Minor Procedure Kits And Trays Market 2024-2033: Global Outlook, Industry Share, Latest Trends And Major Players

"The Business Research Company recently released a comprehensive report on the Global Minor Procedure Kits And Trays Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The minor procedure kits and trays market size has grown rapidly in recent years. It will grow from $6.33 billion in 2023 to $7.03 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increasing demand for outpatient surgeries, growing ambulatory surgical centers, rising awareness of infection control, government regulations and standards, and the aging population.

The minor procedure kits and trays market size is expected to see rapid growth in the next few years. It will grow to $10.72 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to rising healthcare expenditure, increasing outpatient surgeries, infection control awareness, hospital demand for cost-efficiency, and growth in ambulatory surgical centers. Major trends in the forecast period include sterilization advancements, implementation of RFID and QR code technology, single-use innovations, compact and space-saving designs, and demand for customized kits.

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Market Drivers and Trends:

A growing need for minimally invasive procedures is expected to propel the growth of the minor procedure kits and trays market going forward. Minimally invasive procedures are medical techniques that involve smaller incisions and less tissue disruption compared to traditional surgery, aiming for quicker recovery and reduced risk. Minimally invasive procedures are increasing due to their benefits of reduced recovery time, lower risk of complications, and improved patient outcomes compared to traditional surgical methods. Minor procedure kits and trays streamline minimally invasive procedures by providing pre-assembled, sterile tools and materials essential for efficient and safe surgical interventions. For instance, in September 2023, according to the data published by the American Society of Plastic Surgeons, a US-based association of plastic surgeons, around 23,672,269 minimally invasive cosmetic surgeries were carried out in the USA in 2022, increasing by 7% to 25,442,640 surgeries in 2023. Therefore, a growing need for minimally invasive procedures is driving the growth of the minor procedure kits and trays market.

Major companies operating in the minor procedure kits and trays market are focusing on developing innovative products, such as using sustainable materials to reduce plastic waste and carbon dioxide equivalent (CO2e) emissions in high-volume surgical procedures. Sustainable materials are resources that are produced, used, and disposed of in a way that minimizes environmental impact and preserves resources for future generations. For instance, in February 2023, NewGen Surgical Inc., a US-based medical devices and surgical products company, introduced Bio-Based Surgical Compartment Trays. These are designed to replace single-use plastics in surgical procedures, offering an environmentally friendly alternative that reduces plastic waste and CO2e emissions. Their significance lies in their potential to achieve measurable reductions in environmental impact, particularly in high-volume ophthalmology procedures, and in their USDA BioPreferred Certification, which underscores their commitment to sustainability.

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Major Key Players of the Market:

Cardinal Health Inc., Johnson & Johnson Services Inc., 3M Company, Medtronic PLC, Becton Dickinson and Company (BD), Stryker Corporation, Henry Schein Inc., Owens & Minor Inc., B. Braun Melsungen AG, Smith & Nephew plc, Steris plc, Teleflex Incorporated, Hartmann Group, Mölnlycke Health Care AB, Halyard Health Inc., Integra LifeSciences Corporation, Aspen Surgical Products Inc., Bioseal LLC, ITL Health Group, Bluekit Medical LLC, QuickMedical

Minor Procedure Kits And Trays Market 2024 Key Insights:

• The minor procedure kits and trays market size is expected to see rapid growth in the next few years. It will grow to $10.72 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%.
• Increasing Minimally Invasive Procedures Are Driving Growth In Minor Procedure Kits
• Companies Are Innovating With Sustainable Materials To Reduce Environmental Impact
• North America was the largest region in the minor procedure kits and trays market in 2023

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