Hospital Consumables Market Size Is Expected To Reach USD 713.1 Billion By 2028

 San Francisco, 21 Sep 2023: The 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

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.

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.

Many hospitals and health care centers are considerably focusing on upgrading the quality of infrastructure, maintaining hygiene, and efficacy of operational systems, which will have a positive impact on the market growth. In addition, a large population base in developed countries, such as the U.S., is able to spend and afford better-quality healthcare. According to CMS.gov, the U.S. healthcare expenditure grew 4.6% in 2019, reaching USD 3.8 trillion or USD 11,582 per person, accounting for 17.7% of the nation’s GDP. Thus, increasing healthcare expenditure is also one of the key factors stimulating market growth.

Access Research Report of Hospital Consumables Market @ https://www.grandviewresearch.com/industry-analysis/hospital-consumables-market-report

Hospital Consumables Market Report Highlights

• 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

Hospital Consumables Market Report Scope

Report Attribute	Details
Market size value in 2021	USD 345.99 billion
Revenue forecast in 2028	USD 713.17 billion
Growth rate	CAGR of 10.89% from 2021 to 2028
Base year for estimation	2020
Historical data	2016 - 2019
Forecast period	2021 - 2028

List of Key Players of Hospital Consumables Market

• McKesson Medical-Surgical Inc.
• Medline Industries, Inc.
• Braun Melsungen A.G.
• Terumo Medical Corporation
• Owens and Minor
• Smith And Nephew, Inc.
• Cardinal Health
• 3M
• Baxter
• Fresenius Medical Care AG & Co. KGaA

Access Press Release of Hospital Consumables Market @ https://www.grandviewresearch.com/press-release/global-hospital-consumables-market