forefront of the U.S. medical disposables market. The demand
for medical disposables is anticipated to rise in hospitals, thanks to the
rising number of patient admissions, surgical procedures, and emergency visits.
It has been further segmented on
the basis of geography into North America, Asia Pacific, Europe, and Rest of the
World. Among all these regions, North America exhibited strong demand for all
product segments of the market in the recent years. The U.S. medical disposables
market held around 70% of the North America medical disposables market. In 2011,
and was accounted for the largest share of 35% in the global medical disposables
market. On the other hand, Asia Pacific is expected to witness rapid growth
owing to rising awareness for healthcare. Some of the other factors that are
expected to boost the demand for medical disposables in the Asia Pacific market
are the huge aging population, increasing disposable income, and rising
expenditure by governments on healthcare. The substantial rise of developing
nations such as China and India is anticipated to propel the Asia Pacific
medical disposables market.
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