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Health & Medical

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Health and Medical Manufacturers, Suppliers, and Exporters


Health and medical equipment are medical devices that offer convenient, safe, cost-effective, and suitable medical solutions to patients. The market for medical equipment has transformed within recent years, owing to an increase in multiple diseases across the globe.


Further, oxygen-related medical equipment is gaining high praise, due to the massive increase in chronic diseases worldwide. Various devices are used for patient care at home as well, for example, surgical equipment, medical consumables, healthcare supplements, medicines, etc.


Surgical Instruments


These are in high in demand items owing to increasing diseases and incidents across the globe. Medical facilities always need surgical items to carry out surgeries on time. As per research, the market for surgical instruments was recorded at around $950 billion in 2019 and it is projected to grow at a CAGR of 6.54% and would touch the volume of $1513.50 billion by 2027.


Medicines


Due to increased research and development by giant pharmaceutical companies around the world, demand and overall market size of medicines are on the rise. The global market size for medicine is expected to reach USD 796.8 billion by 2028. The market is projected to expand at a CAGR of 6.2% from 2021 to 2028.


Clinical Analytical Instruments


Analytical instrumentations encompass a range of equipment. The principal purpose of these instruments is to quantitatively and qualitatively analyze



  • Samples

  • The chemical makeup of a sample and

  • Quantity of every component within a sample


As per research, the global market for clinical analytical instruments was valued at $29,741.72 Million in 2020 and will grow at a CAGR of 5.44% by 2027.


Medical Consumables


The market for medical supplies such as safety lancets, gauze swabs, bandages, forceps, sports tape, etc. is expanding due to overall growth in the health and medical industry. The biggest drivers of this industry are the emerging markets of China and India. As per research, the global medical consumables market is projected to reach $132.6 billion at a CAGR of 46% by 2025.


Health Care Supplement


The world is going towards organic eating. This significant change has ignited the growth of health care supplements across the globe. The supplement market is now driven by rising health awareness, the shift of consumer preferences, the growing population, and the adoption of a healthy diet. As per research, the global healthcare supplements market size was valued at $136.2 billion in 2020 and it is projected to reach $204.7 billion by 2026, at a CAGR of 7.0%.


Ultrasonic, Optical, and Electronic Equipment


Ultrasonic medical equipment for diagnosis is on the rise due to increased use in medical facilities. As per research, the global medical ultrasound equipment market to hit the mark of $8.6 Billion by 2027 at a CAGR of 5%.


Similarly, the global market for optical imaging equipment is projected to grow to $3.3 billion by 2026 from $1.6 billion in 2021, at a CAGR of 14.8%.


Plant Extracts


Herbal extracts are used frequently by global consumers. Therefore, the aggregate demand in the overall market remains high throughout the year. According to research, the global plant extracts market was estimated at US$26.9 Billion in 2020. However, it is projected to reach a revised market size of US$73.2 Billion by 2027 at a CAGR of 15.4%.


Lab Equipment


As mentioned earlier, research and development are done by global MNCs on a massive scale. The laboratory equipment market is projected to grow by $6.30 billion during 2020-2024, at a CAGR of around 7%.


Way Forward


All the projections discussed above are made with a conservative approach due to COVID-19. Countries are unsure of COVID-19 variants. However, companies dealing in the health and medical sector mentioned above would see a steep increase in their revenue once the world goes back to normal.

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