The global procedure trays market size is anticipated to reach USD 41.52 billion by 2030, exhibiting a CAGR of 11.3% from 2022 to 2030, according to a new report by Grand View Research, Inc. The increasing prevalence of chronic disorders and the growing geriatric population are the key factors driving growth. According to the World Health Organization (WHO), by 2020, the prevalence of chronic illnesses was expected to increase by 57%. This factor is anticipated to spur market growth in the near future.
Procedure Trays Market Report Highlights
- Based on product, the operating room accounted for the largest market share of 58.34% in 2021. It is vital to maintain cleanliness in operating rooms to avoid wound infections during or after surgery. Custom procedural trays and packs contain sterile single-use surgical materials necessary for specific operating room surgical procedures
- Based on end user, the hospital segment dominated the market with around 51.19% revenue share in 2021. The majority of surgical procedures are performed at hospitals. As a cost-saving measure, the adoption of procedure trays will contribute to market growth
- Europe is expected to witness the fastest expansion at a CAGR of 12.79% during the forecast period, owing to the rising number of surgical procedures and growing geriatric population in this region
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The worldwide healthcare industry has experienced a severe issue as a result of the COVID-19 pandemic. The SARS-CoV-2 pandemic has dramatically raised the demand for emergency supplies, medicine, and medical equipment, such as procedure trays and antiseptic products. In addition, the COVID-19 outbreak and the rising hospital admissions around the world have increased the demand for procedure trays significantly. As a result, the market has witnessed significant growth.
Technological advancements, such as single procedure trays with the capacity to accommodate more than six instruments, and their ability to provide the maximum level of protection to the instrumentation they hold, are anticipated to boost the market growth. For instance, in June 2018, Summit Medical, an Innovia Medical Company, has announced the availability of eight new InstruSafe Instrument Protection Trays built to suit the newest da Vinci Surgical System Instrumentation in conjunction with Intuitive Surgical, which is projected to drive market growth.
Procedure Trays Market Insights By Demographics
North America dominated the market. Various government measures to reassure the use of single-use medical supplies to prevent infections, as well as the presence of prominent market participants in the region, are expected to help the region’s growth. Increase in the aging population and the prevalence of chronic diseases, such as osteoporosis and heart-related problems, in the region coupled with high awareness about healthcare and advanced surgical procedures are likely to increase the demand for surgical procedures in this region. The Europe market is likely to register a high CAGR. The U.K., Germany, France, and Italy are some of the major contributing countries to the region. In Europe, Cardiovascular Diseases (CVDs) remain the primary cause of death in most countries.
Competitive Analysis By Major Manufacturers
Some of the key players that dominated the global market. Companies are stressing research and development to develop technologically advanced products to gain a competitive edge, along with companies are engaging in mergers, partnerships, and acquisitions, aiming to strengthen their product portfolio and manufacturing capacities and provide competitive differentiation. Some prominent players in the global procedure trays market include:
- Owens & Minor, Inc.
- Cardinal Health
- 3M Healthcare
- Teleflex Incorporated
- Braun Melsungen AG
- BD
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Procedure Trays Market Segmentation
Grand View Research has segmented the global procedure trays market based on the product, packaging, end user, and region
- Procedure Trays Product Outlook (Revenue, USD Million, 2017 – 2030)
- Procedure Trays Packaging Outlook (Revenue USD Million; 2017 – 2030)
- Procedure Trays End-user Outlook (Revenue, USD Million, 2017 – 2030)
- Procedure Trays Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players in the Procedure Trays Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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