The global procedure trays market size is expected to reach USD 18.9 billion by 2025, according to a new study by Grand View Research Inc., progressing at a CAGR of 10.5% during the forecast period. Increasing number of surgeries across the world is providing a significant boost to the market.
Moreover,
governments worldwide are encouraging usage of single-use sterile instruments
to avoid infections. This, in turn, is acting as one of the key trends stoking
market growth. Along with the increasing number of surgical procedures, the
demand for advanced logistics and inventory management is also growing.
Patients
are increasingly preferring noninvasive or minimally invasive surgeries due to
high risk of infections associated with invasive surgeries. Usage of prepacked
kits aids in prevention and control of infectious diseases. The U.K. government
has issued specific guidelines related to degree of sterility that has to be
maintained in operating rooms. In addition to high risk of infection,
noninvasive surgeries require shorter hospital stays, thus saving time and
medical cost.
Huge
unused stocks of hospital supplies can lead to their expiration. As hospitals
are not required to keep a large stock of medical supplies due to procedure
trays, it helps in avoiding expiry of products. Due to convenience offered by
procedure trays, administrative and purchase departments in hospitals are not
required to contact many suppliers. Hence, it saves procurement and
administration costs.
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Procedure Trays
Market Report Highlights
- Procedure trays market is
segmented into operating room, angiography, ophthalmology, and other
procedure trays. The operating room segment is expected to lead the market
throughout the forecast period.
- Majority of surgical
procedures are performed at hospitals. Hospitals represented the highest
share in the market in 2016.As cost saving measures, rising adoption of
procedure trays will contribute to the hospital segment.
- Clinics and other healthcare
facilities are anticipated to witness highest CAGR in the coming years.
Increasing preference for minimally invasive surgeries will supplement the
growth of the segment.
- North America dominated the
procedure trays market in 2016, owing to domicile of several key players
and various initiatives undertaken by governments to encourage use of
single-use medical supplies to prevent infections.
- Competition in this market
is likely to be high in the coming years as market players are competing
to capture maximum share in the market, especially in technologically
advanced nations such as the U.S., Germany, and U.K.
- Some of the key market
players are Owens & Minor, Inc.; Cardinal Health; 3M Healthcare;
Becton, Dickinson and Company; and Teleflex Incorporated.
- Mergers and acquisitions of
well-established players is one of the key strategies adopted by prominent
companies in the market. For instance, Owens & Minor, Inc. acquired
Medical Action Industries, Inc. in 2014.
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Procedure Trays
Market Segmentation
Grand View Research has segmented
the global procedure tray market report on the basis of product, end-use, and
regions:
Procedure Tray
Product Outlook (Revenue, USD Million, 2014 - 2024)
- Operating Room
- Angiography
- Ophthalmology
- Others
Procedure Tray
End-Use Outlook (Revenue, USD Million, 2014 - 2024)
- Hospitals
- Clinics & other
healthcare facilities
Procedure Tray
Regional Outlook (Revenue, USD Million, 2014 - 2024)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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