Industry Analysis & Industry Trends
The Online Medical Supplies Sales industry has performed strongly over the past five years, driven by the overall growth in online retailing and robust demand conditions in downstream markets. Flailing business and consumer confidence had minimal impact on the industry's fortunes, as demand for medical supplies is highly inelastic given its essential nature. To staff and equip clinics, medical practitioners and institutions rely on federal and state government funding, which has increased strongly over the past five years. The ease of purchasing medical consumables, such as catheters, applicators, drug-testing kits, protective apparel and disposable instruments, online has resulted in strong revenue growth over the past five years... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Online Medical Supplies Sales industry is in the growth phase of its life cycle, characterised by strong revenue growth, participation and a high rate of technological change. In the 10 years leading through 2017-18, industry value added is estimated to increase by an annualised 9.3%, while real GDP growth is forecast to grow by 2.4% per annum. Similar to the rest of online retailing, sales of medical supplies have grown dramatically as consumers have migrated online in droves, seeking increased choice and lower prices.
Consumables and general supplies, which account for nearly 70% of industry revenue, lend themselves well to online purchasing, as they tend to be standardised products with a high degree of familiarity to target markets... purchase to read more