DUBLIN--(BUSINESS WIRE )--The "Global Hospital Consumables Market Size, Share & Trends Analysis Report by Product (Non-woven Disposable Products, Disposable Medical Gloves), Region (North America, APAC), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.
The global hospital consumables market is expected to reach USD 713.1 billion by 2028, registering a CAGR of 10.89% over the forecast period, according to the report.
Hospitals, private medical practices, and patients, especially in developed nations, are gradually shifting towards utilization of disposable hospital consumables due to convenience and safety offered by these products. Therefore, the product demand is rapidly increasing across the globe, thereby driving market growth. Moreover, the increasing prevalence of Hospital-Acquired Infections (HAIs) is creating high product demand in hospitals as well as other healthcare settings.
For instance, out of every 100 hospitalized patients, 7 in developed and 10 in developing countries are affected with at least one Healthcare-associated Infections (HCAIs). Several measures, including the usage of disposable & sterile products, disposable gloves, medical gauze, tapes, procedure kits & trays, and other disposable hospital consumables, are now being utilized to prevent and reduce the prevalence of HAIs. Moreover, expanding infrastructure and rising demand for maintenance & hygiene in healthcare institutes are further boosting the market growth.
Many hospitals and health care centers are considerably focusing on upgrading the quality of infrastructure, maintaining hygiene, and efficacy of operational systems, which will have a positive impact on the market growth. In addition, a large population base in developed countries, such as the U.S., is able to spend and afford better-quality healthcare. According to CMS.gov, the U.S. healthcare expenditure grew 4.6% in 2019, reaching USD 3.8 trillion or USD 11,582 per person, accounting for 17.7% of the nation's GDP. Thus, increasing healthcare expenditure is also one of the key factors stimulating market growth.
Hospital Consumables Market Report Highlights
Chapter 4. Hospital Consumables Market Variables, Trends & Scope
4.2 Penetration & Growth Prospect Mapping
4.3.1.1 Increasing prevalence of chronic diseases leading to longer hospital stays
4.3.1.2 Rising demand for minimally invasive procedures
4.3.2.1 Delayed market entry of medical consumable products
4.4 Hospital Consumables Market Analysis Tools
Chapter 5. Hospital Consumables Market: Segment Analysis, By Product, 2016 - 2028 (USD Million)
Chapter 6. Hospital Consumables Market: Regional Market Analysis, By Product, 2016 - 2026 (USD Million)
Chapter 7. Hospital Consumables Market: Competitive Analysis
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900