Procedure Tray Market

Publisher: AnalystView Market Insights
Publication Date: June, 2020
Healthcare / Medical Equipment
Pages: 209
Delivery Format: PDF

By Product (Minor Procedure Trays, and Surgical Procedure Trays), By Packing Type (Boxes, Moulds, and Wraps), By Type (Ophthalmology, Operating Room, and Angiography), By End-Use (Clinics, Ambulatory Surgery Centre, and Hospitals), and By Geography (NA, EU, APAC, LATAM and MEA) Ð Analysis, Share, Trends, Size, & Forecast From 2020 Ð 2026

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Methodology
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REPORT HIGHLIGHT

The procedure tray market was valued at USD 9.23 billion by 2019, growing with 9.8% CAGR during the forecast period, 2020-2026.

Procedure tray is a pre-packaged range of medical instruments, designed to include all the disposable products required for surgical procedures and delivered in a single sterile pack. The procedure tray is designed to follow the standard of each hospital according to the patient treatment specifications, with the content, layout, and even the style of wrapping stipulated by the surgical team to reduce set-up time, surgical waste, expense and risk of contamination. These trays are commonly used during non-surgical and surgical cardiovascular procedures, wound management, dental practices, ophthalmic procedures, and orthopedic conditions. The materials used for the manufacturing procedure tray are of very high quality, so there should be fewer errors of physical damage and the equipment should stay in the appropriate position in the sterilization state.

Market Dynamics

The global procedure tray market is majorly driven by the increasing number of surgical procedures across the globe. As per the World Health Organization (WHO) data, it was estimated that more than 500 million surgical procedures performed in operating theatres during the year 2017-2018. This would, in turn, fuel the demand for procedure trays, augmenting the industry growth. In addition, the rising popularity of the procedure trays among medical practitioners is considered to be one of the important factors driving the global market.

Growing preference for minimally invasive procedures has further sparked the demand for non-surgical as well as surgical trays. Every year more patients undergo minimally invasive surgery due to lower associated risks relative to conventional surgery. Various research publications also suggested that minimally invasive procedures are playing an important role in general surgery as an alternative to the traditional surgical process. Such facts would, in turn, further spur the demand for procedure trays among end-users. Moreover, factors such as favorable government regulations, new product developments coupled with growing awareness will drive the market growth to a great extent. However, poor supply chain management coupled with a lack of strict rules by the U.S. FDA regarding the use of such trays is expected to hamper the industry growth to some extent.

Application Takeaway

Based on the application, the market has been categorized into anesthesia, ophthalmic, operating room, and angiography. Of these, the operating room category held the largest share in the market. In operating rooms, maintaining sterility is essential to avoid wound infections during or after surgeries. Furthermore, the emergence of hybrid operating rooms has increased the installation of multi-purpose surgical equipment for high operational efficiency. This has provided ample space for the introduction of custom procedure trays in operating rooms, driving the segment growth further.

On the flip side, ophthalmology and angiography segments are expected to grow at the fastest CAGR. The rising number of cataract surgeries and other eye surgeries is likely to enhance the usage of procedure trays as these are highly standardized procedures. Additionally, the emerging cases of cardiovascular diseases owing to the changing lifestyle are further estimated to boost the adoption of procedure trays.

End-User Takeaway

In terms of end-user, the worldwide market is segmented into hospitals, ambulatory surgical centers, and clinics. Currently, the hospitals segment dominated the global procedure tray market. The majority of surgical procedures such as ophthalmic, cardiovascular, and angiography are being performed in hospitals. In addition, the growing number of hospitals across the globe will result in high adoption for procedure trays as these are cost-effective and time-saving. Moreover, the ambulatory care centers segment is projected to grow at the fastest pace in the upcoming years. The growing preference for minimally invasive surgeries is expected to boost the demand for procedure tray in outpatient care centers.

Regional Takeaway

North America is estimated to account for the largest share of the global procedure tray market. An emerging number of surgical procedures, growing R&D expenditures, and technological advancements are the major factors driving the regional market for procedure trays. Moreover, the patients in North America highly prefer minimally invasive procedures which are, in turn, expected to increase the demand for procedure trays. The U.S. is the largest contributing country to the regional market with increasing reimbursement for surgeries and favorable government initiatives. Furthermore, Europe is the second-largest market due to the presence of a large number of pharmaceutical companies and well-developed healthcare facilities. The Asia Pacific is projected to grow at the highest CAGR during the forecast period owing to the growing geriatric population and adoption of advanced technologies & devices.

Key Vendor Takeaway

Some of the key players that are actively responsible for the growth of this industry are Owens & Minor, Inc., Becton, Dickinson and Company, Cardinal Health, Teleflex Incorporated, B. Braun Melsungen AG, Merit Medical Systems, and 3M Healthcare.

The key market players mainly focus on product innovation, new product launch, and mergers & acquisitions. In Jan 2019, Owens & Minor, Inc. signed a five-year agreement with Scripps Health, an integrated health system, a non-profit organization based in San Diego, California for surgical and medical supply distribution across Southern California. The agreement would enable the company to serve the non-acute care clinics and outpatient centers and five acute-care hospital campuses included in the Scripps Health system.

The market size and forecast for each segment and sub-segments has been considered as below:

Historical Year Ð 2015 to 2018
Base Year Ð 2019
Estimated Year Ð 2020
Projected Year Ð 2026
TARGET AUDIENCE

Traders, Distributors, and Suppliers
Manufacturers
Government and Regional Agencies
Research Organizations
Consultants
Distributors
SCOPE OF THE REPORT

The scope of this report covers the market by its major segments, which include as follows:

PROCEDURE TRAY MARKET KEY PLAYERS

Becton, Dickinson, and Company
Bausch & Lomb Incorporated.
Cardinal Health
Owens & Minor, Inc.
Merit Medical Systems
Cardinal Health
Braun Melsungen AG
3M Healthcare
Lohmann & Rauscher Inc.
Pennine Healthcare
Smith Medical
Kimal Plc.
Dickinson and Company
Teleflex Incorporated
PROCEDURE TRAYMARKET BY PRODUCT

Minor Procedure Trays
Surgical Procedure Trays
PROCEDURE TRAYMARKET BY PACKING TYPE

Wraps
Boxes
Molds
PROCEDURE TRAYMARKET BY APPLICATION

Anesthesia
Operating Room
Ophthalmic
Angiography
Others
PROCEDURE TRAYMARKET BY END-USE

Hospitals
Clinics
Medical Institutions
Ambulatory Surgical Centre
Others
PROCEDURE TRAYMARKET, BY REGION

North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Singapore
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Rest of MEA

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Procedure Tray Market

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