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  • Published In : May 2024
  • Code : CMI6956
  • Pages :152
  • Formats :
      Excel and PDF
  • Industry : Medical Devices

Market Size and Trends

Global healthcare consumables market is estimated to be valued at USD 172.31 Bn in 2024 and is expected to reach USD 376.91 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.

Global Healthcare Consumables Market Key Factors

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Global healthcare consumables market is expected to witness steady growth due to increasing geriatric population worldwide and rising incidence of chronic as well as infectious diseases. Growing demand for better healthcare services coupled with technological advancements in healthcare infrastructure and consumables can drive the market growth in the near future. Rising medical tourism and increased healthcare spending is also expected to drive the market growth.

Increasing Product Launches by Key Market Players

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the market growth over the forecast period. For instance, in January 2023, Convatec, a global medical products and technologies company, announced the U.S. launch of ConvaFoam, a family of advanced foam dressings that is designed to address the needs of healthcare providers and their patients. ConvaFoam can be used on a spectrum of wound types at any stage of the wound journey, thus, making it the simple dressing choice for wound management and skin protection.

Market Concentration and Competitive Landscape

Global Healthcare Consumables Market Concentration By Players

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Increasing Inorganic Growth Strategies by Key Market players

Increasing adoption of inorganic growth strategies such as acquisition, in order to expand its product portfolio in the market, is expected to drive the market growth over the forecast period. For instance, in March 2022, Convatec Inc., a global medical products and technology company, announced that it had completed the acquisition of Triad Life Sciences Inc., a biotechnology company, The Triad team, current portfolio and product pipeline will now transition to Convatec’s Advanced Wound Care (AWC) business and be known as Convatec Advanced Tissue Technologies. The acquisition supports Convatec’s FISBE strategy (Focus-Innovate-Simplify-Build-Execute) by strengthening Convatec’s AWC position in the U.S. (Focus) and securing access to a complementary and innovative technology platform (Innovation) that enhances advanced wound management and patient outcomes.

Global Healthcare Consumables Market Key Takeaways From Lead Analyst

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Market Challenge – Increasing Product Recalls

Increasing product recalls by regulatory authorities can hamper the market growth over the forecast period. For instance, in March 2022, BlaineLabs, a drugs and medical device manufacturing company, announced that it had recalled a single lot of RevitaDerm Wound Care Gel 1% (benzalkonium chloride gel containing transforming growth factor beta), after a 1-ounce bottle was discovered to be contaminated with Bacillus cereus.

Market Opportunity – Increased Adoption of Telehealth and Remote Patient Monitoring

Increased adoption of telehealth and remote patient monitoring offer opportunities for the global healthcare consumables market growth. Telehealth allows patients to connect with healthcare providers virtually through video calls, mobile apps, and web-based platforms. This enables remote monitoring of vital signs and simplified delivery of care without the need for in-person visits. In November 2020, according to the report by World Health Organization, more than 50% of Americans participated in telehealth for the first time during the pandemic, thus, showing long term potential for this model of care delivery.

Global Healthcare Consumables Market By Product Type

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Insights, By Product Type: Increasing demand for wound care management products

Product Type segment is sub-segmented into  wound care consumables, blood and dialysis consumables, drug delivery products, incontinence products, disposable gloves, others. Wound care consumables sub-segment is estimated to hold 29.3% of the market share in 2024, owing to the inherent convenience these offer for wound treatment. Disposable wound care products such as bandages, tapes and gauzes allow for one-time application and easy disposal, thus, preventing infection risks associated with reuse of materials. Their peel-and-stick usability and good absorption capacity makes wound cleaning and dressing simpler for both patients and clinicians. This has become increasingly important as more treatment shifts to home and outpatient settings. Growing prevalence of chronic wounds like pressure ulcers and diabetic foot ulcers boosts demand.

Insights, By Raw Material: Supremacy of rubber in medical supplies

Raw Material segment is sub-segmented into rubber, glass, metals, plastic, others. Rubber sub-segment is estimated to hold 26.9% of the market share in 2024 owing to its ideal properties for medical devices and clinical use. Being durable yet flexible, rubber is widely used to manufacture gloves, tubes, stoppers and other items that require a good combination of strength and elasticity. Natural and synthetic rubbers effectively create protective barriers against liquids and particles, making them suitable for examination and surgical gloves. These also serve as cushioning materials in products like catheters, bulbs and connectors. Rubber's high tensile strength and resistance to wear and tear ensure product integrity through repetitive use. Its non-porous surface does not support microbial growth, protecting against infection.

Insights, By End User: Role of hospitals as healthcare hubs

End User segment is sub-segmented into hospitals, home healthcare, others. Hospitals sub-segment is estimated to hold 32.4% of the market share in 2024, owing to their central function in healthcare delivery and management of complex cases and emergencies. High patient volumes and varied needs within hospitals induce steady procurement of disposable supplies for diagnostics, surgery and general treatment purposes. Intense care units like emergency, intensive care and operation theatres in particular are sizeable consumers. The infrastructure and technical capabilities of hospitals also make them suitable locations for costly procedures, which involve extensive use of consumables. With growing specialization, tertiary and multi-specialty hospitals house expanded services that maintain demand. Moreover, hospitals set procurement standards that tend to be followed by other end users.

Regional Insights

Global Healthcare Consumables Market Regional Insights

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North America remains the dominant region in the global healthcare consumables market and is estimated to hold 41.6% of the market share in 2024 due to the developed healthcare infrastructure and growing accessibility of healthcare facilities across the region. With the presence of key players and rapid adoption of advanced technologies

Asia Pacific has emerged as the fastest growing regional market for healthcare consumables over the past few years. Countries such as China, India and South Korea have witnessed exponential growth in their respective domestic markets backed by increasing healthcare investments, expanding medical tourism industry and rising medical awareness among consumers. Moreover, supportive government policies promoting universal healthcare boosts widespread accessibility across rural and semi-urban areas. While import dependency is currently high in Asia Pacific, local manufacturing capabilities are strengthening with advancing industry standards.

Market Report Scope

Global Healthcare Consumables Market Report Coverage

Report Coverage Details
Base Year: 2023 Market Size in 2024: US$ 172.31 Bn
Historical Data for: 2019 to 2023 Forecast Period: 2024 to 2031
Forecast Period 2024 to 2031 CAGR: 11.8% 2031 Value Projection: US$ 376.91 Bn
Geographies covered:
  • North America: U.S., Canada
  • Latin America: Brazil, Argentina, Mexico, Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, Rest of Asia Pacific
  • Middle East: GCC, Israel, Rest of Middle East
  • Africa: South Africa, North Africa, Central Africa
Segments covered:
  • By Product Type: Wound care consumables, Blood and dialysis consumables, Drug Delivery Products, Incontinence Products, Disposable Gloves, Others
  • By Raw Material: Rubber, Glass, Metals, Plastic, Others
  • By End User: Hospitals, Home Healthcare, Others 
Companies covered:

Procter & Gamble, B. Braun SE, McKesson Medical-Surgical Inc, Medline Industries Inc., Owens and Minor, Smith And Nephew plc, 3M, Baxter, Fresenius Medical Care AG, Cardinal Health, Terumo Medical Corporation, Honeywell Interational Inc., Dynarex Corporation, Kemei, Unigloves, Argentum Medical, Alliqua Biomedical, AccelHeal, Globus Medical

Growth Drivers:
  • Increasing Product Launches by Key Market Players
  • Increasing Inorganic Growth Strategies by Key Market players
Restraints & Challenges:
  • Increasing Product Recalls
  • Stringent Regulatory Frameworks

Key Developments

  • On May 1, 2024, Teleflex Incorporated, a healthcare company, launched Wattson temporary pacing guidewire that have dual functionality to support valve delivery and ventricular bipolar during structural heart It can be used in transcatheter aortic valve replacement and balloon aortic valvuloplasty procedures.
  • In October 2023, Braun SE, a medical device company, launched Introcan Safety 2 IV Catheter with Multi-Access Blood Control. The Introcan Safety 2 IV Catheter is the latest development from B. Braun in a long line of passive needlestick prevention catheters.
  • In April 2023, Medline Industries Inc., a healthcare company, announced that it had entered a long-term prime vendor collaboration with DCH Health System (DCH) to address healthcare needs in the West Alabama region. The two organizations will work together to develop new strategies to improve patient outcomes and streamline supply chain processes.
  • In May 2022, Globus Medical, a medical device company, launched the ultimate range of single-use gloves, helping to put a barrier between hands and everyday hazards for industry and healthcare
  • In September 2021, American Nitrile, a company that engages in manufacturing of medical and research/lab gloves for healthcare, launched U.S. based nitrile glove manufacturing business in Columbus, Ohio
  • *Definition: Healthcare Consumables consists of medical supplies that are designed for one-time or limited use in healthcare facilities like hospitals, clinics, and other medical institutions. This includes products like syringes, catheters, bandages, surgical gowns, gloves, drapes, and other disposable items that are used on patients. Healthcare consumables are essential for providing medical treatment and protecting both patients and healthcare workers from infections.

Market Segmentation

  •  Product Type Insights (Revenue, USD Bn, 2019 - 2031)
    • Wound care consumables
    • Blood and dialysis consumables
    • Drug Delivery Products
    • Incontinence Products
    • Disposable Gloves
    • Others
  •  Raw Material Insights (Revenue, USD Bn, 2019 - 2031)
    • Rubber
    • Glass
    • Metals
    • Plastic
    • Others
  •  End User Insights (Revenue, USD Bn, 2019 - 2031)
    • Hospitals
    • Home Healthcare
    • Others
  • Regional Insights (Revenue, USD Bn, 2019 - 2031)
    • North America
      • U.S.
      • Canada
    • Latin America
      • Brazil
      • Argentina
      • Mexico
      • Rest of Latin America
    • Europe
      • Germany
      • U.K.
      • Spain
      • France
      • Italy
      • Russia
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Middle East
      • GCC
      • Israel
      • Rest of Middle East
    • Africa
      • South Africa
      • North Africa
      • Central Africa
  • Key Players Insights
    • Procter & Gamble
    • B. Braun SE
    • McKesson Medical-Surgical Inc
    • Medline Industries Inc.
    • Owens and Minor
    • Smith And Nephew plc
    • 3M
    • Baxter
    • Fresenius Medical Care AG
    • Cardinal Health
    • Terumo Medical Corporation
    • Honeywell Interational Inc.
    • Dynarex Corporation
    • Kemei
    • Unigloves
    • Argentum Medical
    • Alliqua Biomedical
    • AccelHeal
    • Globus Medical

Frequently Asked Questions

The CAGR of global healthcare consumables market is projected to be 11.8% from 2024 to 2031.

Increasing product launches by key market players and increasing inorganic growth strategies by key market players are the major factors driving the growth of global healthcare consumables market.

Increasing product recalls and stringent regulatory frameworks are the major factors hampering the growth of global healthcare consumables market.

In terms of product type, wound care consumables segment is estimated to dominate the market in 2024.

Procter & Gamble, B. Braun SE, McKesson Medical-Surgical Inc, Medline Industries Inc., Owens and Minor, Smith And Nephew plc, 3M, Baxter, Fresenius Medical Care AG, Cardinal Health, Terumo Medical Corporation, Honeywell Interational Inc., Dynarex Corporation, Kemei, Unigloves, Argentum Medical, Alliqua Biomedical, AccelHeal, Globus Medical are the major players.

North America is expected to lead the global healthcare consumables market.

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