The medical supplies market is predicted to grow to $435 billion by 2025 from $132.6 billion in 2020, at a CAGR of 4.6%, the market is growing so fast, the eCommerce business model is keeping its growth in almost every field and medical supplies is not an exception. The need for medical supplies is almost always urgent, and since people always need comparison and more getting informed about products, buying online seems to be a great way of doing it. The digital transformation is driving this increase in demand and the pandemic had a big impact on people’s behavior when it comes to looking for supplies.
The importance of having online businesses that ship medical supplies to people was obvious during the pandemic, during the lockdown eCommerce was the main canal for everyone to get supplies, people had the necessity of getting vitamins, masks and medical treatments for the sick and those who were most vulnerable to Covid-19.
The market of medical supplies half of it is B2C which means people like you and me trying to get what they need in moments of urgency or trying to win on managing time by buying online, one of the websites that you can check out for medical supplies is healthproductsforyou.com they are an authorized retailer with most of reputed brands in medical supplies equipment and an auto-reorder program if you need your supplies more frequently, they also have a good and flexible payment system, buying online is so much helpful and time saving.
Hospitals, medical institutions and clinics are relying more than ever on buying their medical suppliers online, a study has shown that in 2018 hospitals are the largest buyers of healthcare supplies online it’s over 53%, and that’s a no brainer in a field where everyone is trying to catch up to their needs and avoiding getting shorthanded.
Professional buyers have their special needs when it comes to buying needs, so they are well informed and the user experience can be crucial to decide whether to buy on a website or another, since detailed information quality of service and commitment need to be s presented on websites, that’s sometimes is more important than price and the product since the technical side is pre-approved by regulations and what counts probably more is the quality of the service.
The increasing prevalence of chronic diseases across the world is increasing governments and corporate investments in healthcare sector, building online and offline infrastructures and projects are on the rise due to the increasing demand for medical supplies.
Many of the emerging economics play a big role in developing the sector, countries such India and China show significant growth opportunities in the medical supplies and emergency medical supplies market, that was very noticeable at the COVID-19 pandemic, one of the major producers of vaccines is India, and since the crisis that hit the country with the rise of cases and the shortage shown in supplying vaccines to the world by one of the biggest producers of so many big Pharma companies such as Astra Zeneca.
The online supplies market is versatile and so many products can be found based on the type of the medical supplies, the market is segmented into many branches such as diagnostic purposes, intubation & ventilators, disinfecting products, protective equipment for personal use, consumables for sterilization, consumables for wound care, consumables for dialysis, radiology products, infusion & injectable supplies, catheters, sleep apnea consumables, and other medical supplies. The intubation & ventilation consumables segment is expected to grow at the highest CAGR during the forecast period. This is attributed to the rising incidence of respiratory diseases, such as asthma and COPD, along with the increasing prevalence of COVID-19 across the globe.
The medical ventilators market is expected to be growing at a CAGR of around 8% on the period from 2020 to 2027 and to get around $1729.8 Million by the year 2027.
The rise in incidence of chronic respiratory diseases across the world, the high government spending on developing advanced healthcare infrastructures, and the need for more advanced ventilators is a factor that is expected to drive the growth of the market, other than that what the pandemic has shown, the need of a big inventory to meet the need in cases like COVID-19 when countries had to face the shortage in ventilators in an unexpected scenario that was never imagined by governments and hospitals, this will have a big impact on the market for the future years to come.
The U.S. Health and Human Services Department, published numbers about people having asthma and the number is currently around more than 25 million in the united states alone, and 14.8 million adults have been diagnosed with COPD, and 12 million have yet to be diagnosed, add to all the side effects of covid-19 on millions of people,
Major industry players all around the world are focusing on increasing the production capacity of medical supplies and market them online so that everyone can get what they need from institutions hospitals, clinics, universities or laboratories to people just like you and me that will need to get their medical supplies without to lose much time looking in stores.