The Asia Pacific hospital supplies market size was USD 2464.08 Billion in 2022 and is likely to reach USD 4568.36 Billion by 2031, expanding at a CAGR of 7.1% during 2023 – 2031. The growth of the market is attributed to the increasing awareness about hospital acquired infections (HAIs).
A hospital is a healthcare institution that provides patient treatment with specialized nursing staff, medical equipment, and hospital supplies. Hospital supplies include medical equipment and devices, which are supplied to various medical centers, medical institutions, and hospitals for their daily operation.
Hospital supplies constitute medical utility products that serves both patients and medical professionals within the hospital infrastructure. These include hospital equipment, patient aids, transportation & mobility equipment, sterilization & disinfectants, disposable hospital supplies, patient examination devices, operating room equipment, and syringes & needles.
Injection products consist of painless and needle-free injections, which are replacement to conventional injections for faster delivery of drugs, hormone treatments, insulin, and vaccines. Painless injections include microneedle patches to deliver drugs to a patient’s body.
Microneedle patches are skin-patches equipped with tiny plastic needles that dissolve within a short period and deliver vaccine painlessly in the form of pressured stream of liquid. These devices are utilized to avoid pain and manage chronic illness such as diabetes. Hospitals also supply other safety enhanced devices along with medical lasers, endoscopes, diagnostic equipment, and dental equipment.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing incidence of chronic diseases coupled with the growing awareness about the same is projected to boost the market growth.
- Rising number of hospital beds is estimated to spur the market expansion in the coming years.
- Growing healthcare infrastructure and rising government initiatives to enhance and expand health care facilities are increasing the demand for hospital supplies, spurring the growth of the market.
- Rising aging population has increasing the demand for hospital supplies, contributing to the market growth.
- The COVID-19 pandemic had increased the burden on the healthcare industry, increasing the demand for hospital supplies across the globe. This, in turn, had create lucrative opportunities for industry players in 2020 and is expected to continue in the coming years.
- Huge number of people with unattended diseases and injuries, which can be treated only in hospitals, is expected to drive the market expansion in the projected timeline.
- High unmet requirement for hospital supplies such as sterilization & disinfectant equipment and patient examination devices, which are necessary for preventing spread for communicable diseases in the hospital environment is anticipated to hamper the market growth.
- Growing popularity of home care services and stringent regulations are some of the major factors that can restrict the market growth during the forecast period.
- Ongoing technological advancement can generate high demand for hospital supplies and create significant opportunities for the market players during the forecast period.
Scope of the Asia Pacific Hospital Supplies Market Report
The report on the Asia Pacific hospital supplies market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Hospital Supplies Market - Asia Pacific Industry Analysis, Growth, Share, Size, Trends, and Forecast
Types (Physical Examination Devices, Operating Room Equipment, Mobility Aids & Transportation Equipment, Sterilization & Disinfectant Products, Disposable Hospital Supplies, Syringes & Needles, and Others)
China, Japan, India, Australia, South Korea, and Rest of Asia Pacific
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
3M, Medtronic, Cardinal Health, Boston Scientific Corporation, and B. Braun Melsungen AG.
Asia Pacific Hospital Supplies Market Segment Insights
Operating room equipment segment is projected to account for a large market share
Types Segment Analysis
On the basis of types, the market is segmented into physical examination devices, operating room equipment, mobility aids & transportation equipment, sterilization & disinfectant products, disposable hospital supplies, syringes & needles, and others.
The operating room equipment segment is expected to constitute a key market share during the forecast period owing to increasing demand for equipment among clinicians to operate patients with safety and precision. Conversely, the syringes and needles segment is anticipated to grow at a healthy rate owing to ongoing advancement in the injection administration technology.
China is anticipated to dominate the market
On the basis of geographies, the market is segmented into China, Japan, India, Australia, South Korea and Rest of Asia Pacific. China is projected to dominate the market during the market period owing to the increasing number of hospitals. Moreover, increasing spending of government on healthcare infrastructure is driving the growth of the market in the country.
Segments Covered in the Report
The Asia Pacific hospital supplies market has been segmented on the basis of
- Physical Examination Devices
- Operating Room Equipment
- Mobility Aids & Transportation Equipment
- Sterilization & Disinfectant Products
- Disposable Hospital Supplies
- Syringes & Needles
- South Korea
- Rest of Asia Pacific
Key players competing in the Asia Pacific hospital supplies market include 3M, Medtronic, Cardinal Health, Boston Scientific Corporation, and B. Braun Melsungen AG.