Number of pages: 100 | Report Format: PDF | Published date: January 18, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
Report Attribute |
Details |
Market Size Value in 2021 |
US$ 346.85 billion |
Revenue Forecast in 2030 |
US$ 986.27 billion |
CAGR |
12.3% |
Base Year for Estimation |
2021 |
Forecast Period |
2022-2030 |
Historical Year |
2020 |
Segments Covered |
Product type, Raw material, End user, and Region |
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global disposable medical devices market was valued at US$ 349.85 billion in 2021 and is expected to register a revenue CAGR of 12.3% to reach US$ 986.27 billion by 2030.
Disposable Medical Devices Market Fundamentals
A disposable device refers to any medical device designed for one-time or transient use. Various types of disposable devices are produced by medical and surgical equipment manufacturers around the world. Infection control is the main purpose of disposable medical equipment. An item used only once cannot spread infectious pathogens to more patients. The Centre for Disease Control (CDC) claims that the risk of patient-to-patient infection decreases with the usage of disposable products as they are thrown away after use and are not used for other patients. Disposable devices are sanitized before dispatching from the manufacturing plant, whereas reusable devices are sterilized at the healthcare institution.
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Disposable Medical Devices Market Dynamics
Rise in the prevalence of hospital-acquired infections, or nosocomial infections, is a key factor driving the revenue growth in the medical disposables market. A patient is at higher risk of getting infections, such as catheter-associated urinary tract infections, ventilator-associated pneumonia, surgical site infections, central line-associated bloodstream infections, and Clostridium difficile infections, while receiving medical care in a hospital. According to the World Health Organization (WHO), about 15% of hospital patients are infected by viral, bacterial, and fungal infections that they get while admitted to hospitals. Furthermore, according to the Centers for Disease Control and Prevention (CDC), there was increase of about 35% in ventilator-associated events (VAE) in 2020 and a rise of 24% in central line bloodstream infections (CLABSI) in 2021.
The market for disposable medical devices is being driven by rising demand for disposable medical equipment, such as prefilled syringes and hypodermic needles. Moreover, growing government support and rising public awareness about disposable medical equipment are fueling revenue growth in the global market for disposable medical devices. For instance, the Royal College of Nursing's Glove Awareness Week (GAW) program includes activities to increase awareness about the necessity of wearing medical gloves to reduce the possibilities of infections.
However, rising waste produced due to disposable devices is likely to hinder the revenue growth of the market for disposable medical devices in the next few years. Additionally, insufficient reimbursement policies associated with these devices are also expected to impede market revenue growth to some extent.
Disposable Medical Devices Market Ecosystem
The global disposable medical devices market is analyzed from four perspectives: product type, raw material, end-user, and region.
Disposable Medical Devices Market by Product Type
Based on the product type, the global disposable medical devices market is segmented into wound management products, drug delivery products, diagnostic and laboratory disposables, dialysis disposables, incontinence products, respiratory supplies, sterilization supplies, non-woven disposables, disposable masks, disposable eye gear, disposable gloves, and sanitizers.
The sterilization supplies segment dominates the market with the highest revenue growth rate. Sterilization supplies include cotton swabs, cotton balls, test tubes, and other skin preparation items. Sterilizer bags, which are developed to provide convenient medical equipment sterilization, are also included in this segment. The segment also includes innovative goods such as cotton swabs that are pre-mixed with sterilizing agents. The popularity of these products has increased in the past few years owing to their ability to eliminate the need to apply the solutions to cotton balls in precise amounts, which takes time and effort. A key factor driving the segment’s revenue growth is the rising need for sterilizing supplies owing to the COVID-19 pandemic outbreak. Additionally, the lack of viable substitutes and the usage of creative packaging in these products are projected to have a favorable impact on the segment’s revenue growth.
Disposable Medical Devices Market by Raw Material
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Based on the raw material, the global disposable medical devices market is segmented into plastic resins, non-woven material, rubber, paper and paperboard, metals, glass, and others.
The plastic resins segment accounts for the largest revenue share of the global disposable medical devices market. Plastic resins are utilized in the packaging of various medical equipment, such as disposable needles, containers, tubes for intravenous fluids, and other medications. Increasing usage of disposable products to stop the spread of infectious diseases and rising prevalence of hospital-acquired illnesses are driving revenue growth in the segment. Furthermore, application of various types of plastics has increased in the healthcare industry due to rise in the accessibility of several types of plastics with varied qualities, such as polyvinyl chloride (PVC), polypropylene (PP), low- and high-density polyethylene, and polystyrene.
Disposable Medical Devices Market by End-user
Based on the end-user, the global disposable medical devices market is segmented into hospitals, home healthcare, outpatient/primary care facilities, and others.
The hospitals segment dominates the global disposable medical devices market due to increase in the number of hospital patient admissions for COVID-19 procedures and therapies. According to research by the University of California, San Francisco, operating rooms produced more than 2000 tons of garbage daily on average, a large amount of which came from disposable medical supplies during the COVID-19 pandemic. The segment is expected to register rapid revenue growth during the forecast period owing to a surge in the utilization of medical disposables in hospitals.
Disposable Medical Devices Market by Region
Based on the region, the global disposable market is segmented into North America, Europe, Asia Pacific region, and the rest of the world (RoW).
North America accounts for a significant revenue share of the market due to the existence of numerous key players and increase in the number of hospital surgeries. Additionally, rise in the aging population, growth in government spending on R&D activities, and increase in the prevalence of HAIs are supporting the market revenue growth in this region. Moreover, rise in the need to reduce escalating healthcare expenses in the region and increase in the prevalence of chronic diseases are contributing to the market revenue growth in North America.
Disposable Medical Devices Market Competitive Landscape
Major players operating in the global disposable medical devices market are:
Disposable Medical Devices Market Strategic Developments
Disposable medical devices are single-use medical devices that are utilized to avoid the possibilities of hospital-acquired diseases.
Increasing nosocomial infections and growing awareness about disposable medical devices are driving the revenue growth of the global disposable medical devices market.
Medline Industries, Inc., Johnson & Johnson, BD, Abbott Laboratories, and 3M Science are key players operating the global disposable medical devices market.
Rising waste produced due to disposable and inadequate reimbursement policies related to these devices is likely to restrict the revenue growth of the global disposable medical devices market.
The global disposable medical devices market is expected to register a revenue CAGR of 12.3% during the forecast period from 2022 to 2030.
*Insights on financial performance are subject to the availability of information in the public domain