Demand for disposable medical products will increase 4.1 percent annually in the United States, reaching a value of $49.3 billion in 2018, according to business research group Freedonia (Cleveland, OH).
"An increasing volume of patient activity attributable to an aging population, a rising incidence of medical conditions, and the extension of health insurance coverage by the Affordable Care Act of 2010 will comprise the major factors spurring growth," says analyst Bill Martineau. The domestic disposable medical supplies market will also benefit from a heightened focus on infection prevention throughout the healthcare sector.
A growing number of patients requiring surgery or long-term chronic care therapy, drug delivery, and related products will remain the fastest expanding group of disposable medical supplies. Total demand registered by this product group will rise 5.1 percent annually to $13.4 billion in 2018. Safety-enhanced devices for the minimally invasive delivery of parenteral medicines, inhalation therapies, and IV and dialysis solutions will lead growth, according to Freedonia.
Disposable wound-management products will post demand of $11.2 billion in 2018, up 3.8 percent annually from 2013. Polymer-based tissue sealants, along with alginate, foam, and collagen wound dressings, will realize the fastest growth based on enhanced safety and faster healing properties.
Conversely, demand for bandages will expand at a below average pace due to limited pricing flexibility and the overall lack of proprietary technologies. First aid kits will fare the best among other disposable wound management products, benefiting from trends promoting self-treatment.
These and other trends are presented in a new study on disposable medical supplies from Freedonia. For more information or to purchase a copy of the report, visit the Freedonia website.