Procedure Trays Market Forecast to 2027 | What Recent Study Say About Top Companies Owens & Minor, Medica Europe BV, Biometrix, Nelipak, Mölnlycke Health Care AB, Medline Industries, Teleflex

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.

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.

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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, Inc.

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.

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 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.

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.

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