The medical disposable market is anticipated to reach over USD 365.1 billion by 2026 according to a new research published by Polaris Market Research. In 2017, the drug delivery dominated the worldwide medical disposable industry. Asia-Pacific is anticipated to be the leading contributor to the global market revenue in 2017. The upward momentum of medical disposable in the hospitals, outpatient facility and other healthcare providers. The medical disposable market is primarily driven by increasing number of elderly populations, increasing need to limit the causes of infection, better performance, cost reliability, shelf life, and material. The reusable devices are considered to be relatively inexpensive in many different types, and increasing volume of production by the key players globally would also influence the market growth in the coming years.
Increasing number of technologically advanced products, and continuous research and development to also drive the market growth. Furthermore, increasing awareness in the patients for the use of medical disposable devices to also boost the market growth in the coming years. Also, increasing number of chronic diseases across the globe would also boost the market growth in the coming years.
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Based on the product type the medical disposable market is segmented as Wound Management, Drug Delivery, Dialysis, Nonwoven Incontinence, Respiratory Supplies, Diagnostic and Laboratory, and Sterilization. Similarly, on the basis of raw material, the market is segmented as Paper and Paperboard, Plastic Resin, Nonwoven Material, Metals, Glass, and Rubber. Plastic Resin is expected to be the fastest growing segment owning to its various application. End user for the medical disposable devices include Hospitals, Outpatient/Primary Care Facilities, and Home Healthcare.
North America generated the highest revenue in the Medical Disposable market in 2017, and is expected to be the leading region globally during the forecast period. Increasing demand healthcare facilities, increasing number of geriatric populations, and continuous mergers and acquisitions of the key players in the U.S. and Canada. Asia Pacific to also boost the market growth in coming years. The developing healthcare infrastructure of the countries in this region to be the major factor promoting the growth of this market during the forecast period.
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The key players operating in the Medical Disposable market include Johnson & Johnson Services, Inc., 3M, Abbott Laboratories, Medtronic Plc., B. Braun Melsungen AG, Bayer AG, Smith and Nephew Plc., Medline Industries, Inc., Cardinal Health, and Becton, Dickinson & Company. The industry participants launch novel products with collaboration and partnership agreements with other companies to innovate and launch new products to meet the increasing needs and requirements of consumers.