The healthcare sector has risen rapidly in recent decades. One of the main reasons for this is the trend of population aging in developed countries. Another factor that contributes to increased sales of wholesale medical supplies is that healthcare is becoming more accessible. That’s why both private and public healthcare institutions find suppliers of bulk medical supplies in order to benefit from wholesale prices on consumables, equipment, and other necessary products. Furthermore, distributors also offer additional advantages such as wholesale CRM or inventory tracking software. These solutions help health institutions optimize their resources and orders. In this article, we’ll shed more light on the topic of wholesale medical supplies. We’ll give more details on the businesses that purchase different types of medical supplies and we’ll share what are the most essential ones.
What Businesses Buy Wholesale Medical Supplies
Personal protective equipment like masks and gloves are among the products that all businesses that work directly with customers might purchase. Hand sanitizers are another very common product that can be purchased by any business. Smaller companies are more likely to buy these products from retailers.
Hospitals
Naturally, they are the biggest clients of wholesale medical supplies distributors. They need a wide range of products. From disposable products like latex gloves to more specialized items such as x-ray accessories and equipment. Hospitals tend to stock large quantities of medical supplies in order to prepare for flu season.
Care Facilities
Nursing homes and other care institutions also purchase wholesale medical supplies. As the majority of patients at these facilities are elderly people, incontinence supplies are one of the most purchased categories. Care facilities also need mobility aids and other specialized mobility equipment.
Dental Centers
Dentists use dozens of gloves and other consumables every day. That’s why they partner with wholesale businesses that deliver medical equipment and supplies. Some wholesalers also have specialized catalogs for the dentistry sector. It contains items such as dental instruments and restorative materials.
Medical Labs
Wholesale ordering of medical supplies is common for laboratories as well. They purchase reagents, specimen containers, and other consumables that are used for the day-to-day activities in medical labs.
Veterinary Clinics
In order to take proper care of our beloved pets, vets need medical supplies as well. Syringes, needles, and gloves are among the best-selling wholesale medical supplies to veterinary clinics.
Pharmacies
They buy wholesale products and sell them to customers at retail prices. A wide variety of medical supplies are offered by pharmacies. In recent years, pharmacies have embraced the revolution of online orders and they sell medical supplies eCommerce as well.
Key takeaway: The demand for medical supplies constantly increases every year. That’s because of the aging population in developed countries and more accessible medical care in developing countries. Hospitals and the main businesses that buy wholesale medical supplies. Other companies that purchase these products in bulk include veterinary clinics, dental centers, and nursing homes.
Most Essential Wholesale Medical Supplies
Even though the medical supplies industry is often associated with consumables, there are numerous other subcategories. Allow us to shed some light on the major ones.
- Personal equipment. These are products used not only by medical personnel but by other people as well. The most used ones are face masks and gloves.
- Wound care. Bandages and sterile dressings need to be changed regularly for wounds to heal. That’s why they are among the most essential medical supplies.
- Infusion supplies. Needles and syringes are the main products in this subcategory of wholesale medical supplies. Some distributors also offer IV fluids.
- Respiratory accessories. The increased number of ICU beds has led to an increased demand for respiratory equipment such as oxygen masks and ventilators.
- Wholesale paper goods. This subcategory consists of products such as patient wipes and hygiene rolls. Of course, hospitals and other healthcare institutions also need large quantities of toilet paper and paper towels.
- Equipment and instruments. This category can be broken down into multiple others. For example, thermometers and stethoscopes are considered diagnostic equipment. Scalpels and surgical retractors are surgical instruments.
- Medical devices. ECG machines, defibrillators, and other devices are also offered by some distributors of wholesale medical supplies.
- Durable medical equipment (DME). Wheelchairs and hospital beds are good examples of this category. Durable equipment also includes things like canes and crutches.
Even though the ones above are the most common medical supplies, there are many additional categories and subcategories.
The Wholesale Medical Supplies Market
According to market research, the size of the global medical supplies market is between 130 and 150 billion dollars. Unsurprisingly, hospitals are the main contributors to that number as they make up more than half of all purchases of wholesale medical supplies. The industry has been growing substantially for decades. A major reason for that is the growing demand for medical services in Asia and developing countries. Another factor that contributes to the growth of the wholesale medical supplies market is the aging population. Almost all developed countries are experiencing a demographic crisis. That means that in the next few decades, the average age of their citizens will increase. This will lead to increased demand for medical services and supplies.
Frequently Asked Questions about Wholesale Medical Supplies
As the medical supplies industry is expected to grow in the future, entrepreneurs can benefit in various ways from this expanding market. If you’re interested in this sector, perhaps the answers to some of the commonly asked questions will help you on your business journey.
Can Medical Supplies Be Dropshipped?
Yes, you can dropship medical supplies. In fact, that has been a successful business model in recent years as sales of protective equipment and sanitizers have risen dramatically. Business owners of dropshipping websites in other industries have also benefited from the rise in demand for such products. That’s why they’ve included categories such as personal protective equipment, wholesale janitorial supplies, or wholesale sanitizers on their websites. One of the main benefits of dropshipping businesses is that they can easily add additional products to their eCommerce websites. Therefore, it would be a profitable dropshipping idea to start a website that can add a variety of products like wholesale medical equipment or other high-demand products. If you’re interested in the subject, check out our article on how to start a dropshipping business.
What Is the Future of the Wholesale Medical Supplies Industry?
As the global population is aging, the demand for pharmaceuticals and medical equipment is expected to increase. That’s why businesses in the field of wholesale medical supplies need to boost their productive capacity in order to answer the increased demand. One of the trends in the sector is the increase in B2C sales. D2C sales have expanded with the COVID-19 pandemic.
As medical supplies summarize a wide array of products, there are numerous innovations emerging every year. Most recently, the majority of modernizations have been driven by technological advancements. New and improved medical devices push the boundaries of medicine constantly. That’s why businesses need to find suppliers that are aligned with the latest trends and can offer top-notch products.
How to Store Medical Supplies?
Storing medical supplies at home is fairly easy. They need to be stored in a cold and dry place that’s not easily accessible by children. It’s recommended to categorize the products based on their types. Also, make sure you regularly check expiration dates. Businesses in the healthcare industry store medical supplies in different supply rooms around the institution. That way, they can be easily accessed by personnel.
Just like other businesses, healthcare institutions need to benefit from inventory tracking systems and do inventory forecasting analysis. That way, they can be prepared for flu seasons and other periods of high demand for medical supplies and protective equipment.