Europe Hospital Supplies Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe Hospital Supplies Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Europe hospital supplies market is expected to register a CAGR of 12.7% during the forecast period (2022-2027).

COVID-19 has significantly impacted the market growth due to the import of hospital equipment and supplies in various European Nations. For instance, in February 2022, European Union (EU) funded additional 180 oxygen concentrators, 2000 pulse oximeters, and other medical supplies have been given to outpatient facilities in Georgian villages. The supplies were acquired as part of a significant EU-United Nations initiative to support rural healthcare facilities and lessen the effects of the COVID-19 outbreak in the nation. In order to increase access to healthcare, the program will eventually equip village ambulatory units with telemedicine technology. Such initiatives and funding by the European Union will lead to increased adoption of hospital supplies in European nations, driving the market growth during the pandemic.

The propelling factors for the growth of the market include the high demand, owing to increasing chronic diseases, the rising geriatric population, and the increase in investments in healthcare infrastructure, among others.

According to the Organisation for Economic Co-operation and Development, August 2022, the estimated percapita healthcare expenditure in the European countries such as Austria, Germany, Ireland, Poland in 2021 were EUR 5,488.2, EUR 5,498.5, EUR 5,665, EUR 4,568,8. Therefore, the high percapita expenditure on healthcare in the European countries will lead to increased adoption of healthcare in the European hospitals, thereby lead to adoption of hospital supplies, driving the market growth.

The elderly population is expected to grow in the coming years in both countries, and this population is more prone to chronic diseases. For instance, according to the United Nations department of economics and social affairs report 2022, about 19% of the population in Europe was 65 years of age or older, making it the region with the highest percentage of older people in 2022. According to projections, one in every four people in Europe could be 65 or older by 2050. In addition, the fact that the geriatric population is more susceptible to acute and chronic diseases indicates that the increased geriatric population is also highly responsible for high hospital admission rates, thus pushing the demand in this market.

Europe has a strong healthcare system, in terms of the infrastructure, hospital beds, hospital supplies, and equipment, etc., that has helped the overall market to account among the highest market share. Furthermore, rise in government project to fulfill the demand for hospital supplies is also expected to drive the market growth. For instance, in January 2021, the European Union has launched impure project for the rapid production of medical suppliers. The strategic goal of imPURE is to repurpose non-medical plastic processing industrial lines in Europe, for the rapid production and broad distribution of Critical Medical Supplies (CRMs) to meet urgent needs of the societies for vital medical supplies and equipment. Therefore, the well-established infrastructure of the hospitals helps in the growth of the European hospital supplies market.

On the other side, the preference of home care is also rising as the home is a place of emotional and physical associations, memories, and comfort and it also keeps families together, which is particularly important during long-term illnesses. Therefore, the rising usage of home care consequently restrains the hospital admission rates and further impedes the growth of the studied market.

Key Market TrendsThe Operating Room Equipment Segment is Expected to Create Lucrative Growth Opportunities

With the growing immigration from African countries and other Mediterranean countries to European countries, surgical procedures have significantly increased, further demanding technological advancement in operating room equipment. Therefore, several companies are looking toward the development of state-of-the-art operating rooms, which are creating lucrative growth opportunities.

Rising initiatives from the key market players such as partnerships are expected to rise in the adoption of operating room equipment, driving this segment's growth. For instance, in January 2022, Philips and the University Hospital Brandenburg an der Havel entered a 10-year strategic partnership to renew and expand the hospital’s diagnostic and therapeutic options through the delivery of advanced technology solutions. According to the agreement, Philips will deliver new and upgraded hybrid operating rooms and interventional suites to the hospital. Such partnerships are anticipated to increase sales of operating room equipment in Europe, driving this segment growth.

Furthermore, in April 2022, Alcon introduced virtual reality surgical training for the surgeons practicing in operating rooms on Alcon Fidelis Virtual Reality (VR) Ophthalmic Surgical Simulator. This is expected to increase in adoption of virtual reality operating room equipment in Europe, driving this segment growth.

Moreover, as the elderly population is expected to grow in the near future, it is likely to have a positive impact on the market. Additionally, there is an increasing number of super-specialty hospitals that help in the overall growth of the market.

Germany is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

The factors affecting the growth of hospital supplies in Germany include the rise in the number of hospitals, technological advancements in healthcare, well-developed healthcare infrastructure, and the rise in partnerships with the World Health Organisation (WHO), among others.

For instance, in January 2021, the German Government partnered with the WHO has partnered to import medical supplies worth EUR 3.65 million to countries in the Western Balkan region. It includes 334 ventilators and 19 400 pulse oximeters and will equip health facilities to monitor and improve the health outcomes of COVID-19 patients, particularly in intensive care units. Such an initiative might have been expected to drive market growth due to the rise in the adoption of medical supplies in the country.

Rising technological initiatives in the healthcare sector in Germany are also expected to drive market growth. Together with Matternet and UPS (United Parcel Service), hospitals in Germany will be able to deliver medical laboratory supplies by drone. The drones will fly two routes and deliver specialised infusion medications and personal protective equipment (PPE) on a regular basis. Such advancements are further expected to drive the hospital supplies market in Europe due to the timely delivery of useful hospital supplies.

In addition, rising strategies from the key market players is expected to drive the market growth in Germany. For instance, in July 2022, Olympus launched EASYSUITE, its next generation operating room (OR) integration solution in Germany and other European regions. EASYSUITE incorporates video management and routing, procedure recording, medical content management and virtual collaboration. Such lauches will lead to increased adoption of operating room equipment in German hospitals, driving the market growth.

Therefore, owing to the aforementioned factors, Germany is expected to hold a significant share.

Competitive Landscape

The European hospital supplies market is fragmented competitive. There are several key players involved in mergers and acquisitions and their geographical expansions are among the latest trends observed in the European hospital equipment and supplies market. Some of the companies currently dominating the market are Medtronic PLC, Baxter International Inc., Cardinal Health Inc., Becton, Dickinson and Company, Boston Scientific Group, Johnson & Johnson (Ethicon), 3M Company, B. Braun Melsungen AG, and Thermo Fisher Scientific Inc.

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