Market Trends of Europe Hospital Supplies Industry
This section covers the major market trends shaping the Europe Hospital Supplies Market according to our research experts:
The Operating Room Equipment Segment is Expected to Witness High Growth Over the Forecast Period
Operating rooms are designed for surgeons and surgical staff to perform surgical procedures using high-end equipment. With the growing immigration from African and other Mediterranean countries to European countries, surgical procedures have significantly increased, further demanding technological advancement in operating room equipment. For instance, National Center for Biotechnology Information, in 2021, estimated about a 47% increase in cesarean sections in Southern Europe by 2030. Therefore, several companies are looking toward developing state-of-the-art operating rooms, creating lucrative growth opportunities.
Rising initiatives from 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 Brandaburg an der Havel entered a 10-year strategic partnership to renew and expand the hospital's diagnostic and therapeutic options by delivering advanced technology solutions. According to the agreement, Philips will provide the hospital with new, upgraded hybrid operating rooms and interventional suites. Such partnerships are anticipated to increase sales of operating room equipment in Europe, driving 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 the adoption of virtual reality operating room equipment in Europe, driving this segment growth.
Thus, owing to the above factors, the operating room equipment segment is expected to show significant growth over the coming years.
Germany is Expected to Dominate the Europe Hospital Supplies Market Over the Forecast Period
The factors affecting the growth of hospital supplies in Germany include the increasing chronic diseases such as diabetes, cancer, and cardiovascular disease, the rise in the number of hospitals, technological advancements in healthcare, well-developed healthcare infrastructure, and the increase in partnerships with the World Health Organisation (WHO), among others. For instance, in January 2021, the German government partnered with the WHO to import medical supplies worth USD 3.84 million (EUR 3.65 million) to countries in the Western Balkan region. It includes 334 ventilators and 19,400 pulse oximeters and would 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. Furthermore, according to the World Bank update, in January 2023, diabetes prevalence in Germany was reported at 6.9 % in 2021. Thus, with an increase in chronic diseases such as diabetes, hospital admission increase. Therefore, there is a rise in the need for hospital supplies, eventually driving the growth of the market.
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 regularly deliver specialized infusion medications and personal protective equipment (PPE). Such advancements are further expected to drive the hospital supplies market in Europe due to the timely delivery of useful supplies.
In addition, rising strategies from the key market players are expected to drive market growth in Germany. For instance, in July 2022, Olympus launched EASY SUITE, 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 launches will lead to increased adoption of operating room equipment in German hospitals, driving market growth.
Therefore, owing to the aforementioned factors, Germany is expected to hold a significant share.
