US Hospital Consumables Market is Estimated to Attain $53.24 Billion By 2025: Grand View Research, Inc
According to a report,“ U.S. Hospital Consumables Market Size, Share & Trends Analysis Report By Product (I.V. Solutions, General Procedure Trays, Non-Woven Disposable Products, Catheters), And Segment Forecasts, 2019 – 2025“, published by Grand View Research, Inc., The U.S. Hospital Consumables Market size is anticipated to reach USD 53.24 billion by 2025, according to a new report by Grand View Research, Inc., experiencing a CAGR of 5.6% during the forecast period. Rising number of surgeries and prevalence of chronic diseases, coupled with expanding geriatric population in the U.S., is promoting the growth of the market.
Key Takeaways from the report:
- Non-woven disposable products are likely to hold the largest revenue share in the U.S. hospital consumables market throughout the forecast horizon
- General procedure trays are expected to register a CAGR of 10.2% during the same period
- The catheters segment is estimated to command over 17.0% of the overall revenue by 2025.
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Geriatric population in the U.S. accounts for a significant share in the overall population of the country. As per a report in 2018 by World Bank, the global population aged 60 years and above was 15.4% of the total population in 2017 in comparison with 12.9% in 2010. Aging makes a person more susceptible to cardiovascular, urological, and neurological diseases, among others. People suffering from these conditions often require surgical interventions. Thus, increasing elderly population is projected to provide an upthrust to the U.S. market.
Based on product, the segments reviewed in the report include medical gloves, medical gauze, disposable syringes, catheters, non-woven disposable products, glucometer strips, IV solutions, and general procedure trays. The non-woven medical disposables segment represented over 29.0% of the overall revenue in 2017. Non-woven disposables are either made from natural fibers, such as cotton and linen, or synthetic fibers such as polypropylene, polytetrafluoroethylene, and polyester. These fabrics protect patients and medical professionals from hospital-acquired infections (HAIs).
General procedure trays are poised to be the most promising product segment during the forecast period. These trays consist of specific tools and instruments used in surgical and diagnostic procedures related to cardiovascular, orthopedics, ophthalmic, and dental procedures, among others. Procedure kits can effectively reduce waste generation in hospitals. Moreover, custom kits can also reduce time required for specific surgeries, leading to a greater number of surgeries being performed in lesser time.
The U.S. hospital consumables market consists of a large number of players manufacturing several products. Some of the players operating in this space are McKesson Medical-Surgical Inc.; Medline Industries, Inc.; B. Braun Melsungen A.G.; Terumo Medical Corporation; Owens and Minor; Smith And Nephew, Inc.; Cardinal Health; and 3M.
Grand View Research has segmented the U.S. hospital consumables market on the basis of product:
U.S. Hospital Consumables Product Outlook (Revenue, USD Million, 2014 – 2025)
- Medical Gloves
- I.V. Kits
- Medical Gauze
- Disposable Syringes
- Sharps Disposable Containers
- Catheters
- Non-woven Disposable Products
- Surgical Blades
- Medicine Cups
- Cannula
- Guidewires
- Thermometer
- Stethoscope
- Glucometer Strips
- I.V Solutions
- 50 ml
- 100 ml
- 250 ml
- 500 ml
- 1000 ml
- BP Monitors
- General Procedure Trays
- Laceration Trays
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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