GLOBAL HEALTHCARE CONSUMABLES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Increasing product recalls by regulatory authorities can hamper the market growth over the forecast period. For instance, in March 2022, BlaineLabs, a drugs and medical device manufacturing company, announced that it had recalled a single lot of RevitaDerm Wound Care Gel 1% (benzalkonium chloride gel containing transforming growth factor beta), after a 1-ounce bottle was discovered to be contaminated with Bacillus cereus.

Market Opportunity – Increased Adoption of Telehealth and Remote Patient Monitoring

Increased adoption of telehealth and remote patient monitoring offer opportunities for the global healthcare consumables market growth. Telehealth allows patients to connect with healthcare providers virtually through video calls, mobile apps, and web-based platforms. This enables remote monitoring of vital signs and simplified delivery of care without the need for in-person visits. In November 2020, according to the report by World Health Organization, more than 50% of Americans participated in telehealth for the first time during the pandemic, thus, showing long term potential for this model of care delivery.