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Global and U.S Medical Disposables Market Analysis | Coherent Market Insights

Read here the market research report on u201cGlobal & U.S Medical Disposables Marketu201d by CMI team.

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Global and U.S Medical Disposables Market Analysis | Coherent Market Insights

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  1. Coherent Market InsightS Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. GLOBAL& U.S. MEDICAL DISPOSABLES MARKET ANALYSIS (2020 - 2027) • Medical disposables are products that are used in hospitals or in various medical fields for prevention of infections and for safety measures to meet the medical standards. The medical disposables are important to lower the risk of cross-contamination and infections that is a primary aim of healthcare professionals and governments globally. • The global and U.S medical disposables market is estimated to account for US$ 55.3 Mn in terms of value in 2020 and is expected to reach US$ 75.2 Mn by the end of 2027

  3. Global and U.S Medical Disposables Market: Drivers • Increasing prevalence of chronic conditions is expected to propel growth of the global and U.S medical disposables market over the forecast period. For instance, according to the American Cancer Society, in 2019, there will be an estimated 1,762,450 new cancer cases diagnosed and 606,880 cancer deaths in the U.S. • Moreover, adoption of 3D printing in developing medical disposables is also expected to aid in growth of the market. For instance, in February 2019, researchers from Simon Fraser University reported development of eco?friendly 3D?printed disposable sensor devices with smart 3D form factor using biocompatible cellulose composites. • Others segment held dominant position in the global and U.S medical disposables market in 2019, accounting for 40.2% share in terms of value, followed by drug delivery products.

  4. Figure 1. Global and U.S Medical Disposables Market Share (%), by Value, by Product Type, 2019

  5. Global and U.S Medical Disposables Market: Restraints • Product recalls are expected to hinder growth of the global and U.S medical disposables market. For instance, in January 2020, Cardinal Health issued a voluntary recall of 9.1 million surgical gowns due to potential quality issues with the Level 3 gowns and the Presource procedure packs that contain them. • Moreover, sell of counterfeit medical disposables is also expected to limit the market growth.

  6. Globaland U.S Medical Disposables Market: Opportunities  • Adoption of digital printing processes in development of medical disposables is expected to offer lucrative growth opportunities for players in the global and U.S medical disposables market. For instance, in September 2019, Waldorf Technik, a subsidiary of the Hahn Group, demonstrated a newly developed automation system that allows molders of disposable syringes to print directly on cylinders using the system’s digital printing processes, at K Trade Fair 2019. • Moreover, government initiatives to buy medical disposables is also expected to aid in growth of the market. For instance, in April 2020, Ministry of Health, Government of Turkey, opened tender to buy disposable syringes.   • The global and U.S medical disposables market was valued at US$ 52.9 Mn in 2019 and is forecast to reach a value of US$ 75.2 Mn by 2027 at a CAGR of 4.5% between 2020 and 2027.

  7. Figure 2. Global and U.S Medical Disposables Market Value (US$ Mn), and Y-o-Y Growth (%), 2019-2027

  8. Market Trends/Key Takeaways • Emergence of Covid-19 is expected to propel growth of the global and U.S medical disposables market. For instance, in July 2020, Ukraine received a batch of humanitarian aid from the Government of the People's Republic of China, which included coronavirus diagnostic test kits (50,016 units), medical masks (50,000 units), medical goggles (30,000 units), contactless thermometers (1,000 units), medical surgical masks (200,000 units), medical protective suits (30,000 units), disposable medical gloves (50,000 units). • Major players in the market are focused on approval and launch of new products to expand their product portfolio. For instance, in January 2019, SynergEyes, Inc. launched SimplifEyes 1 Day daily disposable lens with dual tangible polymers.

  9. Global and U.S Medical Disposables Market: Competitive Landscape • Major players operating the global and U.S. medical disposables market include, Abbott laboratories, Johnson & Johnson, Ansell Limited, Becton and Dickinson Company (BD), Boston Scientific Corporation,  Medtronic Incorporated, Derma Sciences Incorporated, Kinetic Concepts,  Medline Industries Inc., Cardinal Health Incorporated, Minnesota Mining and Manufacturing Company (3M Company), Young Innovations, Transcodent GmbH & Co. KG, Itamar Medical, Baxter International, and SynergEyes, Inc.

  10. Global and U.S Medical Disposables Market: Key Developments • Major players in the global and U.S medical disposables market are focused on approval and launch of new products to expand their product portfolio. For instance, in October 2019, Becton, Dickinson and Company launched BD Intevia 1mL two-step disposable autoinjector, a platform device combining autoinjector and pre-fillable syringe in one integrated system. • Major players in the market are also focused on adopting M&A strategies to expand their product portfolio. For instance, in May 2019, Young Innovations, a dental products manufacturer, acquired assets of Crystal Tips, a supplier of disposable air/water syringe tips and adapters

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