Medical supply industries are dominated by broadly expanded multinational companies that produce chemicals, pharmaceuticals, cosmetics, electronic equipment, and devices. Of these commodities, One of the most successful groups is electronic equipment and devices.
"The global medical supplies market is projected to grow from USD 133.5 billion by 2025 from USD 132.6 billion in 2020, at a CAGR of 4.6%. The growth of this market is majorly driven by the increasing prevalence of chronic diseases across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, rising demand for infection control measures to curb the occurrence of HAIs, and the rising demand for medical devices." (published by marketsandmarkets)
The accelerated technological advancements have helped multinational companies to develop life-saving equipment and devices, and the enactment of digital methods have made it available to compete alongside global giants in the competition to provide the best healthcare service. The medical supplies market is segmented into diagnostic equipment, infusion & injectable equipment, intubation & ventilation equipment, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies. The intubation & ventilation consumables segment is expected to grow at the highest during the projection period. This is attributed to the rising incidence of respiratory diseases, such as asthma and COPD, along with the increasing prevalence of COVID-19 across the globe.