Hospital Supplies Market Size, Trends and Growth Analysis by 2027

The Global Hospital Supplies market is projected to grow significantly, reaching an estimated US$ 101.0 billion by 2027, up from US$ 37.9 billion in 2018. This growth trajectory indicates a compound annual growth rate (CAGR) of 11.9% from 2019 to 2027.

The expansion of the Hospital Supplies market can be largely attributed to several key factors. These include the rising incidence of chronic diseases, an increasing elderly population, the growing impact of hospital-acquired infections, and heightened government spending on healthcare. Conversely, the market may face challenges due to stringent regulatory requirements for the approval of hospital supplies, which could hinder growth. Nevertheless, emerging markets present substantial opportunities that are likely to positively influence the global hospital supplies market in the years ahead. The surge in chronic conditions such as cancer, diabetes, cardiovascular diseases, and hypertension has led to a heightened awareness of health issues. Recently, there has been a notable increase in individuals experiencing heart-related ailments, underscoring the importance of health maintenance across both developed and developing nations. Consequently, the demand for various hospital supplies, including equipment and consumables for patient care, has risen sharply in recent years. Additionally, the growth of medical tourism and the proliferation of specialty clinics and multi-specialty hospitals in countries like the United States, India, and Canada have further fueled this demand. The Asia Pacific region is expected to present significant growth opportunities during the forecast period, driven by rising disposable incomes and an increase in medical tourism in major economies such as Japan, China, and India.

Chronic diseases, such as diabetes, cancer, heart disease, and obesity, are among the leading causes of mortality worldwide and contribute significantly to national healthcare expenditures. According to the International Diabetes Federation (IDF), the number of individuals with diabetes in North America was approximately 46 million in 2017, with projections suggesting this figure could rise to 62 million by 2045, marking a 35% increase during the forecast period. The Centers for Disease Control and Prevention (CDC) reported that in 2018, over 9% of the U.S. population was affected by diabetes, which is a primary cause of kidney failure and lower-limb amputations in the country. Furthermore, approximately 1.5 million Americans are diagnosed with diabetes annually. Similar patterns of high diabetes prevalence are observed in other regions, including Asia Pacific, Europe, the Middle East, and Africa. For example, the IDF Diabetes Atlas indicated that Southeast Asia is home to about 19% of the global diabetes population.

In 2018, the disposable hospital supplies segment commanded the largest share of the Hospital Supplies market, accounting for 48.2% of the total market by type. This segment is anticipated to maintain its dominance through 2027, driven by the increasing demand for disposable hospital products and the growing number of multi-specialty hospitals, which are expected to propel the market for disposable supplies in the future.

The syringes market is divided into generalized syringes and specialized syringes. In 2018, the generalized syringes segment held the largest market share. The specialized syringes segment is further categorized into insulin syringes, allergy syringes, tuberculin syringes, and other types of syringes. Key sources of information for this market analysis include the Centers for Disease Control and Prevention (CDC), the U.S. Food and Drug Administration (USFDA), the International Hospital Equipment (IHE), the Journal of Patient Care, the China Food & Drug Administration, and various contract research organizations, among others.