August 23, 2022 18:00 ET | Source: FACT.MR FACT.MR
South Korea, Seoul, Aug. 24, 2022 (GLOBE NEWSWIRE) -- As per in-depth industry analysis by Fact.MR, a market research and competitive intelligence provider, sales of medical disposables are expected to increase at a CAGR of 7.3% over the forecast period (2022-2026).
Products designed to be used only once or temporarily to provide high-quality patient care are referred to as medical disposables. These single-use items, which can substitute equipment that requires a lengthy sterilization process, include gloves, face masks, blood bags, and needles. The production of medical disposables is not only influenced by cost but also by other elements such as efficiency, safety, lifespan, and substance. Medical disposables are very easy to use and don't need to be sanitized because they are only meant to be used once.
Medical disposables are increasingly needed to ensure safety and hygiene due to an increase in infections acquired in hospitals as well as illnesses during operations and maternity care.
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Extended diabetes causes diabetic foot ulcers, which increases hospital stays in turn. This will have a positive impact on the market growth throughout the forecast period. Additionally, it is anticipated that the market will expand due to the growing older population across the world.
Key Takeaways from Market Study
Market players are putting efforts into developing unique items that garner more attention from all over the world. Key companies are also implementing a variety of techniques to improve their position in the market for medical disposables. Such initiatives by major firms are projected to fuel market expansion over the coming years.
“Emerging Market Players Focusing on Manufacturing Modern & Cost-effective Products”
Emerging market players are developing disposable forceps, blades, and other devices as costs for medical device production have decreased. Additionally safe and pre-sterilized, disposable medical equipment helps hospitals and patients cut expenditures.
New companies are concentrating on the release of advanced and affordable products. New entrants build strategic alliances with leading competitors to make a mark in the industry.
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Top companies in the medical disposables market are strategically choosing to engage in mergers and acquisitions to diversify their product offerings and increase their market share. Suppliers of medical disposables are concentrating on business growth and other tactics to increase their market share globally.
In 2021, for its brand-new single-use bronchoscope, PulmoONE, PENTAX Medical Europe, a business that serves the endoscopy industry, received the CE mark. HD image quality and a strong suction force are two features of the single-use bronchoscope PulmoONE.
Key Segments in Medical Disposables Industry Research
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global medical disposables market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2026.
The study divulges essential insights on the market on the basis of product (surgical instruments & supplies, bandages & wound dressings, infusion & hypodermic devices, diagnostic & laboratory disposables, respiratory products, incontinence products, nonwoven medical disposables, dialysis disposables, others), raw material (plastic resins, nonwoven materials, rubber, paper & paperboard, metals, glass, others), and end user (hospitals, home healthcare, outpatient/primary care facilities, others), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
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