The Canadian hospital supplies market is registering a CAGR of 6.6%. Hospital medical equipment and supplies include various devices, tools, instruments, and medical consumables that are used in hospitals and healthcare establishments.
There have been advancements in technology that have improved the functionality of hospital supplies, resulting in the increased adoption of hospital supplies, such as needles and syringes, gloves, drapes, and gowns in the country. Almost all procedures in hospitals include some type of hospital supplies, underlining the importance of the hospital supplies market.
The Canadian hospital supplies market is increasing at a substantial rate, due to the upsurge in the number of hospitals, rapidly increasing aging population, and the increasing awareness about hospital-acquired infections (HAIs).
Key Market Trends
Patient Examination Devices Led the Market in 2018
Based on the type of product, the market is led by patient examination devices. The growing geriatric population and increasing incidence of hospital-acquired infections are fueling the growth of this product segment. According to the Canadian Patient Safety Institute, each year, about 8,000 Canadians die from hospital-acquired infections and 220,000 others get infected. As per the statistics, the increasing HAIs boost the market in the region.
The patient examination devices are capital equipment that require high initial capital. Consequently, their replacement rate is fairly low and, over the forecast period, the growth rate of this product segment may lower significantly.
Over the forecast period, the fastest-growing sub-segment under the type of product is expected to be disposable hospital supplies. The growth in the number of out-patient visits in Canada is primarily due to the increasing prevalence of acute infections, which is the main propellant for the high growth of disposable hospital supplies.
The leading vendors of hospital supplies in the Canadian market include Cardinal Health Inc. and 3M Healthcare. Other leading vendors include Boston Scientific and B. Braun Melsungen. The disposable hospital supplies market in Canada includes both big companies and many small companies. The companies have presences in different segments, including gowns, gloves, drapes, and procedure trays.
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