Hospital Consumables Market registering a CAGR of 10.89% over the forecast period
Hospital Consumables Industry Overview The global hospital consumables market size was valued at USD 308.6 billion in 2020 and is anticipated to grow at a compound annual growth rate (CAGR) of 10.89% from 2021 to 2028. The rising number of surgeries, increasing prevalence of chronic diseases, and growing elderly population are the key factors driving the market growth. Moreover, technological advancements in surgical procedures and rising preference for minimally/non-invasive surgeries are further contributing to market growth. Furthermore, the impact of COVID-19 across the globe is accelerating market growth. Chronic diseases, including Cardiovascular Diseases (CVDs), chronic respiratory diseases, diabetes, cancer, and mental illnesses, have become a leading cause of mortality and disability worldwide. For instance, as projected by the American Heart Association, more than 130 million adults or 45.1% of the U.S. population might suffer from some form of CVD b...