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.
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.
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. Vast number of products in the segment is supporting growth of the segment.
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 December 2019, Baxter International launched its disposable curved applicator that is designed to enhance the delivery of its Floseal Hemostatic Matrix product line.
Decrease in production of raw material is expected to adversely impact the manufacturing of medical disposables. For instance, according to S&P Global Platts Analytics data, total propylene production in 2019 is expected to be around 12.13 million mt, a decline from around 12.28 million mt in 2018.
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.
Global and U.S Medical Disposables Market: Key Developments
February 2020: Transcodent GmbH & Co. KG launched the Transcodent Painless Steel Dental Injection Needles, disposable and sterile needles for the delivery of anesthetic
June 2019: Itamar Medical received the U.S. FDA 510(k) clearance for a new disposable home sleep apnea test (HSAT) called WatchPAT One