Global Procedure Trays Market Report Description:
Global procedure trays market report gives comprehensive outlook on procedure trays across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global procedure trays market gives historical, current, and future market sizes (US$ Mn) on the basis of product, end user and region. This report studies global procedure trays market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global procedure trays market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global procedure trays products.
Global Procedure Trays Market:
The global procedure trays market estimated to be valued US$ 8.2 Bn in 2018 and poised to grow at significant CAGR of 11.2% over 2019-2025. Increase in the number of surgical procedures, improving medical infrastructure, growing medical tourism, rising spending on healthcare and adoption of custom procedure kits are some key factors fueling the market growth. However, factors such as increased concerns over the safe disposal of procedure trays is hampering the market growth.
Increase in the Number of Surgical Procedures are Fueling the Market Growth
Surgical care is essential for managing diverse health conditions such as injuries, obstructed labour, malignancy, infections and cardiovascular disease and an indispensable component of a functioning health system. Growing cases of surgeries worldwide is one of the major factor driving the market growth. Many healthcare facilities assemble and produce procedure trays for use at the bedside or in departments other than the operating room to perform minor surgical procedures. In many instances, these trays are designed to provide all the instruments and supplies needed for the physician to perform the procedure often without the assistance of a nurse or aide. A procedure tray or pack is designed in a way that reduces the time spent by the caregiver to assemble those items necessary to perform the procedure. Hence,
North America Accounts for Larger Market Revenue Share in Global Procedure Trays Market
North America accounted for larger revenue share in global procedure trays market with considerable CAGR. The growth in this region is due to presence of a large pool of geriatric population, rising demand for minimally invasive procedures over traditional methods, increasing reimbursement for surgeries and high adoption of advanced technology. U.S is the major contributor for the growth of the market in the region. Asia Pacific held substantial market share during estimated period owing to increasing spending on healthcare, rapidly developing medical infrastructure and growing medical tourism in emerging nations.
Key player’s profiles in the global procedure trays market include:
- Baxter International
- Boston Scientific Corp.
- Cardinal Health
- CareFusion Corp.
- Covidien AG
- R. Bard Inc.
- Ecolab Inc.
- Hogy Medical Co., Ltd.
- Medical Action Industries Inc.
- Medline Industries Inc.
- Precise-Pak Inc.
- Smith & Nephew Plc
- Teleflex Medical.
- Owens & Minor, Inc.
Global procedure trays market is surging owing to frequent acquisitions and launchings by the market players. For Instance, in 2014, Owens & Minor, Inc. acquired Medical Action Industries, Inc. The acquisition of Medical Action is consistent with their strategic focus and a natural extension of Owens & Minor’s core capabilities as they look to broaden their service offering,
Key Findings of the Report:
- Global procedure trays market expanding at significant CAGR over 2019 to 2025 due to increase in the number of surgical procedures
- Based on end user, hospital segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global procedure trays market
- Operating Room
By End User
- Clinics and Other Healthcare Facilities
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market