The global healthcare consumables market consists of a wide range of single-use, disposable medical devices and supplies that are needed for medical procedures and to care for patients in healthcare facilities. These include critical care consumables like syringes, needles, catheters, medical gloves, disposable drapes, gowns, bandages, wound dressings and other disposable medical utilities that are widely used across medical settings on a daily basis. The rapid growth in chronic diseases, rising medical tourism and hospitals infrastructure in developing countries are fueling the demand for healthcare consumables globally.

The Global Healthcare Consumables Market is estimated to be valued at US$ 172.31 Bn in 2024 and is expected to exhibit a CAGR of 11.% over the forecast period 2024 to 2031.

Global Healthcare Consumables Market Trends arovide an effective way to prevent infections and ensure safety standards across healthcare facilities. They minimize risks associated with contamination and cross-infections and play a pivotal role in improving patient outcomes. Rising healthcare expenditure, aging population, and increasing surgical procedures are some of the major factors projected to drive the healthcare consumables market during the forecast period.

Key Takeaways

Key players operating in the global healthcare consumables are Procter Gamble, B. Braun SE, McKesson Medical-Surgical Inc, Medline Industries Inc., Owens and Minor, Smith And Nephew plc, 3M, Baxter, Fresenius Medical Care AG, Cardinal Health, Terumo Medical Corporation, Honeywell Interational Inc., Dynarex Corporation, Kemei, Unigloves, Argentum Medical, Alliqua Biomedical, AccelHeal, Globus Medical. These players are focusing on new product launches and strategic collaborations to expand their market share.

The Global Healthcare Consumables Market Companies is fueled by increasing healthcare expenditures and growing incidence of chronic and infectious diseases globally. Increasing volume of surgical procedures and rising medical tourism in developing nations are further driving the utilization of healthcare consumables.

The high prevalence of hospital-acquired infections in developing countries and ongoing expansion of healthcare infrastructure across global emerging markets will support the strong growth of healthcare consumables market in these regions over the forecast period. Ongoing collaborations between leading market players and regional/local players would help bolster the access to quality and affordable healthcare consumables.

Market Key Trends

One of the key trends gaining traction in the global healthcare consumables market is growing demand for single-use medical devices and disposables. Single-use devices minimize risks associated with contamination and increase efficiency by eliminating reprocessing requirements. Stringent regulatory norms favoring use of single-use medical equipment to ensure safety are further promoting this trend. Growing preference for minimally invasive surgeries globally is augmenting the demand for single-use medical consumables like trocars, graspers, and scissors during such procedures.

Porter's Analysis

Threat of new entrants: High capital requirements for R&D, manufacturing, distribution, and ongoing technological improvements make it difficult for new players to enter this specialized market.

Bargaining power of buyers: Large institutional buyers like hospitals can negotiate lower prices, benefiting from their higher purchase volumes. Cost-conscious individual consumers have some limited influence.

Bargaining power of suppliers: A few major suppliers dominate key materials and components, enabling them to influence prices. Suppliers of specialty inputs have more pricing power.

Threat of new substitutes: Limited threat as medical consumables have few direct substitutes. New innovative products from competitors pose a threat.

Competitive rivalry: Intense competition between major global players and regional specialists to gain market share through product differentiation, cost control, and expanding into new therapeutic areas.

Geographical Regions

North America accounted for the largest share of the global healthcare consumables market in terms of value in 2024 due to well-established healthcare systems, rising healthcare costs, and growing elderly population with multiple chronic conditions in countries like the US.

The Asia Pacific region is expected to be the fastest growing market during the forecast period from 2024 to 2031. This can be attributed to increasing healthcare investments, rising medical tourism, growing patient volumes, and expansion of private healthcare facilities across densely populated nations like China and India.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)