India Hospital Supplies Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.14 Billion |
| Market Size (2029) | USD 1.65 Billion |
| CAGR (2024 - 2029) | 7.66 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Hospital Supplies Market Analysis
The India Hospital Supplies Market size is estimated at USD 1.14 billion in 2024, and is expected to reach USD 1.65 billion by 2029, growing at a CAGR of 7.66% during the forecast period (2024-2029).
The impact of COVID-19 was significant on the market studied owing to the increased demand for hospital supplies. For instance, in April 2021, The WHO and UNICEF acquired equipment and supplies such as 7,000 oxygen concentrators and 500 nasal oxygen devices, oxygen-generating plants, COVID-19 testing machines, and personal protective equipment to supply in India. WHO assisted India in increasing hospital beds by acquiring mobile field hospitals to be put up in the most impacted districts. Therefore, COVID-19 significantly impacted the Indian hospital supplies market due to the rise in the adoption of hospital equipment in India. Delayed elective procedures, including surgical procedures, transplants, and non-essential treatments, rose over the last two years. Therefore, hospital supplies continued to rise ever since the outbreak.
The India hospital supplies market is primarily driven by factors such as the rising burden of chronic diseases and the growing demand for hospital supplies in the country.
The demand for hospital supplies is on the rise in developing countries such as India. Steady growth in initiatives taken by the Government of India to improve the healthcare system has also been observed. For instance, in July 2021, a scheme on India Covid-19 Emergency Response and Health Systems Preparedness Package-Phase-II (ECRP-Phase-II) was approved by the Cabinet for an amount of USD 3,100.6 million (INR 23,123 crores), which was implemented in 9 months from July, 2021 to March, 2022. Under the scheme, all the States and UTs were provided with necessary financial support and the supply of essential materials such as PPEs, N95 masks, ventilators. A growing healthcare infrastructure and rising government initiatives to enhance and expand health care facilities are augmenting the demand for hospital supplies, which is expected to boost the market in India.
Additionally, according to the Elderly in India 2021 report, around 137.9 million people over the age of 60 years were living in India. The numbers are projected to rise to 193.8 million by 2031. Around 23% of the elderly population have multi-morbidities, with elderly women being more likely to have such disorders. Also, according to IDF 2021 report, 1 in 12 adults in India is affected by diabetes in the current year. More than half (53.1%) of people living with diabetes in India are undiagnosed. The rise in chronic illness and comorbidities in elderly population in India is expected to drive the growth of India hospital supplies market during the forecast period.
Furthermore, in December 2021, according to the India Brand Equity Foundation, imports from nations like the United States, Germany, and China accounted for 75% - 80% of the Indian medical device market. According to the same source, medical devices were a lucrative market for American companies. The rising demand for medical devices in India is therefore expected to propel the market growth.
Therefore, owing to the aforementioned factors the market studied is anticipated to witness growth over the analysis period. However, the emergence of home care services may impede market growth.
India Hospital Supplies Market Trends
Disposable Hospital Supplies Segment is Expected to Hold a Significant Share in the Market Over the Forecast Period
The disposable hospital supplies segment is expected to hold a significant market share due to its rising demand and importance in hospitals. The disposable hospital supplies are one-time-use products, such as consumables, medical apparatus, and disposable devices, consumed in large amounts across all hospitals. These products, such as suction catheters, bandages and wraps, examination gowns, surgical sponges, face masks, hypodermic needles, gloves, and others, are in continuous use by all hospital professionals in any domain from cleaning to the surgical theaters, as well as administrative departments in some cases.
According to a news published in December 2021, India imported USD 6.24 billion medical devices in 2020-21, an increase of roughly 7% compared to the prior two years. Among the imported medical devices in 2020-21, consumables and disposables accounted for a significant share of USD 1.5 billion. The rising demand for disposable hospital supplies has led to increased adoption, thereby driving the growth of this segment in the Indian hospital supplies market.
Moreover, COVID-19 also significantly impacted this segment's growth in the India hospital supplies market. The disposable syringes used for the COVID-19 vaccination propelled the segment's growth. For instance, according to a Down to Earth article published in December 2021, most developing countries, including India, used auto-disable syringes, as directed by the WHO for COVID-19 vaccination. By 2022 and 2023, the whole world's population should have two doses of vaccine, according to the United Nations, which also forecasts a scarcity of one billion syringes in the near future. This is further expected to drive the growth of this segment in the India hospital supplies market.
Thus, continuous growth has been observed in adopting these devices, owing to the growing number of hospitalization rates, rising concern of safety and cleanliness against hospital-acquired infections, and maintaining hygiene across the hospitals, thereby driving the market growth.
Strategic Initiatives Undertaken by Government and Market Players in India is Also Contributing to the Market Growth
The rising government initiatives and product launches by the key players are estimated to boost market growth during the forecast period.
The local market players are investing heavily in product development and launches to boost medical device manufacturing in India, which is projected to expand the country's hospital supplies market. For Instance, in April 2022, Wipro GE Healthcare, a global medical technology and digital solutions innovator, launched its next-generation Revolution Aspire CT (Computed Tomography) scanner. Revolution Aspire is designed and manufactured end-to-end in India, at the newly launched Wipro GE Medical Devices Manufacturing plant, in line with the 'Atma NirbharBharat' initiative. The indigenous developments in the country are projected to be a cheaper option for hospitals and thereby anticipated to fuel market growth in India.
Investments in medical devices are increasing in India, which is anticipated to create opportunities for market growth. The India Brand Equity Foundation December 2021 update reported that the Indian medical device market growth is mainly driven by 75-80% imports from the countries such as the United States, China, and Germany. In addition, in recent times, exports have seen a surge in demand. The 'Atma Nirbhar' Bharat mission is providing momentum to India's vision of becoming a global manufacturing hub for medical devices. This is expected to fuel the hospital supplies market growth in India since medical devices are widely used in hospitals for various treatment and diagnostic procedures.
India Hospital Supplies Industry Overview
The market for hospital supplies in India is fragmented due to the presence of many international and local companies. The competitive landscape includes an analysis of a few global and local companies that hold major or significant shares and are well known. Some key players are Baxter, B. Braun SE, 3M, Cardinal Health, Medtronic Plc, Johnson and Johnson, Becton Dickinson and Company, Thermo Fisher Scientific, Boston Scientific, and General Electric Company (GE Healthcare).
India Hospital Supplies Market Leaders
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Cardinal Health
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3M
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Baxter International
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Medtronic PLC
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B. Braun SE
*Disclaimer: Major Players sorted in no particular order
India Hospital Supplies Market News
- February 2022- Carestream Health India launched the DRX Compass, a precise, simple, and adaptable digital radiology system designed to give radiologists a new level of efficiency.
- January 2022- Intuitive India, the India arm of Intuitive, a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery (RAS), launched India's first remote surgical case observation technology, 'Intuitive Telepresence' (ITP).
India Hospital Supplies Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Chronic Diseases
4.2.2 High Demand for Hospital Supplies in India
4.3 Market Restraints
4.3.1 Emergence of Home Care Services
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value in USD million)
5.1 By Product Type
5.1.1 Patient Examination Devices
5.1.2 Operating Room Equipment
5.1.3 Mobility Aids and Transportation Equipment
5.1.4 Sterilization and Disinfectant Equipment
5.1.5 Disposable Hospital Supplies
5.1.6 Syringes and Needles
5.1.7 Other Product Types
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 3M
6.1.2 B. Braun SE
6.1.3 Baxter
6.1.4 Becton Dickinson and Company
6.1.5 Boston Scientific Corporation
6.1.6 Cardinal Health
6.1.7 Medtronic PLC
6.1.8 General Electric Company (GE Healthcare)
6.1.9 Johnson & Johnson
6.1.10 Thermo Fisher Scientific
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
India Hospital Supplies Industry Segmentation
Hospital supplies include every medical utility product that serves both the patient and medical professional with hospital infrastructure and enhances the network and transportation between hospitals. These include hospital equipment, patient aid, mobility equipment, and sterilization disposable hospital supplies.
The India Hospital Supplies Market is Segmented by Product Type (Patient Examination Devices, Operating Room Equipment, Mobility Aids and Transportation Equipment, Sterilization and Disinfectant Equipment, Disposable Hospital Supplies, Syringes and Needles, and Other Types). The report offers value (in USD million) for the above segments.
| By Product Type | |
| Patient Examination Devices | |
| Operating Room Equipment | |
| Mobility Aids and Transportation Equipment | |
| Sterilization and Disinfectant Equipment | |
| Disposable Hospital Supplies | |
| Syringes and Needles | |
| Other Product Types |
India Hospital Supplies Market Research FAQs
How big is the India Hospital Supplies Market?
The India Hospital Supplies Market size is expected to reach USD 1.14 billion in 2024 and grow at a CAGR of 7.66% to reach USD 1.65 billion by 2029.
What is the current India Hospital Supplies Market size?
In 2024, the India Hospital Supplies Market size is expected to reach USD 1.14 billion.
Who are the key players in India Hospital Supplies Market?
Cardinal Health, 3M, Baxter International, Medtronic PLC and B. Braun SE are the major companies operating in the India Hospital Supplies Market.
What years does this India Hospital Supplies Market cover, and what was the market size in 2023?
In 2023, the India Hospital Supplies Market size was estimated at USD 1.05 billion. The report covers the India Hospital Supplies Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Hospital Supplies Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Medical Supplies Industry Report
The India Hospital Supplies Market report provides a comprehensive market analysis of various product types, including patient examination devices, operating room equipment, mobility aids and transportation equipment, sterilization and disinfectant equipment, disposable hospital supplies, syringes and needles, and other types. This market research report offers valuable insights into the market size, market share, and market growth of the hospital supplies industry in India.
The market forecast indicates a positive growth rate, reflecting the increasing demand for hospital supplies. The market trends and market outlook suggest that the industry will continue to expand, driven by advancements in medical technology and the growing healthcare needs of the population. The industry analysis highlights the key market leaders and their strategies to maintain a competitive edge.
This industry report also includes a detailed market review, providing an industry overview and market segmentation based on product types. The market predictions and market value are crucial for stakeholders to make informed decisions. The report example and report PDF are available for further reference, offering a comprehensive industry outlook and industry information.
The industry research covers various aspects of the market, including industry sales, industry size, industry statistics, and industry trends. The market data and market segmentation provide a clear understanding of the market dynamics. The industry reports and research companies involved in this analysis ensure the accuracy and reliability of the information presented.
Overall, this report serves as a valuable resource for understanding the India Hospital Supplies Market, offering insights into market growth, market forecast, and market overview. The detailed industry analysis and market review provide a thorough understanding of the market landscape, helping stakeholders to navigate the industry effectively.
