Delray Beach, Fla. – September 11, 2026 -- The global medical supplies market is projected to grow from $194.76 billion in 2026 to $248.03 billion by 2031, a compound annual growth rate of 7.39%, according to new research from MarketsandMarkets.
Asia Pacific outpaces global growth rate as diagnostic demand accelerates
Asia Pacific is set to register the fastest regional CAGR at 10.2% through 2031, outstripping the global average as healthcare infrastructure expands across the region. By product type, infusion and injectable supplies will grow fastest at a 9.0% CAGR, while diagnostic supplies held the largest share in 2025 and are expected to post the quickest growth of any category over the forecast period, driven by rising chronic and infectious disease burdens and expanding preventive screening programs.
Hospitals retain dominant purchasing position amid rising admissions
Hospitals remain the largest end-user segment, consuming the broadest range of products including diagnostic materials, wound care items, infusion supplies, catheters, surgical disposables, and sterilization consumables. Growth in hospital admissions, expanding critical care capacity, and continued infrastructure investment in emerging markets are reinforcing this segment's lead.
North America holds 40.75% share on strong infrastructure and manufacturer presence
North America accounted for 40.75% of the market in 2025, supported by high healthcare spending, dense hospital networks, and the concentration of leading medical supply manufacturers in the region. Strict infection-control standards and high surgical procedure volumes continue to drive regional demand, positioning North America to retain its lead through 2031.
Cardinal Health leads $1.1 billion diabetes supply acquisition amid sector consolidation
Deal activity in the first half of 2025 concentrated on recurring-revenue, home-care-adjacent businesses. Cardinal Health acquired Advanced Diabetes Supply Group for $1.1 billion, while Henry Schein acquired Acentus, Staple Street Capital acquired Avante Health Solutions, and Sumitomo Corporation acquired ActivStyle. Investment activity is shifting toward scalable, technology-enabled businesses in diabetes care, surgical products, and home medical equipment rather than commoditized supply lines.
The market remains fragmented, with the top five vendors holding a combined 15.72% share, leaving room for further consolidation. Major manufacturers cited in the report include Medtronic, Cardinal Health, Becton Dickinson, Johnson & Johnson, B. Braun Melsungen, Boston Scientific, Thermo Fisher Scientific, Baxter, 3M, Stryker, Terumo, Fresenius Medical Care, and Coloplast, among others.