Drivers

• Increase in the incidence of chronic diseases

The rise in the incidence of chronic diseases such as cardiovascular diseases and the availability of effective products of the companies involved in the R&D of medical disposables accelerate the market growth. The increase in the prevalence of hypertension, heart failure, heart attack, strokes, diabetic kidney disease, and other diseases further increases the risk of a heart attack or stroke, which results in a significant margin in the rise of medical disposables usage.

Prolonged diabetes leads to diabetic foot ulcers, which in turn increases the duration of hospital stay, rendering a positive impact on the market growth over the forecast period.

For instance, as per the International Diabetes Federation, the global prevalence of diabetes is expected to increase to 552.0 million by 2030.

• Rise in the geriatric population

Expanding geriatric population worldwide is predicted to favor medical disposables as this population is more prone to develop diseases. The number of persons above 65 years is projected to double in the coming years. Old-age people are prone to various chronic diseases such as cardiovascular diseases, endovascular diseases, and infectious disease, which can foster the demand for medical disposables cases across the globe.

According to the United Nations, there were around 382 million old age people aged 60 years or above across the globe in 2017 and this number is expected to reach 2.1 billion by 2050.

• Growing increasing hospital admissions across the globe

Increasing hospital admissions across the globe have significantly increased the demand for medical disposables. The WHO has appealed to industries and governments to increase the manufacturing of personal protective equipment, including hospital gowns, gloves, medical masks, face shields, aprons, respirators, and goggles by 40% to meet the increasing global demand. It also reported that the increase in demand for these accessories has increased their prices to a major extent.

For instance, the price of surgical masks has increased six-fold and the price of hospital gowns has increased two-fold. Furthermore, the WHO has shipped around half a million sets of personal protective equipment to around 47 countries.

Moreover, the demand for medical disposables is not only limited to developed countries but is also being witnessed in developing countries, which is further expected to drive market growth.

Opportunity

• Increasing health and hygiene consciousness among the masses

The increasing health and hygiene consciousness among the masses is expected to provide opportunities for market growth. Moreover, the augmenting adoption of bioplastics due to the rising environmental concerns and the expanding geriatric population susceptible to developing various chronic illnesses are further expected to create immense opportunities for market growth. 

The global medical disposables market is analyzed and market size insights and trends are provided by country, product outlook, raw material, and end-user.

North America is expected to dominate the global medical disposables market due to the rising awareness of the usage of medical disposables, the increasing number of surgeries, and the presence of key market players in this region.

Asia-Pacific is expected to grow at the highest growth rate during the forecast period of 2023 to 2030 owing to the increased geriatric population and growing healthcare expenditure in the region.

• Smith+Nephew (U.K.)
• Shanghai Neo-Medical Co., Ltd. (China)
• Procter & Gamble (U.S.)
• Principle Business Enterprises, Inc. (U.S.)
• Ontex (Belgium)
• Medtronic (Ireland)
• Nu-Life Medical & Surgical Supplies Inc. (Canada)
• Narang Medical Limited. (U.S.)
• Molnlycke Health Care (Sweden)
• Mellon Medical B.V. (Netherlands)
•  MedGyn Products, Inc. (U.S.)
• MED-CON Inc. (U.S.)
• 3M (U.S.)
• Cardinal Health (U.S.)
• Bayer AG (Germany)
• Medline Industries, Inc. (U.S.)
• BD (U.S.)
• AMMEX Corp. (U.S.)
• Ansell Ltd (Australia)