According to a new market report published by Transparency Market Research "Medical Disposables Market (Drug Delivery, Wound Management Products, Non-woven Medical Disposables) - Global and U.S. Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018," the global medical disposables market was valued at USD 144.67 billion in 2011 and is expected to grow at a CAGR of 4.3% from 2012 to 2018, to reach an estimated value of USD 193.89 billion in 2018.
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The growing incidence of chronic diseases such as cancer, diabetes and cardiovascular, aging global population, coupled with increasing volumes of hospital admissions are the most important growth drivers for the medical disposables market. Furthermore, increasing inpatient and outpatient surgical procedures and the rising acceptance of home healthcare will fuel the future growth of this market.
The drug delivery products market held the second largest market share in 2011. In addition, it is expected to be the fastest growing segment of the total medical disposables market due to the introduction of technologically advanced products, such as drug infusion pumps, catering to an increasing pool of patients suffering from chronic diseases.
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The North American medical disposables market held the largest share of the global market at over 35% in 2011. The Asia-Pacific market is expected to exhibit the fastest growth rate during the forecast period due to the continuous economic development and the presence of high unmet medical needs in rapidly developing countries such as India and China.
Some of the key players of medical disposables market in 2011 include Johnson & Johnson, Covidien plc, Becton, Dickinson and Company and 3M Company.
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