Industry: Healthcare
Published Date: April-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 480
Report ID: PMRREP3198
The Global Hospital Equipment and Supplies Market recorded a historic CAGR of 3.4% in the last 4 years and reached US$ 204.2 billion in 2022. The market is forecasted to expand at a CAGR of 4.8% and climb to a market valuation of US$ 339.2 billion by the end of 2033.
Increasing number of healthcare facilities, rising surgical procedural volume, and growing demand for disposable supplies to reduce the cases of hospital-acquired infections (HAIs) have driven global market growth to a great extent.
Hospital equipment and supplies are essential for the proper functioning of hospitals and clinics. They constitute various devices, instruments, and medical supplies used in hospitals and other healthcare facilities. They are used for various purposes, including treatment, disinfection, sterilization, transportation, and preliminary diagnosis of patients. The last few years have seen rapid growth in this market. Leading companies manufacturing medical supplies are introducing technologically advanced medical equipment to assist doctors in better managing their patients.
Medical equipment plays a vital role in hospitals and helps in the treatment of different medical conditions. Hospitals need quality medical supplies to provide high-quality patient care and save expenses. The disposable products category includes products such as gloves, syringes, wound care products, feeding tubes, surgical packs, and PPE kits, among others, which are widely employed in the healthcare industry. During the COVID pandemic demand for disposable items increased drastically to avoid unnecessary exposure to the virus.
The market is highly fragmented and numerous players are involved in developing cost-effective products to meet the growing demand from the healthcare industry. Market expansion is expected to create enormous opportunities for budding players seeking to be a part of the medical device sector.
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Hospital Equipment and Supplies Market Size (2023) |
US$ 212.5 Billion |
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Projected Market Value (2033) |
US$ 339.2 Billion |
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Global Market Growth Rate (2023 to 2033) |
4.8% CAGR |
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Market Share of Top 5 Countries (2022) |
60.5% |
“High Prevalence of Infectious & Chronic Diseases and Hospital-acquired Infections”
Healthcare is one of the most regulated industries. Globally, billions of surgical procedures and even more invasive medical procedures are performed each year. Governments play a very crucial role in improving healthcare quality and safety. Regulations are established by government authorities to check the quality of care, thus allowing public organizations such as hospitals to achieve improvements in the quality of health services.
Growth in health consciousness among people has enhanced the scope for disposable devices in the healthcare industry. Several benefits associated with medical disposable products, such as cost benefits, minimal sterilization, and low maintenance have made them preferred choices to be utilized in medical procedures. These products are inherently designed and produced to be partially or completely disposable.
Increasing number of HAI cases presents a major challenge to the healthcare industry. However, this growth directly leads to a proportional demand for disposable supplies that aid in the prevention of HAI. Healthcare organizations such as the Joint Commission on the Accreditation of Healthcare Organizations (JCAHO) and the Centers for Disease Control and Prevention (CDC) have been prompting various healthcare facilities to follow standards and protocols strictly, thereby preventing patients’ exposure to potential and life-threatening pathogens.
Increased demand for medical supplies has thus provided global as well as domestic manufacturers of medical supplies a chance to capitalize on the situation and ensure the continuous supply of medical consumables in the market.
“Stringent Government Regulations on Medical Equipment”
Stringent government regulations regarding medical supplies are a key factor that can delay the entry of hospital equipment and supplies into the market. Lack of health insurance and limited funding for purchasing medical equipment also limit market growth to some extent.
Medical devices vary greatly in terms of complexity and application. Various healthcare institutions face issues managing their regulation and reimbursement policies. With the increasing usage of disposable devices and products, effects toward reimbursement coverage and pricing policies & processes have greatly increased the need for attention from health authorities and other stakeholders.
Emerging countries such as China, India, and ASEAN countries do not have equitable arrangements to manage the reimbursement of sophisticated single-use devices (SUDs). Processes currently in place run the risk of encouraging the unfair practice that demands out-of-pocket payments from patients, alongside the dangerously unsafe practice of recycling devices. This is one of the major factors that might restrict market growth over the forecast period.
“Poor Medical Waste Management in Many Countries”
Healthcare waste, on the other hand, includes a substantial quantity of substances that are hazardous in nature. Poor healthcare waste management can result in serious environmental concerns as well as pose a risk to human health.
Healthcare facilities across many emerging countries lack proper waste management processes, including waste segregation, collection, storage and transportation, and waste disposal. Absence of waste management training programs and ignorance among staff and handlers lead to the unsafe handling of waste. Illegal and unsafe recycling, and the open dumping of hazardous hospital waste. This not only poses a threat to human health but also leads to environmental damage.
Why is the United States a Huge Market for Hospital Equipment and Supplies?
“Growing Surgical Procedure Volume and Increasing Number of Healthcare Facilities”
The United States held 33.2% share of the global market in 2022. The United States has the largest number of key manufacturers of disposable medical supplies in the world. This offers great potential for United States exporters of medical devices and equipment. Additionally, the number of surgical procedures in the country has been on a constant rise. Factors vary from the growing incidence of infectious and chronic diseases to increasing fracture cases, leading to increased demand for all types of hospital supplies and equipment.
Will Germany Be a Lucrative Market for Manufacturers of Hospital Equipment and Supplies?
“High Number of Manufacturers and Increasing Prevalence of Chronic & Infectious Diseases”
Germany held 6.2% share of the global market in 2022. Germany is the largest economy in Europe and the fourth-largest by GDP in the world. The country has a strong healthcare system and is one of the most lucrative markets for healthcare suppliers.
Of the 33 thousand medtech companies in Europe, Germany accounts for the largest share of firms. Companies such as Stryker, Zimmer Biomet, 3M, McKesson, Cardinal Health, and Johnson and Johnson, among many others, have their subsidiaries based out of Germany.
Increasing prevalence of diseases such as cancer, sexually transmitted diseases, and pneumococcal infections, among many others, is anticipated to increase hospital admissions, resulting in the growing demand for hospital equipment and supplies in the country.
Which Medical Product Accounts for High Revenue Generation?
“Disposal Products - Control Infections and Cross Contamination”
General disposable products held 17.2% of the global market share in 2022.
Medical disposables are products used only once during surgeries and other medical procedures to avoid the risk of infections (including HAIs). They do not require a long sterilization process and can be discarded post-surgery, preventing cross-contamination with other equipment as well as with patients. Increasing surgery volumes globally will lead to the demand growth for general disposable products.
Where are Hospital Equipment and Supplies Used the Most?
“Growing Cases of Cardiovascular Surgeries”
Cardiovascular diseases (CVDs) held 26.1% of the global market share in 2022 due to the high requirement for hospital supplies for the management and therapy of CVDs.
Cerebrovascular disease, rheumatoid heart diseases, and coronary heart disease are among the heart and blood vessel disorders known as CVDs. The medical treatment and management of CVDs employ high usage of medical supplies, especially disposable medical equipment.
Collaborations and new product launches are the top strategies being adopted by key players as a business growth strategy.
Similarly, the team at Persistence Market Research has tracked recent developments related to companies manufacturing hospital equipment and supplies, which are available in the full report.
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Attribute |
Details |
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Forecast Period |
2023 to 2033 |
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Historical Data Available for |
2017 to 2022 |
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Market Analysis |
US$ Million for Value |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Covered |
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Report Coverage |
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Customization & Pricing |
Available upon Request |
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The global hospital equipment and supplies market was valued at US$ 204.2 billion in 2022.
Sales of hospital equipment and supplies are set to reach a valuation of US$ 339.2 billion by 2033.
Demand for hospital equipment and supplies increased at 3.4% CAGR from 2017 to 2022.
The market for hospital equipment and supplies is projected to grow at a CAGR of 4.8% between 2023 and 2033.
The U.S., China, India, Germany, and the U.K. cumulatively accounted for 60.5% market share in 2022.
The U.S. accounted for 33.2% share of the global market in 2022.
Germany held 6.2% share of the global market in 2022.
