Latin America Procedure Trays Market

Latin America Procedure Trays Market Size & Growth (2022 to 2027):

The Size of the Latin America Procedure Trays Market is valued at USD 0.82 billion in 2022 and estimated to grow at a CAGR of 15.17%, to reach USD 1.66 billion by 2027 during the forecast period 2022 to 2027. The Latin America Procedure Trays market is developing at an exceptionally quick pace.

DRIVERS

In the last few years, there has been an increase in chronic diseases in Latin America. Expanding medical care infrastructure and growing medical expenses in healthcare are expected to drive the market successfully. The enlarging number of surgeries in the region and the growing need for the procedure trays in different medical procedures are majorly contributing to the market growth. The surging popularity of procedure trays among medical professionals and quick growth in medical tourism in some developing nations are propelling the market growth. Increasing preference for non-invasive or minimally invasive surgeries as there is a high risk of infections associated with invasive surgeries is likely to bolster the market's growth rate. 

RESTRAINTS

However, the shortage of raw material required to manufacture procedure trays is impeding market growth. Lack of awareness among the medical staff and increasing need for modernization is to hamper the market demand.

This research report on the Latin America Procedure Trays Market has been segmented and sub-segmented into the following categories

By Product:

• Angiography Procedure Tray
• Ophthalmic Procedure Tray
• Operating Room Procedure Tray
• Anesthesia Room Procedure Tray
• Others

By Application:

• Hospitals
• Clinics
• Ambulatory Surgical Centers

By Country:

• Mexico
• Brazil
• Argentina
• Chile
• the Rest of Latin America

REGIONAL ANALYSIS

The market is driven by factors like a prominent increase in chronic diseases, rising patient population, and an increase in the number of hospitals. Creating awareness in people by organizing programs and intensifying surgical procedures due to the growing demand for surgical instruments is likely to foster the market demand. Advantages provided by the procedure trays as it saves a huge amount of time and making betterments in clinician workflows are to impel the market growth.

Brazil is expected to have a promising growth rate in the region. Focus on manufacturing medical devices with key strategies by the market players is eventually pushing the market demand.

Mexico is projected to have quick and considerable growth during the time period. Adjustment of single-use trays among many hospitals is escalating the market demand. Government initiatives in launching various policies in favor of the end-users are leveling up the market demand. Growing medical expenses and a rise in per capita income are to uplift the market demand.

Noteworthy Companies leading the Latin America Procedure Trays Market Profiled in the Report are Baxter International, Boston Scientific Corp., Cardinal Health, CareFusion Corp., Covidien AG, C.R. Bard Inc., Ecolab Inc., Hogy Medical Co., Ltd., Medical Action Industries Inc., Medline Industries Inc. Precise-Pak Inc., Smith & Nephew Plc, Teleflex Medical.