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Demand Scenario
The global medical disposables market was USD 228.17 billion in 2018 and is estimated to reach USD 317.04 billion by 2025 at a CAGR of 4.81% during the forecast period.
Growth by Region
North America leads the medical disposable market owing to factors such as the presence of developed healthcare facilities and infrastructure in USA and Canada, government initiatives, increased prevalence of infectious diseases, large patient pool, higher adoption rate of advanced technology and growing awareness regarding infection control and cross-contamination in healthcare fields.
The growth in Europe is due to factors such as increasing research activities and technological advancements in the region. Asia-Pacific will be the fastest growing region during the forecast period owing to factors such as prevalence of chronic diseases, presence of large number of players in medical disposable product development, increase in the per capita income and the growing awareness among people.
Drivers vs Constraints
The factors that drive the growth of medical disposables market include growing awareness regarding benefits of infection control, increased prevalence of infectious disease, growing need for healthcare assistance, and technological advancements and developments of new products. Stringent government approval policies and inefficient waste management systems hampers the growth of the market.
Industry Trends and Updates
In April 2018, B. Braun Medical Industries opened five new and enhanced production plants and in Penang. The new state-of-the art facilities features the latest building and production technologies, manufacture medical devices for infusion therapy, pharmaceutical solutions and surgical instruments for the treatment of patients in Malaysia and around the world.
In January 2018, Terumo Corporation Integrated two of its R&D Facilities in Silicon Valley to Accelerate Development of Innovative Medical Devices. In November 2017, Johnson & Johnson Medical Devices Companies opened State of the Art "" Engineering Studio "" ie a center for device innovation at Texas Medical Center to Accelerate Medical Devices Development.
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