12 August 2022

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M&M: medical supply market to near $164B

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The global marketplace for medical supplies is anticipated to reach a value of $163.5 billion in 2027, according to a report from market research company, MarketsandMarkets. The 2022 value of the market was estimated to be $138.4 billon, with the increase from 2022 to 2027 estimated at a CAGR of 3.4%.

Growth across the market was thought to be related to an increase in the geriatric population, a higher number of research investments, a high rate of chronic diseases, and an uptick in the number of surgeries.

By application segment, dental care was among the group which took up the greatest share of the market. This is thought to be due to the increased rate of dental disease. 

When viewing the end user segment, hospitals held the largest share of the market in 2021, compared with clinics and physician offices. 

By region, North America held the largest share of the market in 2021. The area’s top status was thought to be propelled by the high rate of chronic disease, high number of industry players, and the high degree of healthcare infrastructure.