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Medical Supplies Market - Future Growth, Comprehensive Analysis & Key Players

According to the new market research report Medical Supplies Market by Type (Diagnostic, Dialysis, Wound Care, Disinfectants, PPE, Radiology, Sterilization, Catheters), Application (Urology, Cardiology, Infection Control), End User (Hospitals, Clinics & Physician Offices) – Global Forecast to 2025″, published by MarketsandMarkets™, is projected to reach USD 133.5 billion by 2025 from USD 132.6 billion in 2020.

Browse in-depth TOC on “Medical Supplies Market
126 – Tables
45 – Figures
227 – Pages

The increasing prevalence of chronic diseases across the globe, increasing government and corporate investments in healthcare projects and infrastructure development, rising demand for infection control measures to curb the occurrence of HAIs, and the rising demand for medical devices are driving the growth of the global medical supplies market. Moreover, the rising medical tourism and emerging markets are expected to offer significant growth opportunities to players operating in the market for coming years.

Catheters accounted for the largest share of the medical supplies market, by type, in 2019

By type, segmented into diagnostic supplies, infusion & injectable supplies, intubation & ventilation supplies, disinfectants, personal protective equipment, sterilization consumables, wound care consumables, dialysis consumables, radiology consumables, catheters, sleep apnea consumables, and other medical supplies. The intubation & ventilation supplies segment is expected to grow at the highest growth rate during the forecast period. The growth of this segment is driven mainly by the rising prevalence of respiratory diseases such as asthma and COPD across the globe.

The other applications segment accounted for the largest market share in 2019

The applications market is categorized into urology, wound care, radiology, respiratory, infection control, cardiology, IVD, and other applications. The other applications segment held the largest market share in 2019, due to factors such as the increasing number of surgical procedures, rising prevalence of dental diseases, and the increasing focus on adhering to proper waste disposal methods.

Hospitals accounted for the largest share of the medical supplies market, by end user, in 2019

The end-user segment of this market is categorized into hospitals, clinics/physician offices, and other end users. Hospitals form the largest and the fastest-growing end-user segment in the medical supply market. This can be attributed to the increasing investments in healthcare systems and the high prevalence of infectious and chronic diseases.


North America was the largest regional market for medical supplies in 2019

The global medical supplies market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest market share, followed by Europe. The increasing incidence of COVID-19 in the US and the implementation of various supportive initiatives by the Canadian Government are the major factors driving the growth of the market in North America.

The prominent players operating in the global medical supplies market include Medtronic (Ireland), Cardinal Health, Inc. (US), BD (US), Johnson & Johnson (US), B. Braun Melsungen AG (Germany), Boston Scientific Corporation (US), Thermo Fisher Scientific, Inc. (US), Baxter International, Inc. (US), Avanos Medical, Inc. (US), 3M (US), Smith & Nephew (Ireland), ConvaTec Group Plc. (UK), Abbott (US), Cook Medical (US), Merit Medical Systems (US), Stryker (US), Terumo Corporation (Japan), Teleflex Incorporated (US), Fresenius Medical Care AG & Co. KGaA (Germany), and Coloplast Group (Denmark).
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The sensor is also compact and has no mounting direction and AC/DC free supply power is available. The COVID-19 pandemic and the consequent lockdowns worldwide have massively disrupted global logistics and supply chains. This has caused new challenges for manufacturing and distribution operations. The increased restrictions on goods' movement have caused havoc in the industry. China, the world's largest manufacturer of raw materials and finished products, has shut down all the manufacturing units due to the spread of viruses. As the raw material was not supplied, level sensor manufacturers worldwide have to face the shortage of the material and could not cater to the customers' demand. CONCLUSION The level sensor market has tremendously evaluated in the last few years. The advancement in technology has provided higher accuracy, efficiency, easy installation and level sensor maintenance, leading to its growth in the market. The increasing use of the level sensor in the oil and gas industry has raised its demand in the market. The new advanced and accurate sensors in the market have increased the government sector's need for the level sensor. Also, the adoption of this technology in different industries such as food and beverage, power generation, chemical and others has led to the market's growth. Also, the contactless solution provided by the company has raised the demand for the level sensor in the market.
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How Impacted COVID-19 on Intelligent Vending Machines in Semiconductors & Electronics Industry ?
Impact of COVID-19 on Intelligent Vending Machines in Semiconductors and Electronics Industry The pandemic begins with its epicenter in China in 2019 and has been continuously spreading by then to all over the globe, so far 216 countries and territories have been affected with COVID-19. The COVID-19 cases reaching to various countries which have strong dominance in the worldwide market and have adversely affected the economic growth globally. The spread of coronavirus has led to severe disruption such as global recession, many organizations are being forced to take stringent actions as lying of their employees and staffs, small and medium business is being shut down, and manufacturing & production facilities are being put on hold for a longer period. However, apart from this, the demand for food and beverages witnessed huge growth but this has increased the shortage of supply chain due to the panic buying from the populations. Similarly, the demand for the pharmaceuticals, chemical, and healthcare industry also increased as new solutions and medicines are getting introduced for taking preventive measures. There has been a disruption in the supply chain of many industries due to restrictions in logistics and the closing of manufacturing facilities. In addition, the slowdown in the economy has lowered the spending capability of individuals and people are saving money for emergencies. The intelligent vending machines are controlled by a computer and backed by a cloud-based management system. The cloud allows for live inventory monitoring and sales data that was previously unavailable or extremely delayed. Vending machines have evolved into a new class of automated retails kiosks with the use of modern technology. The range of products that can be dispensed by these machines is unbelievable. A custom vending machine can also be created that can be customized to the products that are dispensed. STRATEGIC DECISIONS FOR SERVICE PROVIDERS AFTER COVID-19 TO GAIN COMPETITIVE MARKET SHARE The market players are now taking many strategic decisions to gain their market share and profit after COVID-19. Strategic decisions such as mergers & acquisitions and technological innovations are helping market players to regain their share. The companies are converting their intelligent vending machines into unmanned retailers with limited space and this strategic decision will help the companies to boost their sales as these kinds of vending machines are capable of dispensing any goods irrespective of their size and shape. The integration of IoT in vending machines will help companies to increase their sales. DEVELOP NEW SOLUTION The Intelligent vending machines will need to be staffed differently to cater 24*7 to provide service. The companies are developing new solutions by strategic partnership and collaboration. OFFER NEW SERVICES TO MANAGE THE INTELLIGENT VENDING MACHINES SOFTWARE The companies are trying to offer new services to the customers with the help of new strategies and opportunities and also due to recent development in vending machine products and services. By maximizing the operational opportunities to minimize the cost, the companies are investing in R&D to improve their services. The use of vending machines allows businesses to operate 24 hours a day 7 days a week. OTHER GROWTH OPPORTUNITIES FOR MARKET PLAYERS TO PURSUE IN 2020 The vending machines and micro-markets leave a space for a solution that has significant potential growth. This type of machine will include a full micro market with a reasonably large number of SKUs. Several North American and European operators are offering such solutions. AFTERMATH STRATEGIES FOR INTELLIGENT VENDING MACHINES MARKET AND GOVERNMENT ROLE The COVID-19 pandemic was not predicted by any government to be ready for. The pandemic resulted in many changes brought by the government to the usual norms of operations for multiple industries around the world. The pandemic affected the market and consumer behavior, this created volatility in the economy. Smart vending machines are the next evolution of retail because they allow the business to reach customers in new locations and new ways. They also serve customers with ease and efficiency by only displaying what selections are in stock. For instance, § Vending machines of Azkoyen will be installed in the new AVLO trains, the low-cost high-speed train. These vending machines will provide drinks and snacks to more than 400 Avlo passengers with their automation. OPPORTUNITIES FOR THE MARKET IN COVID-19 SITUATION To improve and reinforce the services of traditional vending machines, AAEON has provided an intelligent solution to facilitate their functions. Ideally, smart vending machines integrate seamlessly with important systems including commerce, ERP, operations, and inventory management. The industry is now growing towards API-driven, headless commerce supports integration with any touchpoint. For instance, · The smarter solution, called brainy, offers an exceptional shopping experience. Along with the coming of the Internet of Things (IoT) age and its increasing prevalence in our daily lives, Brainy supports Intel Realsense technology through AAEON’s “UP” board, a credit-card-sized single-board computer. IMPACT ON DEMAND The pandemic has caused a decrease in demand for vending machines. With the fast converting life of the population and digitalization in vending machines such as IoT, the companies are under the transformation of their products such as cashless payments and safe products delivery which will eventually help in increasing demand. The COVID-19 has impacted the demand for the vending machines as the employees started working from home. 80% of the vending machines were majorly located at offices and workplaces which are closed and ultimately causing a failing economic activity. The healthcare industry has not seen a much decline in vending machines as they are essential for healthcare personnel. The overall COVID-19 has impacted the demand for vending machines negatively. For instance, · The Azkoyen Group, a leading Spanish technology offers automated vending machines has received an award. The award is regarding the best vending machine supplier and has great technology of automation. IMPACT ON SUPPLY CHAIN The COVID-19 pandemic has affected the market but the services are now shifted towards cloud platform which is very easy and flexible to use. These cloud platform services also save the cost of the companies as they are paying as you use services but this has increased intelligent vending machines and services. The COVID-19 has also affected the supply chain of intelligent vending machines which results in the loss of the industry. Due to lockdown imposed by the states and taking into consideration the safety, the installation of the intelligent vending machines was on hold as the supply chain was hampered. The cost of supplying machines and their spare parts were also increases which ultimately increases the prices of intelligent vending machines. IMPACT ON PRICE The lockdown imposed by the government of the countries had adversely impacted the prices of the intelligent vending machines services due to the implementation of remote working. The prices of the services have been increased as the software has been shifted to the cloud which has resulted in increasing physicals security. The prices of the vending machines have been increased as now the traditional vending machines have been replaced by automated vending machines which incurred high cost and ultimately affect prices. A vending machine is a retailer with limited space and such engineering requires high cost which will increase the prices of the intelligent vending machines. CONCLUSION The micro-markets are not only for traditional vending machine operators. By the nature of operations and data management, the micro-market can be an ideal solution for retailers wishing to expand beyond the store and allow customers 24/7 availability of the products. The digitized systems, equipped with a large number of sensors and available data will become a rich source of data to be analyzed for the stakeholders which will help in finding trends and growth. The different innovations in vending machines such as the integration of IoT which supports cashless payments, safe delivery are the market opportunities. Companies are now simplifying convenience by using such technological innovations. The market is now moving towards unmanned retail stores due to pandemics which can be a great opportunity for the vending machine market as they can deliver goods and any packaging units. The growth of the market will be slow after the pandemic but it will surely rise and will gain popularity.