The Medical Disposables Market is estimated to grow at a significant CAGR of 6.5% over the forecast period as the scope and its applications are rising enormously across the globe. Growing occurrence of chronic diseases, high demand for enhanced healthcare facilities, increasing geriatric population, and government initiatives for improvement of quality of patient care are documented as major factors of Medical Disposable Market that are estimated to enhance the growth in the years to come. However, strict approval policy by FDA and GMP may restrain overall market growth in the years to come. Medical Disposables industry is segmented based on product type, material, end user, and region.
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Respiratory disposables, surgical and non-woven disposables, laboratory disposables, wound disposables, and incontinence disposables are the product types that could be explored in Medical Disposables in the forecast period. Surgical and non-woven disposables comprise surgical caps, disposable syringes, patient bed sheets, catheters, forceps, infusion pumps, surgical suture, blood transfusion sets, scissors, and disposable gloves. Glass, plastic resins, metals, nonwoven material, paper & paperboard, rubber, and other raw materials could be explored in Medical Disposables in the forecast period.
The market may be categorized based on end users like physician offices, healthcare facilities, hospitals & clinics, outpatient facilities, emergency care, ambulatory surgical centers, and others. Hospital sector accounted for the substantial market share of Medical Disposables in 2014 and is estimated to lead the overall market in future. This may be because of growing number of patients, emergency visits, and surgical procedures.
Globally, North America accounted for the significant market share of Medical Disposables and is estimated to lead the overall market in the years to come. The reason behind the overall market growth could be presence of developed healthcare infrastructure, rising awareness among populace regarding effects of cross-contamination and infection, and growing acceptance of enhanced technology. The United States is a major consumer of Medical Disposables in this region.
Instead, Europe and the Asia Pacific are also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share. However, Asia Pacific is estimated to grow at the fastest pace in the foremost period. The aspects that may be ascribed to the growth comprise an alarming number of major manufacturers in this region and improvising on healthcare infrastructure. The developing countries like India and China are the major consumers of Medical Disposables in this region.
The key players of Medical Disposables Market are Covidien plc, Dickinson and Company, Johnson & Johnson,3M Company, and Becton. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
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