U.S. Disposable Medical Supplies Market - Focused Insights 2023-2028

The US disposable medical supplies market, valued at a staggering $119.17 billion in 2022, is set to climb to a colossal $228.38 billion by 2028, registering an impressive CAGR of 11.45%. Key drivers for this meteoric growth are rising hospital-acquired infections (HAIs), an aging population, an increase in chronic illnesses necessitating extended hospital stays, and an uptick in surgical procedures.

A large contributor to this surge is the hospital sector, which held a dominance of more than 50% share in 2022. Fuelled by the rise in hospital admissions and growing awareness about HAIs, this sector's growth is projected to soar at an enviable CAGR of 10.50% in the coming years.

Simultaneously, the surgical supplies segment leads product types with a 19.53% share in 2022 and is expected to grow at a remarkable CAGR of 12.31%. As the frequency of surgeries rises, so does the demand for surgical gloves, gowns, drapes, feeding tubes, and procedure kits, powering forward the growth of the US disposable medical supplies market.

Emerging trends are also accelerating growth, particularly technological advancements in medical supplies for home care settings. In 2020, single-use or disposable medical devices were considered a significant cost-saving alternative to reusable medical supplies. As a result, major market players are focusing on developing advanced technologies to secure their market positions.

Moreover, strategic initiatives by these key players are anticipated to drive market growth. For example, in May 2019, 3M acquired Acelity to bolster its wound management solutions, demonstrating the proactive steps to stimulate the market further.

Be part of this exciting growth trajectory. Invest in the booming US disposable medical supplies market now and experience remarkable returns as it expands and innovates. Now is the perfect time to seize the abundant opportunities this dynamic and rapidly evolving market offers.

Key Highlights:

• In the US, the disposable medical supplies market was valued at $119.17 billion in 2022 and is expected to reach $228.38 billion by 2028, growing at a CAGR of 11.45%.
• The demand for disposable medical supplies is on the rise due to multiple factors, including the rising number of surgical procedures, an increase in hospital-acquired infectious diseases (HAI) and other chronic conditions, and growing awareness of the importance of maintaining health and hygiene are the major factors driving the growth of the disposable medical supplies market.
• In product type segmentation, the surgical supplies segment accounted for the highest share of 19.53% in 2022 and is projected to grow at the highest CAGR of 12.31% during the forecast period. The increasing demand for disposable surgical supplies is due to the number of surgeries conducted. As the number of surgeries increases, so will the need for surgical gloves, gowns, drapes, feeding tubes, and procedure kits and trays, propelling the growth of the US disposable medical supplies market.
• In end-user segmentation, the hospitals’ segment accounted for the highest share of 51.25% in 2022 and is projected to grow at the highest CAGR of 10.50% during the forecast period. This dominance can be attributed to the rise in hospital admissions for surgeries and treatments, increasing awareness about hospital-acquired infections, and the high usage of disposable medical supplies in hospitals.
• The technological advancements in medical supplies for homecare settings are key trends being observed in the disposable medical supplies market. Major players in the market are focused on enhancing their product portfolio with advanced technologies to retain their foothold. In 2020, single-use or disposable medical devices were considered a significant cost-saver compared to cost-effective reusable medical supplies.
• Medline Industries Inc, Cardinal Health, 3M Company, Smith+Nephew, and Terumo Medical Corp are some leading players currently dominating the disposable medical supplies market. The major players focus on strategic acquisitions and collaborations with emerging players to enter the disposable medical supplies market and access commercially launched products.