As per our report, the global procedure trays market size is valued at 12.00 billion in 2023 and is expected to reach USD 23.31 billion by 2027, to grow at a healthy CAGR of 14.2% from 2023 to 2028.
Based on the product, the Anesthesia Room in Procedure Trays is expected to hold a good market share by 2028.
Based on the application, the hospital's segment accounted for a significant share of the market in 2022.
The North American procedure trays market is anticipated to grow at a significant CAGR and holds the largest share of the revenue during the forecast period.
A Custom Procedure Tray or CPT is designed for specific procedural needs to be carried out, which is a collection of medical kits to provide disposable items used during surgery, packaged and delivered in a single sterile package, containing items like cardiac catheters, surgical blades, surgical drapes, implants, stitches, wound dressings, and surgical wipes, making it's easily accessible for the surgeon performing the procedure.
A soaring adoption has been witnessed for procedure trays in the last decade. A procedure tray is a toolset that helps during surgeries and medical processes. The usage of these trays is very high in medical procedures like wound management, cardiovascular, ophthalmic, and dental practices. The procedure trays help reduce medical waste by reusing equipment with sterilization. In addition, they are cost-effective as well as time-saving and multi-processor tools.
The growing number of surgeries globally is a primary factor that significantly boosts the global procedure trays market growth.
The rise in surgeries happening worldwide and the increasing need for these trays in various medical procedures directly influence the market growth. As per the National Center for Health Statistics data, around 48 million surgical inpatient procedures were performed in the year 2009 in the U.S. alone. Additionally, the growing demand to improve the quality of medical surgeries with the help of pre-packed and sterile equipment is fueling the market growth of procedure trays. Furthermore, rising awareness about health issues and the increasing number of chronic diseases leading to surgery cases are expected to boost the global procedure trays market.
The primary factor responsible for the high growth of the global procedural trays market over the forecast period is the wide range of benefits. They provide cost efficiency, a custom procedure tray that saves money and is completely practical, lessening the pressure on staff and improving patients' performance. Being Reliable, they are of the highest quality standards, offering the best services to patients. Getting the suitable component required for surgery at the right time and in the correct configuration is crucial during surgeries. Also, various options are available for a wide selection of surgical components for the clinical need. Furthermore, due to its Flexibility, the tray is adapted to packaging changes due to the outbreaks of different diseases due to changes in weather and seasons.
An essential component in markets and medicine, Quality Certification, is provided. It not only reduces the preparation time through streamlined inventory control processes but also reduces the trash bags used in hospitals. As a result, it saves time, is cost-effective, increases care, and keeps the environment clean.
The most beneficial advantage of all the above-mentioned is the easy sterilization of trays, which is very important for reduced risk of contamination since good hygiene should be observed, and no surprises are given since these trays assure of not making any changes in the places of types of equipment without consent. These factors are leading to an increase in the high adoption of procedural trays across medical settings worldwide.
Multi-specialty hospitals are, by default considering the procedure trays an essential kit to perform surgeries, and the growth in these hospitals is supporting the procedure trays market. In addition, various governments are taking active initiatives to increase the usage of procedure trays for single-use sterile instrument use in medical activities to be safe and avoid patient infection.
The lack of raw material availability to manufacture procedure trays in some countries is a significant challenge to the market. In addition, the growing need for modernization in surgery rooms and standardization with operators further hinders the procedure trays market growth.
COVID-19 Impact on the global procedure trays market:
SARS-COV 2, the virus that causes Coronavirus 2019 (COVID-19), has caused a global pandemic and is now infecting thousands in India, posing a challenge for surgeons. SARS-CoV-2 can live for hours in aerosols, plastic surfaces, stainless steel, cardboard, and iron and is spread by suspended droplets and fomites. The survival of viral particles is affected by the amount of inoculum used and environmental factors such as temperature and humidity. A higher viral load is seen in symptomatic infected patients, and different medical procedures may lead to the formation of aerosols. Several hospital treatments require the use of procedure trays. A Procedure Tray is a pre-packaged series of medical instruments intended to include all disposable products required for a surgical operation in a single sterile package. The surgical team specifies the procedure tray's material, shape, and even wrap style to minimize set-up time, surgical waste, cost, and contamination risk.
According to research, a personalized surgical tray will minimize operating room time costs by more than 40%. Everything required is conveniently accessible with a personalized surgical tray, eliminating the need for medical staff to waste hours preparing their materials and resources. This also aids in reducing emergency response and procedure set-up times. Medical facilities benefit from using CPT custom trays in various ways, including expense and time savings. Knowing the various advantages of CPT surgical trays for patients is also essential. Considering all these factors, the global procedure trays market's growth rate is accelerated due to the pandemic situation and is forecasted to achieve better growth heights during the forecast period.
Market Size Available
2022 to 2028
2023 to 2028
By Product, Application, and Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
This market research report on the global procedure trays market has been segmented and sub-segmented based on the product, application, and region.
Procedure Trays Market - By Product:
Angiography Procedure Trays
Ophthalmic Procedure Trays
Operating Room Procedure Trays
Anesthesia Room Procedure Trays
Based on the product, the operating room procedure trays held the highest share of the market in 2022 and are estimated to showcase a CAGR of 50.7% during the forecast period. An increasing number of infectious diseases and a rise in the demand to promote quality services in healthcare centers are escalating the need for this segment to an extent. All custom trays require specific disposable components depending on the type of operation, most of which are essential to all custom trays, like scalp veins, dressings, disposable syringes, surgical swab-type needles, surgical blades, bowls, sutures, forceps, mesh cutters, towels, surgical drapes, and personal protective equipment.
Anesthesia Room Procedure Trays are expected to hold a good market share. A standard anesthesia cart always has catheter suction, spare self-inflating bag, essential medications, IV supplies, handles, endotracheal tubes, blades, laryngeal mask airway (LMA), and other necessary additional equipment fully stocked.
Procedure Trays Market - By Application:
Ambulatory Surgical Centers
Based on the Application, the hospital's segment accounted for the highest shares in the market in 2022 due to the growing number of surgeries due to the rise in the chronic diseases admitted in the hospitals, majorly driving this segment's demand. As a result, hospitals and physicians have to choose additional components, most of the time, for their custom trays, such as cardiac catheters used in a catheterization procedure, surgical skin staples used to close skin wounds, litigation clip to close bleeding vessels, and nasal oxygen catheter to evenly distribute oxygen through piercings.
The clinic's segment is estimated to increase and register a CAGR of 12.9% from 2022 to 2027. The ASC, on the other hand, is the fastest growing healthcare facility and is proving to be gaining patients satisfaction with the outcome of the surgery, low cost, and quality of care they receive and also impressed with the way the facility is run, resulting in many surgeries being performed, requiring more procedural trays, which is why the ambulatory surgical centers are also expected to grow over the forecast period.
Procedure Trays Market - By Region:
Middle East and Africa
Regionally, the North American procedure trays market had the largest market share of the global procedure trays market, followed by Europe in 2019. The existence of market key players and different initiative steps that the government takes to motivate the usage of single-use medical supplies are some actors that surge the demand for the procedures tray market in this region.
Europe's procedure trays market stands second in the global procedure trays market in terms of revenue. In this region, a rise in the number of patients with cardiovascular problems is increasing the market's growth rate. In addition, favorable government initiatives and standard increases of infectious diseases among patients propel the market. In this region, the U.K. is the holding with the highest shares of the market.
The Asia Pacific procedure trays market was the fastest-growing segment owing to developing medical infrastructure and increasing spending on healthcare. Asia-Pacific stands third in the market and is observed to have the quickest growth and high CAGR value due to the development of medical infrastructure within a short period, growing expenditure on healthcare, and growing awareness of medical tourism. India and China are contributing the highest shares of the market.
The Latin America procedure trays market and the Middle East & Africa procedure trays market are observed to have an average growth rate during the period. It is due to enhancing healthcare services, growing medical management disbursements, and rising support from the government that is boosting the market growth.
KEY MARKET PARTICIPANTS:
Some of the prominent companies operating in the global 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., and Medline Industries Inc.
RECENT MARKET DEVELOPMENTS:
In November 2022, Whitney Medical Solutions showcased its first isolation room solution, Iso-Tray, a single-use procedure tray to reduce the risk of infection and cross-contamination during invasive clinical procedures, meeting OSHA regulations.
In October 2022, DePuy Synthes, the Orthopedics Company of Johnson & Johnson, received 510(k) clearance from the U.S. Food and Drug Administration for its system TEIGEN, a technology-integrated platform for minimally invasive lumbar transforaminal interbody fusion surgical procedures.
In April 2020, The DanapakFlexible industry used new types of raw material such as fiber-form Billerudkorsnas, an environmentally paper-based bottom web tray with Danafibre.
In June 2018, eight types of new provide Medical company, the name da Vinci surgical system. In the statement given, designed eight types of new procedure trays; it was announced that these trays have 360° protection services for transportation and sterilization, and storage.
The procedure trays market in North America is expected to grow significantly and hold the largest share of the revenue during the forecast period.
Baxter International, Boston Scientific Corp, Cardinal Health, CareFusion Corp, Covidien AG, and C.R. Bard Inc., are some of the key market players in the procedure trays market.
The global procedure trays market is expected to grow at a CAGR of 14.2% during the forecast period.
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