Medical disposables includes conventional syringes, disposable medical catheters, isolation gowns, procedure kits and trays, blood glucose test strips, and wound care products. The medical disposables are the essential component of every hospital and they have one time usage and need to be disposed after use.
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.
Global and U.S Medical Disposables Market: Drivers
Approval and launch of new medical disposables is expected to propel growth of the global and U.S medical disposables market over the forecast period. For instance, in October 2019, Becton, Dickinson and Company launched the BD Intevia 1mL two-step disposable auto-injector.
Global and U.S Medical Disposables Market: Opportunities
R&D in medical disposables is expected to offer lucrative growth opportunities for players in the global and U.S medical disposables market. For instance, in October 2018, researchers from University of California, U.S., reported development of a disposable plastic syringe-based platform for automation of a colorimetric malaria-Ab assay.
Global and U.S Medical Disposables Market: Restraints
Manufacturing of medical disposables requires compliance with stringent good manufacturing practices (GMPs). Moreover, the commercial approval requirements for medical disposables vary according to the invasiveness of the product. Such stringent regulatory scenario is expected to hinder growth of the global and U.S medical disposables market.
Key Takeaways:
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. Major factor driving the growth of global and U.S. Medical Disposables market during the forecast period include high prevalence of diseases, and increasing hospitalization.