Procedure Trays Market Growing at 10.8% CAGR to Reach $21,725.7 Million by 2027 Fuelled by Nelipak, Biometrix, 3M, BD, Medica Europe, Owens & Minor, Medline Industries, Molnlycke Health Care, Teleflex, Cardinal Health

The global procedure trays market to grow at a CAGR of 10.8% to account $21,725.7 Million by 2027 from $8,768.9 Million in 2018 Fuelled by Benefits offered by Customize Procedure Trays and Increase in the Number of Surgical Procedures.

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.

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Procedure Trays Market Key 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.


Market Insights:

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.

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.

Strategic Insights:

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.

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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

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This release was published on openPR.