Procedure Trays Market to Reach US$ 8,768.9 Mn at CAGR of 10.8% in 2027 | The Insight Partners

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Procedure Trays Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type (Angiography, Ophthalmology, Operating Room, and Anesthesia Room); and By End-User (Hospitals, Clinics, and Ambulatory Surgical Centers) and Geography

Publication Month: May 2020 | Report Code: TIPHE100001227 | No. of Pages: 141 | Category: Medical Device | Status: Published

The procedure trays market accounted to US$ 8,768.9 Mn in 2018 and is expected to grow at a CAGR of 10.8% during the forecast period 2019 - 2027, to account to US$ 21,725.7 Mn by 2027

Asia Pacific is the fastest growing geographic market, and it is expected to be the second largest revenue contributor throughout the forecast period. The growth is contributed majorly by driving factors such as significant rise in the prevalence of chronic diseases across the countries, rise in the government support for the patient population, growing medical tourism and increasing implementation of programs for hospitals acquired infections.

Procedure Trays Lucrative Regional Markets

Procedure Trays Lucrative Regional Markets

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Market Insights

Benefits offered by Customize Procedure Trays

In recent years, there have been considerable developments in the field of procedure trays. The growing of surgical procedures has increased the demand for surgical instruments. Procedure trays offer benefits such as performing surgical procedures like hip, hand, and pacemaker surgeries with ease and accuracy. An enormous amount of time can be saved, during the surgical procedure and in the preparations for an operation. Gaining time means that it is possible to work more efficiently and thus to optimize the planning of operations. Operation theatre logistics are simplified. There is a reduction in the number of activities required to get the right products to the right place on time. The fact that custom procedure trays are supplied just in time means that the hospital can simplify its logistics and control its costs. Optimizing procedure trays creates numerous benefits for both surgery centers and their patients by reducing the variation that causes waste and inefficiency, while also improving clinician workflow and patient throughput.

Increase in the Number of Surgical Procedures

The rise of the surgical procedures has also increased the use of procedure trays to perform the surgery. Factors such as rising work pressure, stress, improper eating habits, heredity, and exposure to chemicals, among others, cause chronic diseases. Surgeons on a large scale have opted procedure trays in the past few years. Procedure trays have been used for several surgeries like laparoscopic surgeries, orthopedic surgeries, cardiovascular surgeries, ophthalmology surgeries, cosmetic surgeries and others. For instance, According to the American Society of Plastic Surgeons (ASPS) annual plastic surgery statistics report, there were more than 17.7 million surgical and minimally-invasive cosmetic procedures performed in the United States in 2018, a number that has risen steadily over the past five years. Procedure trays are also used for hip and knee replacement procedures, according to the American Joint Replacement Registry (AJRR) 2017 Annual Report on hip and knee arthroplasty, approximately 860,080 hip and knee replacement procedures from 4,755 surgeons were performed at 654 institutions.  The manufacturers provide customized procedure trays according to the surgeon’s need, which ensures high performance and reduces overall surgical procedures expenses. Thus growing surgical procedures and rise in the awareness are expected to boost the procedure trays market in the coming years.

Product Insights

The global Procedure trays market by product segments was led by operating room segment. In 2018, the operating room held a largest market share of 50.7% of the procedure trays market, by product type. The operating room segment is expected to dominate its market share in 2027 owing to the rising prevalence of the diseases and increasing number of surgeries. Also, the operating room segment is anticipated to witness the fastest growth rate of 7.3% during the forecast period, 2019 to 2027.

Global Procedure trays Market, by Operating Room

Global Procedure trays Market, by Operating Room

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Strategic Insights

Report Coverage - Procedure Trays Market
Report CoverageDetails
Market Size Value inUS$ 8,768.9 Million in 2018
Market Size Value byUS$ 21,725.7 Million by 2027
Growth rateCAGR of 10.8% from 2019-2027
Forecast Period2019-2027
Base Year2019
No. of Pages141
No. of Tables49
No. of Charts & Figures61
Historical data availableYes
Segments coveredProduct Type ; and By End-User and Geography
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Acquisitions and expansions were observed as the most adopted strategy in global Procedure trays industry. For instance, in June 2018, Medline Industries, Inc. acquired Dufort et Lavigne Ltée, a Montreal-based medical supplies distributor in order to extend its presence in Canada. The developments performed by the companies are helping the market to grow in the coming years.

PROCEDURE TRAYS - MARKET SEGMENTATION

Global Procedure trays market - By Product Type

  • Angiography
  • Ophthalmology
  • Operating Room
  • Anesthesia Room

Global Procedure trays market - By End User

  • Hospitals
  • Ambulatory Surgical Centres
  • Clinics

Global Procedure trays Market - By Geography

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • U.K.
    • Germany
    • France
    • Italy
    • Spain
  • Asia Pacific (APAC)

    • Japan
    • China
    • India
    • South Korea
    • Australia
  • Middle East & Africa (MEA)

    • South Africa
    • UAE
    • Saudi Arabia
  • South & Central America (SCAM)

    • Brazil
    • Argentina

Company Profiles

  • Biometrix
  • Medica Europe BV
  • 3M
  • BD
  • Owens & Minor, Inc.
  • Medline Industries, Inc
  • Mölnlycke Health Care AB
  • Nelipak Corporation
  • Teleflex Incorporated
  • Cardinal Health, Inc.

The List of Companies - Procedure Trays Market

  1. Biometrix,
  2. Medica Europe BV
  3. 3M
  4. BD
  5. Owens & Minor, Inc.
  6. Medline Industries, Inc
  7. Mölnlycke Health Care AB
  8. Nelipak Corporation
  9. Teleflex Incorporated
  10. Cardinal Health, Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the procedure trays market.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global procedure trays market, thereby allowing players across the value chain to develop effective long-term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution.
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