Ramping Up: The Global Drive to Expand Medical Consumables Capacity

Researched by Industrial Info Resources (Sugar Land, Texas)--As health care systems around the globe expand to meet growing patient demand, the need for fundamental medical consumables, such as syringes, cannulae and needles, is also rising. The COVID-19 pandemic severely highlighted global medical supply chain vulnerabilities that resulted in acute shortages of vital products including personal protective equipment (PPE) and diagnostic kits. The global medical consumables market is further propelled by rising demand for injectable biologics, mRNA vaccines, chronic disease treatments and infection prevention solutions. As a result, manufacturers are increasing production capacity through new facility constructions and upgrades.

Currently, Industrial Info is tracking 58 projects with spending worth US$2.54 billion geared at medical consumables including cannulae, syringes and needles. The majority of the investment is geared at grassroot projects accounting for around approximately 60% of the total investment. Around 39% of the investment is geared at plant expansion projects and the remaining are geared at equipment addition projects.

Asia dominates the current investment landscape, accounting for more than 75% of the total global spending. Within Asia, China dominates, accounting for more than 90% of the region's investment with a total of US$1.24 billion.

Europe follows with a total of US$588 million, with Italy and Germany emerging as key contributors. Italy leads the European region with US$247 million, while Germany follows with US$152 million. Meanwhile, North America has recorded US$491 million in active projects, largely driven by the United States, which has US$386 million worth of investments.

For one of its projects, the Carl Zeiss Foundation (Stuttgart, Germany) is investing US$371 million to establish a grassroot manufacturing facility for pre-fillable polymer and glass syringes in Wilson, North Carolina. The project, to be developed in multiple phases, will involve the construction of an approximately five-building campus (final size to be determined), which will house manufacturing units and a warehouse intended for use in producing mRNA vaccines and other biologic therapies. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report.

With rising global life expectancy projected to be 73.49 years this year, the demand for medical consumables is expected to rise significantly. Increased longevity amplifies the incidence of medical conditions that require ongoing care and intervention. As a result, the healthcare industry is committed to meeting this demand while ensuring that vital medical products remain foundational to global health and longevity.

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).