June 18, 2020
As per the report titled ‘Procedure Trays Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product Type; and By End-User, available with Market Study Report LLC, global procedure trays market is expected to reach USD 21,725.7 million by 2027 expanding with a CAGR of 10.8% over 2019-2027.
Owing to benefits offered by customized procedure trays, rise in surgical procedures, and stringent regulations global procedure trays market is anticipated to witness substantial growth throughout the analysis period. However, increased awareness regarding safe disposal of procedure trays can have a slight impact on the market growth in the subsequent years.
Surgical procedures like hip, lip, and pacemaker surgeries can be performed easily and accurately with the use of procedure trays. Time utilized in operation preparation and surgical procedures can be saved, resulting in optimized operation planning and efficient working. This would lead to on-time availability of products at the right location. Furthermore, owing to the benefits of procedure trays, hospitals can simplify its logistics, and optimize its cost. Use of procedure trays can even reduce waste production and inefficiency, parallelly improving clinical workflow and patient throughput.
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Minor procedure kits are designed to optimize time and cost for in-house assemblies and instrument reprocessing. Minor procedure kits comprise of components packed in order of use, allowing efficient workflow for clinicians, and minimizing storage requirements for individually packaged items in the medical facility. These kits are cost-effective, allow accessibility to critical supplies required for immediate patient care, and adhere to standardized procedures and protocol. To ensure safety and sterility of equipment, minor procedure kits are packaged in easy-to-open rigid trays and CSR-wrap pouches.
Based on product type, global procedure trays market is classified into angiography, ophthalmology, operating room, and anesthesia room. The operating room segment accounted for 50.7% of market share and is expected to continue its domination by showcasing a growth rate of 7.3% during the analysis period owing to high pervasiveness of diseases and increasing number of surgeries.
Based on end-user spectrum, hospitals segment accounted for 45.5% market share in 2018. As per the report, hospitals segment is subjected to register substantial growth in the coming years owing to increasing number of surgical treatments. However, clinics segment is slated to showcase fastest y-o-y growth rate of 11.4% during the study period.
Some of the leading companies operating in global procedure trays market are Medline Industries, Inc., Medica Europe BV, Mölnlycke Health Care AB, Nelipak Corporation (KOHLBERG & COMPANY, L.L.C.), 3M, Biometrix, Owens & Minor, Inc., Teleflex Incorporated, Cardinal Health, Inc., and BD.