Without proper supplies, any venture will fail. This is especially true in the medical industry, where supplies are vital to good healthcare. While there is a shortage of doctors and nurses, there is no shortage of sick people in our aging population so the demand for supplies is ongoing and everlasting.
Globally,the medical equipment and supplies industry has annual revenues of $273 billion and is expected to grow to $349 billion in 2016. Included is a vast array of products: catheters, monitoring systems, pumps, wound care, specialty bags, etc. Some key markets include surgical supplies at 45% of the market, with catheters ($32 billion) as a significant subset as well as patient monitoring systems ($9.3 billion) and wound care supplies.
The medical supply industry is expected to increase as the percentage of the elderly portion of the US grows by 146% from now to 2050. Technological innovation is also expected to impact the industry positively, as well as an increase in medical tourism and advertising of products directly to potential customers.
As medical supply companies grow, they need better cash flow to manage their resources. Factoring is a way to keep staff and bills paid so the company can focus on making excellent and innovative products to save lives.
For the full article, see Medical Equipment and Supply Industry: Market Research Reports, Statistics and Analysis