Newsline-International | October 2016
Demand for medical disposables to rise 6.2%
World demand for medical disposables is projected to increase 6.2 per cent annually to $273 billion in 2020. Due to high healthcare spending intensity, a high volume of patient activity, strict healthcare infection prevention protocols, and greater pricing flexibility, the US will remain the largest market for these products over the long term.
China will account for the fastest growing and second-largest share of demand through 2020 and beyond as its medical delivery system is expanded and upgraded to better serve its massive population. These and other trends are presented in World Medical Disposables, a new study from The Freedonia Group, a Cleveland-based industry research firm. Western Europe will remain the third-largest major market for medical disposables, reflecting the operation of a universal health insurance plan and an advanced medical delivery system in most countries. On the downside, growth prospects for medical disposables in the region will slow due to tight cost controls such as budgeting and fixed reimbursement rates.
Demand for medical disposables in Eastern Europe will remain concentrated in basic commodities such as bandages, sutures, and general patient support goods. The Czech Republic, Hungary, and Poland will see the fastest and most diverse revenue growth in the region as they are the only nations that operate modern medical delivery systems. Economic and political challenges have limited the production and consumption of medical disposables in Russia. However, by virtue of its sizable population and large base of hospitals and physicians, Russia will comprise the fourth largest national market for the products in 2020.