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Medical Products Market 2020 growth factors, latest trend and regional analysis of leading players by 2026

Author : Ronak Bora | Published Date : 2020-09-03 

Growth in medical products market share is attributed to the increasing investment globally made towards the enhancement of healthcare facilities along with the considerable growth in the ageing population. Rise in the number of sports injuries and accidents along with a large number of patients experiencing difficulties to perform their daily activities due to disabilities is warranting the consumption of medical products.

Accidents, injuries and most forms of disabilities often lead to hospital admissions to facilitate complete treatment. Medical beds such as examination beds, patient beds, gurney beds, and other types are increasingly witnessing widespread demand across the globe. Statistically, in the year 2019, medical beds segment was valued at close to USD 3.5 billion and is likely to witness considerable gains in the projected years.

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Nearly 46% of the global elderly population experiences some form of physical difficulties. Efforts are being made by the governments in both emerging and developed nations to boost their healthcare sector due to the increasing cases of chronic diseases among people of all age groups. It is believed that healthcare expenditure by Europe and the U.S. amounts to nearly 12% and 18.5%. Increasing investment in healthcare is permitting the development of advanced, reliable and customer-specific medical products.

In 2019, the medical beds segment accounted for revenue generation of USD 3.5 billion owing to the rapid growth in the requirement of medical beds across private hospitals along with technological advancements in ICU beds. Also, rise in number of patients suffering from chronic diseases may further fuel product demand. For instance, the COVID-19 outbreak has led to a surging requirement for medical beds to treat patients affected by the deadly coronavirus.

According to a recent data by the CDC (Centres for Diseases Control and Prevention), there are an estimated over 8.6 million sports and recreation related injuries in the United States alone. Escalating number of road accidents and sports injuries will bolster the demand for medical products.

Home healthcare is a rapidly expanding segment and is likely to showcase growth at more than 6.4% through 2026. The preference for home healthcare is increasing owing to increasing healthcare costs and growing requirement of affordable treatment options.

Moreover, government initiatives focussed towards spreading awareness regarding benefits of home healthcare may encourage adoption of homecare practices and related equipment.

Canada medical products market is set to grow at 5% over the forecast period on account of rise in number of injuries as well as increasing expenditure of healthcare facilities on development and refurbishment.

For instance, as per a recent data by CIHI (Canadian Institute for Health Information), more than 22% of the total visits to emergency centres across the country are due to common injuries. Growing focus of the regional government on improving healthcare facilities for the citizens will spur medical products business landscape in the region. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/medical-products-market

Partial Chapter of the Table of Content 

Chapter 4.  Medical Products Market, By Product

4.1. Key segment trends

4.2. Wheelchairs

4.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.2.2.  Manual Wheelchairs

4.2.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.2.2.2.  Folding Frame Manual Wheelchairs

4.2.2.2.1. Market size, by region, 2015 – 2026 (USD Million)

4.2.2.3.  Rigid Frame Manual Wheelchairs

4.2.2.3.1. Market size, by region, 2015 – 2026 (USD Million)

4.2.3.  Powered Wheelchairs

4.2.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3. Medical Beds

4.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.2.  Patient Beds

4.3.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.3.  Examination Beds

4.3.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.4.  Massage Beds

4.3.4.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.5.  Gurney Beds

4.3.5.1.  Market size, by region, 2015 – 2026 (USD Million)

4.3.6.  Others

4.3.6.1.  Market size, by region, 2015 – 2026 (USD Million)

4.4. Walkers

4.4.1.  Market size, by region, 2015 – 2026 (USD Million)

4.4.2.  Double Handed Walkers

4.4.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.4.3.  Single Handed Walkers

4.4.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.5. Bathroom Assistive Products

4.5.1.  Market size, by region, 2015 – 2026 (USD Million)

4.5.2.  Commodes

4.5.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.5.3.  Bathtub Seats

4.5.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.5.4.  Shower Seats

4.5.4.1.  Market size, by region, 2015 – 2026 (USD Million)

4.5.5.  Others

4.5.5.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6. Orthopedics

4.6.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.2.  Cervical Collar Support

4.6.2.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.3.  Shoulder Support

4.6.3.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.4.  Arm Sling

4.6.4.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.5.  Wrist Splint

4.6.5.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.6.  Abdominal Binder

4.6.6.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.7.  Maternity Belt

4.6.7.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.8.  Elastic Bandages

4.6.8.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.9.  Air Shield Walker

4.6.9.1.  Market size, by region, 2015 – 2026 (USD Million)

4.6.10. Knee Support

4.6.10.1.  Market size, by region, 2015 – 2026 (USD Million)

Chapter 5.  Medical Products Market, By End-use

5.1.   Key segment trends

5.2.  Hospitals

5.2.1.   Market size, by region, 2015 – 2026 (USD Million)

5.3.   Ambulatory Surgical Centers

5.3.1.   Market size, by region, 2015 – 2026 (USD Million)

5.4.  Home Healthcare

5.4.1.   Market size, by region, 2015 – 2026 (USD Million)

5.5.   Others

5.5.1.   Market size, by region, 2015 – 2026 (USD Million)

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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