The global procedure trays market is expected to reach US$ 21,725.7 Mn in 2027 from US$ 8,768.9 Mn in 2018. The market is estimated to grow with a CAGR of 10.8% from 2019-2027.
The growth of the market is primarily attributed to various factors such as benefits offered by customized procedure trays, an increase in the number of surgical procedures, and introduction of rules and regulations to implement better healthcare facilities. However, increased concerns over the safe disposal of procedure trays are likely to act as restraining factors for the procedure trays market.
In recent years, there has been considerable development in the field of procedure trays. The growing of surgical procedures has increased the demand for surgical instruments. Procedure trays offer benefits such as performing surgical procedures like hip, hand, and pacemaker surgeries with ease and accuracy. An enormous amount of time can be saved, during the surgical procedure and in the preparations for an operation. Gaining time means that it is possible to work more efficiently and thus to optimize the planning of operations. Operation theatre logistics are simplified. There is a reduction in the number of activities required to get the right products to the right place on time. The fact that custom procedure trays are supplied just in time means that the hospital can simplify its logistics and control its costs. Optimizing procedure trays creates numerous benefits for both surgery centers and their patients by reducing the variation that causes waste and inefficiency, while also improving clinician workflow and patient throughput. The advantages offered by custom procedure trays is anticipated to increase the demand for procedure trays in the forecast period.
Minor procedure kits and trays are designed to save time and reduce costs associated with in-house assembly and instrument reprocessing. Instead of creating storage space in the medical facility for numerous, individually packaged items which are pulled again and again for similar procedures, minor procedure kits and trays are a single item pulled from one location. Components are packaged in order of use, allowing clinicians to progress efficiently through procedures without having to search for missing instruments and components. Not only are minor procedure kits and trays cost-effective and convenient way to ensure clinical staff has ready access to the supplies they need to provide immediate patient care, but they also help promote and encourage consistent product usage and adherence to standardized procedures and protocol. Packaged in easy-to-open rigid trays and CSR-wrap pouches to help ensure all equipment is safe and sterile. Thus, the development of new and innovative products for surgical procedure trays are anticipated to be an aspect in the procedure trays market in the years to come.
Global procedure trays market, based on the product type was segmented into angiography, ophthalmology, operating room, and anesthesia room. In 2018, the operating room held the largest market share of 50.7% of the procedure trays market, by product type. The operating room segment is expected to dominate its market share in 2027 owing to the rising prevalence of the diseases and the increasing number of surgeries. Also, the operating room segment is anticipated to witness the fastest growth rate of 7.3% during the forecast period, 2019 to 2027. In 2018, the hospitals held the largest market share of 45.5% of the procedure trays market, by end user. This segment is also expected to grow during the forecast period owing to the need for the growing number of surgical treatments that has become the major factor for the growth of the procedure trays market. However, the clinics segment is expected to grow at the fastest growth rate of 11.4% during the forecast period, 2019 to 2027.
Some of the major primary and secondary sources included in the report for the Procedure Trays market are World Health Organization, Association of Surgeons in Training, American Society of Plastic Surgeons, Centers for Disease Control and Prevention, International Society of Aesthetic Plastic Surgery, Royal National Institute of Blind People and others.