Procedure Trays Market to Grow At a Robust CAGR During 2019-2027: Biometrix, Medica Europe, 3M, BD, Medline Industries, Nelipak Corporation, Teleflex Incorporated and Cardinal Health

The global 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.

Key factors driving the market benefits offered by customize procedure trays, increase in the number of surgical procedures, and introduction of rules and regulations to implement better healthcare facilities.

The prominent players operating in procedure trays market are, Biometrix, Medica Europe BV, 3M, BD, Owens & Minor, Inc., Medline Industries, Inc., Mölnlycke Health Care AB, Nelipak Corporation, Teleflex Incorporated, and Cardinal Health

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The procedure trays market by product type is segmented into angiography, ophthalmology, operating room, and anesthesia room. 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.

Increase in the number of surgical procedures is leading the growth of procedure trays market over the forecast period.

The market players are focused towards bringing mergers and acquisitions to sustain their position in the market. For instance, in January 2019 BD (Becton, Dickinson and Company) (NYSE: BDX), a leading global medical technology company, announced it has completed the acquisition of C. R. Bard, Inc. (NYSE: BCR), creating a new health care industry leader with approximately $16 billion in annualized revenue. C. R. Bard, Inc. provides urology trays, Suprapubic Trays, dressing trays and others. Thus enhancing BD’s product portfolio. The developments performed by the companies are helping the market to grow in the coming years.

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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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This release was published on openPR.