Global medical disposables market forecast to hit $245 billion in 2018Global medical disposables market forecast to hit $245 billion in 2018
Ongoing efforts to stamp out hospital-acquired infections, an increase in inpatient and outpatient procedures, and rising global sales of direct-to-consumer medical products will fuel growth in the medical disposables sector, according to a study from the Freedonia Group (Cleveland, OH). Global demand for medical disposable products is forecast to rise 6.6% annually to reach $245 billion by 2018.
October 1, 2014
Products designed to treat or manage chronic conditions will achieve the fastest revenue growth, according to Freedonia analysts. Drug-delivery devices and, notably, products with safety features that prevent needlesticks, such as the Needle-Trap device developed by Schreiner Medipharm [http://www.plasticstoday.com/articles/Schreiner-Medipharm-receives-best-supplier-award-Needle-Trap-device-140830], will be large revenue generators. The World Medical Disposables report also cites innovative prefilled inhalers and transdermal patches, which enable patients to self-manage chronic conditions, as winners in the global marketplace.
While growth will be more muted in the developed markets of the United States, western Europe, and Japan, emerging economies will pick up the slack as they expand and modernize their healthcare infrastructure and adopt formal infection prevention protocols.
The 10 largest markets, accounting for two-thirds of total demand in 2018, are the United States, China, Japan, Russia, Germany, France, Brazil, India, Italy, and the United Kingdom. Average annual growth in these markets during the forecast period will range from 3.6% in Japan to 15% in China, according to analyst Bill Martineau.
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