Disposable hospital supplies market to increase at a CAGR of 6.4%

The disposable hospital supplies market grew at a compound annual growth rate (CAGR) of 6% between 2004 and 2011, and is expected to increase further at a CAGR of 6.4% to reach a market value of $15.4 billion in 2018.

Industry growth will be promoted by an expanding volume of patient care activity spurred by aging demographic patterns, a rising incidence of diseases and disorders, and the extension of health insurance coverage by the Affordable Care Act of 2010.

Furthermore, growing concerns about hospital acquired infections (HAIs) are driving the demand for disposable needles and syringes, as they reduce risks of cross-contamination.

Drug delivery devices will remain the largest and fastest growing group of disposable hospital supplies, with demand reaching $12.2 billion in 2016.

State healthcare systems are being pressured to impose active measures against HAIs, and their prevention, control and management have fuelled the demand for single-use products.

Governments in developed countries are encouraging the use of disposable hospital supplies in order to reduce healthcare costs incurred in treating HAIs.

With the overall annual direct cost of HAIs to US hospitals ranging between $28 and $34 billion, the use of medical disposables is well worth the price.

For more information on the disposable hospital supplies market, see the latest research: Disposable Hospital Supplies Market Report

Follow us on Twitter @CandMResearch