Procedure Trays Market: Clinics And Other Facilities Segment Is Anticipated To Witness The Fastest CAGR Of 11.47%

Procedure Trays Industry Overview

The global procedure trays market size was valued at USD 15.99 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.3% from 2022 to 2030. The growing number of surgeries globally is a key factor expected to drive the growth of the market for procedure trays during the forecast period. The advent of minimally invasive and non-invasive procedures has increased the number of surgeries performed each year. This is also expected to fuel the product demand in near future.

Patients choose non-invasive or minimally invasive operations to avoid the risk of infections associated with invasive surgeries. Non-invasive operations necessitate shorter hospital stays, saving both time and money. An increase in the frequency of road accidents, an aging population, and increased healthcare spending in emerging economies are expected to increase the number of procedures performed during the projection period. Global healthcare spending is expected to exceed USD 25.00 trillion by 2040, according to the U.S. Census Bureau. Moreover, according to the WHO, the global population aged 60 and up will double by 2050 and reach 2.1 billion.

Gather more insights about the market drivers, restrains and growth of the Global Procedure Trays market

All the tools and devices needed to perform a specific surgical or diagnostic operation are included in custom procedure kits. Although these kits are not utilized in every medical operation, they are recommended when treating cardiovascular, ophthalmology, and orthopedic ailments and disorders, as well as wound care and dental procedures. Physicians and healthcare practitioners can utilize custom procedure trays to pick clean surgical instruments and tools for single use. The pre-configured and pre-packaged trays and kits minimize the requirement for a massive inventory of individual components. Hence, pre-packaged bespoke procedural solutions help increase the quality of services as they streamline inventory management.

The COVID-19 pandemic positively impacted the procedure trays market due to the increased need for procedure trays to treat the coronavirus-affected population. A continuing shortage of procedure trays, such as testing kits and crucial diagnosis procedure trays has resulted from supply chain disruption. The acute shortfall is caused by a decline in Chinese shipments. The shortage of vital procedure trays is caused by a drop in shipments owing to closed manufacturers and ports.

Although the demand is 40 times higher than typical, there is no full fulfillment of demand due to supply chain disruptions. All countries, including India, China, and others, have put an end to their efforts to save medical procedure trays for their populations. As a result, there is a strong market need for procedure trays

In addition, companies are developing their end-to-end supply chain to optimize product costs to increase quality and services linked with customized procedure trays. Removing third-party expenditures helps businesses save money. Manufacturers are focused on efficient sterilizing procedures to avoid infections among healthcare practitioners and patients in the wake of the rapidly spreading COVID-19 infections. As a result, firms in the market are focusing on improving operational performance to increase their global credibility.

Procedure tray manufacturing companies use unique and advanced technologies to design, produce and sell products to diverse customers based on the amount of protection required for distinct job risks. Most manufacturers have their original technology or have licensed it from other industry participants. For instance, in February 2021, Uvamed Ltd, based in the U.K., is the creator of the popular Tamper Evident Rainbow Trays and Rainbow Trays for anesthetic medications.

The Trauma Tray crash-box/procedure-pack won an Innovate UK. award, due to their various benefits, These trays are secure and auditable entire procedure packs for usage outside of traditional hospital settings, such as field hospitals, emergency departments, ambulances, care homes, and rescue services, which are projected to drive market expansion

The U.S. dominated the market with the highest revenue share of 88.80% in 2021. Government initiatives to encourage the adoption of disposable medical supplies to prevent infections in operating rooms are the key factor responsible for the growth of the market in this region.

The increasing number of surgeries and the geriatric population are the factors that drive the market growth in the U.S. According to Regenexx, in the U.S., more than 7 million orthopedic surgeries were performed in 2021. According to the National Center for Health Statistics, more than 40 million surgeries are performed each year, and that number is expected to grow exponentially. In addition, according to the American Psychological Association in 2021, the geriatric population in the country is currently at 46 million and is supposed to double itself by 2060, which is supposed to increase surgeries coupled with advancements in technology and drive the market growth.

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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)

• Operating Room
• Angiography
• Ophthalmic
• Others

Procedure Trays Packaging Outlook (Revenue USD Million; 2017 – 2030)

• Box
• Mold
• Wrap

Procedure Trays End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Hospitals
• Clinics & Other Facilities

Procedure Trays Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa (MEA)

Key Companies profiled
Some prominent players in the global procedure trays market include:

• Owens & Minor, Inc.
• Cardinal Health
• 3M Healthcare
• Teleflex Incorporated
• Braun Melsungen AG
• BD
• Merit Medical Systems

Order a free sample PDF of the Procedure Trays Market Intelligence Study, published by Grand View Research.

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