Canada Hospital Supplies Market Insights Forecasts to 2033

• The Market is growing at a CAGR of 6.3% from 2023 to 2033
• The Canada Hospital Supplies Market Size is expected to hold a significant share by 2033

The Canada Hospital Supplies Market is anticipated to hold a significant share by 2033, growing at a CAGR of 6.3% from 2023 to 2033. The increasing geriatric population & in-patient admissions in hospitals and technological advancements in hospital supplies are driving the growth of the hospital supplies market in Canada.     

Market Overview

Hospital supplies are the medical devices or equipment and instruments that are used for medical purposes. They are essentially used for the proper functioning of hospitals, constituting various devices, instruments, and medical supplies. They are customized for various events and medical strategies. For instance, intravenous fluids, sophisticated cardiac life support devices and drugs, and sophisticated trauma life support devices would be necessary if more invasive procedures are to be provided. An ice-water bath in a tiny plastic pool, for example, regarded as one of the most straightforward and efficient cooling methods in case of heat-related injuries. The increasing awareness about health & hygiene practices especially in hospitals is anticipated to provide lucrative market growth opportunities for hospital supplies. Further, the growing R&D activities for the development of hygienic solutions in the hospital supplies industry with the increasing concerns about infection and other viral diseases are anticipated to drive the market opportunities.

Report Coverage

This research report categorizes the market for the Canada hospital supplies market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Canada hospital supplies market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Canada hospital supplies market.

Driving Factors

Rapid population aging in Canada has many effects, one of which is a rise in the demand for health care services. The increased demand for specialized health care services including surgeries, non-emergency diagnostics, and consultations with medical specialists with the increasing geriatric population are significantly contributing to drive the market. As per the findings by CIHI, the number of acute inpatient hospitalizations in Canada increased from 2.88 million visits in 2021–2022 to 2.96 million in 2022–2023. The increasing in-patient admissions in hospitals is also responsible for propelling the market. In addition, the introduction of digitalization in the healthcare supply chain for an efficient healthcare system and robust medical supply delivery is driving the market growth.

Restraining Factors

The increasing home care services are responsible for restraining the Canada hospital supplies market. Further, the lack of insurance coverage for hospital supplies are contributing to restrain the market growth.

Market Segmentation

The Canada Hospital Supplies Market share is classified into type of product.

• The sterilization & disinfectant equipment segment dominates the market with the largest market share during the forecast period.

The Canada hospital supplies market is segmented by type of product into patient examination devices, operating room equipment, mobility aids & transportation equipment, sterilization & disinfectant equipment, disposable hospital supplies, syringes & needles, and others. Among these, the sterilization & disinfectant equipment segment dominates the market with the largest market share during the forecast period. There is the growing prevalence of hospital-acquired infections, number of surgical procedures, and outsourcing of sterilization services. The increasing hospital spending for maintaining cleanliness and hygiene in hospital centers in order to prevent infections is driving the market in the sterilization & disinfectant equipment.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Canada hospital supplies market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• McKesson Corporation
• 3M
• Henry Schein, Inc.
• Baxter
• Becton, Dickinson And Company
• Boston Scientific Corporation
• Cardinal Health
• GE Healthcare
• Johnson & Johnson
• Medtronic (Covidien)
• Smith+Nephew
• Stryker
• Thermo Fisher Scientific
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2022, Voran Group Ventures Ltd announced the receipt of market authorization from Health Canada on new efficacy claims for its made-in-Canada disinfectant solution, Bacoban (106) Cleaner & Disinfectant.

Market Segment

This study forecasts revenue at Canada, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Canada Hospital Supplies Market based on the below-mentioned segments:

Canada Hospital Supplies Market, By Type of Product

• Patient Examination Devices
• Operating Room Equipment
• Mobility Aids & Transportation Equipment
• Sterilization & Disinfectant Equipment
• Disposable Hospital Supplies
• Syringes & Needles
• Others