Hospital Consumables Market Size Worth $713.1 Billion By 2028

Grand View Research, Inc.

SAN FRANCISCO, Dec. 6, 2021 /PRNewswire/ -- The global hospital consumables market is expected to reach USD 713.1 billion by 2028, registering a CAGR of 10.89% over the forecast period, according to a new report by Grand View Research, Inc. Hospitals, private medical practices, and patients, especially in developed nations, are gradually shifting towards utilization of disposable hospital consumables due to convenience and safety offered by these products. Therefore, the product demand is rapidly increasing across the globe, thereby driving market growth. Moreover, the increasing prevalence of Hospital-Acquired Infections (HAIs) is creating high product demand in hospitals as well as other healthcare settings.

Key Insights & Findings from the report:

• The non-woven disposable products segment held the largest revenue share in 2020 and will expand at a steady CAGR over the forecast years retaining the leading market position
• This growth is credited to the high prevalence of HAIs and subsequently rising hospital admissions for surgeries
• The market in the Asia Pacific region is expected to register the fastest CAGR from 2021 to 2028
• This growth is owing to the increasing population coupled with the rapid expansion of the medical tourism sector in the region
• Key players focus more on business strategies, such as mergers & acquisitions, partnerships, and new product launches, to strengthen their foothold in the global market

Read 90 page market research report, "Hospital Consumables Market Size, Share & Trends Analysis Report By Product (Non-woven Disposable Products, Disposable Medical Gloves), By Region (North America, APAC), And Segment Forecasts, 2021 - 2028", by Grand View Research

For instance, out of every 100 hospitalized patients, 7 in developed and 10 in developing countries are affected with at least one Healthcare-associated Infections (HCAIs). Several measures, including the usage of disposable & sterile products, disposable gloves, medical gauze, tapes, procedure kits & trays, and other disposable hospital consumables, are now being utilized to prevent and reduce the prevalence of HAIs. Moreover, expanding infrastructure and rising demand for maintenance & hygiene in healthcare institutes are further boosting the market growth.