Procedure Trays Market Overview and Forecast by 2030
The procedure trays market was valued at US$ 21,536.67 million in 2022 and is expected to reach US$ 45,926.87 million by 2030. It is estimated to register a CAGR of 9.9% during 2022–2030. With the growing need for cost-effective products by hospitals and surgical centers, customized procedure trays are likely to remain a key trend in the market.
Procedure Trays Market Analysis
The increasing number of surgeries and surge in medical tourism are the key driving factors behind the market development. Furthermore, the integration of procedure trays with cloud platforms and data analytics has created growth opportunities for the market over the upcoming forecast period.
Procedure Trays Market Overview
The prevalence of health conditions such as cardiovascular diseases, obstructed labor, injuries, and malignancies trigger the need for surgical procedures. According to research by the World Health Organization (WHO), the number of cesarean sections continues to increase worldwide, accounting for more than one in five (21%) births. This number is expected to rise over the coming decade, with almost a third (29%) of all births likely to be by cesarean section by 2030. Advances in surgical, anesthetic, and critical care techniques have resulted in more of the growing elderly population undergoing surgical procedures. According to the US Census Board, about 13% of the total population in the US is over 65 years old, and it is estimated that this percentage will reach 20% by 2030. According to WHO, the world geriatric population is expected to reach 1.5 billion by 2050.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Procedure Trays Market: Strategic Insights
Procedure Trays Market
-
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2022 - 2030)
9.9%
-
Market Size 2022
US$ 21,536.67 Million
-
Market Size 2030
US$ 45,926.87 Million
Market Dynamics
GROWTH DRIVERS
- Increasing volume of surgeries worldwide is propelling the demand for procedure trays
FUTURE TRENDS
- Integration to technologies in healthcare facilities for seamless surgeries is augmenting the demand for advanced procedure trays
OPPORTUNITIES
- Surge in medical tourism in emerging economies is driving the market growth.
Key Players
- Biometrix
- Medica Europe BV
- BD
- 3M
- Owens & Minor Inc
- Molnlycke Health Care AB
- Nelipak Corporation
- Cardinal Health Inc
- Teleflex Inc
- ICU Medical Inc.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Application
- Operating Room
- Angiography
- Ophthalmology
- Others
Purchase Mode
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Procedure Trays Market: Strategic Insights
-
CAGR (2022 - 2030)9.9% -
Market Size 2022
US$ 21,536.67 Million -
Market Size 2030
US$ 45,926.87 Million
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
- Increasing volume of surgeries worldwide is propelling the demand for procedure trays
- Integration to technologies in healthcare facilities for seamless surgeries is augmenting the demand for advanced procedure trays
- Surge in medical tourism in emerging economies is driving the market growth.
Key Players
- Biometrix
- Medica Europe BV
- BD
- 3M
- Owens & Minor Inc
- Molnlycke Health Care AB
- Nelipak Corporation
- Cardinal Health Inc
- Teleflex Inc
- ICU Medical Inc.
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_danger.png)
- Operating Room
- Angiography
- Ophthalmology
- Others
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_warning.png)
- Hospitals & Clinics
- Ambulatory Surgical Centers
- Others
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Procedure Trays Market Drivers and Opportunities
Surge in Medical Tourism
Many countries are becoming popular destinations for health seekers. According to the Medical Tourism Association (MTA), ~14 million people travel to other countries for medical care yearly. Advancements in medical devices and non-invasive surgical procedures are the major factors responsible for increased medical tourism. According to the Centers for Disease Control and Prevention (CDC), millions of Americans travel abroad yearly for medical care. Medical tourism destinations for US citizens include Argentina, Brazil, Canada, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, Germany, India, Malaysia, Mexico, Nicaragua, Peru, Singapore, and Thailand. The treatment categories pursued by US medical tourists include cancer treatment, dental care, fertility treatments, organ and tissue transplants, and various forms of surgery, including bariatric, cosmetic, and non-cosmetic (e.g., orthopedic) surgery. Further, cheaper treatments available for various medical conditions, such as knee replacements, dentistry, and cosmetics, in countries including Singapore, Thailand, and Dubai increase the potential of medical travel market value in these countries. According to the ASEAN Briefing, Singapore attracts 500,000 medical tourists annually, accounting for nearly 4% of total tourism revenue (US$ 1 billion), and 60% of those tourists come from Indonesia.
Integration of Procedure Trays with Cloud Platform and Data Analytics
With rapid developments in the healthcare IT sector, companies manufacturing procedure trays focus on harnessing advanced technologies to enhance the experience of using procedure trays. Procedure trays carry various instruments used in surgical procedures; however, a few instruments may not be used during the procedure. Each procedure tray can typically cost more than US$ 350,000, and having every type of set on the shelf at each surgical facility is not feasible. Hence, manufacturers generally loan them to hospitals. Once a procedure is executed, the hospital returns the instrument tray to the manufacturer for storage and redistribution to other hospitals. Each time a hospital returns a tray, the manufacturer must check for missing instruments and ensure they are correctly placed, cleaned, and fit for use in the following procedure. As this checking may become hectic for manufacturers, they are focused on using data analytics tools and cloud-based platforms to maintain the record of the instruments used during surgery. For instance, BD and Johnson & Johnson MedTech are collaborating with cloud-based companies to engineer a scalable solution to improve the tracking and checking of instruments in procedure trays. Thus, using cloud-based platforms and data analytics to maintain and streamline the data collected when procedure trays are in use creates opportunities for the market players.
Procedure Trays Market Report Segmentation Analysis
Key segments that contributed to the derivation of the procedure trays market analysis are product and end user.
- Based on application, the procedure trays market is segmented operating room, angiography, ophthalmology, and others. The operating room segment held a largest market share in 2022.
- Based on purchase mode, the procedure trays market is segmented by hospitals & clinics, ambulatory surgical centers, and others. The hospitals & clinics segment held a largest market share in 2022.
Procedure Trays Market Share Analysis by Geography
The geographic scope of the procedure trays market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
The presence of prominent market participants in the region is expected to help the region's growth. Moreover, an increasing aging population and the prevalence of chronic diseases, such as osteoporosis and heart-related problems, in the region, coupled with high awareness about healthcare and advanced surgical procedures, are likely to increase the demand for surgical procedures in North America. According to an article published by the International Osteoporosis Foundation, 44 million people in America above 50 will have osteoporosis by 2020. Regenexx says more than 7 million orthopedic surgeries were performed in 2021 in the US. According to the National Center for Health Statistics, more than 40 million surgeries are performed yearly, which is expected to grow exponentially. Furthermore, according to the American Psychological Association, the geriatric population in the country is currently at 46 million. It is supposed to double itself by 2060, which will increase the number of surgeries, coupled with technological advancements, and drive the procedure trays market growth.
Procedure Trays Market Report Scope
Report Attribute | Details |
---|---|
Market size in 2022 | US$ 21,536.67 Million |
Market Size by 2030 | US$ 45,926.87 Million |
Global CAGR (2022 - 2030) | 9.9% |
Historical Data | 2020-2021 |
Forecast period | 2022-2030 |
Segments Covered |
By Application
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Procedure Trays Market News and Recent Developments
The Procedure Trays Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the procedure trays market are listed below:
- HealthpointCapital acquired of a majority stake in SteriCUBE Holdings, Inc. (Source: HealthpointCapital, Company Website, April 2024)
- ICU Medical Inc. acquired Smiths Medical from Smiths Group plc. The Smiths Medical business includes syringe and ambulatory infusion devices, vascular access, and vital care products. Combined with ICU Medical’s existing businesses, the companies create a leading infusion therapy company with estimated pro forma combined revenues of approximately $2.5 billion. (Source: ICU Medical Inc, Company Website, January 2022)
Procedure Trays Market Report Coverage and Deliverables
The “Procedure Trays Market Size and Forecast (2020–2030)” report provides a detailed analysis of the market covering below areas:
- Procedure trays market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Procedure trays market trends as well as market dynamics such as drivers, restraints, and key opportunities
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Procedure trays market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the procedure trays market
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Application, End User, and Geography
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The market is expected to register a CAGR of 10.0% during 2023–2031.
Biometrix, Medica Europe BV, BD, 3M Owens & Minor Inc, Molnlycke Health Care AB, Nelipak Corporation, Cardinal Health Inc, Teleflex Inc, and ICU Medical Inc.
Growing need for cost-effective products by hospitals and surgical centers, customized procedure trays are trending is likely to remain a key trend in the market.
The increasing number of surgeries and surge in medical tourism are the key driving factors behind the market development. However, the concerns about the disposal and standardization of procedure trays are hampering the market growth.
North America dominated the procedure trays market in 2023