Disposal of medical waste has become a daunting task for healthcare practitioners as the need for sustainable disposal solutions has become a pressing one. This has brought the packaging materials being used for storing medical devices into the spotlight. To reduce the impact of medical wastes on the environment and to minimize the chances of cross-contamination, players operating in the global medical disposables market are focusing on thoughtful product engineering and design. The key players in the global market are Johnson & Johnson, Dickinson, and Company, Becton, 3M Company, and Covidien plc.
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Q. What are the recent developments in the global medical disposables market?
A. In June 2016, Husky Injection Molding Systems won the Process Innovation Supplier award from Becton Dickinson. The award was in recognition of the company’s effort towards promoting Becton Dickinson’s vision to improve customer satisfaction levels while meeting the needs to develop effective solutions for disposal of medical wastes. Husky’s Medical Business Unit stated that it intends to reduce the amount of waste and the cut down on the capital expenses that are lost in managing the waste materials. The company has also shown a promise of improving productivity and optimizing the floor space.
According to the research report the global medical disposables market is anticipated to be worth US$193.9 bn by the end of 2018 rising from US$144.6 bn in 2011, as the market progresses at a CAGR of 4.30% CAGR between 2012 and 2018.
Q. Why will certain end users benefit during the forecast period?
A. The end users in the global medical disposables market are emergency care units, home healthcare facilities, outpatient facilities, physician offices, and hospitals. Of these, the hospitals are the prime end users due to the growing number of patient admissions, emergency visits, and high frequency of surgical procedures. However, the home healthcare segment is anticipated to be fastest-growing one in the near future as the healthcare sector is focusing on reducing the number of readmissions, hospital stays, and providing preventive medical assistance to the elderly. This trend is predominantly being seen in the U.S.
Q. Which region besides North America will witness a significant growth rate?
A. In terms of geography, the global disposables market is segmented into North America, Europe, Asia Pacific, and Rest of the World. Out of these four regions, the North America medical disposables market is anticipated to soar in the coming years, primarily due to a dependable healthcare infrastructure. According to the extensive research report, North America held a share of about 70% in the overall market in 2011. The region is expected to witness a remarkable growth rate due to a growing awareness about healthcare issues.
Asia Pacific is also anticipated to be an emerging region in the global medical disposables market due to a large pool of patients, rising expenditure on healthcare, and improving disposable incomes.
The high prevalence of diseases, growing pool of geriatrics, and increasing demand for healthcare are all contributing towards the growth of the global medical disposables market. Analysts predict that growing volumes of patient admissions and the need for diagnostics will continue to propel the demand for medical disposables in the coming years. However, tough approval norms set by FDA and GMP are expected to restrain the market in the forecast years, predict analysts.